As Dominica’s Parliament prepares for a significant discussion on Friday December 29, 2023, about a resolution to authorize a bank guarantee, Lennox Linton, the former opposition leader and ex-parliamentary representative of the Marigot constituency, is voicing concerns and queries.
Linton has expressed scepticism about the government’s move to obtain parliamentary approval for a significant bank guarantee of EC$ 13.5 million from the National Bank of Dominica (NBD). He believes that this approval signifies the government’s acknowledgment of a performance risk linked to the financing, construction, and operation of a 10 megawatt geothermal power plant in Laudat. He asserts that this risk has not been revealed to the public.
On December 29, 2023, the parliament of Dominica will assemble for the year’s final meeting. The focal point of this session will be the proposal put forth by Dr. Irving McIntyre, Minister for Finance, Economic Development, Climate Resilience, and Social Security, requesting authorization for a bank guarantee exceeding EC$ 13 million from the NBD for the construction of the Geothermal Power Plant.
A release from the Office of The Prime Minister states that the guarantee is crucial in obtaining the necessary commitment for the Geothermal Power Plant’s construction, as specified in the project financing agreement between the Government of Dominica and Geothermal Power Company of Dominica (2023) Limited. The release mentions that this agreement, established with Ormat Technologies, Inc. of Nevada, United States, on December 5, 2023, is a significant pact.
“It details the financing, construction, and operation of an innovative 10-megawatt Geothermal Power Plant in Laudat, without imposing any financial strain on the Government,” the release continues.
The release also emphasizes that under this agreement, the fully functional plant will be handed over to the Government of Dominica after 25 years.
“The Government of Dominica is nearing the final stages towards commercial operations after drilling seven geothermal wells in Laudat, Wotten Waven, and Trafalgar and procuring geothermal resources…capable of supporting 10 megawatts of electricity generation in Laudat,” the release stated. “The Government has also sanctioned the design for the construction of a new efficient and resilient electricity transmission network from the Roseau Valley to Fond Cole, connecting the geothermal power plant to the hydroelectric power plant and to the national grid.”
However, the former opposition leader argues that this government action is fraught with risk.
“In other words, with respect to the building, and operating the 10-megawatt geothermal power plant at Laudat, the government is confirming a performance risk of $13.5 million and is therefore seeking the approval of Parliament to bind the state to meeting this financial liability,” Linton commented.
“The risk is undeclared,” he stated. “We do not know what performance the government is obligated to in order to ensure fulfilment of the contract with Ormat Technologies and this risk needs to be disclosed.”
He underscored the necessity for transparency in revealing the nature and scope of this financial risk. “The meeting of Parliament tomorrow that will debate the resolution for authorization of a bank guarantee must be clear to the people of Dominica on what exactly the risk is that justifies this performance bond.”
Linton, while highlighting the government’s investment in geothermal exploration and development, referred to the efforts made in drilling seven geothermal wells across Laudat, Wotten Waven, and Trafalgar. “We are at the point of setting up for commercial production, and yet we find ourselves lacking the necessary funds for this critical national undertaking,” he lamented.
The former opposition leader raised concerns about the management of Dominica’s Citizenship By Investment (CBI) programme. He pointed out that despite generating $6.4 billion from the sale of citizenships over seven years, the country still needs $80 million from a foreign company to build and operate a plant for 25 years. This company, he said, is expected to recover its investment and make over $200 million in profits.
Linton questioned the need for the National Bank of Dominica (NBD) to secure a government performance bond, especially considering the bank’s existing $125 million loan for election year spending. He suggested that the required collateral deposit of $13.5 million should come from the CBI funds which are currently held in overseas accounts.
He noted that $13.5 million was previously allocated monthly from passport funds for the construction of the International Airport. Despite this, and the ongoing construction of a $1.3 billion airport funded directly from the Treasury, there are concerns about the lack of $80 million for the geothermal plant’s construction and the $13.5 million to guarantee the government’s obligation.
