Jamaica Utility Procurement Project - Cables Supply

Project Information:

Project Name: The Supply of Cables RFP # 721815

Owner: JAMAICA PUBLIC SERVICE CO. LTD.(JPS)

Awarded Date: 2023.09

What We Supplied:

CONDUCTOR, COPPER, PVC, PE OR XLPE INSULATED, 19 STRANDS, OVERHEAD, 120 mm sq (#4/0 AWG) SINGLE CONDUCTOR

Project News:

Jamaica's electricity market is primarily dominated by Jamaica Public Service Company Limited (JPS), which is the sole entity responsible for the generation, transmission, distribution, and sale of electricity in the country. JPS has a diverse shareholder structure, with Mitsui & Co. Caribbean Power Holdings and Korea East-West Power Company each holding 40% of the shares, while the Jamaican government holds 19%, and minority shareholders own less than 1%.

Jamaica has been making significant progress in diversifying its energy sector and promoting renewable energy. The government has set ambitious targets to increase renewable energy generation capacity to approximately 1600 megawatts (MW) over the next 20 years, with the aim of reducing energy prices and enhancing resilience to external shocks such as oil price fluctuations. The Integrated Resource Plan (IRP) outlines goals that include achieving 1260 MW of wind and solar energy, 330 MW of liquefied natural gas (LNG), and 74 MW of hydro, biomass, or waste-to-energy by 2037.

Currently, Jamaica's renewable energy mix includes solar, wind, biomass, and hydro sources. The government has implemented various incentives and policies to encourage investment in renewable energy projects, including tax exemptions for energy-efficient equipment and renewable energy technologies. In addition, Jamaica is collaborating with international organizations such as the Inter-American Development Bank to implement energy efficiency projects aimed at reducing electricity prices.

However, Jamaica's energy sector faces some challenges, including high energy import dependence and a relatively low ranking in global energy system performance. According to the World Economic Forum's Global Energy Architecture Performance Index, Jamaica ranks 112th out of 124 countries. This is primarily due to its over-reliance on imported energy and lack of domestic energy supply.

Overall, Jamaica's electricity market presents opportunities for investors interested in renewable energy and energy efficiency projects. With the government's commitment to promoting renewable energy and reducing energy prices, the market has the potential for significant growth in the coming years.