Wigton Windfarm Limited Registers New Business (Wigton Energy)

• Wigton Windfarm Limited (Wigton) announced that it established a new brand, and registered the business name ‘Wigton Energy’. This was done to adopt a brand identity that directionally aligns with its vision and plans to diversify its business into other areas of energy and profitable investments. However, Wigton Energy is only a registered business name. Wigton’s registered name and trading name on the Jamaica Stock Exchange (JSE) remain Wigton Windfarm Limited.
• While Wigton is the largest wind energy facility in the English-speaking Caribbean, it plans to diversify into other areas of renewables, including clean technology solutions and other investment opportunities, to ensure continued growth in shareholders’ value. The new Wigton Energy brand aligns with the company’s diversification strategy.
• On February 16, 2024, there was an Addendum to Wigton’s Power Interchange Agreement with the Jamaica Public Service Company Limited (JPS), to extend the period of operation of its Wigton Phase I plant for another 3 years to April 2027^[1]. With the agreement set to expire in 3 years, diversifying Wigton’s business is critical to business continuity.
• To steer the company into this new strategic direction, Wigton recently recruited Mr. Gary Barrow as Chief Executive Officer and appointed Ms. Michelle Chin Lenn as Deputy Chief Executive Officer. Mr. Barrow has 30 years of leadership experience in the telecommunications/energy sector and was a former Chief Operating Officer of JPS. Ms. Chin has 17 years of experience on Wigton’s Management team and was Head of Energy.

 (Source: JSE & NCBCM Research)

 

^[1] The extension for another three (3) years is as of April 1, 2024.