ABU DHABI, CMC—St. Kitts-Nevis Prime Minister Dr Terrance Drew says he has secured funding from a prominent United Arab Emirates (UAE)- based investment firm to initiate the groundbreaking geothermal energy project in the Federation.
Drew said the partnership with the K&K Group marks a significant step toward his Caribbean Community’s (CARICOM) commitment to renewable energy security as it furthers its agenda to a sustainable island state.
Basseterre said the clean energy project aims to harness the naturally occurring geothermal resources to produce clean, renewable power that will benefit all citizens and the Federation’s economic future. It said that this project aligns with the government’s vision for a sustainable future, which includes diversifying energy sources and reducing dependence on fossil fuels.
“This project is one for the history books. It will enable St. Kitts and Nevis to significantly reduce its reliance on fossil fuels significantly, thereby lowering its carbon footprint, preserving its natural resources, and contributing to global efforts to combat climate change, thus ensuring a healthier environment for future generations,” Prime Minister Drew said as he stressed the importance of trusting partnerships in creating an enabling environment that will facilitate investment in the Federation.
” During the project’s development phase, we will create new employment opportunities, drive economic growth, and foster sustainable development across both islands and the wider region.”
During the discussions with the chairman of the K&K Group, Dr. Tajeddine Seif, he repeated his government’s commitment to involving local communities in the project, providing opportunities for education and training in sustainable energy technologies, and empowering residents to contribute to the nation’s development.
Seif is reported to have vetoed and assured Prime Minister Drew that his company and its strategic partners, including Siemens Energy, are committed to leading the development, installation, and management of the renewable energy infrastructure and delivery via a subsea cable.
“…by integrating geothermal energy into the grid, the Federation can improve grid stability and reliability, benefitting not only St. Kitts and Nevis but also potentially neighboring islands through interconnection,” Seif added.
Prime Minister Drew said the government looks forward to a fruitful collaboration and is excited about this project’s transformative impact on the nation’s energy landscape.
He has promised further details about the project will be provided in the coming weeks.
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