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JIS News

The government will spend $24 million this financial year for the development of an Energy Services Company (ESCO) Industry in Jamaica.

Details of this allocation are contained in the 2013/14 Estimates of Expenditure, now before the House of Representatives.

The allocation will go towards increasing public awareness of opportunities that exist in the ESCO industry and benefits to be gained by each stakeholder; improving industrial and regulatory support for the ESCO industry – procure consultancy to conduct ESCO technical and non-technical workshops; development of an energy efficiency web-portal; and reviewing the policy framework for ESCOs – procure consultancy to develop draft public sector policy for energy performance contracting and establishment of energy targets.

The project, which is being implemented by the Ministry of Labour and Social Security, with funding support from the European Union, commenced in April 2011 and is slated to run until January 2014.

It seeks 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); 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 stakeholder groups.

Achievements since implementation include the contracting of a project manager; the rental of office space; commencement of sensitisation sessions; and preparation of a project work plan.

By Athaliah Reynolds-Baker, JIS Reporter