Nevis Geothermal Drilling Project Receives Numerous Bids

Geothermal Drilling Site in Hamilton, Nevis

Geothermal Drilling Site In Hamilton, Nevis

The Nevis Geothermal Drilling Project has received a significant amount of interest from potential bidders, resulting in the bidding process being extended until March 09, 2023. The Premier Hon. Mark Brantley, NIA Minister of Energy, stated that over 30 companies have either submitted bids or shown interest in the project. The bidding process was extended by one month at the request of prospective bidders. The Premier indicated that a decision on the contractor for the drilling services would be made after March 09, and the project would move forward.

The Caribbean Development Bank (CDB) approved USD$17 million in December 2022 for the drilling phase of the Nevis Geothermal Project. The project includes the drilling of three production and two injection wells. According to CDB procurement procedures, a tender was launched for a contractor to provide the drilling services, including drilling rig, wellhead equipment, casings and integrated drilling services.

The Premier noted in his 2023 Budget Address that bids will be evaluated, and necessary approvals will be obtained before drilling commences. He further stated that drilling is expected to start six months after signing the contract and will be completed within a further six months.

Harnessing geothermal energy will have a significant economic impact on Nevis, both for local use and as an incentive for direct investment. According to the Premier, at the proposed purchase price to Nevis Electricity Company of US$0.09 cents per kilowatt-hour, Nevis will have the cheapest and cleanest electricity (#ad) in the region, resulting in significant savings for the people. Furthermore, geothermal energy will attract foreign direct investment from business entities that heavily depend on energy for their daily operations. Nevis is well positioned to take advantage of the gift that is geothermal resource and propel itself into a new era of development.

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