Energy Investors must take Jamaicans for fools and fools we are !

The entire world (ok I am exaggerating but unno know what me mean) knows that Jamaica have a serious energy problem, particularly in the area of electricity cost. With that said, we have heard the announcements

of many projects to reduce Jamaica’s electricity cost, but to date very few have materialized and at this stage we can consider them to be dead.

Let’s examine a few of the most recent such projects.

Naanovo – This is a UK based firm which says it was going to build a 14MW waster to energy plant at Riverton city.

 

Renewable energy firm Naanovo, in partnership with a Jamaican company, plans to setup a power plant at Riverton City that will convert garbage into electricity, state investment agency Jampro told Sunday Business.

The project is expected to cost at least J$12 billion.

The waste-to-energy project, will be headed by Anthony Fiddy, Managing Director of Naanovo UK, and Jamaican businessman Mark Dennis and his family, the agency said

“We have formed the company and I have had meetings with all the relevant parties and they have all agreed to support the project. It’s now a question of putting the project together,” Fiddy reportedly said Wednesday at one of the trade and investment forums hosted by Jampro at Jamaica House in North Greenwich Arena, London.

http://jamaica-gleaner.com/gleaner/20120812/business/business6.html

Can we get an update from Jampro on the status of this project given that this announcement was made over a year ago?

Then this other one

Solamon Energy Corp, this Canadian based company back in 2012 also announced it was going to build an electricity generation facility in Jamaica, this was what was reported.

The Toronto, Canada-based Solamon Energy Corp says it plans to build the largest solar power plant in the Caribbean.

The solar company said the programme, to be built in Jamaica, will cost in the region of CDN$450 million (US$444.2 million).

http://jamaica-gleaner.com/gleaner/20120126/business/business5.html

Now this project at current rates works out to be in the region of J$44B and that is not something you can ignore.

On May 24, 2012 we saw this report of another multi-million energy investment

ESA Renewables recently signed a letter of intent to design and construct a 24 MW solar project in Paradise Park, Jamaica.

Working in conjunction with the Caribbean Energies Group (CEG) and a US Solar OEM, ESA will design, construct, commission, monitor and provide operations and maintenance for the 24 MW DC project. The Caribbean Energies Group LLC will be obtaining the financing, the array site and all necessary materials to complete the project.

http://www.greenchipstocks.com/articles/jamaica-solar/1833

A solar plant can be constructed at a cost of approx US$2.27/W , so this estimated cost of this plant would be in the region of US$55m or J$5.5B

Once again I take issue with main stream media, who carries the big announcement, but fails to followup and in so doing does not keep these folks “honest”.

Combined these three projects would see J$61.5b of investment in Jamaica, just in the energy sector alone. Now if you add this US$650M(j$65b) , 360MW power generating facility, we could have seen total investment in Jamaica’s energy sector of a whopping J$116.5B.

Now can someone tell me why the deafening silence on the three projects mentioned above ?

The OUR just announced it was unable to get the 115MW of Renewable energy it was looking for, so can we therefore assume the projects above are dead and if so, can we get an official announcement from the government ?

Commonsenseja is taking you where no other blog has taken you before and soon I am sure I will get into trouble with some folks who would rather this type of information remains hidden, I have begun to hear rumblings already.

I made a commitment when I started this blog to not only share my knowledge but also to express my views as I see things in Jamaica , while at the same time exposing what many would like to remain hidden..