31 May '18, 9am

Jamaica-Paradise Park solar PV farm in Jamaica reaches successful financial completion

The project will be commissioned in the first half of 2019, having won a tender launched by the Jamaican Office of Utilities Regulation (OUR). IPP Neoen is the majority shareholder. The company announced the signing of the project financing with Proparco (France’s development bank) and FMO providing the senior debt for the project, with a total investment amounting to $64 million. Paradise Park will deliver to Jamaica Public Service Company Limited the cheapest electrical energy ever made available in Jamaica - with a tariff of $85/MWh - through a 20-year power purchase agreement. “This project shows how a combination of investment in an emerging country, cutting edge technology implemented by first class international contractors and a strong governmental and grid operator support, with a large environmental and social component, can generate value by offering the most co...

Full article: https://www.renewableenergymagazine.com/pv_solar/paradise...

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Paradise Park solar PV farm in Jamaica reaches successful financial completion

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