Jamaica gets first grant under US Clean Energy finance facility

The United States Agency for International Development (USAID) has awarded the first grant through the Clean Energy Finance Facility for the Caribbean and Central America (CEFF-CCA), to help develop a 37 megawatt solar farm in Westmoreland.

CEFF-CCA will provide support to Rekamniar Capital Limited, the project developer, to partner with independent power producer Neoen on forming the Eight Rivers Energy Company, which will build the solar facility, according to a release from the US embassy in Kingston.

MPC Capital to invest in Jamaican solar project through new platform

German asset and investment manager MPC Capital AG said today it is creating a renewables investment platform targeting assets in the Caribbean.

The Hamburg-based company said it will co-invest in a joint vehicle that will take a stake of just under 50% in the 50-MWp Paradise Park solar photovoltaic (PV) project in Jamaica. It added that the total investment volume amounts to about USD 50 million (EUR 47.9m).

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.”