KINGSTON, Jamaica — A 66 megawatt heavy fuel oil power plant at West Kingston in Jamaica started commercial operations on Wednesday.
The West Kingston Power Project was financed by a consortium of lenders including the International Finance Corporation, CAF – the Andean Region Financial Institution, DEG – the German Development Finance Institution, and the Bank of Nova Scotia. Construction began in the first quarter of 2011 under an engineering, procurement and construction contract with Wartsila of Finland. The West Kingston plant will sell energy under a 20-year power purchase agreement with Jamaica Public Service Company, the national utility.
Eyob Easwaran, partner of Conduit Capital Partners, a private equity investment firm focused on energy infrastructure investment and development in Latin America and the Caribbean, said: “It is very exciting to add a third power plant to Conduit’s generation portfolio in Jamaica, which now has a total of 190 MW of operating and contracted capacity. This further demonstrates Conduit’s continued confidence in the Jamaican market, its project company staff and the client.”
Conduit Capital reacquired Jamaica Energy Partners and the right to develop the West Kingston Power Project through the firm’s Latin Power III Fund in mid-2009.
Conduit has extensive experience in Jamaica, having invested in Jamaica Energy Partners since the mid-1990s. Jamaica Energy Partners owns two power barges totaling 124 MWs. Conduit is 100 percent owner of West Kingston Power Partners and Jamaica Energy Partners.