20MW Wind Farm in Jamaica
RE/EE Investment Advisory Facility (IAF)

($38,115 advisory support for $28,000,000 total investment)

Purpose

Advising the project sponsors RES and the Petroleum Corporation of Jamaican on whether emission reduction credits for a wind farm investment in Jamaica can be valued within the Power Purchase Agreement (PPA), or sold to third party. A carbon trading consultant was hired to advise the project sponsor.

Summary

The wind project is a proposed 20.25 MW facility in Wigton, Manchester, Jamaica. The project will be the first commercial wind farm in Jamaica.

Place and duration

Jamaica and UK, 6 months

Status

The evaluation of the carbon value which could be obtained for the project was completed June 2000. This report is available on request. A letter of intent for the sale of 1.05 million metric tons of CO2 was signed in August 2000 with the Prototype Carbon Fund. However, power purchase agreement negotiations with the electricity utility were sidetracked for 18 months due to privatisation. As of summer 2002, the PPA has been signed and although the LoI with the PCF has lapsed, the project has been shortlisted for a carbon sale to Cerupt.