OUR considering Energy World International license
The Office of Utilities Regulation (OUR) says it’s now considering the recommendation of a license to Energy World International (EWI).
EWI won the bid to construct the 360 megawatt power plant.
The OUR says although a Power Purchase Agreement has been signed between the Jamaica Public Service Company Limited and EWI, it does not become effective until the regulator makes a recommendation and the licence is issued by the Minister of Science Technology Energy and Mining.
It points out that a critical component in considering the grant of the license is information received from the conduct of due diligence.
A due diligence is required on all applicants and their principals for licences before the OUR makes a recommendation to the relevant sector minister.
Among other things, the OUR says the objectives of due diligence are to ascertain if there are any matters that would preclude the OUR from recommending the issuance of a license to the entity.
The OUR says the information received is being reviewed by members of its technical team.
However, it says it is constrained by statutory and confidentiality obligations which prohibit the disclosure of such material.
The OUR says a copy of the information regarding due diligence has been shared with the Office of the Contractor General with whom the OUR is permitted to disclose such content.
The regulator says it has requested permission to release the information to other relevant parties who have been monitoring the project, including the Energy Monitoring Committee.
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