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Parry to Renew Search for Geothermal Funding

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parry56Charlestown, Nevis(Thursday 10th May, 2012)-On Friday (May 11) Nevisian Premier Joseph Parry will meet with officials of the US Export- Import (Ex-Im) Bank in Washington D.C, which is the official credit agency of the United States Federal Government in order to seek funding for the development of the Geothermal Project in Nevis.

 

The Premier said that in order to develop geothermal on Nevis it is imperative for the project to receive financial assistance, and this will be accomplished with negotiations and support from Ex-Im Bank.

The visit to Washington comes on the heels of a recent announcement by Prime Minister Dr. Denzil Douglas that Ex-Im is ready to support geothermal, and the Premier said, “It is time to meet and plan.”

This thrust comes a few weeks after the Prime Minister announced that St. Kitts and Nevis can become the first “green” country in the Eastern Caribbean by tapping into Nevis’ known renewable energy resource.

Nevis is one of the islands in the Caribbean with a rich geothermal potential, and with this in mind the Joseph Parry-led Nevis Island Administration is pursuing its plan to have the natural resource piped into every home on Nevis, leading to cheaper electricity rates for consumers, while reducing the reliance on fossil fuels.

Following the meeting with EX-IM in Washington D.C, Joseph Parry will leave on Saturday for Boston (Massachusetts), where he will meet with a potential investor, said a government release.


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