World Bank to support geothermal exploration at Saint Lucia, Caribbean
Prime Minister of Saint Lucia, Hon. Philip J. Pierre during the launch event of the Renewable Energy Sector Development Project (RESDP) (source: YouTube screenshot / NCPC St. Lucia channel)
Carlo Cariaga
Nov 4, 2022
The World Bank has launched the Renewable Energy Sector Development Project that aimsvise to support geothermal development and deriskingréduction des risques in Saint Lucia.
The World Bank has launchedlancé, initié a program that will support geothermalgéothermique development in the island nation of Saint Lucia throughpar le biais multi-partner financing of exploration and strengtheningrenforcement of the legal and regulatory frameworkcadre réglementaire for clean energy integration.
Joining the World Bank in the Renewable Energyles Énergies Renouvelables Sector Development Project (RESDP) program are UK’s Foreign, Commonwealth, and Development Office, the Canada Clean Energy and Forests Climate Facility, and the Climate Investment Fund.
Although fundingBien que le financement for this program was initially approved in 2021, it was officially launched on November 3, 2022 at an event heldun événement organisé in Soufriere. As part of the launchDans le cadre du lancement, the areasles secteurs, les zones of Saltibus, Belle Plaine, and Fond St. Jacques were cited as potential project locations.
This program will support Saint Lucia’s goalobjectif of achieving reduction in greenhouse gas emissions and help the nation reduce its reliancedépendance on costlycoûteuse and volatile fossil fuelcombustibles fossiles imports amidstdans un contexte de high energy prices and increasedélevée, accrue climate vulnerability.
“The impact of high fuel expendituredépenses on Caribbean economies cannot be understatedsous-estimé. In 2020, St Lucia’s fuel imports accountedreprésentaient for 4.4% of GDPLe sigle GDP, Gross Domestic Product, se traduit par PIB (produit intérieur brut). Il s'agit d'un indicateur qui mesure la richesse totale produite par un pays, et sa consommation, en y ajoutant les exportations et en en déduisant les importations. and we cannot overlooknégliger the utility of channellingrediriger these fundsfonds to other critical sectors, for example, into education and health. Exploring geothermal potential in St Lucia gives the country the ability to build its energy independence, increase resilience and reduce the environmental impact of GHGGreenHouse Gas, c'est à dire, GES Gaz à Effet de Serre emissions.” said World Bank Director for the Caribbean Lilia Burunciuc.
“The currentactuelle global energy predicamentsituation difficile should serve as a telling reminder to all stakeholdersparties prenantes, including the government, to hastend'accélérer the transition away from fossil fuels, towardsvers renewable sources of energy for Saint Lucia. And so, we are here today to make some progress in that area, with the clear intention to move this project forwardvers l'avant, to shapefaçonner the country’s future economic prospects”, said Prime Minister of Saint Lucia, the Honorable Philip J. Pierre, during the launch event.
A video of the RESDP launch event can be viewed below:
Source: World Bank
