French company begins geothermal exploration in St. Kitts
Teranov, a French engineering and services company for new and renewable energy, based in Guadeloupe, has started geothermal exploration exercises in St. Kitts. Five geoscientists are in the island conducting feasibility studies.
President of Teranov, Jacques Chouraki, says the prospects for geothermal energy on St. Kitts are promising.
In September Minister of Public Infrastructure, Posts, Urban Development and Transport Ian “Patches” Liburd signed a Memorandum of Understanding with Teranov, which includes a road map that can possibly see the production of geothermal energy in 2020.
Minister Liburd said the decision to start geothermal exploration came against the backdrop of high cost of fossil fuel imports under the PetroCaribe agreement with Venezuela. “From 2007 to 2008, the government owes PetroCaribe or Petróleos de Venezuela, S.A (PDVSA) some US$22 million of which some US$7 million is due. Between 2008 and 2011, the government racked up a debt of some US$45 million owed to PDVSA” he said.
Liburd added that to continue developing and to ensure economic growth, government must adopt a policy of renewable energy. He disclosed that during the upcoming sitting of Parliament, the regulatory framework will be laid with the tabling and first reading of the St. Christopher Electricity Act which is being amended to accommodate alternative energy, feeding tariffs, net billing, and solar, wind and geothermal energy.
Chairman of the Board of SKELEC, Mr. Errol Liburd, who is an engineer by profession, said that geothermal energy will result in lower electricity generation cost that will redound to the benefit of the consumer.
Left to right: Frederic Gerard, Project Manager, Teranov; Jacques Chouraki, President, Teranov; Ian “Patches” Liburd, Minister of Public Infrastructure, Posts, Urban Development and Transport; Errol Liburd, Chairman of Board of SKELEC;
Cartwright Farrell, CEO of SKELEC.