Dominica to inject addtional $16m into geothermal project
Caribbean island state Dominica, plans to inject an additional $16 million into its geothermal power project.
Reported from Dominica in the Caribbean, the country’s Prime Minister and Minister for Finance, Dr. Roosevelt Skerrit has announced that his government will inject EC$45m (USD 16 million) into Dominica’s geothermal project.
The finance minister was speaking at a private sector forum at the Fort Young Hotel last week, as reported by the government. .
Hon Skerrit says the success of this project will have a positive impact on the private sector.
“We have invested millions thus far and will make a further investment of EC$45m (USD 16 million) in the development of the geothermal plant. I am sure that you all look forward to the significant reduction in the cost of energy that will follow. This will be a positive impact on your businesses and this will also stimulate investments by others in establishing new businesses. The funding announced now is in addition to EC$80 million (USD 29 million) spend by the government already.
This cash injection is through the Citizenship By Investment programme.