Investment in geothermal exploration in St Vincent expected to yield good returns

KINGSTOWN, St Vincent — Chief operating officer of Reh-Kjavik Geothermal Company in Iceland, Gunnar Gunnarrsson, has expressed confidence that investment in geothermal exploration in St Vincent and the Grenadines will yield good returns.

Speaking at the launch of the testing phase of the country’s national geothermal project, Gunnarrsson noted that contracts must be established to attract investors and lenders.

He said that these contracts must be in place before the company starts to spend money in drilling and building a power plant.

Gunnarrsson also said that the most significant benefit to be derived from the project is that the country would be producing its own energy.

The testing phase of the national geothermal project was launched on Friday, November 1, 2013.

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