Wed | Jul 29, 2015

OUR to make Energy World International recommendation by week-end

Published:Tuesday | March 18, 2014

Arthur Hall, Senior News Editor



KINGSTON, Jamaica:

The Office of Utilities Regulation is declaring that it is now in a position to recommend that Energy Minister Phillip Paulwell grants a license to Energy World International (EWI) to operate a 381-megawatts plant locally.




Director General Albert Gordon made the disclosure on Nationwide 90FM this morning ending weeks of speculation about the future of the process.



He said the OUR is doing some final discussions but should make the recommendation to Paulwell by the end of this week.



The OUR had delayed recommending that the license be granted while it awaited information from EWI that it had the financial muscle to fund the project.



However, Gordon said while the OUR is yet to receive the information from EWI the regulatory agency is now satisfied based on communication it has received from Energy World Corporation, the parent company.



He said once the license is granted EWI will have 10 days to pay US$37-million as a performance bond or risk losing the US$7 million which it posted as a bid bond.



EWI will also have 30 days after the granting of the license to provide the OUR with a fuel source plan and a further 10 days to indicate the price.



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