Renewable bidders submit US$1.87m bid security
The three preferred bidders selected to supply 78 megawatts of renewable energy to the national grid have met the October 15 deadline to submit their bid security, the Office of Utilities Regulation (OUR) said.
Blue Mountain Renewables LLC, which is to supply 34 megawatts of capacity from wind power at Munro, St. Elizabeth, reportedly submitted a bid security of US$777,100.
Wigton Windfarm Limited, which is to supply 24 megawatts from wind power at Rose Hill, Manchester, paid US$450,000, while the bid security for WRB Enterprises Inc., to supply 20 megawatts from solar in Content Village, Clarendon, was US$650,080.
Negotiation for project agreements is to be completed by June 18, 2014, the OUR said in a statement today.
Construction is to begin by August 2014 with a proposed commissioning date of July 2016.
The OUR said it will return to the market in early 2014 to find a qualified bidder offering firm capacity for the remainder of 115 megawatt project.
However, it said the decision to return to the market is subject to Government resolving policy and administrative issues regarding waste to energy.
FOR MORE STORIES WATCH: