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9.2.1 The recommended PPP structure 57 9.2.2 The Fund should support the development of ongoing geothermal projects through PPPs 58 9.2.3 The total financing needs: the estimated costs of the PPP geothermal projects 60 9.2.4 The types of support and the phases of the Fund 61 9.2.5 The key risks of the strategy and the mitigation measures 63 9.3 Expected Economic and Financial Benefits of Implementing the Proposed Strategy 64 9.3.1 The geothermal projects generate net economic benefits to the countries and the region 64 9.3.2 The levelized cost of energy indicates that geothermal is competitive with many other types of generation 66 9.3.3 PPA rates required to make the projects financially viable are feasible to implement 70 9.3.4 The geothermal projects will reduce customers’ tariffs 71 9.3.5 The geothermal projects will improve national accounts 72 Part C: Development of Geothermal Resources in the Eastern Caribbean States 74 10 Overview of Geothermal Development in the Eastern Caribbean States 75 10.1 Overview of the Electricity Sectors in the Eastern Caribbean Countries 75 10.2 Status of Geothermal Development in the Eastern Caribbean Countries 78 10.2.1 Geothermal potential in the Eastern Caribbean countries 78 10.2.2 Progress in developing geothermal resources in the Eastern Caribbean 79 11 Saint Vincent and the Grenadines 81 11.1 Overview of the Electricity Sector in Saint Vincent and the Grenadines 82 11.1.1 The electricity market in Saint Vincent and the Grenadines 82 11.1.2 Key laws, regulations, and policies governing the sector 82 11.1.3 Institutional structure of the electricity sector 84 11.2 Status of Geothermal Development 86 11.2.1 Resource potential and development 86 11.2.2 Planned project 86 11.3 Recommended Financial and Legal PPP Structure 89 11.3.1 Structure of the PPP 90 11.3.2 Key risks and mitigation measures 92 11.3.3 Strategy for engaging key stakeholders 94 11.4 Recommended Changes to the Legal, Institutional, and Regulatory Framework 94 11.5 Economic and Financial Analysis of the Geothermal Project 95 11.5.1 Cost-benefit analysis 95 11.5.2 Financial analysis 96 12 Dominica 99 12.1 Overview of the Electricity Sector in Dominica 99 12.1.1 The electricity market in Dominica 100 12.1.2 Key laws, regulations, and policies governing the sector 100 12.1.3 Institutional structure of the electricity sector 102 12.2 Status of Geothermal Development 104 12.2.1 Resource potential and development 104 12.2.2 Planned project 105 12.3 Recommended Financial and Legal PPP Structure for Phase 1 108PDF Image | Unlocking Geothermal Power Eastern Caribbean Powerhouse
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