分类： business

On March 30, 2026, the Federation of Saint Kitts and Nevis marked a defining turning point in its clean energy transition with the official launch of a Request for Proposals (RFP) for the landmark Basseterre Valley Solar Photovoltaic and Battery Energy Storage System (BESS) Project. The initiative, which includes a 50-megawatt solar facility paired with a 30.5-megawatt/30.5-megawatt-hour storage system, is being hailed by senior government officials as a transformative step toward the nation’s sustainable development goals.

Honourable Konris Maynard, Minister of Public Infrastructure, Energy and Utilities, described the RFP launch as a historic milestone for the twin-island federation during that day’s Prime Minister’s Press Conference with Cabinet Ministers. He emphasized that the project reached this stage only after formal Cabinet approval and a rigorous 12-month due diligence process, designed to ensure full transparency and rigorous planning from the outset.

“This is historic, it is transformative, and importantly, it is very transparent,” Maynard told reporters. “This project will provide approximately 30 percent of our national energy needs, and we have gone about it the right way. We have engaged top-tier professionals to deliver every phase of pre-development work, from grid impact assessments to techno-economic analysis and global market sounding, to incorporate best practices and develop an optimal design for our national context.”

Led by the St. Kitts Electricity Company Ltd (SKELEC), the project benefits from technical and legal guidance from a team of leading international advisors, including Castalia, ILF Consulting Engineers, GIDE, and Merchant Law. Once operational, it is projected to deliver three core long-term benefits for the nation: dramatically strengthened domestic energy security, reduced dependence on costly and carbon-intensive imported fossil fuels, and accelerated progress toward the country’s 2030 renewable energy commitments outlined in its United Nations Nationally Determined Contributions (NDCs).

Minister Maynard also laid out the clear procurement timeline for interested bidders: the RFP window is now officially open for a 90-day bidding period. After submissions close, the process will move to independent evaluation, final contract negotiations, and a projected construction start in the coming months.

Beyond national benefits, Maynard highlighted the project’s potential to set a regional benchmark for responsible, transparent renewable energy development. “This is going to be talked about across the region as a best practice approach to our energy transition,” he noted.

A core priority of the government’s approach to the project is ensuring broad local participation across all stages of development and operation. Maynard issued a direct call for domestic businesses, local entrepreneurs, and national residents to leverage the economic opportunities created by the large-scale infrastructure initiative, stressing that no local stakeholder would be locked out of the process.

“I do not want this to be open to everyone, and then when it’s closed [people say] ‘well we do not know’,” Maynard said. “Whether you provide food services during construction, whether you operate a local contracting company, whether you can offer consulting expertise, whether you have existing solar sector capabilities, whatever your expertise, we have made sure that this project is open and available to the residents of Saint Kitts and Nevis.”

Interested stakeholders, both international and domestic, can access full RFP documentation and register to participate through the official bidder portal. Local contractors and independent domestic investors seeking to participate have dedicated registration pathways to signal their interest, designed to lower barriers to local engagement.

When completed, the Basseterre Valley Solar and Battery Project will not only deliver a critical chunk of the nation’s electricity demand to support a cleaner, more resilient and self-sufficient energy system, it will also create widespread economic opportunities that benefit communities across Saint Kitts and Nevis.

CHARLESTOWN, Nevis – March 30, 2026 – The Nevis Branch of the Financial Services Regulatory Commission (FSRC) has formally announced the appointment of Andre Cadogan as its new Senior Regigator, with the appointment taking effect on March 1, 2026.

Cadogan succeeds Heidi-Lynn Sutton, who completed her tenure in the role after a period of committed public service to the Nevis FSRC branch. With more than 30 years of multifaceted experience across the global banking and financial services sectors, Cadogan brings deep expertise spanning senior executive leadership, enterprise risk management, regulatory compliance, and large-scale project management to the senior leadership post.

In his new role, Cadogan will support the FSRC in advancing its core mandate: licensing, ongoing supervision, and comprehensive oversight of all financial entities that operate within Nevis or from the jurisdiction. His broad portfolio covers strategic organizational leadership, end-to-end regulatory oversight and compliance monitoring, development and administrative implementation of regulatory legislation, stakeholder engagement with industry and government partners, and advisory guidance for the commission’s strategic initiatives.

Before taking up this appointment, Cadogan held a series of senior leadership roles across the Caribbean financial industry, most recently serving as Vice President of Compliance at Deriv. He previously held the position of Chief Executive Officer at The St. Vincent Cooperative Bank Limited, and served as Country Head for St. Kitts, Grenada, and St. Vincent at CIBC FirstCaribbean International Bank.

