THE JAMAICA Public Service Company has been recognised by the Jamaica Institution of Engineers for its conception and design of the new plant at Bogue in Montego Bay.As part of its generation expansion plans, the light and power monopoly has developed a new 120 megawatt 'Combined Cycle Power Plant' at Bogue as an extension of the existing power station there.
The JIE, at its 25th annual awards dinner held last Saturday at the Jamaica Pegasus, cited the company for the engineering and project management expertise demonstrated. The project was said to have come in on time and within budget, despite intervening weather conditions. Phase one of the project had a $100 million price tag.
The added capacity is both expected to meet projected growth in demand for electricity, cut back on the power outages within the northern and western ends of the island, but also provide sufficient power for the JPSCo to hold a reserve margin.
The power company says the plant should allow for "a more reliable and stable operation," provide energy more efficiently than the existing generating units, and "will realise fuel cost savings," the company said.
The new plant which JPSCo describes as the first of its kind in Jamaica, comprises three generating units of 40 MW each, two of which were commissioned in September 2002. The plant is equipped with state of the art technology, and its operations are computer based.
JPSCo is 80 per cent owned by Mirant Energy Inc., of the United States, which bought the consistent loss-making utility company from Jamaica for US$201 in February 2001. The Jamaican government retains a minority 20 per cent interest in the company.
In the last financial year, the company posted profits of $1.1 billion, coming straight from a loss position. It attributed the remarkable turnaround to revenue inflows from an increase in electricity rates, and a restructuring of its loans. Mirant acquired US$120 million of the utility's short term debt when it bought JPSCo.
