Light and power company Jamaica Public Service (JPS) has received US$100 million in financing from the private sector lending arm on the Inter-American Development Bank, IDB Invest.
The funds will be used to boost the company's capital investment programme.
The transaction included the mobilisation of US$50 million from CIBC Caribbean, which acted as co-arranger.
JPS will roll the funds into its capital expenditure programme for this year.
CEO of IDB Invest James Scriven says JPS will also be able to accelerate Jamaica's climate-smart energy transformation.
The package will help fund the ongoing grid modernisation, smart meter deployment, transmission and distribution improvement and upgrades.
President and CEO of JPS, Steve Berberich, says the project will include investments to continue the light and power company's digital transformation.
JPS will also use the facility to help support the deployment of electric vehicle infrastructure, including 17 new EV charging stations.
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