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11.3.3 Strategy for engaging key stakeholders The government has actively engaged stakeholders and kept them up to date on the development of the proposed geothermal project. The prime minister and the proposed project partners have worked to keep the public informed of the most recent project developments. In addition to carrying out preliminary stakeholder consultations, there have been numerous articles in the local and regional newspapers with detailed information about the proposed project and its progress to date. The prime minister is quoted in numerous articles, which shows his commitment and active engagement in the project. If his support for the project continues, this will help facilitate its development and ensure that key government bodies support the project. In addition to its current efforts, the government should ensure that VINLEC is involved and updated on the project’s progress. This is particularly important because VINLEC will purchase the electricity generated from the project. Even though VINLEC is a government- owned agency, it is important VINLEC is involved and kept informed of any new developments because the development of the plant will affect VINLEC’s planning processes. VINLEC will also need to make sure that its contracts for purchasing diesel will allow it to transition to geothermal generation once the plant is online. To a large extent, this will require that VINLEC keep diesel suppliers up to date so that they can adjust imports accordingly. Lastly, it is important for multilateral development banks to be involved and be kept informed of the project because of their key role in the project. They are providing technical assistance and will provide the concessionary funding, which will be key for the project’s success. If the development banks are kept up to date, the funding could be made available more quickly. 11.4 Recommended Changes to the Legal, Institutional, and Regulatory Framework The government has announced that it is reviewing the legislation required to implement the proposed geothermal project.214 The government has not published this draft legislation, so we have not been able to review and evaluate the proposed legislation. However, at a minimum, the following major changes must be made to the legal, institutional, and regulatory framework to allow for the implementation of the project: • There should be a clear process for the geothermal power plant to obtain a license. The Electricity Supply Act of 1973 gives VINLEC the sole right to generate electricity and provides it with the power to issue sublicenses. If the government wants to issue a license to the geothermal power plant directly, it must amend the ESA. Regardless of who grants the licenses, there must be a clear process in place to apply for and to obtain a license. • The tariffs should reflect the cost of producing electricity with geothermal generation. The tariffs in Saint Vincent and the Grenadines are set by the prime minister and VINLEC, and pass on the cost of fuel to customers.215 The prime minister and VINLEC must adjust the tariff to reflect the costs of producing electricity through geothermal generation. More specifically, they must ensure that the tariff allows VINLEC to recover the full cost of providing service at least-cost, regardless of the technology or fuel in use, and that the tariff reflects any reduced costs of electricity generation. • Saint Vincent should establish a clear framework governing geothermal resources. Saint Vincent must have a legal framework that assigns ownership of geothermal resources, establishes a process for granting licenses to develop geothermal resources, and assigns responsibility for monitoring geothermal resources to a government body. One possible way to establish this framework is to approve the draft Geothermal Resources Exploration and Development Bill of 2012, which was developed with funding from the Caribbean Sustainable Energy Program. The Geothermal Bill is currently under review.216 214. “St. Vincent Geothermal Power Plant Could Be Operational by 2018,” Caribbean 360, September 1, 2014, accessed November 10, 2014, http://www.caribbean360.com/news/st-vincent-geothermal-power-plant-could-be-operational-by-2018. 215. “Energy in St. Vincent and the Grenadines,” The Vincentian, accessed November 12, 2014, http://thevincentian.com/energy-in-st- vincent-and-the-grenadines-p2747-107.htm. 216. “St. Vincent Geothermal Power Plant Could Be Operational by 2018,” Caribbean 360, September 1, 2014, accessed November 10, 2014, http://www.caribbean360.com/news/st-vincent-geothermal-power-plant-could-be-operational-by-2018. 94PDF Image | Unlocking Geothermal Power Eastern Caribbean Powerhouse
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