Eight Rivers

Jamaica's solar PPA breaks records at 8.5 cents/kWh: who’s the big winner?

The recent PPA awarded at 8.54 US cents/kWh for a 33.1 MW PV project now ranks solar energy as the cheapest source of electricity in Jamaica. Eight Rivers Energy Company Limited (EREC) won the bid, beating out 18 competing projects. “Yes, it is lean – there’s not a lot of fat – but I think ultimately it’s good”, said Angella Rainford, Managing Director of Rekamniar, one of the two partners that comprise EREC. “We’re happy from an investor perspective, but it’s really good for the Jamaican people.”