JPS secures equipment, financing for new LNG power plant

JPS secures equipment, financing for new LNG power plant

Jamaica’s energy company, JPS, said it has finalized an agreement with General Electric for the manufacturing of equipment for its LNG-fired 190 MW power plant at Old Harbour Bay, St. Catherine.

JPS, through its subsidiary, South Jamaica Power Company (SJPC), confirmed GE’s role as the original equipment manufacturer for the project, securing the delivery schedule for all major equipment for the new plant, according to the company’s statement on Thursday.

JPS president & CEO, Kelly Tomblin said that in addition to the agreement with GE, SJPC has also selected the engineering, procurement and construction (EPC) contractor, and secured all the financing for the new power plant project.

Financing of approximately US$210 million has been secured through a syndicate of banks, led by the National Commercial Bank (NCB).

Tomblin further added that with the financing, OEM and EPC contractor now in place, JPS expects to secure all relevant permits and complete all the loan financing documentations within the next 60 to 90 days and start the construction of the LNG-fired power plant.

JPS signed an agreement with New Fortress Energy, that has been contracted to supply LNG for Jamaica’s 120-megawatt power plant in Bogue, Montego Bay, to supply liquefied natural gas to the Old Harbour Bay facility.

According to the deal, New Fortress Energy has agreed to privately finance and develop the infrastructure necessary to deliver Liquefied Natural Gas (LNG) to the new Old Harbour plant, JPS said in an earlier statement.

 

LNG World News Staff

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