In an interview with the press, The Hon. Ian ‘Patches’ Liburd disclosed that St. Kitts has engaged the Caribbean Development Bank and CARICOM Energy Unit to assist in the next steps for the St. Kitts geothermal project.
While exploratory drilling is still required to confirm the resource and size, Teranov has established a resource between 18-35 MW, and Liburd said a risk analysis has been started.
“It is a public private partnership (PPP) approach and analysis,” he said.
The Energy Minister also gave a timeline of the upcoming steps of the initiative.
“We just got back some reports from both parties and hopefully in the new year we can meet the legal experts, Financial experts and all the technical people to finalize the agreement,” he declared.
He said the government would first have to establish an Drilling Incentivisation Agreement with developers.
“Without the agreement we can’t accept the terms of the exploration drilling. Hopefully by the end of January we can get to that stage,” he said.
More than a year ago, in 2015 the Government of St. Kitts and Nevis increased its efforts to find and expand renewable energy alternatives by conducting a feasibility study in St. Kitts to see if there was any potential for geothermal energy.
