St. Lucia Qualibou Energy, a geothermal company focused on developing projects in the Caribbean, announced today that it is getting closer to financing the first phase of a project on the island of St. Lucia.
The first phase will be 15 MW and will require $60 million of capital. The site on which Qualibou is developing has the potential for 170 MW of capacity.
The company plans to close on the debt portion of the financial package by the end of the third quarter.
“The goal of the drilling program is to have 15 Megawatts of energy at the wellhead,” said CEO Stephen Baker. “This is in line with our requirements to meet projected deliveries of electricity to LUCELEC, the power utility of St Lucia.”