Basseterre, St. Kitts and Nevis: Deputy Prime Minister of St. Kitts and Nevis, Dr. Geoffrey Hanley signed a momentous agreement with the Saudi Fund for Development for the expansion of the SKELEC Needsmust Power Plant. They signed a deal to secure US$40 million which will play a crucial role in enhancing the electricity services around the island nation.
Prime Minister Dr. Terrance Drew took to his official Facebook account and shared glimpses of the signing of the agreement. He was not able to attend the meeting because of his prior commitments and other important official duties. Therefore, Deputy PM, Dr. Hanley signed the deal in Washington D.C. at the World Bank Headquarters with CEO Sultan bin Abdulrahman Al-Marshad of the SFD.
PM Terrance Drew extended gratitude to the Deputy PM for signing the deal on his behalf and also to the Government of the Kingdom of Saudi Arabia for their continuous efforts in helping St. Kitts and Nevis to transform its energy sector towards greater climate resilience and sustainability.
“Special thanks to the Government of the Kingdom of Saudi Arabia for this valuable input, demonstrating their commitment to partnership in building a climate-smart sustainable future”, noted PM Terrance Drew.
The leader of the nation also expressed gratitude to Minister of Public Infrastructure, and Energy, Konris G Maynard for his unwavering commitment and dedication towards transforming the energy department of the island nation with the motive to fulfil their agenda of creating sustainable development in the country.
The Saudi Fund for Development will provide US$40 million for the expansion of the Needsmust Power Plant Project. These fundings will be used to transform generators and include the addition of ancillary infrastructure which will play a significant role in increasing the capacity of the plant, enhancing their electricity services.
The project’s primary objective is to tackle all the obstacles in the energy sector by upgrading it and utilizing modern facilities and generators, ensuring the comfort of the citizens.
The Needsmust Expansion Project was first introduced in October 2023 by Minister Konris Maynard when he conducted a meeting with CEO Sultan bin Abdulrahman Al-Marshad and his team at the SFD in Saudi Arabia. Following the meeting, the SFD visited the island nation in November 2023 to analyse the project and the delegations signed the MOU at the sidelines of the CARICOM summit in Saudi Arabia.
The signing of the agreement also marks a significant step towards strengthening the relationship between St. Kitts and Nevis and the Kingdom of Saudi Arabia. Both nations looking forward to several collaborations in order to foster their social and economic growth.