JPS thermo project to cost US$600mn

Tuesday, December 13, 2011

The cost of Jamaican power utility JPS's 360MW thermo plant will reach some 52bn Jamaican dollars (US$600mn), the company said in a statement.

Last week, the country's Office of Utilities Regulation awarded JPS the right to build the plant under a call to supply up to 480MW new generating capacity.

JPS majority shareholders Marubeni and Korea East West Power will establish a corporation to implement the project, with the utility as minority partner, added the utility. "The plan is for the construction of a new power plant in Old Harbour Bay, St Catherine, which will burn natural gas, with diesel as backup fuel."

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The new capacity is scheduled to come online in 2014 and will displace close to 300MW of aged plants with the remainder to cover load growth.