{"id":314828,"date":"2024-01-05T08:30:18","date_gmt":"2024-01-05T12:30:18","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=314828"},"modified":"2024-01-05T01:09:24","modified_gmt":"2024-01-05T05:09:24","slug":"henderson-ormat-technologies-committed-to-delivering-geothermal-power-plant-by-december-2025","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/henderson-ormat-technologies-committed-to-delivering-geothermal-power-plant-by-december-2025\/","title":{"rendered":"Henderson: Ormat Technologies committed to delivering Geothermal Power Plant by December 2025"},"content":{"rendered":"<figure id=\"attachment_309497\" aria-describedby=\"caption-attachment-309497\" style=\"width: 470px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-309497\" src=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2023\/10\/Dr.-Vince-Henderson-file-photo-e1696956299286.jpg\" alt=\"\" width=\"470\" height=\"266\" srcset=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2023\/10\/Dr.-Vince-Henderson-file-photo-e1696956299286.jpg 470w, https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2023\/10\/Dr.-Vince-Henderson-file-photo-e1696956299286-300x170.jpg 300w\" sizes=\"auto, (max-width: 470px) 100vw, 470px\" \/><figcaption id=\"caption-attachment-309497\" class=\"wp-caption-text\">Dr. Vince Henderson<\/figcaption><\/figure>\n<p>Minister for Energy Dr. Vince Henderson has said that Ormat Technologies Inc is committed to delivering the Geothermal Power Plant to Dominica by December 2025.<\/p>\n<p>He was speaking during the Eighth meeting of the First session of the Eleventh Parliament held recently where the Government of Dominica sought parliamentary approval to obtain a bank guarantee from the National Bank of Dominica for EC$ 13.5 million to secure the commitment for the construction of the Geothermal Power Plant.<\/p>\n<p>The project financing agreement is between the Government of Dominica and Geothermal Power Company of Dominica (2023) Limited, owned by Ormat Technologies, Inc.<\/p>\n<p>\u201cThe power purchase agreement, similarly DOMLEC [Dominica Electricity Services Ltd]\u00a0 will have to issue a letter of credit to Ormat to ensure that it can pay for the power that Ormat will be providing them with, but on the other hand Ormat will also be obligated to provide DOMLEC with a letter of credit for 3 million US dollars to ensure that they can deliver the power plant when they say they will,\u201d he explained.<\/p>\n<p>He continued, \u201cIn other words, Ormat has committed to deliver the power plant in 24 months of signing. That is to say by December 2025 we expect to have a power plant.\u201d<\/p>\n<p>Dr. Henderson added, \u201cIf they are unable to do that then DOMLEC would have to charge them for every day they are not able to provide power, because DOMLEC would have to get power elsewhere.\u201d<\/p>\n<p>He further explained that the power purchase agreement has to be approved by the Independent Regulatory Commission (IRC) on the electricity.<\/p>\n<p>He said the IRC is satisfied with the agreement and they will be the ones responsible for enforcing it.<\/p>\n<p>\u201cIn other words, they have to ensure that Ormat would be paid what the two parties agreed and to ensure further that DOMLEC will not add anything to that tariff that Ormat will be selling,\u201d Dr. Henderson explained. \u201cIn other words, Ormat has committed that based on the financing, they can sell electricity at about 12 US cents to 15 US cents. That will be finalized before the completion of the plant.\u201d<\/p>\n<p>He made it clear that once this is sold to DOMLEC, the sole electricity company cannot add anything to it, \u201cexcept the usual cost of getting your power to you.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Minister for Energy Dr. Vince Henderson has said that Ormat Technologies Inc is committed to delivering the Geothermal Power Plant to Dominica by December 2025. He was speaking during the Eighth meeting of the First session of the Eleventh Parliament&#8230;","protected":false},"author":13,"featured_media":309497,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[279,22,286,77,235,285,9,21],"tags":[],"class_list":["post-314828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-environment","category-governance","category-homepage","category-homepage-carousel","category-infrastructure","category-news","category-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Henderson: Ormat Technologies committed to delivering Geothermal Power Plant by December 2025 - Dominica News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominicanewsonline.com\/news\/homepage\/henderson-ormat-technologies-committed-to-delivering-geothermal-power-plant-by-december-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Henderson: Ormat Technologies committed to delivering Geothermal Power Plant by December 2025 - Dominica News Online\" \/>\n<meta property=\"og:description\" content=\"Minister for Energy Dr. Vince Henderson has said that Ormat Technologies Inc is committed to delivering the Geothermal Power Plant to Dominica by December 2025. 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