Content Solar Ltd., a wholly-owned subsidiary of WRB Enterprises, recently signed a financial agreement with the Overseas Private Investment Corporation (OPIC), the U.S. Government’s Development Finance Institution. The agreement solidifies the $47 Million OPIC loan to support WRB’s development of a 20 megawatt grid-connected solar photovoltaic facility in Clarendon, Jamaica. The total project cost will be in excess of $60 million.
“Content Solar will be the largest project of its kind in the Caribbean, delivering clean and reliable renewable energy at a stable price to Jamaica for decades to come,” said Bob Blanchard, Chairman & CEO of WRB. “Content Solar will power more than 20,000 Jamaican homes, displacing more than 3 million gallons of fossil fuel currently burned each year.”
In addition, the Content Solar project becomes the second OPIC-financed project in support of the Caribbean Energy Security Initiative, which is a U.S. Government effort announced by Vice President Joseph Biden in June, 2014. Through all of this, the project will work to provide reliable, renewable energy to the nation of Jamaica while decreasing its huge dependence on imported oil from which over 90% of its electricity is currently produced.