Wigton Energy Limited has entered into an agreement to sell its property at Lot 28 Ferry Pen in St Andrew, marking another step in the company’s broader restructuring and repositioning efforts as it transitions from a wind-only producer to a diversified clean energy provider.

The notice of the agreement for sale, which was posted on the Jamaica Stock Exchange and dated October 22, 2025, comes just over a year after it was reported that Wigton had purchased the property above the listing price in early 2023, though the company had remained tight-lipped about its intended use. The land, located along the busy Washington Boulevard corridor, was reportedly eyed for expansion as Wigton looked to broaden its footprint beyond its Manchester operations.

Now the company appears to be streamlining its asset base as part of a sharper focus on new solar ventures and commercial energy services. Officially, no details have been given about the decision to sell.

In its latest annual report Wigton disclosed a profit of $302.9 million for the financial year ended March 31, 2025, supported by revenues of $1.85 billion, albeit lower than the prior year. Total assets stood at $9.67 billion, with shareholders’ equity of $5.32 billion.

In its unaudited results for the June 2025 quarter, Wigton reported revenues of $822 million, up 21 per cent year-on-year, while net profit rose 24 per cent to $231 million, buoyed by improved wind conditions and higher generation output.

The company, which rebranded from Wigton Windfarm Limited to Wigton Energy Limited last year, has been steadily executing a five-pillar strategy built around diversification, brand repositioning, and partnerships.

A major milestone came with the award of a 49.83-megawatt project to power the national grid with renewable energy through the Generation Procurement Entity’s 2023 tender and the approval to repower its 20.7MW Wigton Phase I wind facility with solar technology.

Together these initiatives will add more than 70MW of solar capacity to Jamaica’s grid once fully developed.

Chief Executive Officer Gary Barrow described the projects as “a pivotal shift in our growth strategy”, positioning Wigton as a multi-technology renewable energy leader in the Caribbean. The company has also moved to strengthen its presence in the commercial and industrial (C&I) energy space, completing solar installations for Carreras Limited and Jamaica Inn Limited, and developing new engineering, procurement, and construction contracts and leasing projects, including a 3MW solar and 4MWh battery system for Sangster International Airport.

Wigton has also deepened its investment in electric mobility through its now majority-owned associate Flash Holdings Limited, which controls Flash Motors Company Limited — the distributor of electric vehicles and charging stations in Jamaica.

Flash Motors sold 36 electric pickups last year and plans to open a dedicated showroom in the 2025/26 financial year.

The shift in business strategy and asset mix suggests that the sale of the Ferry Pen property is part of a broader effort to realign capital for these new initiatives.

The 2024/25 financial year was not without challenges. Operations at the Rose Hill wind farm in Manchester were affected by Hurricane Beryl in July 2024, but the company maintained profitability through “disciplined execution and prudent financial management”, according to Barrow.

Looking ahead, Wigton said its near-term focus will be securing financing for the two solar projects, advancing pre-construction activities and scaling its C&I portfolio across Jamaica and the region.