PM Drew Witnesses Signing of Historic Memorandum of Understanding between UAE-Based Investment Firm and Siemens Energy for Geothermal Energy Project
Abu Dhabi, United Arab Emirates, April 18, 2024 [PMO] – Prime Minister The Hon. Dr. Terrance Drew participated in a signing ceremony of a historic Memorandum of Understanding (MoU) between UAE-based K&K Group and Siemens Energy, a global leader in the energy business to initiate the groundbreaking geothermal energy project in the Federation.
The signing of this MoU initiates the feasibility studies, proposal planning, and technical documentation required for the commencement of the clean energy project.
Commenting on the MoU’s significance, Prime Minister Drew thanked the signing Parties for their commitment to the Federation and having confidence in the Government in enabling such a historic investment in the country. Dr. Drew said “St. Kitts and Nevis will be the first Green Country in the World and will be a beacon of inspiration for others to follow. We may be small in size but we are big in ambition. As Prime Minister, I take leadership of the cause and ownership of the process”.
According to Karim Amin, Executive Board Member of Siemens Energy, “The Prime Minister is a visionary, he appreciates the importance of the mission and opportunities for the wider region. Siemens will bring the most innovative technologies to the table and is committed to a robust, sustainable partnership”.
During the event, Dr. Tajeddine Seif – Chairman of the K&K Group, repeated his firm’s commitment to excellence, partnership, and a sense of urgency in tapping into the geothermal resources of the islands. According to Dr. Seif “Just a couple of days ago right here in Dubai we experienced epic flooding in a desert and widespread destruction with the heaviest rainfall ever seen in the UAE in 75 years. If that does not inspire the world to act, nothing else will. Dr. Drew is acting and leading on this call”.
Siemens Energy is an integrated energy technology company that provides support along the energy value chain. They focus on low- or zero-emission power generation, transport, and storage of energy while reducing GHG emissions and energy consumption in industrial processes.
The K&K Group is a premier market-leading private investment firm known for its strategic investments and innovation across various sectors. Investments are focused on renewable energy, green technologies, and sustainable infrastructure.
Further details about the project and the collaboration will be provided in the coming weeks.
The government remains dedicated to keeping the public informed as the project progresses.
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