OECS Geothermal Roundtable Report Final Version

Geothermal energy has emerged as a priority for the OECS region as the scientific evidence suggests a strong potential to transform the regional energy landscape. Currently, seven OECS Member States are pursuing geothermal energy as part of their renewable energy mix. During an OECS Energy Policy Implementation Dialogue in March 2018 recommendations from the Member States were given to increase the support for geothermal energy development in the region.

The Organisation of Eastern Caribbean States Commission together with International Renewable Energy Agency (IRENA), The Caribbean Development Bank (CDB), the International Geothermal Association (IGA) and the World Bank organized the Geothermal Energy Roundtable and United Nations Framework Classification (UNFC) Training Course for Geothermal Energy on 5th -7th December 2018, in Saint Lucia.

The geothermal energy dialogue brought together key experts and decision-makers in geothermal energy from the region to help advance and initiate regional cooperation for geothermal energy. The discussions focused on the status of the OECS geothermal projects and the opportunities, challenges and underlying risks with a view to highlighting the risk mitigation and financing options. The dialogue was followed by a training workshop that introduced the UNFC classification and training work currently being undertaken by the IRENA, the IGA and the World Bank’s Energy Sector Mapping and Assessment Program (ESMAP), under the partnership umbrella of the Global Geothermal Alliance (GGA) coordinated by IRENA.

The UNFC Geothermal Specifications provided an insight in the harmonized framework to qualify estimates of geothermal energy extractable by a project based on key elements of economic viability, technical feasibility and confidence, in a globally consistent and informative manner for prospective users of the information. Promoting standardization in this context is critical for investors, regulators, governments and consumers as a foundation for informed prospecting and evaluation of development opportunities at project, company, and national level. The training workshop presented the UNFC geothermal specifications, and application examples (i.e., case studies) and made participants more familiar with UNFC principles and classification methodology and their benefits to the future geothermal market. The workshop provided valuable feedback, comments, and suggestions on the Geothermal Specifications, especially in the Caribbean context.