Jerome Reynolds, Staff Reporter
President and CEO of Jamaica Public Service Company Kelly Tomblin says the company is seeking an urgent meeting with the Office of Utilities Regulations (OUR) and Energy World International (EWI) to discuss the future of the 381 megaWatt project.
EWI is yet to post the US$37 million performance bond which was due last week Thursday.
Doubts have been raised about the company’s ability to secure financing after the Inter-American Development Bank said it declined a request for funding from EWI because of concerns about the procurement process.
Tomblin says any further delay in completing the project will hurt the JPS as the company will have to continue to invest millions of US dollars in old, inefficient power plants.
She adds that Jamaicans are also being affected as they have to wait longer for cheaper electricity.
The JPS head says the light and power company needs clarification of several issues including reports that EWI wants to move the location of the power plant.
Last December, the JPS and EWI signed a 20-year Power Purchase Agreement which outlines terms and conditions for the sale of power to the national grid.
Under the Agreement, EWI is to design, finance, construct, operate and maintain the power generation facility which will have a net capacity of 381 megaWatts.
Construction of the plant was expected to begin in 2014, with the project to be completed within 26 months.
The JPS president and CEO says the company is not in a position to say how the recent developments facing EWI will impact the power purchase agreement.
Tomblin points out that it is the OUR which has responsibility for conducting due diligence and she says that information is yet to come to the JPS.
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