GEOLAC Market News - Page 7 of 32

Dominica geothermal project to drill additional 2 wells
August 4, 2021
In a statement this week, Roosevelt Skerrit, Prime Minister of Dominica, provided an update on the geothermal power project on the Caribbean island state. The geothermal project in the Roseau Valley will see the drilling of two additional wells, with financial and technical support of the World Bank. The Dominica government concluded five procurements valued […]
World Bank approves US$21.9 million to fund geothermal energy exploration in Saint Lucia
July 31, 2021
The World Bank Board of Executive Directors approved today US$21.9 million for the Renewable Energy Sector Development Project for Saint Lucia. This grant financing will help the Government of Saint Lucia assess the viability of its geothermal resources for power generation and strengthen the business environment for the private sector to pursue clean energy projects. […]
El Salvador plans bitcoin mining using geothermal energy
July 14, 2021
El Salvador announced plans on accepting cryptocurrency as legal tender and calls for the use of geothermal energy for bitcoin mining in the country. News outlets around the world are going a bit wild on recent stories that El Salvador wants to “power crypto-mining with 100% cheap, renewable ‘Volcano’ energy”. Before jumping on that wagon, […]
Bluestone to progress studies on geothermal project, Guatemala
July 7, 2021
Reporting on the progress on the company’s Cerro Blanco gold mining project in Guatemala, Bluestone Resources Inc. announced plans for an open pit gold mine development. Proceeding with a feasibility study, permitting, and capacity building in the communities within the area of influence, the element of “responsible development” is highlighted by Bluestone. Source
Chile’s coal phase-out: opportunities for a just transition
June 28, 2021
As countries around the globe make the much-needed transition to zero carbon energy, the livelihoods of millions of coal and oil workers hang in the balance. Discussions surrounding the need for a “just transition”—a framework to protect workers’ rights in the shift to a more resilient, low-carbon economy—have begun in some parts of the world […]
Three geothermal power pilot projects developed in Colombia
June 22, 2021
In the departments of Casanare and Meta in Colombia, there are three pilot projects being developed for geothermal power generation. Developed by the companies Parex Resources and Ecopetrol, they are utilizing hot water derived from oil drilling to produce geothermal power. Source
Geothermal energy still on the agenda in Grenada, Caribbean
June 6, 2021
In the context of the Caribbean, the news have centered around the French territory of Guadeloupe with currently the only geothermal plant in the region, Dominica, the island of Nevis, UK territory of Montserrat, and St. Vincent and the Grenadines. But there clearly has been a wider interest in the Caribbean. The Caribbean country of […]
Latin American and Caribbean countries use volcanic landscapes to tap geothermal energy
May 8, 2021
Geothermal, a renewable energy source that involves drilling for hot steam deep underground, currently provides less than 1% of the world’s energy. It’s a resource that could theoretically be accessible everywhere on the planet. Advocates are particularly interested in increasing its footprint in developing countries, such as Latin America and the Caribbean, to help boost […]
First geothermal power plant inaugurated in Colombia
March 29, 2021
Parex Resources Inc., an international oil and gas exploration and development company with headquarters in Calgary, Canada has reached a milestone for the company and Colombia. Source