JPS Signs MOU With Chinese Based Company For 190 MW Plant
The Jamaica Public Service has entered into a Memorandum of Understanding (MOU) with a China-based energy company to build the 190 MW Old Harbour Bay Power Station.
The Chinese company will replace the Spanish firm Abengoa, which filed for protection from creditors a few days after it was named as the preferred bidder for the construction of the power plant.
President and Chief Executive Office of JPS, Kelly Tomblin has said that the name of the company cannot be released due to confidentiality agreements, but that the company was well known in China and within the energy sector.
"JPS, given its continuing concerns for the financial viability and strength of Abengoa and their inability to meet our financial requirements, has moved to enter into an MOU agreement with a Chinese EPC provider," she told The Gleaner.
Meeting with ESET
She pointed out that the name of the firm and the terms of the deal will be made public once discussions are complete.
Tomblin also indicated that JPS will be meeting with the Energy Sector Enterprise Team (ESET) next week Monday to discuss the new bidder and the finer details of a possible deal between both parties.
"We plan to meet with ESET on Monday afternoon to go through final details, and we will disclose more after that meeting."
The JPS moved to assure stakeholders that the 190 MW project remains on track for the plant's commissioning in 2018.
JPS says it was undaunted by the financial woes being faced by Abengoa and would be looking at alternatives.
"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 also had the understanding that Abengoa's financiers were committed to the company for the long term," the company said in a press release.