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Cabinet Gives Approval For Divestment Of Wigton Windfarm

Minister of Education, Youth and Information, Senator Ruel Reid

Minister of Education, Youth and Information, Senator Ruel Reid

Kingston, Jamaica (JIS) — Cabinet has given approval for the commencement of the divestment process for Wigton Windfarm Ltd at Rose Hill in Manchester.

This was revealed by Minister of Education, Youth and Information, Senator Ruel Reid, at a post-Cabinet press briefing at Jamaica House, today.

Senator Reid said approval was given for the commissioning of the valuation of the wind farm by reputable third-party valuators as well as for the engagement of a financial transactions structure advisor.

The advisor will have responsibility to make recommendations for the optimal strategies to be adopted to maximise returns for the Government.

A subsidiary of the Petroleum Corporation of Jamaica (PCJ), Wigton Windfarm Ltd is the largest wind energy facility in the English-speaking Caribbean. The company began operating in 2004 with the commissioning of a 20.7 megawatt-generating plant, Wigton I. This was followed by the development of Wigton II in 2010, which generates 18 megawatts of energy.

Wigton III, the 24-megawatt expansion of the facility, was officially commissioned into service in June by Prime Minister Andrew Holness.

Senator Reid further announced that Cabinet has given approval for Jamaica’s first biennial update report to the United Nations Framework Convention to be tabled in Parliament.

He said Cabinet gave approval for the proposal to introduce legislation for the incorporation of the Island Special Constabulary Force (ISCF) into the Jamaica Constabulary Force (JCF).

Approval was also given for the implementation of a public-private partnership for solar and energy efficiency in public schools. An enterprise team has been appointed to oversee the implementation.

Source: http://www.jamaicaobserver.com/news/Cabinet-gives-approval-for-divestment-of-Wigton-Windfarm

 



Category/ies:Jamaica News, News, Renewable Energy, Wind energy.
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