Dominica’s race to geothermal is speeding up with the latest injection of US$16m/EC$45m towards the project, as announced by the Hon Prime Minister and Minister for Finance, Dr. Roosevelt Skerrit, speaking at a private sector forum at the Fort Young Hotel last Friday.
Already having committed $15m, and with contributions expected from other financial institutions, Dominica is making meaningful progress towards power sourced from underground.
Hon Skerrit says the success of this project will have a positive impact on the private sector.
“We have invested millions thus far and will make a further investment of EC$45m in the development of the geothermal plant. I am sure that you all look forward to the significant reduction in the cost of energy that will follow. This will be a positive impact on your businesses and this will also stimulate investments by others in establishing new businesses.
This cash injection is through the Citizenship By Investment programme.
