Wigton Wind Farm to be divested
The Cabinet has approved the start of the divestment process for Wigton Windfarm Limited in Rose Hill, Manchester.
This was revealed by Information Minister Senator Ruel Reid at a post-Cabinet press briefing at Jamaica House, today.
Senator Reid says approval was given for the commissioning of the valuation of the wind farm by reputable third-party valuators as well as for the engagement of a financial transactions structure advisor.
The advisor will have responsibility for making recommendations for the optimal strategies to be adopted to maximise returns for the Government.
Wigton Windfarm Limited is a subsidiary of the Petroleum Corporation of Jamaica (PCJ) and is the largest wind energy facility in the English-speaking Caribbean.
The company began operating in 2004.