In conclusion, Linton questioned the whereabouts of the funds from the sale of citizenships and expressed concern about their accessibility and utilization.
As Parliament gears up for this crucial session, he called for clarity and accountability in the government’s financial decisions and utilization of national resources.
@ds (dog scatology)
Your idiotic comments show that you are an unlearned juvenile in the body of an octogenarian. Your mental age and your chronological age are polar distances apart.
You boasted about you and your two daughters having multiple degrees. Your went shopping online from a uncredited college.Roosevelt has a double doctorate too. Pathetically, both are as bogus as your five.
For the record, Mr. Lennox Linton is a well respected journalist regionally and internationally. The man has proven himself to be very knowledgeable, cultivated, discerning, articulate, constructive, genuine and talented. He is the most outstanding prime minister Dominica has never had.
Strangely you cannot take my degrees away from me and those from my daughter. She has a professional white-collar job making big money. We both earned our degrees. Are you mad because Ugly Lenny does not have one? I do not like watching Ugly PMs.
The days of Ugly Idi Amin of UGANDA are over. We need more of Maurice Bishop.
And will never have. Dominica already has so many problems as you say. Why add insult to injury electing an Ugly Lenny as the next PM the world knows nothing about. I could have gotten you one online for your Christmas if you had told me earlier. As a matter of fact, I could have bought u one at Macy’s in the men’s department, nicely framed and decorated. If you could call Lenny an outstanding PM we have never had, I would swear you never attended High School or you did but was expelled in Form 2 as was Ugly Lenny. Somehow, I think you a jiggalo and Lenny is a pimp. Just as a matter of interest, my degrees were signed by Christine Gay, the now resigned President of Harvard University. Had she lashed out at Lenny instead of the Jews, she would have been still at Harvard.
Lennox Linton lived in Belfast for years.He worked at DCP for years.Lennox Linton CANNOT campaign in the Mahaut constituency and cause UWP to win that seat.As a matter of fact Lennox Linton is an obstacle in all constituencies except Marigot and Salisbury,when it comes to UWP winning seats.His chances of becoming Prime Minister is like a snowball surviving in hell.
Skerrit told Lennox Linton to come in de ring.
Lennox was de host of a radio talk show
Lennox joined UWP and was voted Political Leader……Lennox actually took the party from 18 – 3 to 15 – 6 seats….increasing de opposition representation in Parliament.
That record is there and and it’s part of our proud history
who you trying to fool
Lennox led a march of thousands of Dominicans through de streets of Roseau demanding answers from Skerrit about our $1.2 billion debt…even government workers paused to check out what de rant was out on de street that day……by de way remind Skerrit that de financial secretary and de accountants have so far failed to embarrass Linton and put him to shame over de real figures of our national debt.
Lennox as leader won seats for the party……Skerrit and other clowns have good reason to fear him!
You know, Ugly Lenny is never pleasant to look at nor pleasant to watch nor listen to. Something also about his nose which reminds me of the International Airport being built in Wesley. It seems to me that Maurice Bishop was the only handsome, magnetic, charismatic Caribbean Leader in this century. All we have is an Ugly Opposition Leader with no title. All he does is mind people’s business and cause Anarchy and Ibo calls it investigative journalism – His name is Ugly Lenny.
I don’t like his politics either, but the word ‘ugly’ and the ‘nose’ thing you bring up is so vatican. I hope you’re not a f negro, and I know exactly when to use that term if one is so backwards thinking in this day.
It is so old colonial-era put down we were taught that if a noise isn’t thin&pointy it’s ugly. It’s 2024 already. You should have already read a book on the issue.
That’s exactly why the word ‘Egyptology’ was invented by the vatican after Europeans invaded North Africa and archeologists kept discovering Pharoah after Pharoah, Egyptian after Egyptian with wide noses, Sphinx etc.etc; which explains why today you see all the African statues and terracotta with broken noses. They still can’t stomach it.
