JPS gets green light to build Old Harbour power plant
The Cabinet has given the Jamaica Public Service Company (JPS) the permission to start building a multimillion-dollar power plant in Old Habour, St Catherine.
Acting chairman of the Electricity Sector Enterprise Team (ESET), Professor Alvin Wint, announced the decision at the body's final press conference this morning.
The notice to proceed means that JPS, Jamaica's sole power distributor, can start the construction in April as planned.
The 190 megawatt power generation plant, which is to cost more than US$200 million, is expected to be completed in 2019.
Professor Wint said the notice is be issued today adding that as loans and bond financing agreements for the project have been signed with a group of local financial institutions led by the National Commercial Bank.
A shareholder participation agreement has been signed by all JPS shareholders.
Those are Marubeni, East West Power and the Government of Jamaica.
Professor Wint said the National Environment and Planning Agency has granted the requisite permits.