SUN-POWERED SECURITY
Through its National Energy Policy, Jamaica is targeting a 30% renewable share by 2030 and already experiencing significant successes given the competitiveness of renewables in the Caribbean.
As part of Vision 2030, the National Energy Policy plans to create a “modern, efficient, diversified, and environmentally sustainable energy sector.” Currently, Jamaica sources more than 85% of its electricity from petroleum-based power plants. Given that Jamaica does not currently extract any oil, the fuel is entirely imported.
Jamaica's future depends on attaining energy security through more sustainable and cost effective solutions. According to the Statistical Institute of Jamaica, the total cost for mineral fuels in 2016 amounted to USD934.9 million, which represents a significant environmental and economic cost. Indeed, households and the industry are harmed by relatively high energy prices, representing a competitive disadvantage in international markets.
This new policy sets a 30% share of energy from renewables by 2030 and defines energy infrastructure, efficiency, and regulatory frameworks as key areas to improve. For its scale and continued development, Wigton wind farm, a subsidiary of the government-owned Petroleum Corporation of Jamaica (PCJ) established in 2004, is perhaps the biggest success in Jamaica's renewable energy matrix thus far. Since the commissioning of an additional 24MW in 2016, Wigton wind farm produces about 7.5%, or 62MW, of the total energy capacity in Jamaica and operates a newly constructed laboratory and training center.
In 2016, Content Solar launched a 20-MW solar power plant. WRB Enterprises won the bid for the Content Solar project and acquired USD62 million in financing for the project from the Overseas Private Investment Corporation (OPIC) and the US' Development Finance Institution. According to WRB Enterprises, the plant will power more than 20,000 homes under a 20-year PPA with Jamaica Public Service Company (JPS). It is the country's first utility-scale solar plant, and WRB Enterprises praised Content Solar as the first company in the Caribbean to provide reliable, cost-effective renewable energy.
OPIC is helping to finance other renewable energy projects on the island including BMR Energy LLC's 36-MW wind farm. The project includes 11 turbines financed by OPIC, International Finance Corporation (IFC), and IFC-Canada. Like Content Solar's photovoltaic plant, power from the BMR Jamaica Wind Project is sold to JPS through a PPA in efforts to diversify JPS's power sources away from oil.
A USD30-million efficiency initiative was also negotiated under the Energy Management and Efficiency Program, supported by the Inter-American Development Bank and Japan International Cooperation Agency. The program will manage energy audits and improve energy efficiencies in high-energy consuming public institutions and in the transport sector.
Even without subsidies from the government and despite the sharp decline in oil prices in recent years, renewable energies have become competitive in Jamaica. Excess solar energy can be returned to the grid through net billing, and hydropower, biofuels, and energy from waste should experience significant development in the coming years. Sugar cane, a product with a complicated, 300-year history in Jamaica, is finding new purpose as a cost-effective biofuel. PCJ also highlighted the high potential for castor oil as an efficient, environmentally sustainable biofuel.
Dr. Andrew Wheatley, Minister of Science, Energy, and Technology, announced that the government would advertise requests for proposals for the supply of an additional 150MW of renewable energy. Among the 150MW, 50MW would be reserved for waste energy, an effective method of waste volume reduction and clean energy generation. The other 100MW could come from wind, solar, and hydro energy. PCJ has already confirmed the commercial viability of 40MW of hydro energy at five river sites. Speaking at the launch of the sustainable energy and climate change master's program at the University of Technology, Dr. Andrew Wheatley pointed out that in 2016, 13.5% of the electricity coming to the grid was renewable and that Jamaica was ahead of schedule in regard to Vision 2030.
SUN-POWERED SECURITY
TABLE OF CONTENTS
Interview
Most Honourable Andrew Holness, Prime Minister, Jamaica
TBY talks to the Most Honourable Andrew Holness, Prime Minister of Jamaica, on efforts to foster sustainable and inclusive growth, the main challenges ahead for the nation, and its key successes in improving the business environment.
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Diane Edwards, President, Trade & Investment Jamaica (JAMPRO)
TBY talks to Diane Edwards, President of Trade & Investment Jamaica (JAMPRO), on making investments throughout the whole value chain, becoming a regional distribution hub, and boosting niche agricultural output.