Nor can they figure out how 20-ton granite rocks from 500 miles away got placed 43 stories atop pyramids in mankind’s greatest civilization that lasted over 43000 years before Arabs and Europeans k*lled it.
Like the person with the moniker ‘Anger’, I have an extreme!y high regard and opinion of Mr. Lenox Linton. He is, in my honest opinion, the only legitimate investigative journalist in Dominica.
Socially, politically and economically, Dominica is in dire straits. The majority of the citizenry are living below the poverty line; political corruption is rampant; the economy is on death row. Yet, Dominicans have allowed themselves to be misled for twenty years by a dishonest, lying, incompetent buffoon when they have a superior alternative in Mr. Linton, an erudite, articulate, fair-minded, trustworthy, ethical, visionary leader.
The country is already drowning in debt. Most of its revenue is used to service this albatross. This $13.5M from the CBI scheme would be like a bucket of water from the Amazon River. Why not use this fund?
The local mainstream media houses do not dare to touch this topic. It takes the fearless patriot, Mr Lennox Linton, to enlighten us.
Lennox, as ever, is absolutely right. We are constantly fed half truth by this government. After 150 million of investment (Skerrits own words) why do they require a 13.5 million bank guarantee. This is a bloody joke. Nothing but. By the way I saw yours truly with his Missus and two offspring in Barbados Airport on Wednesday on their way back to DA. Nobody knew he left state. I guess just another family jolly at the expense of the state coffers. Dominica can’t afford a royal family, that’s why we have to look for bank guarantees now??
it appears to me that the company is either sharing the risk with the government or making them take the risk while they take the profits
It still isn’t clear if the government will be a part owner of the plant during the initial 25 years. In other words, will they be sharing in the profits given the amount of money spent so far and the loan guarantee.
As Linton stated, we don’t know the details of the arrangement for what the company expects to earn on their investment.
In typical Skerrit fashion, for a guy who does not want oversight on what he does, this arrangement is very murky, to say the least.
Dominicans where your brains, all those degree people, electricity cost will rise under geothermal when u have a foreign company to build and operate a plant for 25 years. This company, he said, is expected to recover its investment and make over $200 million in profits.
$200 million in profits and u expect electricity rates to drop, we own domlec but we still beholden to another foreign company, more high costs on Dominicans
“ ‘In other words, with respect to the building, and operating the 10-megawatt geothermal power plant at Laudat, the government is confirming a performance risk of $13.5 million and is therefore seeking the approval of Parliament to bind the state to meeting this financial liability,’ Linton commented.”
Thankfully, this guy never got even near the throne of Cabinet! Pheww!!
@Putin
You simply lack understanding. You are wallowing in idiocy!
It’s very sad that you chose Putin who is so brilliant as your name.
what did I hear about NBD and smooth transition to Bank of America what is this about.
I missed the announcement. I might be overreacting but can I get someone to say what the announcement said.
Another question. Why this guy, his strategy has already cost us 20 unproductive years, why not Fontaine running those queries?
I thought we finally own 52% and will call the shots to be able to save on electricity rates, suddenly is a foreign company.
So, what’s the 25 years, why not 30 to 50 years when all today’s adults will be 50 to 100 years old, and the hemorrhaging of million$ seems to have just begun? anyone knows?
My brother Linton I do not know what else to say of you. Thank you my brother. Thank you for your one man effort to SAVE our beautiful country from these vagabonds who call themselves ministers. My brother people may say whatever they say but when Dominica will be saved it will be for everyone. Your effort will not be in vain. Trust yourself. It will not be in vain.
Another 13.5 million dollars again for the geothermal plant? If this continues Skerr will be the end of Dominica. He’s literally driving us to the ground. Yet there are idiots who keep on bawling “5 more years”. Oh my gosh. How foolish and dysfunctional can we be (as a society) to not see that Skerr is a blight on the country.