Starting early 2021, Jamaica plans to develop over 500 megawatts of new generation. “It is envisioned that competition will bring the price of electricity down, while bringing the best technologies into the energy sector,” said Minister of Science, Energy & Technology Fayval Williams in a webinar discussion on ‘Renewable Energy Infrastructure Investment Opportunities’ on Thursday.
Jamaica intends to generate half of its energy from renewables by 2037, amid an overall target to add 1.6 gigawatts of new capacity to the electricity grid, Williams said.
Investors are already anticipating the GOJ’s invitation to bid for the projects. The last time Jamaica issued requests for proposals, RFPs, from renewable energy investors was in 2015 – for 37 MW.