The Jamaican Office of Utilities Regulation (OUR) has announced a winner of its most recent renewable energy procurement project. The selected bidder, Eight Rivers Energy Company (EREC) has entered the auction with a 33.1 MW PV project and proposed the lowest electricity price of 8.54 US cents per kWh.
The OUR is pleased with the proposed all-in tariff of 8.54 US cents/kWh, which we believe has set the pricing bar for future renewable projects, said OUR director Albert Gordon.
Commenting on the results of the selection, the Minister of Science Energy and Technology in Jamaica Andrew Wheatley noted that the winning bid represents the lowest cost ever for solar power in Jamaica.
In July last year, OUR announced its request for proposals to supply up to 37 MW of renewable energy in the national grid. 19 bids, totaling nearly 500 MW, including 11 solar PV projects have been submitted.
ERECs PV project is 50% owned by Neoen, an international independent power producer, through its wholly owned subsidiary, Neoen International, and 50% owned by business developer Rekamniar. Earlier, EREC announced its plans to invest around $48.7 million in the plant.
The construction of the PV plant at Paradise Park, Westmoreland is set to begin by July. According to the local media, EREC expects to starts operating the facility within a year.
Once completed, the 33.1 MW solar park will become the largest solar plant in Jamaica. To date, Jamaican largest PV project is a 20 MW solar plant in Clarendon, commenced in July last year by Florida-based WRB Energy.