The Commonwealth of Dominica and the UAE-Caribbean Renewable Energy Fund (UAE-CREF) have announced a deal for a hurricane-resilient clean energy project. This project will manage reserve capacity on an island prone to extreme weather sources. It will support a 5MW/2.5MWh battery storage system that will help meet the island’s clean energy goals.
This will give the people of Dominica access to clean renewable energy, plus the UN Sustainable Development Goals will be achieved.
“The 5MW battery storage system will enable us to move more quickly to the transition from fossil fuel to renewable sources of energy in the electricity sector. We look forward to continued partnership with the UAE in the area of sustainable development and other areas of mutual interest both bilaterally and multilaterally,” said Prime Minister Dr. the Hon. Roosevelt Skerrit and thanked the UAE government for their significant contribution to the development of Dominica.“
For many years, Dominica has focused on combating climate change. With funds raised through the Citizenship by Investment program, the country is building a geothermal power plant to generate 7MW of clean energy.
Foreign investors can donate to the Economic Diversification Fund (EDF) and obtain citizenship of Dominica.
Benefits of the Dominica Citizenship by Investment Program:
- Fast processing: life-long citizenship and a new passport issued after 3-4 months
- Confidentiality: The application process is confidential
- Good value: Dominica offers one of the most affordable programs in the Caribbean.
- Hassle-free: no need to visit Dominica to apply for citizenship
- Zero tax: there are no income, property, or inheritance taxes on the island
FIND OUT MORE ABOUT DOMINICA CITIZENSHIP BY INVESTMENT
Source: yahoo.finance
