Antigua and Barbuda could take an equity stake in the geothermal energy project now under development in Nevis, as part of wider OECS efforts to strengthen regional energy cooperation and reduce dependence on fossil fuels, Prime Minister Gaston Browne said.
Browne said the proposal would allow Antigua and Barbuda to invest directly in the renewable energy initiative, provided it proves commercially viable.
“There’s no reason, on the basis that it’s commercially viable, that Antigua can’t take an equity stake,” he said.
He indicated that the longer-term vision could include establishing a transmission link to supply Antigua and Barbuda with base load geothermal energy from Nevis, reducing the country’s reliance on imported petroleum products.
“If we’re able to get that kind of base load energy … then it reduces the amount of fossil fuel energy that we have to purchase,” Browne said.
The discussions form part of broader talks within the Organisation of Eastern Caribbean States on joint strategic investments aimed at boosting economic resilience and energy security across the sub-region.
Geothermal energy, once fully developed, is seen as a stable and renewable source of power that could help cushion small island states against global fuel price volatility while lowering long-term electricity costs.
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First thought I like the idea it’s close so we can actually get power. I need more information about this before I can complete because it can be really beneficial especially if we contribute to increase the MW of the plant and it’s sizeable enough to add to Antigua’s grid.