CARICOM Summit|Holness urges private sector to power regional shift to renewables
Published:Tuesday | July 8, 2025 | 4:01 PM
Prime Minister Dr Andrew Holness has called on Caribbean businesses to take the lead in transforming the region’s energy landscape, saying the time has come for bold investment in renewables to drive down costs and strengthen economic resilience.
His comments come amid confirmation that the Government of Jamaica will not renew the all-island licence of the Jamaica Public Service (JPS) when it expires in 2027, a move that signals a major shift in the country’s energy future.
Speaking at the CARICOM Private Sector Organisation (CPSO) breakfast at Sandals Montego Bay on Tuesday, Monday, Holness said the Caribbean is blessed with abundant renewable resources, from solar and wind to hydro and geothermal, and must leverage them to reduce the high cost of living.
“Every island is bathed with incredible solar energy,” he said. “Some of us have wind, some hydro, some geothermal. The question is, how can we cooperate to use it beneficially for all?”
He pointed to hydrogen as a potential game-changer, referencing discussions with European partners interested in sourcing clean hydrogen from the Caribbean, should the region be able to convert its renewable energy at scale.
“If we can convert our solar and wind into hydrogen, there is a huge market we could supply endlessly,” Holness said. “I am throwing that out to the business community. We need you to apply greater innovation in the energy sector.”
Jamaica’s own decision to end the JPS monopoly has reenergized the conversation on energy independence and competition. With the current agreement ending in 2027, the government now has an opportunity to open the energy sector to new players, including regional and international investors in renewable infrastructure.
Holness did not directly address the JPS decision in his speech, but his remarks on innovation, regional collaboration, and de-risking frameworks for green energy investment struck a clear tone of urgency.
“Most of us are struggling with the overarching cost of living. Energy is a big part of that,” he said. “Government must provide the regulatory and de-risking support, but the private sector must seize the economic opportunity.”
Energy costs remain among the highest operational burdens for Caribbean businesses and households, affecting everything from food prices to digital services.
He also framed energy security as part of a broader national security strategy, protecting not just electricity access, but economic and cyber infrastructure. “Security is not just violence. It is the security of our telecommunications, our shipping and logistics, our financial systems. Energy underpins all of it.”
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