Thursday, October 22, 2015

Banks provide financing for geothermal development in Eastern Caribbean

New $71.5 million loan and grant package, called the Sustainable Energy Facility (SEF), is approved by the Inter-American Development Bank (IDB) and the Caribbean Development Bank (CDB). Program will support geothermal and other sustainable energy development projects in the Eastern Caribbean.
In addition to about $42 million in grants and loans, about $29 million will be distributed for private sector electric utility projects and at least one government energy sector policy project. Geothermal power plants  could have aggregate capacity of approximately 60 MW, which would substitute the equivalent amount of diesel and heavy fuel oil currently used for base-load power generation. Read more at http://www.renewableenergyworld.com/