The Jamaican government and HERO BX, one of the largest producers of biodiesel in the US, are considering a partnership to develop the first commercial-scale biodiesel plant in Jamaica and the Caribbean.
According to Minister of Industry, Investment and Commerce Anthony Hylton, the project aims to “improve the business environment, facilitate economic growth and create opportunities for job creation”. Representatives from the firm attended Jamaica’s Investment Forum, JAMPRO, earlier this year and have been meeting with various government and private-sector stakeholders with serious interest in confirming the project.
By making use of inputs such as waste oils from the hospitality industry and plant feedstock from the agricultural industry, the plant would have a multi-industry impact and boost Jamaica’s renewable-energy program. The investment is promising because of the country’s strategic location in the Caribbean Basin:
“…access to a quality, educated labour force; the access to all of the benefits that are available due to commitments made by the Jamaican Government to encourage foreign direct investment are all factors”, said Glen Garth, executive vice-president of US consulting firm Garth Solutions Inc, which is representing HERO BX.
According to the company profile of HERO BX, interest in expanding into the Caribbean is based on an expected growth in the global renewable energy market, estimated to be US$614.92 billion by the end of 2015. JAMPRO President Diane Edwards said she was pleased that the country’s strides to promote its renewable-energy strategy have been bearing fruit:
“We are seeing more interest in sectors such as energy and technology as the Government makes moves to improve the business atmosphere and the country’s readiness for investments. JAMPRO will monitor the progress of this and other projects closely as we try to bring more significant, sustainable investments to Jamaica”.
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