KINGSTON, Jamaica – Jamaica Public Service (JPS) on Thursday disclosed that it has been informed that the Spanish firm, Abengoa, has filed for protection from creditors – a possible first step toward filing for bankruptcy.

Abengoa was recently announced as the preferred bidder to construct the JPS 190 MW Power Plant in Old Harbour, St Catherine.

While JPS noted the development with regret, the light and power company says it is fully prepared to activate its alternative plans to ensure the execution of the project, which will replace the present Old Harbour Bay Power Station, while adding more Liquefied Natural Gas to the country’s energy mix.

President and CEO Kelly Tomblin, speaking on the matter, said: “We will be having dialogue with Abengoa – but JPS remains undaunted by the news. As a responsible corporate entity, our company has been in full preparation mode for any type of challenge regarding the completion of this project. We will not be derailed from our mission to bring real change to the energy sector and by extension, to Jamaica.”

JPS said in a news release Thursday that Abengoa was selected based on its wide ranging and impressive technical expertise.

“The firm has constructed several combined cycle power plants around the world and is also well known for its construction of renewable energy power plants, JPS said.

The compoany said it also had the understanding that Abengoa’s financiers were committed to the company for the long term.

JPS moved to assure customers and all stakeholders that the 190-MW project remains on track for the plant’s commissioning in 2018.