Tuesday, June 24, 2014

Montserrat:

Montserrat Hopes Geothermal Project Spikes Sustainable Investment Opportunities (Travel Agent Central)

Montserrat Drilling Site on the Flank of the Soufriere Volcano, Bastien Poux, EGS, Inc.
Geothermal energy is playing a key role in the transformation of the island, making a sustainable investment opportunity that much more attractive.

With the creation and successful testing of two geothermal wells, the foundation has been laid for a geothermal energy program. Future development of a third well is backed by the United Kingdom government, which is evidence of their continuing support of the rebirth of Montserrat.

Selected by the Montserratian government in October 2012, Iceland Drilling Company Ltd. began its search for geothermal energy on the island. The company created two geothermal wells between Weekes Village and Garibaldi Hill, located in the island’s exclusion zone. Previously a reminder of Montserrat’s past, the exclusion zone is now critical to the island’s future.

This visit-by-permit-only zone of the island is the location of Montserrat’s old capital city, the ash-laden town of Plymouth, a modern-day Pompeii now poised to become a major tourist attraction. In addition to revenue derived from tourism, the presence of geothermal energy in the region offers the opportunity for further economic growth.

Now, with geothermal coming on board soon energy prices will be significantly lower. The two geothermal wells will produce environmentally-friendly, long-lasting energy, sufficient to power the island in the near future. With forthcoming construction of a third well, it is anticipated a surplus of energy may be available.