Wigton Windfarm Limited will have its stock market launch on April 17th. Eleven billion shares at 0.50 cents each will be offered under the IPO, which will run until May 1st on the Jamaica Stock Exchange.
Wigton is a subsidiary of the state-owned energy authority Petroleum Corporation of Jamaica.
Wigton Windfarm is the largest wind energy facility in the English-speaking Caribbean. The company’s first project was the the 20.7MW plant Wigton 1, which entered into commission in 2004. The company has been successful in helping diversify Jamaica’s energy mix.
The IPO is part of the Jamaican Government’s plan to enable ordinary Jamaicans to own shares of public entities that are being privatised.
Wigton has also been aiming to grow in the renewable energy market, constructing solar energy plants and more wind turbines on renewable energy tenders.
“Wigton has had a history of high performance in our energy sector for over a decade”, said Minister of Science, Energy and Technology, Hon. Fayval Williams.