Over Twenty million dollars have been financed to Dominica which will gear-towards the first World Bank Group Funded Geothermal Project in the Caribbean in 30 years.
Speaking at the official signing agreement ceremony on Friday May 3, Regional Director for Latin America and the Caribbean Region, Tahseen Sayed Khan described the event as a “stepping stone moment” in achieving the Government’s goal to ensure that Dominica becomes the first climate resilient country.
Following Hurricane Maria, 75 percent of the Island’s power network was damaged which left the country without power for months. This project amounting to approximately 27 million dollars includes the construction of a 7 Megawatt, (MW) geothermal domestic power plant.
Statistics have shown that the cost of electricity on island is among the highest in the world, which is why Khan believes that geothermal is most cost-efficient, climate resilient and greener.
Meanwhile Prime Minister Roosevelt Skerrit says, “Although this is the fourth agreement that Dominica and the World Bank have signed since devastating Hurricane Maria, this signing agreement today is another testimony in the Government’s commitment towards the development of geothermal energy in Dominica.”
The Government is expected to engage in a number of activities in the upcoming few weeks, including selection of contractors; an employment opportunity for the country.
Mr. Skerrit also expressed that the project is an example of how development partners working together with government can collaborate to bring important development programs to reality.
The land acquisition and finalization of the power purchase agreement with DOMLEC is expected to be completed in the process.