Private Investors Submit Proposals For Renewable Energy

• Several private investors have submitted proposals for renewable energy projects in Jamaica for Government consideration. Among them is an integrated solar and hydro energy project, which was announced by Prime Minister, the Most Hon. Andrew Holness. 
• These investments follow the House of Representatives’ recent approval of the exemption of GCT on Lithium-Ion Batteries. Renewable energy continues to be a major talking point as an alternative source of energy in light of the high energy prices experienced as a result of geopolitical tensions. 
• These investments are expected to assist in realizing the Government’s goal of increasing the ratio of energy generated from renewable options from the national power grid to 50% by 2030. 
• This could also contribute to a 60% reduction in Jamaica’s carbon dioxide emissions, also being targeted for 2030, in keeping with the country’s Nationally Determined Contributions (NDCs) under the Paris Agreement. The NDCs embody countries’ efforts to reduce carbon dioxide emissions and adapt to the impacts of climate change.

(Source: JIS News)