PPA and new shareholder agreement for St. Vincent geothermal project

Prime Minister Dr. Ralph Gonsalves announced that the Power Purchase Agreement (PPA) for St. Vincent’s geothermal project will be signed shortly.

The agreement is between St. Vincent Electricity Services Limited, and Emera Inc. and Reykjavik Geothermal. An adapted shareholders agreement will also be signed, by which the government’s shareholding will increase to 49%, with 51% held by the two companies.

This project will deliver 10 MW of geothermal energy to St. Vincent and the Grenadines, an important step for the country to meet its commitments of reducing greenhouse gas emissions.