MAY 7, 2019
A $12 million partnership between the United Nation Development Project (UNDP) and the Petroleum Corporation of Jamaica (PCJ) is in the process of developing a more efficient energy system that should reduce the tax expenses of the government.
The new funds will come from the Energy Performance Contracting (EPC) mechanism that local energy service companies have begun training to use.
The mechanism will allow affordable and continuous incorporation of renewable energy and energy efficient technology to the public and private sectors.
Programme Specialist of the UNDP, Richard Kelly, says this project is different as it provides a sustainable financing mechanism where as other projects have more of an infusion of the technologies in their operations.
Compensation for the project will only take place once energy consumption is reduced, as such there will be no upfront cost to the government or upfront payments for the training of the local contractors.
“It is a performance contract in a sense so if they say that they are going to save us a dollar, we have to see that dollar being saved before another payment is made” says Brian Richardson, Acting General Manager of the PCJ.
The UNDP says it has sensitized over 80 persons within the health sector on renewable energy and energy management to assist in the effective manipulation of the interventions that will be received.
The project aims to award the government significant savings on its annual $14 billion electricity bill which can then be used for investment in hospitals and other economic projects.
CVM Television Limited (CVM TV) broadcasts 24 hours of scheduled programming each day. CVM TV aims to maintain high quality, first-world broadcasting standards and ongoing coverage across the entire island at all times.