Prime Minister Roosevelt Skerrit, addressing a private sector forum here last weekend, said that the funds will come from the controversial Citizenship by Investment Programme (CBI) through which foreign investors are provided with Dominican citizenship in return for making a significant investment in the socio-economic development of the country.
“We have invested millions thus far and will make a further investment of EC$45 million in the development of the geothermal plant. “I am sure you all look forward to the significant reduction in the cost of energy that will follow,” Skerrit said.
He said the audience the development of the plant “will be a positive impact on your businesses and this should also stimulate investments by others by establishing new businesses”.
Last December, Energy Minister Ian Douglas said Dominica was moving closer to harnessing geothermal energy.
He said the Dominica Geothermal Company had been registered, and planning of the power plant is progressing.
“We are moving ever closer to the vision of realizing power from our geothermal resources. The Dominica Geothermal Company has been duly registered, and plans for the construction of the power plant are progressing satisfactorily,” he stated.
“The government has invested further EC$15-million into this phase of the project. And we have commitments from our friends in New Zealand, the United Kingdom, the United Arab Emirates, and the World Bank, to assist us with the completion of this project.”
This follows a decision made by the Government to run the geothermal project as a company solely owned by the government and people of Dominica.
Skerrit said that the island should not also forget the “tremendous devastation” caused by Tropical Strom Erika in 2015 and that the rehabilitation efforts are being funded under the CBI.