Money Matters News

JA to Save US$350 million in Energy Costs

energy-saving-plant-feature

Jamaica should save US$350 million in energy costs by 2018, a whopping 30% reduction in costs, due to new baseload generating plants and other energy saving projects due to commence in 2015 and simultaneously provide approximately 2,500 new jobs.

Several companies have presented proposals to build, own and operate new power generation and feedstock facilities, supplying electrical power to the national grid, such as the Jamaica Public Service (JPS), Jamalco and Alpart.

JPS seeks to convert the existing  Bogue Power Station in Montego Bay, to burn gas and replace the power plants at Old Harbour and Hunts Bay with a  gas turbine plant, fuelled with liquid natural gas.

It is also hoped that Jamalco will be ready their low sulphur coal fired co-generation facility.