Last Updated on April 17, 2024, 11:07 AM AST by Anthony Morris
Dr. Geoffrey Hanley has signed a Memorandum of Understanding to secure USD$40 million with the Saudi Fund for Development with the aim of developing Needsmust Power plant. The MoU was signed at the World Bank Headquarters in Washington DC.
The Deputy PM signed the MoU with the CEO of Saudi Fund for Development Sultan bin Abdulrahman Al-Marshad on behalf of Prime Minister Dr. Terrance Drew. The Prime Minister in turn appreciated the former for his dedicated service to the nation.
The funds from the SFD will be used to fund the purchasing of modern generators to transform the Needsmust Power Plant. The investment into the power plant will help in expansion of the power plant in Basseterre with a US $40 Million Upgrade.
The Minister of Public Infrastructure, Energy, Utilities, Domestic Transport, ICT, & Post is delighted with the new development. He joined PM Terrance Drew in extending his best wishes to Dy PM Hanley for the successful signing of the MoU.
According to Minister Konris Maynard, the 18MW dual fuel generators and ancillary infrastructure of the powerplant needed the said update urgently. With the update, the powerplant will be able to retire some of the old generators which have been working well past their time.
With this new update, the generation capacity of the Needsmust Power Plant is also expected to increase thus improving reliability of service around the island. The development is being viewed as a critical step in providing resiliency.
The step is significant to provide electricity access to the people of the community at this critical time. Presently, St. Kitts is in the phase of transitioning to the use of renewable energy sources.
PM Terrance Drew appreciated Minister Konris Maynard for the tireless efforts that he has put into realizing this initiative for the Needsmust Power plant. The Minister had introduced the CEO of the SFD Sultan bin Abdulrahman Al-Marshad in October 2023.
He met the CEO and his team at the SFD in Saudi Arabia on behalf of SKELEC and the government of St. Kitts and Nevis. The SFD team visited the Needsmust Power Plant later that month and the following month, PM Terrance Drew signed an MoU with Saudi Arabia to solidify the partnership.
The Prime Minister, Dr. Terrance Drew thanked the Government of the Kingdom of the Saudi Arabia for this valuable input. Through this MoU, the country has demonstrated their commitment to partnership in building a climate smart and sustainable future.
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
