WHEREAS Dominica\'s Geothermal Energy Resources have the potential to be a major contributor and financier to Dominica\'s development and should be developed to bring the maximum benefit to the government and people of Dominica; and NOTING that the development of Dominica\'s geothermal resources via a Government Linked Company like the 70/30 government/Dominicans revenue sharing proposed by Clean Energy Corporation, is the developmental scheme that will bring maximum benefits to the government and people of Dominica; and NOTING that all the funding required to develop Dominica\'s geothermal resources are available through Kyoto Protocol\'s Clean Development Mechanism, and through a Commodity Off-Take Agreement based on a Power Purchase Agreement from the French regions of Guadeloupe and Martinique; and also NOTING that additional funding is available through organizations like the Venezuelan backed Bolivarian Alternative for the Americas (ALBA); and also NOTING that Clean Energy Corporation and its associates have led the drive for Dominica\'s development and ownership of its renewable energy resources and have completed local projects directly, or via its affiliates, in wind, solar electric, solar cooking, energy efficiency, geothermal energy advocacy, and renewable energy education; and also NOTING that a Government Linked Company would be in the best position to maximize on spinoff industries that would provide employment, additional dividends, and a better quality of life to the people of Dominica; and OBSERVING that a geothermal project owned and led by Dominicans will give a further boost to Dominicans\' self esteem and a stronger belief that Dominicans have the ability to manage industry and technology at all levels where given an opportunity, a belief necessary for any serious attempt to develop the country; and OBSERVING that the government has ignored several transparent and ethical procedures in granting the license to West Indies Power (Dominica) Ltd.; and LAMENTING that the government of Dominica granted a geothermal license to a foreign owned startup, West Indies Power (Dominica) Ltd., a concern with no history linked to the successful development of said resource and renewable energy or any commitment to the equitable development of the people of Dominica; and FURTHER LAMENTING that West Indies Power (Dominica) Ltd was also given ownership to the Carbon Credits derived from the project, an item they will certainly use to raise financing for the project; and RECOGNIZING that after 30 years of independence the country is not better off than at independence and a new approach to true people oriented development is necessary; and RECOGNIZING that any continued sell-off of rights to our natural resources to external entities for pittance, amount to a an abandonment of our independence quest and makes a mockery of our efforts at building a dignified and self reliant nation. Now, therefore, BE IT RESOLVED that The Government of the Commonwealth of Dominica immediately rescind the geothermal license granted to West Indies Power (Dominica) Ltd; and BE IT FURTHER RESOLVED that the Government of The Commonwealth of Dominica embrace the development of its geothermal resources through a Government Linked Company like the one suggested by Clean Energy Corporation; and BE IT FURTHER RESOLVED that as a Dominican citizen I pledge to make an initial purchase of shares in the proposed Clean Energy Corporation Government of the Commonwealth of Dominica Linked Company: Clean Development Mechanism (CDM) is an arrangement under the Kyoto Protocol which allows industrialized countries who exceed their greenhouse gas reduction quota to fund projects that reduce emissions in developing countries. Commodity Off-Take Agreement (COTA) is available for projects involving production of commodities - in which the production capacity is significantly sold in an arrangement before the production plant is built. A Power Purchase Agreement with the French Regions of Martinique and Guadeloupe who have AAA credit rating would facilitate 100% project costs to be financed. Carbon Credits is the currency used by the CDM.

Sponsor