The Minister of Science, Technology, Energy and Mining Hon. Phillip Paulwell has announced that Energy World International (EWI) was granted a Licence on April 14, 2014 to supply electric power to the Jamaica Public Service Company (JPS) under the terms of a Power Purchase Agreement (PPA) between the JPS and EWI.
In making the announcement, Minister Paulwell noted that the Licence which was finalized and issued on April 4, 2014 was amended and restated on April 14, 2014 to provide for some negotiated changes as well as to include a draft Implementation Agreement between the Government of Jamaica and EWI, outlining the commitments of both parties to employ best efforts to ensure the success of this very important project.
The Minister has emphasized that the 381MW gas (natural gas) fired power project is a game changer and among the first steps towards reducing the price for electricity to the productive sectors and the wider Jamaican population. The project will be implemented over a period of 26 months so that by mid 2016 customers of JPS will already be benefiting from reduced electricity cost.
Other benefits of the project include fuel source diversification to reduce the country’s vulnerability to volatile oil prices, significant reduction in the country’s carbon footprint towards a cleaner energy future, improved business competitiveness and accelerated job creation.
The project complements other initiatives under the Government’s energy sector reform programme towards achievement of Vision 2030 – Jamaica National Development Plan – “To make Jamaica the Place of Choice to Live, Work, Raise Families and Do Business.”
Minister Paulwell has indicated that he will very shortly be meeting with the Energy Monitoring Committee (EMC) to provide update on both the Licence and the draft Implementation Agreement and thereafter to make the documents public.