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Millions of dollars in financing coming to Jamaica for sustainable projects

Three renewable energy projects include a solar panel production facility, a waste-based energy production facility, and self-contained sustainable shrimp farming modules, has been announced for Jamaica by the Hampden Kent Group.

These three projects, representing US $600 million in new structured debt, are the first such initiatives taken by the Washington-based Hampden Kent Group in the Caribbean.  Hampden Kent is an infrastructure project development, financing and management company.

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 remaining projects are a waste-based energy production facility and self-contained sustainable shrimp farming modules and will rollout 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 CEO 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. 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.”

These 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, projected the group.

This was supported by Jamaica’s Ambassador to the United States, Audrey Marks, who praised the plan calling it a “a significant opportunity to create meaningful capital infusion into the Jamaican economy, to support renewable energy and create new jobs at various skill levels”. Hampden Kent has structured and arranged cross border debt financing for renewable energy and environmental sustainability programs in Europe and the Americas. Its model is to develop commercially viable projects for which it secures financing, and takes management and equity positions in the projects, on a build-own-operate basis.

Category/ies:Jamaica News.
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