Montserrat is set to dig deeper towards an economic windfall it is hoping to gain by exploiting geothermal energy from the active volcano that has laid waste to two-thirds of the island.

The British Leeward Island territory has invited expressions of interests from developers, paving the way for their bids to exploit its geothermal resources, the Ministry of Communications and Works announced on Wednesday.

"The Government of Montserrat wishes to explore private sector interest in the confirmation and development of the potential geothermal resource on the island," according to the government announcement.

The government is eyeing the potential of the superheated earth to replace fossil fuels in meeting the island's peak electricity demand of under two megawatts, although there have only been surface explorations and no drilling has been carried out, it said.

"The current electricity demand on the island, which has a peak of under two MW, is met with diesel generation and while a programme is underway to replace the existing ageing high-speed units, the early displacement of the need for continued expensive diesel generation is of key interest," the government said.

The Reuben Meade administration said it would entertain "sound proposals" from the private sector to provide a reliable source of energy and "equitable benefits" for Montserratians at a "reliable and realistic" price.

According to government document, the government expects interested developers to finance the drilling phase to "prove the existence of an exploitable resource". The successful drilling company would earn the right to install generating plant to meet current and likely future energy demands.

"If a resource is proven then the executing entity would be provided the opportunity to install an appropriate generation facility to meet the island's current and anticipated electricity demand.

"The inherent project risks of any geothermal development are recognised," the government announcement continued. "The (Government of Montserrat) is willing to entertain sound and reasonably structured proposals; such offers should be from groups with established geothermal experience; proposals should be attractive to the private sector whilst providing equitable benefits for Montserrat, delivering a reliable and realistically priced supply of electricity."

It added: "The ability for those expressing interest in this project to demonstrate that they have existing sources of finance to undertake the drilling phase of the development is of key importance."

The government in Brades said it would seek public funding to drill for the geothermal energy assets, should the expressions of intereste fail to meet its requirements.

The 104-square-kilometre island's latest bid to fuel its energy needs from the Soufriere Hills volcano and its surrounding vents and springs that lie mostly in the uninhabitable exclusion zone, comes one week after Dominica won European Investment Bank (EIB) grant to begin exploring its geothermal energy potential for domestic use and export to neighbouring islands.

The Eastern Caribbean archipelago remains alive with volcanoes that tower above the ground and rumble beneath the sea. Experts have said geothermal energy resources could be tapped throughout most of the Lesser Antilles, from Saba and St Eustatius in the northern Leewards, south to Grenada in the Windwards.

The region has known several volcanic eruptions, the severest in 1902 in Martinique, 1979 in St Vincent and frequently since 1995 on Montserrat. The Soufriere Hills initial eruptions killed 19 people, buried its capital, Plymouth, and drove more than half of the approximately 12,000-strong population to nearby islands and the United Kingdom.

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