The government of Dominica and the International Financial Corporation (IFC) on Wednesday signed a memorandum of understanding (MOU) for technical support and capacity improvements for the continued development of the geothermal resources in Dominica.
The IFC, a subsidiary of the World Bank, has been working with the authorities here from the inception of the island’s geothermal project.
Under the just signed MOU, Dominica is expected to receive US$250,000 in the first instance.
Energy Minister Rayburn Blackmoore has described the partnership with the IFC as critical to the development of the geothermal project, one that will help fashion “a road map to ultimately take this project to where it is ought to be.”
“If geothermal is to make sense to us in Dominica we must go beyond drilling of the test wells, and even beyond the actual establishment or installation of a small plant for our own local use,” the minister said.
He wants Dominica to “look at the commercial aspects as to where the country itself could derive economical benefit and we can add a new contributor to our gross national product”.
Last month the government made available a report on the completion of drilling on two test wells at Laudat.
Minister Blackmoore said then that the progress made meant that Dominica was moving closer to realizing its geothermal potential.
Government signed a contract to the tune of $17-million last year for the exploration of geothermal energy in the Roseau Valley.
well done
This is a bold move by this administration to venture into a project of this magnitude. When something is good say it is good.
Agreed.
Managed properly I think this can be very fruitful for our economy.
Something seems to be awry here. Since West Indies Power have the license to exploit our geothermal energy why does the Govt. have to go to external sources for financing? It begs the question whether West Indies Power are adequately capitalized to develop this resource. Only last year the Govt. of St. Kitts & Nevis had to guarantee a U.S.$.55 million loan for the same company, from the Exim Bank of the U.S.A., to facilitate the construction of their geothermal plant in Nevis. I hope we will not find ourselves in the same quagmire.
Good info.
This reminds me of the seemingly age old question in Dominica which is: What does the MOU state?
We’re only told that the government has signed agreements and MOU’s, but the stipulations don’t seem to ever be revealed to the general public.
Good move, good move…Just be sure it doesn’t stipulate inviting or letting gay ships in as any condition….they can be sneaky if you not paying attentionou know. (watch them in the left eye and Domlec in the right eye):-)