Academically and professionally, Cadogan holds a Master of Business Administration from the University of the West Indies’ Sagicor Cave Hill School of Business and Management. He is also a Certified Associate in Project Management through the Project Management Institute, and holds an Accredited Director designation from the Governance Training Institute of Canada.

In comments following his appointment, Cadogan shared that he aims to bring a new, forward-looking perspective to regulatory risk management for Nevis’ financial sector. He noted that while regulatory risk presents substantial challenges for both Nevis and the broader Caribbean region, the landscape is also increasingly complex, requiring regulators to strike a careful balance between mitigating emerging threats and unlocking new growth opportunities for the jurisdiction. He added that he is eager to contribute to meaningful, lasting transformation across Nevis’ financial services ecosystem.

Honourable Mark Brantley, Premier of Nevis and Minister of Finance in the Nevis Island Administration (NIA), publicly welcomed Cadogan’s appointment, expressing strong confidence that the new Senior Regulator’s extensive industry and regulatory experience will advance ongoing government and commission efforts to strengthen and modernize Nevis’ financial services regulatory framework.

This announcement was distributed via press release from the NIA.

Nestled in the Eastern Caribbean, the small island of Nevis is on the cusp of a clean energy transformation that could reshape its economic and energy future. As of late March 2026, the Nevis Island Administration (NIA) has confirmed it is in the final stages of contracting with Iceland Drilling Company Limited to launch exploratory drilling for the island’s ambitious geothermal energy development project, marking the most significant milestone for the initiative to date.

High-level stakeholder talks held on March 26 brought together key leaders from both sides to resolve remaining technical and contractual details. Leading the NIA delegation were Nevis Premier and Minister of Energy Mark Brantley, alongside NIA Cabinet Secretary Stedmon Tross, Permanent Secretary for the Premier’s Ministry Wakely Daniel, Nevis Electricity Company (NEVLEC) Acting General Manager and Chief Financial Officer Roma Merchant, and project coordinator Naftalie Errar. Representing the drilling firm were CEO Sveinn Hannesson and Legal Counsel Lyes Kennouche, who also held separate working sessions with NEVLEC, the local agency tasked with implementing the project.

In a monthly press briefing held March 30, Brantley shared a promising update on the project’s timeline. According to Brantley, Iceland Drilling has laid out an aggressive schedule that would see mobilization completed and drilling operations get underway as early as August 2026. The firm’s drilling rig is currently enroute to Iceland for mandatory repairs and retrofitting, after which it will sail directly to Nevis to begin work.

“I’m optimistic that we can make it, bearing in mind that we’re now in April,” Brantley told reporters. “But they feel that the drill rig … can then sail to Nevis to commence the drilling operations here, which will be a significant forward step in terms of our geothermal ambitions.”

Geothermal energy has long been framed as a game-changing opportunity for Nevis. Geological surveys confirm the island holds one of the Caribbean’s largest untapped geothermal resources, with estimates suggesting total potential output could reach as high as 900 megawatts—far more than the small island’s domestic energy needs.

The first phase of development is more modest in scope: the exploratory drilling phase will core multiple test wells to confirm resource viability, laying the groundwork for an initial 10 to 30 megawatt geothermal power plant. Once operational, this facility will be able to meet 100% of Nevis’ domestic electricity demand, while also delivering surplus power to neighboring St. Kitts, part of the broader Federation of Saint Christopher and Nevis.

Looking further ahead, the NIA’s long-term vision would turn Nevis into a regional renewable energy hub, capable of exporting low-cost, zero-emission geothermal power to other island nations across the Eastern Caribbean, many of which rely almost entirely on expensive imported fossil fuels for electricity generation.

Brantley emphasized the urgency of accelerating the project amid ongoing global energy market volatility, driven by simmering geopolitical tensions in major oil-producing regions. As both Premier and Minister of Finance, he warned that persistent spikes in global oil prices would inevitably translate to higher costs for nearly every sector of Nevis’ economy, from electricity rates to the price of imported food, local agricultural and seafood goods, and public transportation.

“That is why I keep saying to our people, we must remain engaged. We must watch the news. We must pay attention… because the reality is that once the price of oil goes up, everything goes up with it. The world is fuelled by energy,” Brantley said. “And I said that at this point because it simply reinforces why we must proceed with our geothermal potential in as aggressive a manner as we can.”

With contract finalization imminent and drilling on track to start as early as the third quarter of 2026, the Nevis geothermal project is entering its most critical implementation phase to date. If successful, the initiative will deliver long-term lower energy costs for local residents, reduce the federation’s dependence on volatile imported fossil fuels, and cement Nevis’ position as a leader in renewable energy transition across the Caribbean region.