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Need a reason to invest in renewables in Jamaica?


In preparation for moderating the panel "Promoting Investment in the Jamaican Renewable Energy Sector", where I had the pleasure of meeting Senator Aubyn Hill, Minister of Industry, Investment and Commerce, I jotted down all the positives of investing in new Jamaican renewable energy generation on one side of A4 and ran out of room...


+ Abundance of natural energy resources (3,000 hours of sunshine a year, consistent coastal breeze, dozens of rivers)


+ There is an urgent need to reduce the country's dependence on imported fossil fuels (which make up nearly 90% of generation) and reduce electricity costs to consumers


+ Investor-friendly, no local restrictions on foreign ownership


+ Ratings Positive outlook underpinned by strong World Bank Governance Indicators, declining debt trajectory and a robust policy framework


+ Global openness to trade (CARICOM, CBREA, EPA) etc.


+ Forward-thinking government, implementing an integrated approach to climate-related FDI


+ 50% target of generation from renewables (1.6 GW requirement)


Plus, you get to be in Jamaica.....


A great event. Congratulations to JAMPRO.

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