News

Premier: Nevis Moving Forward on Geothermal Project

By: Caribbean Journal Staff - January 3, 2013 - 4:04 pm

Above: Nevis Peak (CJ Photo)

By the Caribbean Journal staff

Nevis’ government says it is moving ahead with the planned geothermal project on Nevis Peak, Premier Joseph Parry said in his New Year’s address.

The project, first launched by West Indies Power, had stalled over the last year.

“After several hiccups, the government is confident that we will take it forward,” Parry said.

The Premier also said that the United States-based Ex-Im Bank had initiated a call with Parry to confirm its interest. The Ex-Im bank had first approved a loan of almost $60 million for West Indies Power to build the geothermal plant.

Nevis is one of several Caribbean islands looking to tap into subterranean geothermal reserves.

Most recently, Dominica announced that it had signed a contract with an Iceland-based company to begin drilling geothermal wells in the Roseau Valley.

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