CHARLESTOWN, Nevis, January 18th 2013 - The Nevis Island Administration (NIA) has stated that it is free to pursue the development of geothermal energy in Nevis by its own means pursuant to a High Court ruling made on January 16th. This statement by the NIA is not true. The ruling does not cancel West Indies Power (Nevis) Ltd (WIPN) existing contract with NIA to develop the geothermal resources on Nevis.
The High Court issued a ruling that WIPN does not agree with and consequently has instructed its legal counsel to file an appeal. WIP is in a position to meet its obligations and has always upheld its side of the contract signed with the NIA. WIP is ready to proceed, with the development of the Nevis geothermal resource, that it discovered at a cost of over US$10.000.000.
WIP has not been able to proceed with further development of this project due to obstacles that the NIA has placed in its way.
WIP will continue to defend its contractual rights to develop the geothermal resources located on Nevis.
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