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Story Highlights

  • The development of an Energy Services Company (ESCO) Industry in Jamaica will be advanced with a further budgetary allocation of $23 million this year.
  • The funds have been made available in the 2015/16 Estimates of Expenditure, now before the Standing Finance Committee of Parliament.
  • The project aims to develop a sustainable ESCO Industry in Jamaica by raising the level of awareness and understanding of the business of Energy Efficiency (EE) and Renewable Energy (RE).

The development of an Energy Services Company (ESCO) Industry in Jamaica will be advanced with a further budgetary allocation of $23 million this year.

The funds have been made available in the 2015/16 Estimates of Expenditure, now before the Standing Finance Committee of Parliament.

The project aims to develop a sustainable ESCO Industry in Jamaica by raising the level of awareness and understanding of the business of Energy Efficiency (EE) and Renewable Energy (RE).

It also seeks to introduce new business models to enable increased levels of investment in and implementation of EE and RE projects; and increase dialogue, trust and confidence in the industry among its stakeholder groups.

For the 2015/16 period under the project, it is expected that an awareness building/marketing programme will be conducted to target 200 persons; stakeholders presentations are to be conducted; tertiary and professional courses are to be developed; sensitization sessions are to be conducted; and implementation of institutional regulatory framework in the energy sector is to be completed.

Up to December, 2014, official ESCO workshops were launched; seven workshops were successfully conducted; visibility plan at all public functions was implemented; and stakeholders’ presentations were held with 90 participants.

A review was also conducted of institutional framework and support mechanisms and accepted recommendations; and exposure of approximately 50,000 persons was facilitated via media coverage and the Jamaica Petroleum Corporation (JPC) website.

The project, which is being implemented by the Ministry of Labour and Social Security through funding from both the Government of Jamaica and the European Union, is scheduled to run from April, 2012 to March, 2018.