Do­minica to build geo­ther­mal plant de­spite hic­cups

Jamaica Gleaner - - MARKET REPORTS - – CMC

This im­age pro­vided by Google shows a demon­stra­tion of the com­pany’s new prod­uct called ‘Jam­board’. DO­MINICA SAYS it will move ahead with plans to de­velop a small geo­ther­mal plant de­spite a few “hic­cups’’ with in­vestors.

Prime Min­is­ter Roo­sevelt Sk­er­rit, speak­ing on the Geo­ther­mal De­vel­op­ment Re­sources Bill in Par­lia­ment on Mon­day, said his ad­min­is­tra­tion “will go it alone” on the project.

“As you know, we have been ne­go­ti­at­ing with dif­fer­ent groups of peo­ple. That did not come through, and I think in ret­ro­spect .... they have other con­sid­er­a­tions like any part­ner­ship,” Sk­er­rit told leg­is­la­tors.

He said the gov­ern­ment “will take on the risk as­so­ci­ated with the con­struc­tion of the plant”, while not­ing that it should been seen as an op­por­tu­nity for Do­minica to have full own­er­ship of the as­set and the coun­try’s geo­ther­mal re­sources.

Once the plant is con­structed, Rousea will float 50 per cent of the com­pany, al­low­ing the pub­lic to ac­quire shares in the busi­ness.

In Septem­ber, Do­minica and New Zealand signed a US$1.5 mil­lion part­ner­ship agree­ment to sup­port the con­struc­tion of a seven megawatt geo­ther­mal plant in Do­minica.

The agree­ment was signed be­tween Min­is­ter of For­eign Af­fairs, Francine Baron and her New Zealand coun­ter­part Mur­ray Mc­Cully.

A state­ment said then that the new part­ner­ship would ex­pand the tech­ni­cal as­sis­tance and be based on an im­ple­men­ta­tion time frame of 2016 to 2019. It would in­clude tech­ni­cal ad­vice for the front-end en­gi­neer­ing and de­sign, project man­age­ment sup­port to help progress the project, and an en­vi­ron­men­tal and so­cial im­pact as­sess­ment.

It would also in­clude the sec­ond­ment of a project man­ager to the Do­minica Geo­ther­mal Com­pany, who will co­or­di­nate all ac­tiv­i­ties to ex­e­cute the project for a pe­riod of up to 24 months once the con­tract has been signed.

The as­sis­tance from the Gov­ern­ment of New Zealand will pro­vide Do­minica with the tech­ni­cal ex­per­tise re­quired to re­alise con­struc­tion of the power plant, which is sched­uled for com­mis­sion­ing in 2019.

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