MINISTRY OF FINANCE PLANNING, ECONOMIC DEVELOPMENT & PHYSICAL DEVELOPMENT

GRENADA

 

 

 

NO. 22/2017                            DATE: March 24, 2017



GRENADA RECEIVES GRANT FOR GEOTHERMAL ENERGY DEVELOPMENT



ST. GEORGE’S, GRENADA Friday, March 24, 2017: The Board of Directors of the Caribbean Development Bank (CDB), at a recent meeting, approved a grant of USD$231,630.00, to the Government of Grenada, to build its capacity for planning and implementation of its Geothermal Energy Development Roadmap (GEDR).

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.

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. 

In her statement, post the Directors’ meeting, Tessa Williams-Robertson, Head of the Renewable Energy / Energy Efficiency Unit, at the CDB noted: “The grant will enhance the Government of Grenada’s own capacity to move, realisation of its geothermal energy potential, to the next level. Under CDB’s GeoSmart Initiative, appropriate resources have been mobilised and CDB is working with development partners to assist Eastern Caribbean countries in developing geothermal energy where the potential exists.”

Grenada is especially dependent on imported petroleum products to satisfy its growing energy demand. In 2014, the cost of Petroleum products imported in 2014 amounted to approximately USD$67 million.

The Project is consistent with the 2011 National Energy Policy, supporting the Government of Grenada’s ongoing efforts to improve the country’s energy security. The Government is also working towards meeting its national target for reducing carbon emissions by thirty percent (30%) by 2025, to which successful geothermal development will make an important contribution.

Between January 2015 and now, the following have been accomplished with respect to Geothermal Development in Grenada:

  1. The undertaking of extensive geochemical, geophysical and geological surveys to provide estimates on Grenada’s geothermal resource.
  2. The preparation of a Geothermal Resources Development Roadmap (GRDR) outlining key activities, costs and resources required to achieve commissioning of a 15MW geothermal plant in 2022/3.
  3. Two Donor forums to report findings from activities completed and to garner further support.
  4. Shortlisting of locations suitable for exploration drilling.
  5. Preliminary assessment of the existing infrastructural capacity of the island to facilitate an exploration drilling campaign and deliver equipment to the potential sites; and
  6. A preliminary analysis of Grenada’s institutional, legislative and regulatory frameworks for assessing the Environmental and Social Impacts of a geothermal development.

Successful development of Grenada’s geothermal energy potential holds the greatest prospect for transforming the state’s energy sector.  Against this backdrop, the Government of Grenada is grateful to the Governments of New Zealand and Japan for their financial and technical contributions, which to-date, have amounted to more than USD2M.  

Past Releases

 

 350 TAXES DUE FOR JUNE 2018

 

 352 SUBMISSION OF GOVERNMENT PENSION LIFE CERTIFICATES

 

  351 GOVERNMENT OF GRENADA TO AUCTION EC$ 15 MILLION 91-DAY TREASURY BILL ON ECSE

 

 350 NEW MINISTER OF FINANCE - STAFF ENGAGEMENT INITIATIVE

 

 349 COMMERCIALIZATION OF THE GOVERNMENT PRINTERY - A WIN-WIN SITUATION

 

   348 FINANCE MINISTER SAYS CUSTOMS OFFICERS ARE DIPLOMATS

 

  347 FINANCE MINISTER COMMENDS THE PROGRESS OF CSO

 

   346 GRENADA TO HOST - NATIONAL CONSULTATION ON DRAFT CARICOM COHESION POLICY

 

  345 MINISTER FOR FINANCE APPLAUDS THE EFFORTS OF THE IRD

 

  344 STAFF ROTATION KEY TO A MORE PRODUCTIVE PUBLIC SERVICE

 

  343 GRENADA TO HOST - NATIONAL CONSULTATION ON DRAFT CARICOM COHESION POLICY

 

   342 TAXES DUE FOR MAY 2018

 

   341 IRD OUTREACH OFFICE INITIATIVE

 

   340 FINANCE MINISTER MEETS PHYSICAL DEVELOPMENT STAFF

 

   339 MINISTER FOR FINANCE APPLAUDS THE EFFORTS OF THE IRD

 

     338 NEW MINISTER OF FINANCE - STAFF ENGAGEMENT INITIATIVE

 

   337 CARIBBEAN EXPORT DEVELOPMENT AGENCY

 

   336 GRENADA TO HOST “ACCESS TO FINANCE” SEMINAR AND “PITCH” COMPETITION

 

      335 LAST CALL FOR TAXPAYERS TO FILE AND PAY TAXES

 

   334 IRD EXTENDS OPERATING HOURS

 

     333 ADJUSTMENT IN "SEED" PAYMENT SCHEDULE FOR MARCH 2018

 

     332 GRENADA TO HOST OECS DATA DISSEMINATION WORKSHOP

 

     331 EC$ 15 MILLION 91-DAY TREASURY BILL

 

     330 MINISTRY OF FINANCE CORRECTS FAKE NEWS ON BOND ISSUE

 

     329 IRD EXTENDS OPERATING HOURS

 

  328 NATIONAL OZONE UNIT HOSTS NATIONAL CONSULTATION FOR STAKEHOLDERS - REFRIGERATION AND...

 

  327 REQUEST FOR PENSION CERTIFICATE

 

  326 GRENADA HOSTS REGIONAL SECURITY FOR AUTOMATIC EXCHANGE OF ...

 

  325 RENEWAL OF ANNUAL LICENCES 2018

 

  324 GENERAL NOTICE

 

  323 TAXES DUE FOR JANUARY 2018

 

  322 RENEWAL OF ANNUAL LICENCES 2018

 

  321 GREEN CLIMATE FUND MISSION TO GRENADA

 

  320 BOARD OF SURVEY- TUESDAY JANUARY 2nd, 2018

 

  319 SUBMISSION OF GOVERNMENT OF GRENADA PENSION LIFE CERTIFICATE

 

    318 TAXES DUE FOR DECEMBER, 2017

 

    317 TAXES DUE FOR DECEMBER, 2017

 

  316 STATEMENT FROM THE MINISTRY OF FINANCE IN RESPONSE TO EU BLACKLISTING OF COUNTRIES

 

  315 INCREASED INVESTOR CONFIDENCE IN GRENADA LEADS TO OVER-SUBSCRIPTION OF EC$48.56 MILLION IN TREASURY BILLS

 

    314 "SEED" PAYMENT SCHEDULE FOR DECEMBER 2017

 

  313 KITE FLYING - A MAJOR ISSUE FOR LIDAR TOPOGRAPHICAL SURVEY

 

  312 GRENADA SECURES ADDITIONAL US $58 MILLION IN DEBT REDUCTION

 

    311 CUSTOMS APPEALS COMMISSION ESTABLISHED

 

 

  310 BUDGET PRESENTATION 2018

 

 

  309 GREEN CLIMATE FUND APPROVES READINESS AND PREPARATORY SUPPORT PROGRAMME FOR GRENADA

 

 

  308 GOVERNMENT OF GRENADA RECEIVED XCD $4.36 MILLION DOLLARS FROM THE EUROPEAN UNION

 

 

  307 2017 LABOUR FORCE SURVEY COMMENCES

 

 

  306 TAXES DUE FOR SEPTEMBER, 2017

  

 

    

 

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