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.