INVESTORS will construct some J$23.2 billion worth of green renewable energy projects in the island by next year, according to Julian Robinson.

It’s part of Government’s drive to reduce the island’s reliance on fossil fuels.

“Overall some US$200 million has been invested in renewable energy projects which will come on stream by the end of 2016,” said Robinson, minister of state in the Ministry of Science, Technology, Energy and Mining, on Monday at the launch of the Jamaica Alternative Energy Expo 2015, held at the Jamaica Pegasus Hotel in Kingston.

It comes days after the US-based Overseas Private Investment Corporation (OPIC) signed a US$47-million agreement with US-based WRB Enterprises to finance a 20 megawatt (MW) solar plant. OPIC is a US Government agency that sells investment services to assist US-owned companies investing internationally. WRB, a family-owned company with 60 years in the field, will construct the solar facility in Clarendon.

It’s the second project to be financed in support of the Caribbean Energy Security Initiative, launched by US vice-president Joe Biden in June last year.

“When completed, this solar project will be one of the largest solar projects in the region and certainly the largest in the English-speaking Caribbean,” explained Robinson, who described the project as strategically important to Jamaica.

WRB is one of three successful companies selected from 28 projects to provide up to 78MW of renewable energy. The others include Blue Mountain Renewables LLC (BMR), to supply 34MW of capacity from wind power at Munro, St Elizabeth; and Wigton Windfarm Limited (Wigton), to supply 24MW of capacity from wind power at Rose Hill, Manchester.

Jamaica aims to increase renewable generation to 20 per cent of the grid by 2030, as set out in the National Energy Policy (NEP) 2009-2030.

In June 2013, the state-led Office of Utilities Regulation (OUR) said that it received “28 bids from 20 interested entities” to supply 115MW of renewable energy to the national grid. The bids were tendered by both local and international entities. Eight of the proposals were received from local companies. Two proposals were received for wind, one for bio-mass and 25 for solar energy. Of these proposals three projects were selected.