Science, Energy and Technology Minister Fayval Williams - file photo
Science, Energy and Technology Minister Fayval Williams has said the overwhelming response to the sale of shares in Wigton Windfarm to the public by the Government, clearly demonstrates that Jamaicans have the appetite to invest in the energy sector.
The Wigton Initial Public Offer (IPO), which was oversubscribed by $9 billion, saw approximately 31,000 Jamaicans purchasing shares.
Additionally, it resulted in 11,000 new investors joining the stock market.
Mrs Williams was speaking at a bond-signing ceremony between NCB Capital Markets Limited and New Fortress Energy (NFE), at the AC Marriott Hotel in Kingston, on Tuesday.
Against the background of the Wigton IPO response, Mrs. Williams said the plan by NFE to issue a bond to raise US$185 million is welcome.
The proceeds will be used to complete the combined heat and power plant being built at Clarendon-based bauxite and alumina refinery, Jamalco.
The Liquefied Natural Gas (LNG)-powered facility, which is slated for completion in 2020, will supply steam for the refinery's operations and electricity to the Jamaica Public Service Company (JPS).
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