St kitts and Nevis: Prime Minister of St Kitts and Nevis Dr Terrance Drew addressed the members of the media d8uring his monthly roundup press conference. The press conference featured significant discussions on the topic of national interests.
One of the most crucial topics of discussion during the press interaction was the Prime Minister’s commitment to make St Kitts and Nevis energy independent island nation. The Prime Minister highlighted that it is a part of their overarching goals for the nation’s development.
The roundtable was hosted at the Koi Resort on October 8. PM Drew said that they have to work towards becoming a sustainable island nation with energy at the center stage of the mandate.
He talked to the media about the importance of renewable energy in the development of the country. In the same breath, he highlighted how the geothermal resources of Nevis can help in realizing the mandate.
Geothermal energy sources which will be harnessed in the island of Nevis can help the federation in becoming a center for green energy. The resources can help St Kitts and Nevis attain significant energy autonomy.
The nation will no longer be dependant on the external fuel price fluctuations and the fiscal load of energy consumption will also reduce significantly. PM Terrance Drew noted that the funds that are freed in this area can be utilized in some other developmental areas.
The current ratee of purchase for energy is 60 cents per kilowatt. According to PM Drew, this is a major financial burden on the nation. This burden can be lifted once the nation attains energy autonomy.
According to PM Drew, if St Kitts and Nevis could reduce energy costs to one-third of the current price, the development will have a positive impact on the country’s economy. This has been outlined in the report of the International Monetary Fund (IMF) report.
The people of the country will also feel the effects of this remarkable development as energy bills will reduce. The country will also start to attract better business prospects.