Energy World International highest bidder for electricity...

Energy World International highest bidder for electricity project6:32 am, Fri August 9, 2013

Energy World International has emerged as the highest bidder to provide additional generating capacity to Jamaica's national grid.

It has presented the Office of Utilities Regulation (OUR) with a projected cost of US$737 million, using natural gas.

Azurest Partners Cambridge, which is proposing to use heavy fuel oil and natural gas, was the second highest bidder with US$690 million .

According to a statement from the OUR, Energise Jamaica Limited presented a bid valued at US$586.7. Two bids came in from Optimal Energy Limited one for US$571.9 million and the other for US$559 million.

The Jamaica Public Service Company will be partnering with three of the local bidders.

Meanwhile, Phillip Paulwell, Energy Minister is expecting an early report from the OUR on the results of the evaluation of the bids. The OUR is expected to finalise negotiations relating to the project by December 2, and has set January 30, 2014, as the deadline for the start of construction of the new plant.