Marubeni Corp. is to participate in the Old Harbour gas-fired power station in Jamaica through its 40% interest in the Jamaica Public Service Co. Ltd (JPS). This project will replace existing oil-fired power plants which JPS owns and operates, with a highly efficient and low-carbon gas-fired power station. This project will also help to greatly improve the diversification of fuel sources for the country of Jamaica.
The construction and operation of the Old Harbour Project will be performed by South Jamaica Power Co. Ltd, which Marubeni, JPS and Korea East-West Power Co. Ltd. jointly established. The total amount of Marubeni’s interests in SJPC is 45% including indirect interests through JPS. Over US$200 million of the total project cost of US$330 million will be raised from project finance.
Marubeni has an extensive and diverse portfolio of power plants around the world. Through its insight and experience in the global power business, Marubeni will continuously contribute to the development of Jamaica by providing stable power supply through JPS and SJPC.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/24032017/marubeni-to-participate-in-jamaican-gas-fired-power-plant/