NewEnergyNews: GEOTHERMAL SEEKS CARIBBEAN BREAKTHROUGH

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    Friday, August 22, 2014

    GEOTHERMAL SEEKS CARIBBEAN BREAKTHROUGH

    The Caribbean Goes Geothermal

    Melissa Pandika, August 19, 2014 (USA Today)

    “…The Caribbean’s real treasure might be buried deep, deep underground…[T]he Antilles, lesser and greater, has emerged as a hub for geothermal energy exploration. Nevis and St. Vincent are soon to host private geothermal investment projects. The European Union recently awarded Dominica a $10.3 million grant to jump-start geothermal energy development. And on the eastern Caribbean island of Montserrat, geologists are using cutting-edge techniques to map the rocky subterranean surfaces…If the region can harness the power of its heat — and it’s a big if — a nearly endless supply of energy could reward it. That, in turn, would free up billions of dollars Caribbean countries spend importing diesel, which fuels most of its power plants…But tapping it is costly and risky, just like drilling for oil can be. Companies can spend millions of dollars on drilling a well only to find it empty. Small regional markets make it hard enough to attract the private investment needed to drill...That’s where the maps come in. Lessening the risk of drilling a well could lead to wider adoption of geothermal energy, and could spawn big opportunities besides…” click here for more

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