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| West Indies Power (Nevis) Ltd is an independent private renewable energy development company, currently finalizing structure for the construction of the first 35MW geothermal power plant in Nevis.(Photo: enex.is) | |
CHARLESTOWN, Nevis, November 6, 2008 - The Nevis Island Administration (NIA) is negotiating with West Indies Power (Nevis) Limited to establish clear-cut agreements that would govern the island's geothermal resource.
Legal Advisor to the NIA, Patrice Nisbett, disclosed that negotiations would be devoted to the Geothermal Resource Contract (GRC) and a Power Purchase Agreement (PPA) to be established between Nevis Electricity Company Ltd (NEVLEC) and the power company, WIP.
"We would also deal in that agreement, with the issue of the concessions. And that concession would allow WIP to generate electricity from the geothermal resource. Also, we will deal with the issue of the Royalty Payment. We have been given specific instructions by the Cabinet of the Nevis Island Administration, with regards to dealing with the royalty payment," the attorney said.
Mr Nisbett said that the agreement would not only stipulate the relationship between WIP and NEVLEC, but constructive negotiation would deal with the issue of tariff and what NEVLEC would pay for the electrical power to be supplied by WIP.
He also contended that the agreement will bring significant benefits to the country and by extension, the people of Nevis.
West Indies Power (Nevis) Ltd is an independent private renewable energy development company, currently finalizing structure for the construction of the first 35MW geothermal power plant in Nevis.
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