THE ROLE OF C.R.M.

What is C.R.M.  -  The Committee for the Redevelopment of Montserrat, doing about Geothermal energy?

First and foremost, they intend to educate every citizen of Montserrat and those living overseas, what Geothermal power is and where it comes from.  The reverse of this “flyer” is designed to start that process and gain the people’s interest.  Radio  programmes, town hall meetings and open discussion forums will extend the process.

C.R.M. is not standing still, the matter is too important for the benefit and well being of the Island, to let that happen! The first and most important action is well under way, a Public Corporation based here on Montserrat is being formed. 

THE MONTSERRAT GEOTHERMAL POWER CORPORATION will be the vehicle, which will drive the project forward.

M.G.P.C. for short, will be arranged as a Trust, whose Articles of Association ensure that the natural resource cannot be sold off to third parties.  There will be a limit to the number of shares owned by an individual or group.  Once again to prevent Montserratians loosing control of their major natural resource.

Every Montserratian family and houseowners here on the Island will be given free shares  and be invited to invest in the Public Body.  Minimum share holding will be five dollars US or thirteen dollars fifty EC.   Through the Town Hall meetings and other venues, the public will be encouraged to participate in what will become a major feature of the Island, one which will provide economic stability and less expensive electricity for generations to come.

There is, however, one hurdle which must be overcome; MONLEC and the Government of Montserrat must provide the new Corporation with a ‘Letter of Intent’, allowing the company to carry out a survey and then continue with the project to completion.  Naturally the “Contract” must contain cast iron safeguards for both parties.  The Corporation will only continue if the survey proves that the energy is available in large quantities and MONLEC must be assured that they will not be asked to pay more than their cost of generation.  On the assumption that this can be achieved, the project will start very quickly.

Finance has been arranged but it would be M.G.P.C’s. intension to raise as much money from the citizens as possible, to show a measure of faith in our resources for our International Bankers  to  realise that we are SERIOUS.

This is not a flight of fancy, it will happen if it is the wish of the people. The initial phase will provide power here on Montserrat and on the basis of a preliminary survey carried out in 2005, it will in the future be possible to provide power to other islands, benefiting both the Buyer and Seller.

There is one last important point, which every citizen should be aware of:  this is a private sector venture, it will be funded by Montserrat for Montserrat.

 IT WILL NOT COST the Government of Montserrat, MONLEC, or the British Government one single cent unless they wish to invest in the project in exactly the same way and under the same terms, as every other investor.

 STOP PRESS – 21^ST NOVEMBER 2006

A letter has been delivered to the Government of Montserrat asking them to provide M.G.P.C. with   

authority to start.  C.R.M. awaits their response.   

Further information is available from

www.mgpcorporation.com

or                

www.montserrat-geothermal.com