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Originally, the NIA partnered with West Indies Power, a private company based in the Netherlands Antilles, to develop the project. The two parties signed a geothermal exploration contract in 2006 to carry out exploratory drilling in Nevis.371 In 2009, West Indies Power signed a PPA with NEVLEC. The project was to be financed by the Bank of Nova Scotia, with a US$30 million guarantee from the Export-Import Bank of the United States.372 However, West Indies Power did not begin exploration and production drilling and construction in 2011, and did not follow the schedule agreed to with the NIA. The NIA cancelled its contract with West Indies Power because it alleged that West Indies Power did not have the financial resources to continue developing the project.373 In 2013, West Indies Power disputed the decision by the NIA in court.374 However, in 2014 the court ruled in favor of the NIA and disregarded West Indies Power’s appeal.375 The next step is to finalize the lease to grant Nevis International access to the exploration lands. Exploratory drilling should begin soon and the NIA expects the plant to come online by the end of 2018.376 Phase 2: 30–35 MW power plant to meet demand in Saint Kitts Phase 2 would build a second power plant in Nevis to provide electricity in Saint Kitts. The generation capacity of this plant would meet Saint Kitts’ baseload demand of 24 MW.377 The project will include production well drilling, construction of an undersea interconnection cable, and construction and operation of the power plant. Neither the government nor NIA has published an estimated completion date, nor defined a structure for financing, building, and operating the project. Nevis International, the project developer for Phase 1, has not yet expressed interest in developing the second power plant. Nonetheless, the government has previously stated that it expects construction to begin in 2017.378 The government completed a study that identified three potential routes to supply electricity from Nevis to Saint Kitts. Neither the government nor the NIA have published cost estimates for the project. Preliminary estimates suggest that developing a 35 MW power plant and building an undersea interconnection cable to supply electricity to Saint Kitts could cost between US$114 million and US$168 million.379 These cost estimates include 371. Kerry McDonald, “Federation of Saint Kitts and Nevis: First Geothermal Powered Nation in the World” (West Indies Power, 2011), accessed September 26, 2013, http://ciemades.org/pdfs/conf11/may6/Nevis-Geothermal_K_MacDonald.pdf. 372. National Renewable Energy Laboratory and Organization of American States, “Energy Policy and Sector Analysis in the Caribbean 2010–2011,” accessed October 31, 2014, http://www.ecpamericas.org/data/files/Initiatives/lccc_caribbean/LCCC_Report_Final_ May2012.pdf. 373. Christiana Sciaudone, “Caribbean Geothermal Developer Sued by Nevis, Financial Partner,” Recharge News, June 4, 2012, accessed November 11, 2014, http://www.rechargenews.com/news/geothermal/article1297639.ece. 374. “West Indies Power Nevis to Appeal Geothermal Contract Court Ruling,” Caribbean 360, January 21, 2013, accessed October 31, 2014, http://www.caribbean360.com/index.php/news/st_kitts_nevis_news/656773.html#axzz2g0tuaMRA. 375. Merv-Ann Thompson, “ECCA Strikes Out West Indies Power Geothermal Appeal,” Saint Kitts & Nevis Observer, July 1, 2014, accessed November 5, 2014, http://www.thestkittsnevisobserver.com/2014/06/27/ecca-strike-out.html. 376. Nevis Island Administration, “NIA, NEVLEC and NREI Sign Geothermal Power Purchase Agreement,” November 26, 2015, accessed December 4, 2015, http://www.nia.gov.kn/index.php/news-4/news-articles-3/2538-nia-nevlec-and-nrei-sign-geothermal-power- purchase-agreement. 377. SKELEC, “Request for Proposal: SKELEC’s Renewable Energy Infusion Study” (2013). 378. Government of Saint Kitts and Nevis, “Geothermal Development on Saint Kitts and Nevis” (Costa Rica Study Tour: March 2014). 379. IDB, “Sustainable Energy Facility (SEF) for the Eastern Caribbean: Loan Proposal RG-L1071, RG-G1009, and RG-G1004” (2015), accessed December 2, 2015, http://www.iadb.org/en/projects/project-description-title,1303.html?id=RG-L1071; Magnus Gehringer and Victor Loksha, Geothermal Handbook: Planning and Financing Power Generation (Washington, DC: The International Bank for Reconstruction and Development, Technical Report 002/12, June 2012), accessed October 22, 2014, http://www.esmap.org/ sites/esmap.org/files/DocumentLibrary/FINAL_Geothermal%20Handbook_TR002-12_Reduced.pdf; Nexant, Caribbean Regional Electricity Generation, Interconnection, and Fuels Supply Strategy (March 2010), 1-38, accessed April 27, 2015, http://www.caricom. org/jsp/community_organs/energy_programme/electricity_gifs_strategy_final_report_summary.pdf; Magnus Gehringer and Victor Loksha, Geothermal Handbook: Planning and Financing Power Generation (Washington, DC: The International Bank for Reconstruction and Development, Technical Report 002/12, June 2012), accessed October 22, 2014, http://www.esmap.org/ sites/esmap.org/files/DocumentLibrary/FINAL_Geothermal%20Handbook_TR002-12_Reduced.pdf; Nexant, Caribbean Regional Electricity Generation, Interconnection, and Fuels Supply Strategy (March 2010): 1–38, accessed April 27, 2015, http://www.caricom. org/jsp/community_organs/energy_programme/electricity_gifs_strategy_final_report_summary.pdf. Cost estimates based on information provided by JICA, the IDB, information from the Energy Sector Management Assistance Program (ESMAP), and Nexant. The cost for the interconnection cable is based on Nexant’s findings, where it estimates that the interconnection between the islands of Nevis and Saint Kitts would cost about US$328 per kW of capacity. Assuming a capacity of 35 MW, this would put the total cost of the interconnection at about US$11.5 million. 154PDF Image | Unlocking Geothermal Power Eastern Caribbean Powerhouse
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