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Jamaica boosts its energy industry

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Jamaica boosts its energy industry

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Island focused on the development of renewable energy sources

KINGSTON, Jamaica – The Caribbean leader in renewable energy, Jamaica, is taking important steps to drive diversification of its energy sector as the government seeks to implement the island’s ambitious Integrated Resource Plan (IRP).

The initiative has set a goal of adding around 1,600 megawatts (MW) of generating capacity over the next 20 years to expand the island’s energy resources. The objective is to facilitate the reduction of energy prices and reduce the vulnerability of the energy sector to external shocks such as oil prices. The IRP creates business opportunities in the form of requests for proposals (RFPs) seeking investors to meet the demand for more power generation.

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The PIR targets include 1,260 MW of wind and solar energy, 330 MW of liquefied natural gas (LNG) and 74 MW of hydroelectric, biomass or waste energy by 2037. JAMPRO, Jamaica’s investment promotion agency, It is tasked with ensuring local investment and foreign investment that will drive the success of the plan and the achievement of these objectives.

The island is on the way. Jamaica wants to have 33 percent of electricity generation from renewables by 2030, and there are already impressive renewable energy projects on the island that are proving to be a solid foundation for the country’s energy resource plan. 20 megawatt (MW) Content Solar Ltd. WRB Energy Company’s solar power generation plant in Clarendon is one such example. In Westmoreland, Jamaica’s largest photovoltaic power plant, the 51 MWp (megawatt peak) Paradise Park solar farm is one of the cheapest power producers on the island.

There is also the Wigton wind farm in Rose Hill, Manchester, which is the largest facility of its kind in the Caribbean with a 20.7 MW plant and an 18 MW extension facility. Jamaica’s energy provider Jamaica Public Service’s (JPS) Munro wind farm has a capacity of 3 MW, while Blue Mountain Renewable (BMR) Jamaica Wind generates 34 MW. In St. Elizabeth, the utility company JPS operates a 7.2 MW hydroelectric plant in Maggoty.

On these projects, Don Gittens, Logistics, Energy and Infrastructure Manager at JAMPRO, stated “Current renewable energy projects account for approximately 14% of power generation in Jamaica, but our goal is 50%.. So there is a great opportunity because we have that gap between 14% and 50% that we intend to fill with additional investments in renewable energy.. ”

Jamaica is currently looking to acquire 320 MW of wind and solar energy, 120 MW of LNG and 74 MW of hydro, biomass or residual energy for this year. Gittens elaborated: “That is the opportunity that exists now for investors, so these are very exciting times.. ”

High interest in Jamaica’s energy sector

According to JAMPRO, there is great interest in Jamaica’s energy sector. The Agency is entertaining various local and international investors who are interested in participating in the RFP that will come with the above mentioned power generation opportunities.

JAMPRO maintained this interest during the pandemic, as the organization decided to intensify its marketing activities. The company increased its digital reach and its direct engagements with industry leaders and business executives locally and internationally.

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Diane Edwards, President of JAMPRO, said: “While there was a sense of uncertainty, especially at the beginning of the pandemic, we knew that we had to continue to nurture our relationships and the renewable energy opportunity in Jamaica, and increase our marketing activities. COVID-19 re-emphasized the fact that sectors such as logistics, energy, and agriculture must be top priorities, so the government of Jamaica really used this time to identify areas that needed even greater focus as we continue. with the development of Jamaica “.

Sector development initiatives have continued and JAMPRO has partnered with entities such as New Energy Events and REA – The Association for Renewable Energy & Clean Technology in the UK to continue its global promotion of the energy industry. Jamaica has also started work on the development of an electronic vehicle charging network, confirming the country’s commitment to alternative energy sources.

This is a very exciting time within the local and global energy sector, as everything is moving towards renewable energy.Gittens was delighted. “Once the RFPs are ready, we are confident that there will be a large amount of investment.. ”

ABOUT JAMPRO

The mission of Jamaica Promotions Corporation (JAMPRO) is to drive economic development through investment and export growth. JAMPRO is an Agency of the Ministry of Industry, Investment and Commerce.

To learn more about JAMPRO, visit https://dobusinessjamaica.com/.

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View the source version on businesswire.com: https://www.businesswire.com/news/home/20210809005015/en/

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Contacts:

Integrated Marketing Communications
Tamica Parchment
tparchment@jamprocorp.com
Tele: 876-978-7755

#distro

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