The Jamaica Public Service Company (JPS) has finalised funding for its 190 megawatt power plant in Old Harbour Bay, St Catherine. The plant will replace the existing coal fired plant.
JPS CEO Kelly Tomblin told RJR News that funding was finalised with National Commercial Bank and other financiers for US$200 million . She says this is the first time the utility company has received funding from a local entity.
"Well I will say in general terms that our lead bank is NCB and there are seven other banks that will partake in the loan ....we have been able to arrange over US$200 million....."
The project is expected to cost an estimated US$300 million.
Renewable energy thrust
Meanwhile, the JPS will be increasing its thrust towards renewable energy in 2017.It says renewable energy and energy conservation will be its top priorities during the year.
The JPS is leading by example with the installation of solar panels on the car port of its offices in New Kingston and Ruthven Road.
This is expected to save the company 35 kilowatts of energy annually.
Head of Energy Solutions at the JPS, Kenyatta Campbell, says the project will be a first step in the push for renewable energy across Jamaica.
Connecting to grid procedure
Persons seeking to connect to the Jamaica Public Service Company grid will now be required to obtain a licence from the Energy Minister.
A statement from the Energy Ministry says effective January 1, all applications for Net Billing, Electric Power Wheeling and Auxiliary Connections are to be made directly to it.
The Office of Utilities Regulation will no longer accept applications for Net-Billing and Auxiliary Connections.
Applicants will be required to pay a non-refundable processing fee with successful applicants also paying a license fee.
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