Jamaica to get 36.3 MW wind farm by 2016

BMR Jamaica Wind Ltd. is building the wind farm about 90 kilometers west of the Jamaican capital of Kingston. They will operate and maintain the wind farm, which is expected to become operational in the first half of 2016.

A 36.3 megawatt wind farm in Jamaica has received $62.7 million in funding from the World Bank’s IFC and the governments of the United States and Canada.

BMR Jamaica Wind Ltd. is building the wind farm about 90 kilometers west of the Jamaican capital of Kingston. They will operate and maintain the wind farm, which is expected to become operational in the first half of 2016.

Upon completion, the project will sell power to the private electrical utility, Jamaica Public Service Company under the terms of a 20-year power purchase agreement.

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BMR Jamaica Wind Ltd.’s wind farm will be the largest renewable energy project developed by the private sector in Jamaica.

The IFC, which is a global development institution focused on the private sector, will providing a $10 million senior loan to the project from its own account. The IFC-Canada Climate Change program, which promotes private sector financing for clean energy project, will be providing an additional $10 million loan.

U.S. government development finance institution, OPIC, will provide a $42.7 million senior loan, bringing the total financing package to $62.7 million.

“This wind power project’s impact for Jamaica and the Caribbean renewable energy sector is both promising and pioneering,” said Lynn Tabernacki, OPIC’s Managing Director for Renewable Energy and Sustainable Development. “On an island where importing oil can cost far more than the renewable alternatives, examples like this show that clean power both benefits the environment and can make sound financial sense.”

Jamaica’s dependence on outdated oil-fired electricity generation has led to high electricity prices, which create a burden on the economy. This project is in line with Jamaica’s National Energy Policy, which has set a goal of diversifying the country’s energy matrix. – EcoSeed Staff

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