Business View caribbean - Aug 2023

10 BUSINESS VIEW CARIBBEAN VOLUME 10, ISSUE 8 geothermal energies since their shift to more sustainable sources of power. For its solar energy, several international companies have invested in the construction of solar photovoltaic (PV) systems on the island, “both at the utility scale and for individual households and businesses.” Dominica’s geothermal power project in the Roseau Valley has also been receiving a great amount of support from international investors. “This project, which is being financed by a consortium of international partners, including the World Bank, the European Union, and the Caribbean Development Bank, aims to harness the island’s abundant geothermal resources to generate clean, reliable, and affordable electricity,” Energyportal.eu wrote. Aside from its foreign investors, Dominica is also getting the funding of the geothermal plant from the Citizenship by Investment (CBI) programme. The CBI programme has been essential in building back better infrastructure for a hurricane-prone country like Dominica. Thousands of climate-resilient houses have already been turned over to its residents. Dominica’s longstanding developing partner, MMC Development Ltd., has been in charge of overseeing the construction of the CBI-funded projects, making sure that every building abides by the country’s building codes and sustainability efforts.