Dominica Will Have To Reconsider The Planned Geothermal Project
/In 2019, a tender was opened for the construction of a geothermal power plant. As a result, three proposals were received, but the bids were significantly over budget in terms of cost.
The problem now, Prime Minister Roosevelt Skerritt said, is that all bids were significantly higher than the estimated cost of building the plant.
Despite the fact that enough money was received based on the estimates of the World Bank, European Union and SIDS DOCK, the estimated cost exceeds the available funds.
Discussions are still ongoing, but it is possible that the tender will be terminated and the project revised.
Since the inception of the project in 2011, more than $50 million has been invested.
“Drilling was officially concluded in 2015 entering the stage for the development of a power plant on site. Back then there were discussions over a joint venture with French investors that would have seen exports from the plant to Guadeloupe and Martinique, French territories in the Caribbean. In 2016, the government decided to remain in control of the project via a solely government-owned company. It also committed to $15 million in investment through the Citizenship by Investment Programme. In 2016, Dominica and New Zealand signed a partnership agreement for the planned 7 MW geothermal power plant." - writes the Think Geoenergy resource.
