Sun | Aug 20, 2017

Wigton Wind Farm to be divested

Published:Wednesday | October 12, 2016 | 10:13 PM
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 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.