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Jamaica Public Service Company: Essential upgrading for an electricity distributor
Project
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Signature date
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Location
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Jamaica
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Financing tool
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Financing amount (Euro)
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46310471.52
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Financing details
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Loan of USD 60,5 M
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Customer
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Jamaica Public Service Company Ltd
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Type of customer
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Company
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Project number
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PJM1001
Proparco is supporting the investment plan of Jamaica Public Service Company, Jamaica’s only electricity distributor. One of the program’s aims is to upgrade generation infrastructure and the transmission grid.
Client presentation
Jamaican Public Service Company (JPS) is owned by Japan’s Marubeni, Korea’s East-West Power Company, the Jamaican Government and a few private shareholders. With a generation capacity of over 620 MW, JPS is currently Jamaica’s only electricity distributor.
Project description
Proparco’s loan will contribute to financing the rehabilitation and renewal of JPS’ generation infrastructure and power transmission and distribution grids. It will also support the implementation of an ambitious plan to reduce power losses, as well as the construction of renewable energy infrastructure.
Project impact
This investment program will contribute to improving the quality of JPS’ electricity service, improving the energy efficiency of its activities, and reducing the level of power losses on the grid. It will also contribute to diversifying Jamaica’s energy mix and will have an impact on the climate by reducing greenhouse gas emissions by 410,000 tons a year.