Nevis geothermal project with financial hicups but on track
Alexander Richter
12 Oct 2009
Despite some financial setbacks, the Nevis Geothermal Project is very much on stream and still on schedule towards providing power by the end of next year.
According to local news, “Despite some financial setbacks, the Nevis Geothermal Project is very much on stream and still on schedule towards providing power by the end of next year. This is according to two officials of West Indies Power Nevis Ltd., the company contracted to provide this unique form of energy to the island.
Chief Executive Officer (CEO) Dr. Kerry Mc Donald and General Manager Rawlinson Isaac told reporters last week that the project would be up and running “as soon as we get the financial packaging in place”.
According to Isaac, “In the current economic climate it is difficult. Money is hard to come by. People who promise money are taking a longer time to deliver. You promise people based on that money to make your own delivery and hence you are handicapped because you can’t deliver.”
Isaac said the company is not waiting on the original financers, who are reassessing their level of sponsorship, but has decided to look elsewhere for backing. He is however adamant that the project would overcome all adversity.
Dr. Mc Donald, who recently returned from medical leave, said although there appears to be inactivity on the project, work was taking place away from the public eye. He identified the work taking place as the preparation of the environmental impact statement “which is a requirement of financing” and the plant design and engineering.
The CEO said the company is in the process of putting together work schedules, but drilling should recommence by the end of October.
“We will be making an announcement on the entire schedule by the end of October or the first week in November. We are currently awaiting that from the EPC – the Engineering Procurement and Construction contractors.”
Source: SKNVibes
