HANOVER, Jamaica — Operators of the Grand Palladium Resort and Spa in Hanover says that the facility is set to save over J$80 million in energy cost per year from the installation of a solar PhotoVoltaic (PV) power plant.

The solar power PV plant said to be the largest in Jamaica to date was unveiled at the hotel on Friday May 30.

According to the Spanish-based hotel, investment in the project totalled US$3.4 million and full return is projected after four years, with a US$21.9 million in energy savings over 30 years.

General Manager of Grand Palladium Jose Morgan, while addressing the official unveiling ceremony on Friday, said that his hotel was the first in Jamaica to embark on such an investment.

Morgan encouraged other companies able to undertake a similar investment to do so, “and in the end, it’s a win, win, your pocket will win, the tourism sector will win, Jamaica as a destination will win.”

The system was installed by local company, Sofos Jamaica, an arm of the Barcelona, Spain based Sofos Group.

“This is the first major project for us in Jamaica but we are already working with Digicel Jamaica and in the Tryall Golf Club in Hanover. We also have many other projects with different Jamaican companies that will begin soon,” Juan Mayoral, CEO of the Sofos Group said at the unveiling.

Meanwhile, Minister of Science, Technology, Energy and Mining Phillip Paulwell in expressing his support congratulated Sofos Jamaica on the historic project.

Paulwell told the gathering that the Government of Jamaica is also doing its part to ensure small hoteliers can invest in renewable energy solutions. He announced that based on current trajectory, “solar will become the cheapest energy source by 2030 if we (Jamaica) continue to benefit from economies of scale”. He also encouraged other local hoteliers to demonstrate their commitment to reducing energy bill by undertaking similar projects.