Geothermal watch: Bolivia project, Caribbean financing

Development of Bolivia's 100MW Laguna Colorada geothermal power project is due to pick up in the coming months as energy authorities define reference terms for the plant component.

BNamericas has learned that state power company Ende will review draft procurement documents that were prepared with the Japan International Cooperation Agency to hire the consultant that will carry out the plant's basic design.

The consultant will also accompany the bidding process, and supervise construction, installation and startup.

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Caribbean Development Bank president Warren Smith (on the left in photo) and Neven Mimica, international cooperation and development head at the European Commission, formalized an EU grant contribution of 12mn euros (US$14mn) to the Geothermal Risk Mitigation Programme for the Eastern Caribbean.

The program will support the development of up to 60MW of geothermal capacity in Dominica, Grenada, St Kitts and Nevis, Saint Lucia, and St Vincent and the Grenadines, the bank said in a statement.

The funds will be used "to provide investment grants at the exploration phase, as well as technical assistance to support capacity-building initiatives and studies that explore opportunities for, and the feasibility of, interconnection between islands to facilitate the export of electricity by geothermal energy producers," the bank said.