KELLY TOMBLIN, president and chief executive officer of Jamaica Public Service (JPS), has revealed that the light and power company has entered a partnership with Energy World International Limited (EWI) to construct the 360-megawatt power plant.
Tomblin said JPS and EWI are in the initial stages of working out the terms of the partnership.
She stressed that the JPS was committed to the project.
"The partnership details are now just being worked on, but what it will entail is that JPS will be a joint owner ... . We would have a percentage ownership of the company," she told The Gleaner yesterday.
Co-chair of the public-private sector Energy Monitoring Committee (EMC) set up to oversee the construction of the plant, Peter Melhado, said the committee would reserve its comments on business arrangements that would not interfere with the smooth building of the energy plant.
"If for some reason that agreement causes a change in the price that EWI is going to supply the electricity to JPS, then obviously that would fall within our mandate," Melhado said.
Will not affect previous plans
In early December, EWI agreed to sell power generated from the soon-to-be-built 360-megawatt plant to JPS at the base price of US$0.12.88 cents per kWh.
Tomblin said the new venture will not affect previous arrangements between the two companies, but would help speed up the process for EWI to secure funding to get the project up and running.
"We are all just working together to bring new energy generation to Jamaica as quickly as possible," Tomblin added.
Construction of the plant is expected to begin in early 2014 and completed within 24 months.