Roseau, Dominica – December 28, 2023
In a significant development for Dominica’s energy landscape, Parliament is set to convene on Friday, December 29, 2023, at 10:00 a.m. at the House of Assembly.
The focal point of this session will be a motion presented by Hon. Dr. Irving McIntyre, the Minister for Finance, Economic Development, Climate Resilience, and Social Security.
The motion seeks authorization for a bank guarantee to underpin the commitment outlined in the project financing agreement between the Government of Dominica and Geothermal Power Company of Dominica (2023) Limited, a subsidiary of Ormat Technologies, Inc., based in Nevada, United States.
The historic agreement, inked on December 5th, 2023, outlines Ormat Technologies’ commitment to finance, construct, and operate a cutting-edge 10-megawatt Geothermal Power Plant in Laudat. Crucially, this initiative comes at no cost to the Dominican government. Upon the completion of 25 years of operation, the fully operational plant will be transferred to the Government of Dominica.
The parliamentary approval sought is for a bank guarantee from the National Bank of Dominica, totaling EC$ 13.5 million. This financial backing is intended to secure the commitment required for the construction of the Geothermal Power Plant.
Dominica has made significant strides in advancing the project, including the drilling of seven geothermal wells in Laudat, Wotten Waven, and Trafalgar. These efforts have successfully identified a geothermal resource capable of supporting 10 megawatts of electricity generation in Laudat. Furthermore, the government has given the green light to the design of an efficient and resilient electricity transmission network. This network will stretch from the Roseau Valley to Fond Cole, connecting the geothermal power plant to the hydroelectric power plant and integrating it into the national grid.
The upcoming parliamentary session marks a crucial step in the realization of Dominica’s commitment to sustainable and resilient energy solutions. For updates on this pivotal development and more, stay tuned to Nate Media.
