OUR to address concerns of prospective renewable energy projects financiers
The Office of Utilities Regulations (OUR) says it will be meeting with the parties connected to Jamaica’s renewable energy projects in the coming days as it moves to resolve concerns raised by prospective financiers.
The OUR says it had drafted power purchase agreements and sent them to respective bidders and the Jamaica Public Service Company Limited in a bid to have them executed before the June 2014 deadline.
It says the three bidders, Wigton Windfarm Limited, Blue Mountain Renewables LLC and WRB Enterprises Incorporated, have raised a number of issues, some of which have been settled.
However, it says concerns attributed to prospective financiers are still unresolved.
The OUR has not said what those concerns are.
However, it says it will be meeting with the parties over the coming days with a view to having these matters addressed.
The OUR says where the parties are unable to agree, it will issue a determination to decide the issues.
The regulator says it remains optimistic that the power purchase agreements can still be signed well ahead of the original timeline.
Securing additional renewables capacity is an imperative under the National Energy Policy.
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