Prime Minister Dr. Ralph Gonsalves says the Power Purchase Agreement (PPA) for the Geothermal Project is expected to be signed shortly.
The agreement will be signed by the St. Vincent Electricity Services Limited (VINLEC) and Emera Inc. and Reykjavik Geothermal.
Speaking on Friday at the reopening ceremony for VINLEC’s South Rivers Power Station, the Prime Minister said that up for signing shortly, too, is an amended Shareholders’ Agreement in which the government’s shareholding in the geothermal project increases to 49%, with 51% held by Emera Inc. and Reykjavik Geothermal.
The Government has indicated that this project will see the installation of 10 Mega Watts of geothermal energy in Saint Vincent and the Grenadines.
The coming on stream of this geothermal project will go a long way toward meeting this country’s commitment to reducing its greenhouse gas emissions.