The Government of Dominica has secured the US$46 million to establish a company that will build a 7 MW geothermal plant over a 2 year period. The company will act as a Special Purpose Vehicle (S.P.V) to finance the construction of the plant, which will sell power to DOMLEC – the Dominica power utility. Interest, by the government, in selling at a low price point to DOMLEC reflects the desire to keep costs low for consumers, as the utility will pass on to them any tariff from the PPA. The plant itself will be constructed in 2 stages of 3.5 MW each. The potential to export energy, generate revenue and create employment through geothermal development are among benefits that justify the use of moneies from the Citizenship by Investment fund. Technical assistance from the New Zealand government and the Clinton Climate Initiative helped to enable this project
Read the full project here.
