JIS News

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  • Science, Technology, Energy, and Mining Minister, Hon. Phillip Paulwell, said the Ministry is prepared to grant additional licenses to accommodate new petroleum marketing companies and retailers, thereby, increasing the number of operators in Jamaica.
  • The Minister was speaking at Thursday’s (September 24) commissioning of Wisynco Group Limited’s $200 million solar energy plant, at the entity’s head office in Lakes Pen, St. Catherine.
  • The Wisynco renewable energy plant is currently the largest and first solar to high voltage application to be developed in Jamaica.

Science, Technology, Energy, and Mining Minister, Hon. Phillip Paulwell, said the Ministry is prepared to grant additional licenses to accommodate new petroleum marketing companies and retailers, thereby, increasing the number of operators in Jamaica.

This move, he said, is aimed at boosting competition among industry stakeholders, which would yield significant benefits for consumers, in terms of product quality and prices. He is therefore inviting participation from more private sector interests.

The Minister was speaking at Thursday’s (September 24) commissioning of Wisynco Group Limited’s $200 million solar energy plant, at the entity’s head office in Lakes Pen, St. Catherine.

Mr. Paulwell noted the administration’s commitment to facilitating competition in the petroleum trade, which he said, is evident in the number of marketing companies currently operating in Jamaica, totalling over 18.

“We want to expand it…we want to enable more players to participate,” he said. “That’s the reason why we have been granting licenses for new marketing companies and retailers. What we are (aiming) to do is ensure that the environment is right, so that the competition will drive the quality of service and the prices that consumers have to pay,” the Minister said, adding that “of course, there has to be greater vigilance on the part of our consumers.”

The Wisynco renewable energy plant is currently the largest and first solar to high voltage application to be developed in Jamaica.

It comprises a two-acre farm with solar panel ground installations, and corresponding roof fixtures, which form the project’s first phase.

The plant’s daily output, which has been averaging approximately 5,000 kilowatts hours of electricity since it came on stream earlier this month, cumulatively accounts for approximately eight per cent of Wisynco’s total monthly energy consumption levels.

This has realized savings averaging approximately $118,950 (US1,000) per day for the entity.

The facility’s development coincides with the 50th anniversary of Wisynco’s operations in Jamaica.