WRB Enterprises and Jamaica Public Service Company Limited Sign Milestone Agreement for Solar Generation Project

WRB Enterprises (WRB) and Jamaica Public Service Company Limited (JPS) signed a power purchase agreement (PPA) yesterday paving the way for JPS purchasing energy from the renewable power generation company.

The 20-year agreement with Content Solar Limited, WRB’s Jamaican project company, will deliver 20 megawatts of reliable, clean renewable energy to the Jamaican grid.

Approximately US$60 million will be spent to construct the 20 MW (ac) photovoltaic generation project that will see 98,000 panels installed in Content Village, Clarendon Parrish. “This will be the largest photovoltaic installation in the English-speaking Caribbean,” said Bob Blanchard, WRB’s President & CEO.

The Content Solar project should save Jamaica the importation of more than 8.5 million gallons of fuel per year. This is equivalent to approximately $170 million USD of foreign exchange over the 20-year term of the PPA,” according to Robert Blenker, Vice President Renewable Energy of WRB and Director of Content Solar Limited. “This is a major milestone not only for Jamaica, but for the Caribbean. We are ready to get to work,” he said.

“We are excited to create a project that will provide clean, sustainable energy to more than 20,000 Jamaican families,” said Blenker. It is expected that the project will create between 30 to 60 new jobs during construction, which will commence in October. Commissioning is scheduled for September 2015.

About WRB Enterprises

WRB Enterprises Inc. is a closely-held private company with deep roots in the Caribbean. Its operations encompass utility management, telecoms, banking, real estate, renewable energy development and conservation. With more than three decades in the region, WRB focuses on long-term relationships and investments in national development while delivering high quality service to its customers and stakeholders.

WRB has owned and operated electrical generation and utility assets in the Caribbean since the early 1980s. WRB currently operates the public electric utility for the Caribbean nation of Grenada, where it provides fully integrated electrical services – power generation, distribution, metering and billing – to tens of thousands of residents and businesses. WRB also operated the power systems in Grand Turk and Dominica.

Based in Tampa, Florida, WRB has built a stable asset base and a well-capitalized organization with substantial interests in community banking. WRB is one of the largest shareholders in both the Bank of Tampa and CenterState Banks, two of the largest independent banks in central Florida. For more information: www.wrbenterprises.com

About Jamaica Public Service Company Limited

With a customer-base of nearly 603,350, Jamaica Public Service Company Limited is the sole distributor of electricity in Jamaica. JPS has a generation capacity that exceeds 620 Megawatts, using steam, gas turbines, combined cycle, diesel, and hydroelectric technologies. JPS operates 24 generating units including ninehydros and one windfarm, and 52 substations. JPS also owns approximately 16,000 kilometres of distribution and transmission lines, and purchases additional electricity from four Independent Power Producers (IPPs).

JPS’s ownership structure is four tiered with Marubeni Caribbean Power Holdings Inc. and Korea-East West Power each holding 40 percent ownership, the Government of Jamaica owns approximately 19% and a small group of minority shareholders with less than 1 percent. As a responsible corporate citizen, JPS has a vested interest in national development, and invests substantially in the areas of education, health care and sports. The company employs over 1,600 highly skilled engineers, technicians and service professionals. For more information: www.myjpsco.com

Contacts:

WRB Enterprises Inc.
Bob Blanchard, Jr., 813-251-3737
grb@wrbenterprises.com
or
Bob Blenker, 423-240-1150
rblenker@wrbenterprises.com

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