Business
Jamaica: Energy World International granted license for Natural Gas project
A Hong Kong-based company has been granted a license for what would be a major new power project in Jamaica, the island-nation’s energy minister announced Tuesday.
Phillip Paulwell said Energy World International is to supply 381 megawatts of natural gas-fired generating capacity for Jamaica’s power grid. He called the project a “game changer” for the country, which is almost entirely dependent on imported petroleum and diesel fuel.
The project would be the biggest power plant in Jamaica and be implemented over a period of 26 months, Paulwell said.
Paulwell said the proposed plant is “among the first steps toward reducing the price for electricity to the productive sectors and the wider Jamaica population.”
High energy costs have long been identified as a major reason for Jamaica’s chronically sluggish economy. Jamaicans pay US$0.42 per kilowatt hour and the country’s sole power utility, Jamaica Public Service Co. Ltd., has recently applied for a non-fuel tariff increase that could result in its residential customers soon paying an average 21 percent more.
Paulwell said other benefits of the project include fuel-source diversification, a step toward a future with cleaner energy, and improved competitiveness and job creation.
Energy World did not respond to an email seeking comment about the license.
