JPS signs power purchase agreement with BMR
JAMAICA Public Service (JPS) has signed a power purchase agreement (PPA) with BMR Jamaica Wind Ltd that will see JPS purchasing energy from the renewable power generation company. The agreement has a lifetime of 20 years.
BMR is spending US$90 million to construct a 34-megawatt wind farm that will see 11 turbines being erected near Malvern, St Elizabeth, in close proximity to the JPS Munro Wind Farm. The new wind farm is expected to save the country importation of 250,000 - 300,000 barrels of oil per year, or up to 6,000,000 barrels of oil over the 20-year term of the PPA, the JPS said yesterday. Additionally, JPS has the option to purchase a 20 per cent interest in the project.
Yesterday, JPS described the development as "a significant milestone in the country's energy security and diversification programme, and represents another important step toward reducing the cost of electricity".
It is expected that the project will create between 90 and 120 new jobs during periods of construction, which will commence in August 2014. Commissioning is scheduled for September 2015.