March 22, 2017, BRIDGETOWN, Barbados – The Board of Directors of the Caribbean Development Bank (CDB) has approved a grant of US$231,630 to the Government of Grenada to build its capacity for planning and implementation of its geothermal energy development roadmap. The resources are from the Global Environment Facility through the Inter-American Development Bank’s Sustainable Energy Facility for the Eastern Caribbean with the CDB.
Successful development of Grenada’s geothermal energy potential holds the greatest prospect for transforming the energy sector. This technical assistance project will provide the Government of Grenada with consultancy expertise for a period of 24 months. Consultants will work with the Government’s staff, through the establishment and operation of a Geothermal Energy Project Management Unit (GPMU).
The GPMU will provide dedicated resources to pursue the country’s geothermal energy development plan, and support the achievement of exploration drilling. The Ministry of Finance and Energy will implement the Project, which is also consistent with CDB’s Energy Sector Policy and Strategy, and Climate Resilience Strategy. (more…)