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Energy World provides OUR evidence 360MW bid bond in hand

Published:Thursday | October 17, 2013 | 12:00 AM

The Gleaner understands that Energy World International (EWI) has provided the Office of Utilities Regulation (OUR) with evidence it has secured US$7.4-million to cover the required bid bond for the 360-megawatt project.

However, sources say the funds are with a financial institution located in Hong Kong, with which Jamaican financial entities have never done business.

The OUR reportedly wants to have the funds in hand before making any announcement on whether EWI has secured the US$6.9-million bond.

EWI was named the preferred bidder for the project after Azurest-Cambridge failed to meet its given deadline to present its bid bond on October 3.

The deadline for EWI to hand over its bid bond is tomorrow.