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POTENTIAL GEOTHERMAL INVESTORS VISIT NEVIS 3 SITE

Geothermal experts envisage that geothermal electricity will be in Nevisian households in first half of 2010. This disclosure was made at a kick off programme where all parties involved in the fabrication of the geothermal power plant were present.


A delegation from the US Export-Import Bank who is looking to finance the project for Nevis and St. Kitts visited Hamilton Estate, Nevis 3 geothermal site on Wednesday April 08th….Team Leader Mr. Karl Kendal and Mr. Masud Hasan, Environmental Specialist of the Bank’s Engineering and Environmental Division were on the island for a 3 day preliminary technical review of the project as part of the due diligence exercise for the West Indies Power (WIP) loan application to the Bank….Junior Minister in the Ministry of Communications, Works, Public Utilities, Post, Physical Planning, Natural Resources and Environment on Nevis Hon. Carlisle Powell established that negotiations have been substantially completed and the signing ceremony would be made public, “negotiations has taken us 6 months up till now to hammer out the details in terms of the contract, we have reached an agreement on all of the areas and we are happy to say that, we are now at the stage where we would be getting final copies.”….


Kerry McDonald, CEO of WIP LTD, also established that Nevis gov’t will incur no expenses and that WIP will be the Company bearing the full cost of the on going geothermal project. He revealed that the cost of the 10 MW Nevis project will be $45 million and the expansion to take care of the St. Kitts 25 MW project which will start in 2011 will be roughly another $90 Million “so the total project is about $145 Million.” He also indicated that there will be two small plants that will take care of Nevis and two larger plants for St. Kitts.


THE LEEWARD TIMES

Article by Abisola Abiola



Category/ies:St Kitts and Nevis News.
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