Nevis to Launch Geothermal Energy Project with $37 Million Multilateral Funding
Nevis, led by Premier Mark Brantley, aims to harness geothermal energy from Nevis Peak to cut electricity costs and enhance economic resilience. Current rates exceed 40 cents per kilowatt-hour, with plans for a 10-30 MW geothermal power plant to meet domestic demand and potentially export energy to neighboring islands. Multilateral financing of $37 million has been secured for the first drilling phase, with work expected to commence in early 2026.
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Nevis is advancing a geothermal energy project aimed at reducing electricity costs and enhancing its economy. With residents currently paying over 40 cents per kilowatt-hour, Premier Mark Brantley emphasizes the need for renewable energy to insulate against global price volatility.
The project will tap geothermal reservoirs beneath Nevis Peak, targeting a 10-30 MW power plant for domestic use, with potential for future expansion and energy exports. A coalition led by the Caribbean Development Bank has committed $37 million for the first drilling phase, scheduled to begin in early 2026. Success could lower energy costs below 15 cents per kilowatt-hour, while also enabling additional projects such as desalination and green hydrogen production.
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