Support to the Development of Geothermal Energy

Sustainable energy
Dominica
COUNTRIES
Dominica
DATES
01/03/2013 - 30/09/2022
TOTAL BUDGET
€ 8 640 000
TOTAL CIF CONTRIBUTION
€ 2 140 000
SECTOR
Sustainable energy
TYPES OF SUPPORT
Technical Assistance
PROJECT FICHE:
DESCRIPTION

The objective of this project is to support the Government of the Commonwealth of Dominica’s policy for the development of geothermal resources. In particular, it will significantly increase the knowledge of the geothermal potential in Wotten Waven, allowing for a rapid start of an initial small power production aimed at the local market, preparing the concession that will exploit this reservoir and monitoring the concessionaire’s operations initial investments.

The current project is the final step towards the materialization of the potentially largest geothermal power plant in the Caribbean with an overall cost currently estimated at EUR 500­ 600 million. Besides its sheer size, its impact will be local, regional and global. The product will be highly beneficial to Dominica's economy as well as to the one of Guadeloupe and Martinique. It will bring major benefits in terms of climate change mitigation by substituting fossil fuel-based energy production for clean renewable energy. It will also improve the islands' direct environment through increased regional cooperation.

RESULTS
  • Decrease macroeconomic risks linked to the fluctuation of fossil fuel prices.
  • Reduced cost of energy and increase foreign currency reserves through export of energy to the French islands.
  • Protect the unique natural environment of Dominica thanks to the use of renewable energy.
  • Reduction of greenhouse gas emissions by 420,000 T CO2 every year.
LEAD FINANCING PARTNER
CO-FINANCING PARTNERS
CONTRIBUTION TO SUSTAINABLE DEVELOPMENT GOALS