St. Kitts and Nevis: Prime Minister Dr. Terrance Drew appreciates the initiative by the Deputy Prime Minister Dr. Geoffrey Hanley for signing the momentous agreement with the Saudi Fund for Development (SFD) and expressed his gratitude.
Deputy PM Hanley signed the agreement on behalf of PM Drew which secures US $40 million for purchasing modern generators to transform the SKELEC Needsmust Power Plant.
Prime Minister also extended the special wishes to the Government of the Kingdom of Saudi Arabia for presenting the valuable input that demonstrated the commitment of the federation towards the partnership in building a climate smart sustainable future.
PM Drew also thanked the Minister of Energy, Konris G M Maynard for his work on the very important initiative as the government is serious about energy transformation.
Mentioning about the agreement, minister Maynard has marked it as a historic signing with the Saudi Fund for Development of the nation.
Reportedly, the signing of the agreement took place in Washington D.C. at the World Bank Headquarters with CEO Sultan bin Abdulrahman Al-Marshad of the SFD.
Konris Maynard highlighted that the Needsmust Plant will receive a US $40M upgradation of 18MW dual fuel generators and ancillary infrastructure which is critically needed in order to retire some very old generators.
As per the sources, the upgradations will also increase the capacity of the power plant which will improve the reliability of electricity service around the St. Kitts, by taking some critical steps in providing resiliency at the power plant.
Recalling the previous reports, Minister of Energy Konris Maynard said that he enjoyed the meeting with CEO Sultan bin Abdulrahman Al-Marshad and his team at the SFD in Saudi Arabia.
Notably, on behalf of SKELEC, The Ministry of Energy, the Federation and the people of St. Kitts and Nevis has extended the warm gratitude to the SFD and the Government and the people of Saudi Arabia for very important partnership.
Recently, Prime Minister Dr. Terrance Drew visited Abu Dhabi, UAE and attended a meeting to secure the fundings to build strategic partnerships with the K&K Group.
The partnership marks a significant step towards the commitment of the nation which considers the security of the renewable energy.
K&K Group is a prominent UAE investment company which initiated the ground-breaking geothermal energy project in the Federation of St. Kitts and Nevis.