Dominica Hosting International Conference as it Seeks to Develop Geothermal Energy Sector
ROSEAU, Dominica – Dominica is hosting an international conference on Tuesday hoping to mobilize significant funds for the development of its geothermal energy sector.
Energy Minister, Dr. Vince Henderson said this is an initiative set up by the government and the International Renewable Energy Agency (IRENA) together with the United States Department of State and partners in the United Nations.
“We have brought together a coalition of partners, including the government of Iceland, the World Bank as one of our premier partners and the source of most of our technical support. So we have brought these partners together to discuss how the international community can assist…Dominica with realizing its dream of geothermal energy development”.
Henderson said while he would not want to put a financial tag on the outcome of the conference, Dominica is already undertaking two separate activities to ensure the success of its geothermal project.
“We are constructing a geothermal power plant in Laudat (a small village in the interior of the island) and thank God we have done all the preliminary works. It is now really to construct the power plant, we have drilled the wells, we have tested the resources, we have designed and developed the plant so it is just…a significant investment of EC$60 million (One EC dollar=US$0.37 cents).
“We have a development partner ready to develop this project, ready to finance this project, but what we are doing is seeking to mobilize our partners at the Caribbean Development Bank, who will be here as well and other partners to assist us”.
Henderson said Dominica is also looking towards the Caribbean Community (CARICOM) Development Fund “ so that they can assist us with concessional funding to ensure that the rate payers in Dominica can get the lowest possible tariff.
“So we have brought these partners in to hear about our plans. But we have also brought the partners in to hear about the second part of the project which is the construction of transmission lines, moving from Laudat to Fond Cole, on the outskirts of the capital.
“Fortunately we have already secured the funds for that…so that is not what we will be asking them to commit to. But the second art of the transmission system which is from Fond Cole to Sugar Loaf in Portsmouth , north of here, with a heavy price tag to ensure that we build a resilience line as much undergrounding as possible, sturdier towers than can withstand high winds….”
He said Dominica is looking at mobilizing almost US$50 million for that aspect of the project and “ensure that consumers don’t have to pay for that.
“We have so far been able to bring together organizations that assist in related projects…and we have gotten some initial commitments from them,” Henderson said, reiterating that he does not want to provide any figure as it relates to funding.
“But so far with the partners I have mentioned, IRENA, United States State Department, all the partners we have brought in….are assisting us to get grant funding, I must say…we are looking at two set of financing, one concessional financing with very low interest rates, favorable repayment terms and grant funding,” Henderson added.