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Courtney O. Campbell, President & CEO, Victoria Mutual
TBY talks to Courtney O. Campbell, President & CEO of Victoria Mutual, on the origins of financial inclusion in Jamaica, helping people get a start on their property journey, and assisting young businesses to exploit a positive business environment.
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Raymond Walker, Founder, Chairman & CEO , Caribbean Assurance Brokers Ltd. (CAB)
TBY talks to Raymond Walker, Founder, Chairman & CEO of Caribbean Assurance Brokers Ltd. (CAB), on fighting for its clients, using environmentally sound methods to drive down costs, and continuously driving innovation.
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Emanuel DaRosa,, President & CEO, Jamaica Public Services (JPS)
TBY talks to Emanuel DaRosa, President & CEO of Jamaica Public Services (JPS), on pursuing common goals in the best possible way, utilizing Jamaica's most abundant natural resources, and satisfying half of Jamaica's energy needs through renewables.
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Winston Watson, Group General Manager, Petroleum Corporation of Jamaica (PCJ)
TBY talks to Winston Watson, Group General Manager of Petroleum Corporation of Jamaica (PCJ), on keeping a hand in both green and black energy, helping the government reach its 2030 Energy Vision targets, and educating people on the importance of conservation.
read articleFocus: LNG Investments
Light My Fire Jamaica
The Jamaican government is pushing private investment in liquefied natural gas (LNG) to provide cheaper and cleaner energy to households and businesses. Through partnerships with local and international companies, New Fortress Energy is leading the way to ignite this sector.
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Gordon Shirley, President & CEO, Port Authority of Jamaica (PAJ)
TBY talks to Gordon Shirley, President & CEO of the Port Authority of Jamaica (PAJ), on the country's developing role as a logistics hub, attracting more cruise ships, and his outlook for the economy at large.
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Fritz Pinnock, President, Caribbean Maritime University
TBY talks to Fritz Pinnock, President of Caribbean Maritime University, on capitalizing on the rising power of the global south, customizing goods before they reach the final consumer, and leveraging Jamaica's geostrategic location to create added value.
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Winston Adams, JP, Executive Chairman, University of the Commonwealth Caribbean (UCC)
TBY talks to Winston Adams, JP, Executive Chairman of the University of the Commonwealth Caribbean (UCC), on the university's illustrious history, its upcoming strategies, and Caribbean Knowledge City.
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Michael Williams, Acting Executive Director , Mona School of Business and Management
TBY talks to Michael Williams, Acting Executive Director of Mona School of Business and Management, on maintaining quality across its programs, its achievements in the Caribbean, and the school's research-based approach.
read articleFocus: Downtown Kingston Revitalization
Drinking from the Fountain of Youth
Although the subject of much talk, downtown Kingston has been relatively neglected for many years while surrounding areas of the city attracted more real estate developments. A series of public and private investments indicate that the trend is finally reversing.
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Timothée F. Delebarre, Country Manager, VINCI Construction Grands Projets (VCGP)
TBY talks to Timothée F. Delebarre, Country Manager of VINCI Construction Grands Projets (VCGP), on diversifying their business lines, expanding Kingston's Port, and developing innovative financing mechanisms.
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Dittie Guise, General Manager, Montego Bay Convention Centre (MBCC)
TBY talks to the late Dittie Guise, General Manager of Montego Bay Convention Centre (MBCC), on marketing the convention center, creating an integrated tourist experience, and preparing for more events and visitors.
read articleFocus: Linking Tourism
Lifting All Boats in the Rising Tide
Although significantly contributing to the economy, tourism in Jamaica suffers from an inadequate level of linkage with other sectors. The government, in partnership with private actors, is launching a number of initiatives to ensure that international tourists meet local businesses.
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Natalie St. Louis, Founder, CEO & Managing Director, Strategic Konnections & Management Services Limited
TBY talks to Natalie St. Louis, Founder, CEO & Managing Director of Strategic Konnections & Management Services Limited, on working with businesses to further their goals, the importance of engaging with consultants, and goals for the coming year.
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