The government has a goal of adding about 1600 MW of generating capacity over the next 20 years to decrease vulnerability of the energy sector to external shocks, like oil prices.
The IRP’s targets include 1260 MW of wind and solar, 330 MW of LNG, and 74 MW of hydroelectric power or biomass or waste energy by the year 2037. And the government plan includes undertaking projects not only with its own resources, but also with foreign investment.
Jamaica has already launched projects based on renewable sources.
These include the 20-MW Content Solar electricity generation plant, the 51 MW Paradise Park solar farm and the Wigton Windfarm, one of the largest facilities of its kind in the Caribbean with a 20.7 MW plant and an 18 MW extension facility.
Current renewable energy projects represent approximately 14% of energy generation in Jamaica.
And the country’s plan is to produce 320 MW of wind and solar, 120 MW of LNG and 74 MW of hydro, biomass, or waste energy this year.
And the government says foreign investors have already expressed serious interest in projects.
Jamaica’s plan also includes the development of a network of charging stations for electric vehicles.
“This is a very exciting time within the local and global energy sector as everything is moving towards renewable energy,” said Don Gittens, Manager of Logistics, Energy and Infrastructure at JAMPRO, Jamaica’s Investment Promotion Agency. “…We are confident there will be a lot of investment coming through.”
“That is the opportunity that exists right now for investors, so, these are very exciting times.”