CREF 2026 Industry Awards
Double Awards Go to Dominica’s Landmark Geothermal Energy Project
Bridgetown, Barbados · October 19, 2026
The CARICOM Development Fund (CDF) welcomes the regional recognition earned by Dominica’s landmark geothermal energy project, which secured the Best Caribbean Energy Project and Best Financing Programme Awards at the 2026 Caribbean Renewable Energy Forum (CREF) Industry Awards held in Panama City, Panama, from October 14–16.
Representatives of the CDF, CDB, and the Government of Dominica accept the awards recognising the Dominica Geothermal Project at CREF 2026.
Innovative Financing Partnerships
CDF contributed US$15 million in concessional loan financing towards the development of the 10-megawatt geothermal power plant in the Roseau Valley.
This investment formed part of a collaborative financing effort involving the Caribbean Development Bank (CDB), the Green Climate Fund, and other development partners – demonstrating the importance of innovative financing partnerships in delivering transformative energy infrastructure in the Caribbean.
Financing Partners
The first operating geothermal power plant in a CARICOM Member State.
A Historic Milestone for the Region
The Plant is already supplying electricity to Dominica’s national grid following the commencement of commercial operations in July 2026 – a historic milestone marking the startup of the first operating geothermal power plant in a CARICOM Member State.
Its contribution, along with the existing hydroelectric plants, has enabled Dominica to achieve approximately 80% of its electricity generation from renewable energy sources. This milestone also marks a significant step towards reducing Dominica’s dependence on imported fossil fuels, strengthening national energy security and accelerating the Country’s transition to a more resilient, low-carbon economy.
CDF’s Chief Executive Officer, Mr. Rodinald Soomer, stated:
“The recognition of Dominica’s geothermal project at CREF 2026 is a proud moment for Dominica and the wider Caribbean. CDF is pleased to have provided concessional financing to this landmark initiative, which demonstrates what can be achieved when regional and international partners work together to address the significant financing challenges associated with transformative energy investments.
The awards underscore the value of collaborative development financing in advancing large-scale renewable energy projects in small island developing states. CDF remains committed to investing in transformative projects that promote inclusive and sustainable development, enhance energy security and resilience, and advance the Caribbean’s transition to a low-carbon future.”
Rodinald SoomerChief Executive Officer, CDF
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About the CARICOM Development Fund
The CARICOM Development Fund (CDF) was established under Article 158 of the Revised Treaty of Chaguaramas to provide financial and technical assistance to disadvantaged countries, regions and sectors of the CARICOM Single Market and Economy.
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