Wigton Extends Power Purchase Agreement with JPS by 3 Years

• Wigton Windfarm Limited has advised that entered into an Addendum to the Power Interchange Agreement in respect of Wigton Phase I with the Jamaica Public Service Company Limited on February 16, 2024, to extend the period of operation of the plant for another three (3) years starting April 1, 2024.
• The extension of the period of operation of Wigton Phase I will allow for the continued generation of energy from the plant by means of the existing equipment. It will also allow more time for stakeholder engagements on the repowering exercise to install newer and more efficient equipment to continue.
• After rising 25.4% in 2023, Wigton’s stock price has appreciated a further 40.5% since the start of 2024 and closed Monday’s trading session at $1.11 per share. At this price, the stock trades at a P/E of 38.3x, which is above the Main Market Energy, Industrials and Materials Sector of 16.9x.

(Sources: JSE & NCBCM Research)