A Memorandum of Understanding was signed on April 4, 2012 between the government of Dominica and the International Finance Corporation (IFC) for technical support and capacity improvements for the continued development of geothermal resources in Dominica.
The IFC, a subsidiary of the World Bank, has been working with the authorities from the inception of the island’s geothermal project. The IFC will provide advisory services and other assistance to the Government of Dominica which will help pave the way for the effective management of the geothermal project in Dominica
Energy Minister Rayburn Blackmoore described the partnership with the IFC as critical to the development of the geothermal project.
“The signing of the MOU demonstrates the commitment of the IFC and that of the Government of Dominica in forging the kind of partnership that will help develop a road map to ultimately take this project to where it ought to be.”
“If [the] geothermal [project] is to make sense to us in Dominica we must go beyond drilling of the test wells and even beyond the actual establishment or installation of a small plant for our own local use. [We need] to go beyond that and look at the commercial aspects as to where the country itself can really derive its economic benefit and add a new contributor to our gross national product.”
The minister added, “In order to develop [the] road map [and] to have a bankable project, we need to get the people with the requisite skills and talents. We believe that forging this relationship and partnership with the IFC can get us to this level.”
Last month the government made available a report on the completion of drilling on two test wells at Laudat.
Minister Blackmoore said then that the progress made meant that Dominica was moving closer to realizing its geothermal potential.
Government signed a contract to the tune of $17-million last year for the exploration of geothermal energy in the Roseau Valley.