The geotermal powerplant can provide 100% of the island’s energy need. Photo: CDB

BRIDGETOWN, Barbados – The Caribbean Development Bank (CDB) has approved US$17 million in financing for a geothermal energy development project in Nevis, which is aimed at reducing electricity costs, reducing carbon emissions and increasing energy security.

On Friday, December 9, the Bank’s board of directors approved the grant financing for the project which will help the Government of St Kitts and Nevis pursue the drilling of up to two geothermal production wells and one injection well. The project’s goal is to establish a geothermal power plant of capacity of ten megawatts, more than enough to meet all the domestic electricity demand in Nevis.

CDB’s Director of Projects, Mr. Daniel Best said the project could transform the energy landscape in the twin islands of St Kitts and Nevis.

“A 10 MW geothermal power plant on Nevis can generate more than 100% of the domestic demand on Nevis. If successful, the project will go a long way to helping the Federation realise their sustainable energy goals. These include transitioning from fossil fuel-based electricity generation to entirely renewable, while expanding generation and developing an interconnection between the two islands to increase resilience by allowing for the transfer of electrical power between St Kitts and Nevis, thereby not only benefitting the people of Nevis, but the Federation as a whole” said Best.

Groundwork

If the project achieves its initial goals, it will lay the groundwork for more ambitious goals such as expanding the Federation’s geothermal energy generation beyond that required for domestic use, to possibly support production and export of green energy commodities.