Tag - off shore wind farm

Wigton projects $1 Billion net profit

Wigton Wind Farm Jamaica Ltd, the largest wind farm in the English speaking Caribbean has forecast $1 billion in net profit and will offset just under 60,000 barrels of imported oil by producing clean electricity from the wind. This would have otherwise cost the country about $600 million to import oil for electricity production using old, inefficient generators. The Wigton Wind Farm is paid US₵10.21 per KWh up from US₵5.00 by the Jamaica Public Service Company, while JPS, the only...

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PetroCaribe Solution: Integrating Renewables in the Caribbean

Former Venezuelan  President Mr. Hugo Chávez The recent death of Venezuelan President Mr. Hugo Chávez has sparked concerns across the Caribbean and Latin America Energy sectors. It has been forecast that cheap Venezuelan oil which once flooded our shores are no longer expected to at the rate it did during Mr. Chávez 's 14 year tenure under the PetroCaribe deal. The agreement which was initiated in 2005 provided more than a dozen countries in Latin America and the Caribbean with oil and...

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Funding an Offshore Wind Farm

The funds from the recently failed LNG project which was expected to cost over US$602 million could be channeled to an offshore wind farm capable of lowering Jamaica's monthly energy bills permanently unlike the failed LNG project which was subjected to imported natural gas. In order to ensure that our country stops digging the 'borrow from Peter to pay Paul’ pit, the country needs to ensure that it has a solid project that will guarantee that we repay US$750...

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