Investors Express Interest in Renewable Energy Sector

Minister of Science, Energy and Technology, Dr. the Hon. Andrew Wheatley, says several international investors have indicated interest in buying into Jamaica’s renewable energy sector.

He said this was evident based on discussions at the United States Caribbean Central American Energy Summit meeting in Washington, D.C., which he attended, along with Prime Minister, the Most Hon. Andrew Holness, last week.

“We are encouraged by that, as we are seeing more investments coming into Jamaica as it relates to using renewable energy. That is the take-away from the Summit – the level of interest that we saw, that a lot of investors are looking to come and invest in our energy sector here in Jamaica,” he told JIS News, following a groundbreaking ceremony for the Caribbean’s first Net Zero Energy Building at the University of West Indies (UWI), Mona on May 10.

The Minister said the Summit was a successful one, and noted that Jamaica was hailed by United States Vice President, Joe Biden, and Secretary of State, John Kerry, for the initiatives taken in the country to advance the use of renewables to generate energy.

He noted that the country has in the past benefitted from significant investments from international partners, for which the Government is grateful.

The Summit, which pulled together Caribbean and Central American Heads of Government and Energy Ministers, multilateral development banks, the private sector, and other international partners, caps off the work of the U.S.-Caribbean-Central American Energy Security Task Force.

The group was launched by US President, Barack Obama, with regional leaders in April 2015 to advance energy security, enhance regional energy cooperation, support clean energy integration, and promote donor coordination.

The Prime Minister, at the Summit, engaged in discussions on the results of the Task Force and identified steps the United States and regional leaders can take to ensure that citizens of these regions achieve more secure, affordable and clean energy solutions.

As part of the Summit, the Americas Business Dialogue chaired a series of meetings between Heads of Government and the private sector to explore new opportunities for trade, investment, and innovation in the energy sector.

According to a release on the White House website, the leaders agreed on the importance of a diverse fuel supply and greater access to cleaner, cost-effective and reliable energy to spur energy security and economic competitiveness in the regions.