Investments in geothermal to bring futuristic benefits for Dominica

The Government of Dominica believes investment in Dominica’s geothermal energy programme will bring about several long term benefits for the country and its citizens.

Prime Minister and Minister for Finance Hon. Roosevelt Skerrit made the remarks when he addressed a contract signing ceremony for the commencement of work on two geothermal wells on Monday December 10th 2012.

“The government believes that this investment in the geothermal project will help us in the future to address all our challenges because it will see a reduction in energy costs to the citizens of Dominica and put us in a position to be able to export energy to Guadeloupe and Martinique,” he said

So far the Government of Dominica has injected over $33 million dollars into the island’s geothermal project. Prime Minister Skerrit says this investment in geothermal is being done at a time when the entire world is battling with a global economic crisis.  The country’s leader is expressing confidence however that greater economic activity will result from this investment.

“This will allow for greater economic activity and we will see growth in our economy and we will also see the creation of thousands of jobs within the Dominican economy because of Government’s commitment, vision, perseverance in respect to this geothermal project.” he said.

The Government of Dominica and geothermal drilling company Iceland Drilling at the contract signing ceremony penned signatures to a new drilling contract for two additional geothermal wells in Dominica.

Earlier this year, the company drilled three intermediate sized wells with showed promising results and a manifestation of the geothermal resources in the Roseau Valley.

Two full sized geothermal wells will be drilled, a production well in Laudat and a re-injection well in Lily Valley, Trafalgar.

The project will be done at a cost of $18.1 million

The project will be done at a cost of $18.1 million. Funds for this new phase of the geothermal project are being made possible from a loan from the Agence Francaise de development.

The project is expected to start in May or June of next year.