A joint report by the IRENA/ ADFD Project Facility has reviewed the progress of their financing of joint projects, such as the geothermal project in Saint Vincent and the Grenadines.
The report included project profiles and updates. The 10-15MW plant is a public-private geothermal energy development.
USD 15 million were used to finance the plant’s developed which will bring the share of renewable sources to 73%, well above the country’s target of 60% by 2020, but not meeting its time limit.
Civil work are already underway, the report indicated, with drilling to begin later this year. The plant is expected to enter into commission in 2023.