{"id":18344,"date":"2024-04-18T03:00:44","date_gmt":"2024-04-18T03:00:44","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/st-kitts-nevis-seeks-funding-for-geothermal-project-from-uae-group\/"},"modified":"2024-04-18T03:00:44","modified_gmt":"2024-04-18T03:00:44","slug":"st-kitts-nevis-seeks-funding-for-geothermal-project-from-uae-group","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/st-kitts-nevis-seeks-funding-for-geothermal-project-from-uae-group\/","title":{"rendered":"St Kitts & Nevis seeks funding for geothermal project from UAE group"},"content":{"rendered":"
\n

St Kitts and Nevis Prime Minister Dr Terrance Drew has met with United Arab Emirates (UAE)-based investment firm K&K Group<\/a> to propose a partnership for the geothermal project being developed in Nevis.<\/p>\n

\u201cThis project is one for the history books, it will enable St. Kitts and Nevis to significantly reduce its reliance on fossil fuels, thereby lowering its carbon footprint, preserve its natural resources, and contribute to global efforts to combat climate change thus ensuring a healthier environment for future generations,\u201d<\/em> said Dr Drew about the project.<\/p>\n

\u201cDuring the development phase of the project, we will create new employment opportunities, drive economic growth, and foster sustainable development across both islands and the wider region.\u201d<\/em><\/p>\n

The geothermal project in Nevis has been in development for more than a decade. In 2018, it achieved a major milestone with the completion of a test well<\/a> that confirmed a 255 \u00b0C resource at 914 meters depth. A development plan was then formulated with Phase 1 of the project targeting 10 MW of power generation capacity the drilling of five wells.<\/p>\n

In December 2022, NIA and the Government of St. Kitts and Nevis\u00a0announced a tender<\/a> for the drilling of three production wells and two reinjection wells with funding from the Caribbean Development Bank (CDB). The bidding period had to be extended twice<\/a>, owing to the massive show of interest that the tender attracted, before being officially closed on April 2023.<\/p>\n

Earlier this year, a\u00a0delegation from the\u00a0Saudi Fund for Development<\/a> (SFD) visited the islands of St Kitts & Nevis to meet with key government stakeholders and explore the possibility of a partnership<\/a> for the geothermal project based in Nevis.<\/p>\n

Dr. Tajeddine Seif, Chairman of the K&K Group, assured the Prime Minister that his company, along with its strategic partners, is committed to leading the development, installation, and management of renewable energy infrastructure. He further said that, \u201c\u2026by 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\u00a0interconnection\u201d.<\/em><\/p>\n

Although the outcome of the meeting had not been disclosed, the Government of St Kitts & Nevis has stated that it is looking forward to a fruitful collaboration and the transformative impact of the geothermal project on the nation\u2019s energy landscape. More details on the project and collaboration can be expected in the coming weeks.<\/p>\n

Source: St. Kitts Nevis Information Service<\/a> and Dr. The Hon. Terrance Drew via Twitter<\/a><\/p>\n

The post St Kitts & Nevis seeks funding for geothermal project from UAE group<\/a> first appeared on ThinkGeoEnergy – Geothermal Energy News<\/a>.<\/div>\n","protected":false},"excerpt":{"rendered":"

\n

The Prime Minister of St Kitts and Nevis has met with UAE-based investment firm K&K Group to negotiate for investment support for the Nevis geothermal project.<\/p>\n

The post St Kitts & Nevis seeks funding for geothermal project from UAE group<\/a> first appeared on ThinkGeoEnergy – Geothermal Energy News<\/a>.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[4467,168,1145,3830,14670,14669,1521,15734,15735,2134,457,7490,4591],"class_list":["post-18344","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-energy","tag-for","tag-from","tag-funding","tag-geo","tag-geothermal","tag-group","tag-kitts","tag-nevis","tag-project","tag-seeks","tag-think","tag-uae"],"yoast_head":"\nSt Kitts & Nevis seeks funding for geothermal project from UAE group - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/st-kitts-nevis-seeks-funding-for-geothermal-project-from-uae-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"St Kitts & Nevis seeks funding for geothermal project from UAE group - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"The Prime Minister of St Kitts and Nevis has met with UAE-based investment firm K&K Group to negotiate for investment support for the Nevis geothermal project. 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