PM Drew secures funding for geothermal project from UAE-based K&K Group

St. Kitts and Nevis: Prime Minister Dr. Terrance Drew had a fruitful meeting with the prominent UAE-based investment firm K&K Group led by his Chairman, Dr Tajeddine Seif. The meeting aimed at seeking to build strategic partnerships in the realization of the Federation’s goal of the renewable energy transition. PM Drew said that he has been able to secure funding from the investment firm which will be used to break ground for the geothermal energy project in St. Kitts and Nevis.

He added that this partnership with the K&K Group is a major step towards CARICOM’s commitment to renewable energy security as it boosts its agenda to a sustainable island state.

According to the information, the clean energy project strives to harness the naturally occurring geothermal resources to produce clean and renewable able which will be used for the benefit of the citizens and will safeguard the economic future of the twin island nation.

During the significant meeting, PM Drew said that it is very important to trust partnerships which will create an enabling environment that will provide investment in the Federation.

He further noted that this project will be one for the history books and it will allow St. Kitts and Nevis to significantly lessen its reliance on fossil fuels which will eventually lower its carbon footprint while preserving the natural resources and contributing to global efforts to fight climate change and ensure a healthier environment for future generations.

PM Terrance Drew further continued to say that during the development phase of the project, the administration will create new employment opportunities, drive economic growth as well as foster sustainable development across St. Kitts and Nevis and the wider Caribbean.

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During the discussions with Chairman Seif, Dr. Drew reiterated his government’s dedication and commitment to involving local communities in the project which will provide opportunities for training and education in sustainable energy technologies. He also said that it will empower residents to contribute towards the country’s development.

Notably, Dr Seif gave his assurance to the Prime Minister that his company, along with its strategic partners, including Siemens Energy, will remain resolute in leading the development.

He added that with the integration of geothermal energy into the grid, St. Kitts and Nevis can expand grid stability and reliability, which will benefit not only the country but also the neighboring islands via interconnection.