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Hampden Group launches new debt-refinancing programme for Jamaica & RE projects

The Washington and London-based Hampden Kent Group, an infrastructure project development, financing, and management company, yesterday announced three new debt-refinancing projects for Jamaica, a key breakthrough for the nation and a harbinger of future debt financing deals in the global markets.

The three projects represent $600 million in new structured debt.

In a statement released yesterday through US Newswire, Hampden Kent said the first Jamaican project is the formation and development of a solar panel production facility near Kingston that will begin before the end of 2011.

The other projects are a waste-based energy production facility and self-contained sustainable shrimp farming modules that will roll out beginning in 2012.

“Jamaica has been a leader among Caribbean nations making renewable energy and environmental investment projects outside the European Union,” Daryl Hudson, chairman and chief executive officer of the Hampden Kent Group said.

“The fresh investments flowing into the Caribbean have the potential to produce significant near-term and long-term results, while simultaneously laying the groundwork for future sustainable energy initiatives,” he said. “Jamaica is an ideal location for us to expand our presence in the region, where we will provide lasting value to our investors and project partners for years to come.”

Capital infusion

The three projects represent significant capital infusion into the Jamaican economy, enhancing the emerging renewable energy market and creating hundreds of new jobs at various skill levels throughout the country, the company said.

The statement said Hampden Kent Group has structured and arranged cross-border debt financing for renewable energy and environmental sustainability programmes in Europe and the Americas. This is the first of several initiatives for the company as it expands its presence in the Caribbean, the company said.

Hampden Kent specialises in emerging market project finance and development. It develops commercially viable projects for which it secures financing, and takes management and equity positions in the projects, on a build-own-operate basis. The company’s objective is to take both a financial and management position in projects in selected countries in conjunction with investors and local partners.

 

Source: Jamaica Gleaner



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