Geothermal holds ‘greatest promise’ – President Savarin

first_img Share Sharing is caring! LocalNews Geothermal holds ‘greatest promise’ – President Savarin by: – July 24, 2014 Share 21 Views   no discussionscenter_img Share Tweet President Charles Savarin addressing Parliament on WednesdayThe island’s investment into the exploration of geothermal energy holds the “greatest promise” as it will reduce the cost of energy on the island, the President has said.In addressing Parliament on July 23, President Charles Savarin said the high cost of fossil fuel as the primary means of generating electricity has the most debilitating impact on the quality of life and economic activity in energy deficient economies. “We in Dominica for instance, spend over forty million dollars per annum on importing diesel for generating electricity”.President Savarin said, when coupled with the topography and its impact on distribution costs, Dominica has one of the highest costs per kilowatt hour of electricity in the region. “It is a national imperative therefore to develop alternative and renewable sources of energy and in this regard, geothermal holds the greatest promise, not only in reducing the unit cost of electricity to the consumer, but also the possibility of exporting electricity to our neighboring islands”. “Thus, in this and other regards, our maturity as a nation will be judged by our ability to press the mute key a few things on which we differ and concentrate our energies and resources in grasping and molding the many opportunities for progress which are now on our doorsteps,” the President stated. According to President Savarin, whether it is in education, in housing, in water management and distribution, in infrastructural development, in health care or in the thrust to secure cheaper, cleaner, reliable and renewable sources of energy, as a basis to attract new enterprises and grow existing ones, our nation has made substantial investment in the future. Dominica Vibes Newslast_img