07 Nov Climate Resilience Execution Agency for Dominica signs MOU for Green Hydrogen Industrialisation, with Kenesjay Green Limited
The Climate Resilience Execution Agency for Dominica (CREAD) signed a Memorandum of Understanding (MoU) with Kenesjay Green Limited (KGL), an energy revolution company dedicated to developing a pipeline of viable decarbonising and green project opportunities across the Caribbean.
The companies announced the MOU during the Glasgow Climate Change Conference (COP26) in the NDC Partnership Exhibit Presentation area. In attendance as signatories was the CEO of CREAD, Ms. Francine Baron, and Mr. Philip Julien, the Chairman of KGL.
Also present as a special guest speaker was Ms. Una May Gordon, the Principal Director of the Climate Change Division for the Ministry of Economic Growth and Job Creation for the Government of Jamaica. Mr. Kishan Kumarsingh, the Head of Multilateral Environmental Agreements at the Ministry of Planning and Development in Trinidad and Tobago was also attending as a special guest.
The agreement lays out a framework intended to identify options for Dominica to harness its approximately 2GW of geo-thermal energy. This will support its transition to a low carbon economy, and critically play an important role in a global hydrogen supply change, providing investment returns to partners, while supporting regional and international efforts to net zero.
Under the MOU, CREAD and KGL have established a working partnership to facilitate the collaborative development of Green Industrial Eco Parks (GIEP), green hydrogen production, carbon sequestration, and decarbonising industries.
KGL will serve as a private sector partner and project developer and will work with CREAD to develop identified investment opportunities in Dominica, in collaboration with bilateral, multilateral, and private sector partners. It will conduct a country assessment focused on identifying potential priority investments to accelerate the island’s transition to a low carbon economy.
KGL will pursue, with CREAD, commercially viable investment opportunities based on the utilisation of geo-thermal reservoirs, applying breakthrough clean technology in upstream and downstream applications to generate cost competitive green hydrogen and Power to X opportunities. KGL will also assist in developing the skills and capability needed for the business activity located within the Green Industrial Eco Parks.
Chief Executive Officer of CREAD, Ms. Francine Baron, stated: “This signing complements the work that Dominica is doing with the support of the Green Climate Fund (GCF) in developing green industrial projects as a major diversification effort and sustainable economic development for Dominica.” She further noted that “CREAD will work with Kenesjay Green Limited to expeditiously position Dominica to take advantage of its vast geo-thermal resources and growing global market interest for new eco-friendly products such as green hydrogen. This is an exciting opportunity, and this MOU will help accelerate Dominica’s efforts to be a key regional player in the fight against climate change.”
Philip Julien, Chairman of KGL, said, “The world is investing heavily in renewable energy and carbon-neutral hydrogen. We see immense investment potential based on the abundance of Dominica’s geo-thermal energy, enabling many new export industries, and creating green technology jobs. We aim to support Dominica’s green economic diversification in part by using renewable geo-thermal energy. We are excited to be a part of the national development effort of Dominica aimed at building a resilient economic future for its citizens powered by local, green energy, which is good for the planet. Ultimately these investments will further develop the Caribbean regional grid infrastructure through the potential for export of green energy to support the economic development of neighbouring islands, while also utilizing the same green energy in-country.”