Nevis Island Administration (NIA) and Nevis Renewable Energy International, Inc. (NREI) Sign Geothermal Concession Agreement

ThomasDrolet-1NIA Charlestown Nevis — The following is the full text of a press release from the Nevis Renewable Energy International Inc. (NREI) dated September 02, 2014, regarding an agreement with the Nevis Island Administration for geothermal energy development.

The Nevis Island Administration (NIA) and Nevis Renewable Energy International, Inc. (NREI) are pleased announce the successful completion and signing of a Concession Agreement that is an important and critical step forward for the development of Geothermal Power for the Island of Nevis.

This agreement initiates the phased process of financing, geologic testing, drilling, design and construction of a geothermal power generating station that will provide lower cost, renewable electrical energy for businesses, citizens and residents of Nevis.

The Deputy Premier Honourable Mark Brantley as a special representative of the Cabinet of the NIA and Mr. Thomas S. Drolet, President and CEO of NREI, have worked collaboratively with their respective staffs to ensure that lower cost, renewable, sustainable electrical power can be provided to Nevis.

The NIA/NREI joint effort has included support from the US State Department’s Bureau of Energy Resources from Deloitte Consulting LLP and from the technical leadership team at the USA publically listed Tetra Tech Inc., headed by John Borgersen. This collaborative effort will facilitate the building and operation of a geothermal facility that will serve to enable a transition to a more affordable, renewable and sustainable energy source on Nevis Island and be a gateway project for the Caribbean.

The Nevis Geothermal Facility is expected to provide all the Nevis Electrical Company Ltd. (NEVLEC) dependable capacity and electrical energy that the facility is capable of producing, up to and including 10 MWe.

HonMarkBrantleyHeadshotIThe next immediate agreement priority is to finalise a Power Purchase Agreement (PPA) between NEVLEC and NREI.

The NIA is committed to bringing affordable and renewable energy to Nevis. “This is a significant milestone on the path to greener living,” stated Deputy Premier Brantley. “The use of renewable energy will result in a reduction of emissions of pollutants and greenhouse gases and a reduction in energy costs to our citizens; thus advancing Nevis’ commitments to its citizens and residents and promoting Nevis’ stated goal of becoming the greenest place on planet Earth.”

“NREI is pleased to be part of this important project and fully supports the goals and objectives of the NIA,” states Thomas Drolet, President and CEO of NREI. “We look forward to enhancing the quality of life for the residents of Nevis and we are delighted that the project will further enhance the potential for economic development, growth and much greater investment in Nevis.”

Mr. Thomas Drolet is a senior energy executive with over 43 years of experience I public utility infrastructure, including geothermal, hydroelectric, coal, natural gas, nuclear and solar power generation. An experienced management team that consists of Mr. Domenic Falcone, Chief Financial Officer, Ms. Janice Feldman, VP Corporate Communications, Mr. Bruce Cutright, Chief Technical Officer and Mr. Steven Solazzo, advisor to the NREI team is assisting Mr. Drolet.

For further information please contact as below Ms. Janice Feldman, VP Corporate Communications, NERI and the NIA Deputy Premier, the Honourable Mark Brantley.

Janice Feldman, VP,
Corporate Communications
NRE International, Inc.
Suite 1-7085 York Street Englewood, Florida 34224, USA
Email: jfeldman@nreinternational.com
Mobile: +1 604.377.2942
www.nreinternational.com

The Honourable Mark Brantley
Nevis Island Administration
Phone #: 1(869) 469-5821
Email: mark.brantley@niagov.com

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