OECS Commission Marks World Geothermal Day

OECS MEDIA RELEASE
​​
​October 18 2024 - The Organisation of Eastern Caribbean States (OECS) Commission yesterday marked World Geothermal Day, highlighting the region's significant strides in harnessing this sustainable energy source. The occasion also serves as a prelude to the upcoming Third Council of Ministers: Energy under the theme "Sustainable Energy: Creating Opportunities for Reinventing the Economy of the OECS", scheduled to be held at the St. Kitts Marriott Resort in Basseterre, on November 5-6, during CARICOM Energy Month. 

The OECS region, blessed with abundant geothermal resources, is actively pursuing the development of this clean, renewable energy through the OECS GEOBUILD Programme. This initiative exemplifies regional integration in action, building capacity for geothermal energy utilisation, investment, and local development across five participating Member States.

Dr Didacus Jules, Director General of the OECS said:

"World Geothermal Day provided an excellent opportunity to reflect on our progress and reaffirm our commitment to sustainable energy solutions. The OECS GEOBUILD Programme is transforming our energy landscape, demonstrating how regional integration can address shared challenges and create new opportunities for our citizens."

The upcoming Council of Ministers meeting will receive comprehensive updates on regional geothermal projects, including advanced developments in Dominica and promising prospects in Grenada, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. Ministers will also discuss broader renewable energy initiatives and strategies to accelerate the region's transition to sustainable power sources.

Dominica is set to transform its economy and push ever closer to reaching its goal of being fully powered by renewable energy with the construction of the first geothermal power plant in CARICOM. The 10-megawatt plant in the island's huge geothermal field at Laudat in Roseau Valley is expected to provide as many as 23,000 homes with clean energy by the end of 2025.

Guadeloupe, an OECS Member State, has been a pioneer in geothermal power in the region since 1986. The country's power plant, located at Bouillante on Basse-Terre Island's west coast, began with a modest 5-megawatt capacity. In 2003, a 10-megawatt generator was added, tripling the output. A third expansion is underway, set to boost total capacity to 25 megawatts. This is significant given the fact that although geothermal energy could potentially provide several benefits to islands, geothermal project development on islands is still limited globally.

Judith Ephraim-Schmidt, Programme Director for the OECS Commission’s Sustainable Energy Unit said:

"The Third Council of Ministers: Energy comes at a crucial time as we intensify our efforts to achieve energy independence and mitigate climate change impacts," ​ "Geothermal energy, alongside other renewables, is key to reducing our reliance on imported fossil fuels, potentially lowering electricity costs, and fostering investments and economic growth across our member states."

The OECS Solar Challenge and E-Mobility initiative will also feature in discussions. The Solar Challenge aims to ramp up solar energy adoption, targeting the installation of at least 6.5 megawatts of new solar photovoltaic capacity in the Eastern Caribbean. The E-Mobility initiative focuses on transitioning to electric vehicles, installing necessary infrastructure, and providing policy guidance for decision-makers in Member States, all of which are small island developing states (SIDS) on the frontline of the climate crisis.

END

Note to editors:

An invitation to media representatives to access coverage of the opening ceremony of the meeting through live streaming will follow in a subsequent News Advisory.

VIDEO: Public Service Announcement: OECS GEOBUILD Countries

About World Geothermal Day

World Geothermal Day is celebrated annually on October 17 to promote awareness and appreciation of geothermal energy and its benefits. This day serves as a global platform for individuals, organizations, and communities to engage in activities that highlight the positive impacts of geothermal energy, including tours, discussions on new technologies, and advocacy for geothermal inclusion in energy legislation at various levels. The date was chosen to commemorate the thermal eruption of Mt. Vesuvius in 79 AD, linking the historical significance of geothermal heat to modern energy discussions]. Participants can engage actively by organizing events or passively by following activities on social media using the hashtag #WorldGeothermalEnergyDay*]. The day aims not only to celebrate geothermal energy but also to inspire ongoing innovation and collaboration in this field. #WorldGeothermalDay

About OECS GEOBUILD:

The Geothermal Energy: Capacity Building for Utilization, Investment and Local Development (GEOBUILD) Programme of the OECS Commission is dedicated to enhancing technical capacity and fostering collaboration for geothermal energy development in the participating OECS Member States. Funding resources come from the Caribbean Development Bank (CDB) through the Inter-American Development Bank (IDB), and European Union-Caribbean Investment Facility (EU-CIF). The total cost of the project is US$3.1 million for a period of three years ending in 2025.

The Caribbean Development Bank (CDB):

The Caribbean Development Bank (CDB) is a development institution or bank that assists the Caribbean countries, called Member Countries (MCs), finance social and economic programs and projects in these member countries. CDB was established by an Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970. The permanent headquarters of the bank is located at Wildey, St. Michael, Barbados. On September 21, 2018, the Bank officially opened its Country Office in Haiti, the first outside its Headquarters in Barbados. The Barbados headquarters serves all the regional borrowing member countries with staff recruited from its member countries.

CDB's membership of 28 countries consists of 19 borrowing members, four regional, non-borrowing members (Brazil, Colombia, Mexico, and Venezuela), and five non-regional, non-borrowing members (Canada, China, Germany, Italy, and the United Kingdom).

The CDB received funding for the GEOBUILD project through the European Union - Caribbean Investment Facility (EU-CIF) and the Inter-American Development Bank (IDB).

The European Union - Caribbean Investment Facility (EU-CIF)

Established in 2012, the Caribbean Investment Facility (CIF) is one of the European Union’s regional blending facilities, aimed at contributing to economic development and growth, regional integration, poverty reduction, and environmental protection through the mobilisation of resources for strategic economic infrastructure projects and for support to the private sector.

CIF acts as a catalyst to mobilize funding for development projects by combining EU grants with financial resources from European and regional financial institutions, governments, and the private sector.

Currently, CIF is financing projects in key sectors that are essential for the achievement of the Sustainable Development Goals (SDGs), such as renewable energy, water and wastewater systems, sustainable transport, environment, information and communication technology, health, education and other social services, and support to small and medium-sized enterprises (SMEs).

CIF has three main interconnected and mutually reinforcing strategic objectives:

The Inter-American Development Bank (IDB):

The IDB works to improve lives in Latin America and the Caribbean. Through financial and technical support for countries working to reduce poverty and inequality, it helps improve health and education and advance infrastructure. Its aim is to achieve development in a sustainable, climate-friendly way. With a history dating back to 1959, today the IDB is the leading source of development financing for Latin America and the Caribbean. It provides loans, grants, and technical assistance; and conducts extensive research. The IDB maintains a strong commitment to achieving measurable results and the highest standards of integrity, transparency, and accountability.

The IDB prioritizes social inclusion and equality; productivity and innovation; and regional economic integration in its development work across Latin America and the Caribbean. In doing so, it addresses the cross-cutting issues of gender equality and diversity; climate change and environmental sustainability; and institutional capacity and the rule of law. [https://www.iadb.org/en/about-us/]