New Fortress Bullish on Jamaica
June 25, 2017
Buoyed by the success of its deal with the Jamaica Public Service Company (JPS) and agreements with Red Stripe and Jamalco, the international firm New Fortress Energy is bullish on its prospects locally.
The company has already started delivering liquid natural gas (LNG) to the island and is set to increase its investment as other entities move to power their operations with this solution.
While not putting a dollar value on the level of investment it has targeted for the island, Wes Edens, founder and chairman of New Fortress Energy, says this is an exciting time to be investing in Jamaica as the country is poised for lower energy costs, with scores of new jobs coming on stream.
"This is really just the beginning. With the success of our Bogue conversion project and two additional projects in development Old Harbour and Jamalco, Jamaica will benefit from over 400 megawatts of clean and modern natural gas power generation," said Edens in an emailed response to questions from The Sunday Gleaner.
"That's a significant step for the country's energy diversification efforts and will accelerate the integration of renewables. And now, starting with Red Stripe and Jamalco, we're seeing industrial users convert to natural gas...