PM calls for private sector to invest in the Geothermal Project

DOMINICA:  Hon. Prime Minister, Dr. Roosevelt Skerrit, has called for private organizations to invest in the geothermal project which he considers critical to Dominica’s development.
The Hon Prime Minister was speaking at the opening ceremony of a Sustainable Energy and Climate Resilient consultation on Monday April 18.
The Prime Minister stated that as a small island state, Dominica is often placed in a difficult position where the choice is either renewable energy investment or other major developments that are needed in the country.
He says also too often small island developing states need to borrow money to reconstruct after the effects of climate change. This has a negative effect on a country’s GDP as these funds could be invested in the local economy.
“We should never have a situation where our country should have to make a determination on whether we advance our renewable energy initiatives or divert the resources to other areas. The sustainable use of our natural resources are too critical to our survival for us to be forced to make a determination on whether we invest in geothermal energy or we reconstruct our roads. I believe that we should have sufficient access to the resources to allow us to do both simultaneously.”
The Hon. Prime Minister restated his commitment to the geothermal project as one of Dominica’s sources of renewable energy.
He continued that long term benefits to the country rests largely within the geothermal project.
“We have friendly partners who have indicated to us our financing; we have funds that have been pledged to us by the World Bank. It’s a matter for us now to conclude on this, whether we go with it on loan. The project will be pursued by the government whether it is with a loan or with a partner, I am saying that that project will be pursued by the people and Government of Dominica. I believe it is an opportunity for the private sector…local Dominicans, to be part owners by putting equity into this project and having a joint project between the Government and yourself.”
Swedish Ambassador to Dominica His Excellency, Claes Hammer, made a commitment to support Dominica’s efforts in geothermal energy.
He suggested possible funding sources for Dominica.