Charlestown, Nevis (Tuesday, May 24th, 2011) Nevisian Premier, the Hon. Joseph Parry met with Export Import (Ex-Im) Bank officials in Washington, D.C recently to finalize arrangements for the financing of a 10MW geothermal electricity plant on Nevis. The Nevis Island Administration has provided a guarantee for West Indies Power’s application for financing from Ex-Im to develop the power plant.

The Hon. Joseph Parry met with Ex-Im Senior Officials, Chairman and President, Mr. Fred P. Hochberg, Vice President of the Structured Finance Department, Mr. Ken Barney and Chief of Staff, Michaela E. Richiute among others.

Premier Parry has declared that his Administration is committed to reducing the cost of electricity for Nevisians by 40% in the medium term and supporting the geothermal project brings that reality even closer to a certainty.