Shocking news in electricity sector

[Don1]

Let's see this EWI/JPS combo post that US$37m....and raise another US$700m


Energy World International, JPS execute 20-year Power Purchase Agreement



Published: Saturday January 25, 2014

Representatives of Energy World International (EWI) and Jamaica Public Service Company Limited yesterday formally executed the Power Purchase Agreement (PPA) paving the way for the start-up of the base load capacity project.

EWI is the company which has won the government’s bid to provide 360 megawatts of energy to the national grid.

The Office of Utilities Regulations (OUR) says it has approved the PPA which sets out the terms and conditions between the developer and the grid operator for the sale of power to the national grid.

The 20-year PPA becomes effective on the issuance of a licence to supply electricity generating capacity to EWI by the minister of energy.

EWI will be required to post a five per cent bond of approximately US$37 million.

Under the PPA, EWI will design, finance, construct, operate and maintain the power generation facility which will have a net capacity of 381 megawatts.

Construction of the plant is expected to begin in 2014, and will be completed within 26 months.

[Rockman]

Seems like a commitment to to traditional energy mining,always thought the welcomed news would be Jamaica investing is alternative ways,solar,wind...
Not sure about OUR either,not really making a dent..,even today there were promises made by the JPS that they did not keep.
In the end will cheaper rates for JP really happen?

[Don1]

In the end will cheaper rates for JP really happen?

Now that is the 381 Megawatt question

[Muadib]

Wait.. what happen tuh di Korea East-West Power Co.. dem nuh own 40% of JPS ?

lol ! woiee !

Under the jail some people suppose fi guh...

[Muadib]

Round and Round the Mulberry Bush..

<Pumped-storage hydroelectricity (PSH) is a type of hydroelectric power generation used by some power plants for load balancing. The method stores energy in the form of potential energy of water, pumped from a lower elevation reservoir to a higher elevation. Low-cost off-peak electric power is used to run the pumps. During periods of high electrical demand, the stored water is released through turbines to produce electric power. Although the losses of the pumping process makes the plant a net consumer of energy overall, the system increases revenue by selling more electricity during periods of peak demand, when electricity prices are highest.
Pumped storage is the largest-capacity form of grid energy storage available, and, as of March 2012, the Electric Power Research Institute (EPRI) reports that PSH accounts for more than 99% of bulk storage capacity worldwide, representing around 127,000 MW.[1] PSH reported energy efficiency varies in practice between 70% and 80%,[1][2][3][4] with some claiming up to 87%.[5]>

Energy Independence..

Emancipate yourselves from mental slavery..

[Don1]

Yuteman...I have neither time nor patience to wade thru elliptical statements using wikipedia as a source to prove some unknown variable

Please try again when your orbit takes you closer to Planet Earth allowing you to post something sensible

[Don1]

So gi wi di suss...sarry...insider info nuh????

Will this project start the build in 2014??? Will it be completed before 2016-2017 election as termites hope??? Will it decrease pricing as advertised (variously)????

Tap yuh merry-go-round ....Get to the point with specifics please

[Muadib]

there is an adage about pearls and a four legged creature..

Wind with Pumped storage is the Critical Thinker approach for Jamaica's energy independence..

I now return you to the regular scheduled road to perdition.. 40 years and counting..

[Don1]

Wikipedia tuh di Whirl!!!!!

[Muadib]

suss ? yuh cyaan read.. mi ah explain why we are where we are.. which is.. in the twilight-zone with a company called Energy World International with our Energy future in their 3-Card hands !

lol ! woiee !

<The power company was selected by the OUR over a year ago as preferred bidder for the 360 MW plant and commenced negotiations on the execution of the project, including the feasibility of getting LNG done.

JPS was also the only bidder for a project that would be reliant on non-existent LNG infrastructure and supplies to be successfully executed.

The talks had not reached the stage for a contract to be issued. Callum said that while it was agreed that JPS would develop the plant, the negotiations would have finalised the terms of the contract to be awarded.

JPS and its majority owners, Marubeni and Korea East West Power, created a vehicle called South Jamaica Power Company Limited (SJPC), to execute the project and operate the plant that it estimated would cost US$614 million to develop.>

<Kingston, 13 July (Argus) — Jamaica will reopen bids for a floating LNG import terminal as recommended by regulators that criticised how the original contract was awarded.

A government committee in charge of the project will determine when the tender will be reopened, Jamaica's information minister Daryl Vaz said today. There was nothing stopping a consortium led by Belgian shipping firm Exmar that originally won the bid from making a new bid, Vaz said.

Jamaica's state-owned energy company PCJ awarded the contract for the $600mn, 1.2mn t/yr project 13 months ago to the consortium that includes Colombian pipeline operator Promigas and Jamaican firm CLNG. But Jamaica's contractor-general Greg Christie said in May that the tender should be reopened amid evidence that the bidding process lacked transparency, a charge rejected by Exmar>

<Natural gas rose around the world on speculation Japan will buy more of the fuel, intensifying competition for liquefied natural gas, after the country’s worst earthquake halted 11 nuclear reactors.

Gas for next winter in the U.K., Europe’s biggest consumer, gained as much as 7.4 percent, to 74 pence a therm, the highest since November 2008, according to broker prices. The contract was at 73 pence as of 4:30 p.m. in London, equal to $11.80 per million British thermal units. U.S. gas for April delivery rallied 2.9 percent to $4.002 a million Btu in New York.

“The prolonged risk of nuclear outages could divert spot LNG cargoes to Japan and incrementally tighten LNG supply,” Barclays Plc analysts including London-based Kerri Maddock said in a note today.>

Connect the dots...

[Don1]

I'm busy trying to remake Jamaican secondary education away from ossified 3Rs/rote learning to Big Ideas and innovative national models

I have no time to be connecting whatever JLP-flavored dots you toss around

Thanks for trying though

[Muadib]

Quote me the Observer editorial on the signs of progress again....

lol ! woiee !

[Muadib]

well then do that and stop stumbling around in the dark on other matters..

[Don1]

Lol... ok boss