Black Immigrant Daily News

Basseterre, St. Kitts and Nevis, October 24, 2022: The Minister of Environment and Climate Action Hon. Dr. Joyelle Clarke and Minister of Energy & Utilities Hon. Konris Maynard met with several stakeholders on Sunday 23rd October 2022 to discuss proposals for short, medium, and long-term actions that are necessary for a secure and resilient energy sector in St. Kitts and Nevis. 

Also present at the meeting were Dr. Devon Gardner, Head of Technical Programmes at the Caribbean Center for Renewable Energy & Energy Efficiency (CCREEE); Mr. Joseph Williams, Sustainable Energy Adviser at the Caribbean Development Bank (CDB), Permanent Secretary (PS) in the Ministry of Environment & Climate Action, Ms. Sharon Rattan; Permanent Secretary (PS) in the Ministry of Energy & Utilities’ Mr. Daryl Lloyd; Mr. Clement Jomo Williams, General Manager at SKELEC; Mr. Albert Gordon, General Manager at NEVLEC; Ms. Naftalie Errar, Project Manager for Geothermal Project on Nevis; and Mr. Ian Ward, Chief Engineer at NEVLEC. 

The intent is that the proposals would provide decision-support to the Cabinet as it seeks to determine the appropriate energy future and energy mix for the Federation. 

During the meeting they discussed with NEVLEC the interconnection of the Electricity Grid in St. Kitts and the Electricity Grid in Nevis as an interconnection affords the Federation the opportunity to have One Grid thereby increasing the resilience of power supply across the two islands. 

Hon. Konris Maynard spoke to the collaboration between NEVLEC and SKELEC at the Prime Minister’s Press Conference held on Monday 17th October. 

“We are exploring the vast possibilities with geothermal energy. We had at least two (2) meetings thus far with the officials of NEVLEC and we are now at the point where there is going to be test well effectively being done o ascertain the viability of the geothermal reservoir that is there. At this point the thinking is that Nevis’ geothermal wells will have enough energy in the first instance to support not only Nevis, but also St. Kitts. So they are collaborating with SKELEC on how we are going to integrate both of our grids such that we now create one grid for the Federation of St. Kitts and Nevis” 

This would mean that as St. Kitts expands its power generation capacity driven by renewable energy sources, Nevis can benefit. Similarly, as Nevis’ power supply expands to include renewable energy, St. Kitts can benefit. 

Coming out of the discussions, PS Rattan and PS Lloyd will spearhead the establishment of an Energy Task Force with the goal of ensuring that our identified actions are effectively executed, and the necessary support structures are put in place. 

Hon. Konris Maynard added that “The future certainly looks positive for a sustainable energy mix of Solar, Wind, Geothermal and others and we are doing the work to make it happen.” 

During the Prime Minister’s Press Conference, Hon. Konris Maynard alluded to the said future, hinting that “we must imagine and explore other possibilities”. 

“If it is that this initial exploration [geothermal collaboration between NEVLEC and SKELEC] goes as is expected, and I understand the possibility of success is in the ninety (90) percentiles, then we have to look at the real options of going further, using St. Kitts and Nevis as a point to connect to other islands. Imagine a day when St. Kitts and Nevis could be the bright beacon in the northern Caribbean Sea, where we are providing energy not only for ourselves, but almost the entire Eastern Caribbean.” 

St. Kitts and Nevis are now in the transition phase where we are moving away from fossil fuels to  exploring all the different mixes of renewable energy. 

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Black Immigrant Daily News

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Black Immigrant Daily News

Sygnus Deneb Investments (SDI), the private equity investment company managed by Sygnus, has announced the completion of a US$4 million equity investment in Chukka Caribbean Holdings effective October 7, 2022.

The investment was made through the issuance of Convertible Preference Shares that will help the company to continue its strategic expansion and deepen its regional footprint, providing world-class nature adventure excursions across the Caribbean.

“This investment in Chukka is directly aligned with Deneb’s strategy to provide growth capital to middle market firms with established track records to catalyse their growth and strengthen their capital structure and balance sheet” stated Ike Johnson, Chief Operating Officer, Co-Founder and Head of Private Equity and M&A at Sygnus Group.

The Chukka Group is one of the leading Nature Adventure Tour Operators in the Caribbean. With a commitment to delivering the highest quality tours with well-trained guides and stringent safety standards, the company takes pride in showcasing the natural beauty of the Caribbean through unique and sensational experiences and providing opportunities for local residents and businesses.

Today, Chukka operates over 85 tours in five countries, namely Jamaica, Belize, Turks & Caicos, the Dominican Republic and Barbados, including eight cruise ship ports.

Chukka expanded its reach in 2020 by acquiring Resort Solution Ltd which operates the largest Watersports company in Jamaica from 9 major resorts on the North Coast.

The company also offers other services to resorts such as the Tour Desk and Gift Shop at the renowned Round Hill Hotel and Villas and the Valet Parking Desk, Concierge/Tour Desk and Airport Transfers at the newly opened ROK Hotel in Downtown Kingston.

Marc Melville, CEO of Chukka Caribbean Adventures shared, “We have a growth strategy, and we see a lot of opportunity and untapped potential in the region and many outstanding natural assets that people want to experience. In order for us to fully capitalise on all of these opportunities and further grow our business we thought private equity would be the right way to go. Finding the right private equity partner is no different than finding the right business partner. What we have found in the Sygnus team is the same as our own Chukka DNA, they understand people, focus on partnership, are visionaries and growth-oriented.”

SDI is a regional Private Equity (PE) investment company managed by Sygnus and is dedicated to providing equity and mezzanine capital in the key growth industries regionally. It targets investments in medium-sized companies with revenue ranging from US$5 million to US$50 million.

The fund typically invests in private companies via equity, convertible preference shares, subordinated debt, and other hybrid securities with equity components.

The investment in Chukka is the second portfolio investment by Sygnus Deneb, with the first being Aruba Wine and Dine made in 2020.

Sygnus Deneb has a robust pipeline of opportunities valued at almost US$100 million, which includes industries such as logistics, energy, maritime, retail, manufacturing and distribution, and we are looking to close additional deals before the end of the year.

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The National Green Party (NGP) has congratulated Crusita Descartes-Pelius on her recent appointment as Acting Police Commissioner.

“On behalf of our party and the executive members, we would like to congratulate our new Commissioner of Police – a daunting task, to say the least, Madam Commissioner,” NGP leader Andre ‘Pancho’ de Caires stated.

He told St Lucia Times that Descartes-Pelius had taken office during a high crime period.

“We are going through many experiences in terms of criminality from the lowest levels to the highest levels,” he observed.

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Nevertheless, de Caires said the NGP would support all efforts to bring crime under control.

But he noted that the NGP does not support capital punishment as a green party, although he knows that many countries are returning to judicial executions.

“We don’t believe in capital punishment,” the NGP leader explained.

As a result, he noted the need to find means to alter personalities and remove criminality from people’s minds.

The NGP leader declared that the job of the new Acting Police Commissioner would be challenging.

However, he said Descartes-Pelius has the NGP’s support.

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