Monday, January 28, 2019

Commonwealth of Dominica: Citizenship by Investment Program Helps Pay for Construction of Geothermal Power Plant

Dominica to provide nearly entire population with geothermal energy, funded partly by its citizenship programme (Caribbean News Now)

In December, Dominica’s energy minister, Ian Douglas, addressed the government’s plans to build a geothermal plant in the third quarter of 2019. Construction will be set on the outskirts of the capital city of Roseau. It hopes to power 23,000 homes with clean geothermal energy, which represents approximately 90% of the entire population.

Funding for the geothermal project was partly acquired through Dominica’s citizenship by investment (CBI) programme. Additional funds came from the World Bank, Caribbean Development Bank and the Inter-American Development Bank. Each eligible person to become a citizen of Dominica adds at least US$100,000 to the EDF.