Showing posts with label secures. Show all posts
Showing posts with label secures. Show all posts

Wednesday, February 4, 2015

Vestas secures 36MW order in Jamaica; project will become country"s largest wind farm

VESTAS has received a firm and unconditional 36.3MW order for 11 units of the V112-3.3MW turbine for the BMR Jamaica wind project in St Elizabeth.

The order was placed by the US-based project developer BMR Energy.

The contract comprises the supply, installation and commissioning of the wind turbines as well as civil and electrical works for the construction on the project. An interconnection transmission line will be constructed separately by the local utility.

Turbine delivery is planned for the third quarter of 2015, with commissioning expected in the first quarter of 2016. Upon completion, the BMR Jamaica project will be Jamaica’s largest wind farm.

Jamaica, like much of the Caribbean region, is heavily dependent on fossil fuels for power generation and thus much affected by the fluctuating prices and pollution that result.

The BMR Jamaica wind project has an estimated gross annual production of more than 120 GWh, which corresponds to an annual emission saving of 85,400 tonnes of CO2. Once completed, this wind power plant will provide electricity to approximately 300,000 people in Jamaica.

“Jamaica is located in an area prone to hurricanes. Vestas’ long experience in wind technologies and different weather conditions make it an ideal partner for this project, which requires cutting-edge technology to guarantee the continuous and sustainable operation of the wind power plant at all times”, says Bruce Levy, president of BMR Energy.

“Having installed the first commercial wind generator in Jamaica in 1996 and completed the Wigton wind power plant in 2010, our customers benefit from Vestas’ experience undertaking wind projects in the country. Our wind turbines are well suited to the tropical climate and are able to withstand the extreme wind conditions that can sometimes occur in the Caribbean,” says Marco Graziano, President of Vestas Mediterranean.


View the original article here



Vestas secures 36MW order in Jamaica; project will become country"s largest wind farm

Wednesday, July 2, 2014

Jamaica secures $800M through bond offer

The Government of Jamaica was able to raise US$800 million in a bond offer on Tuesday.

This success came days after Christine Lagarde, Managing Director of the International Monetary Fund (IMF) endorsed the country’s progress under the Fund’s programme, and is being viewed as a vote of  confidence from international investors.

The offer, which was announced, launched and priced within three hours, was the fastest ever executed for Jamaica.     
A release from the country’s Ministry of Finance Finance revealed that the original aim was to raise  US$ 500 million, but the offer was increased to $800 million, based on investor response. It has been priced at 7.625% and comes due in ten years.      

This is the first time Jamaica is using this means to raise funds in more than two years. Investors had shied away from lending money to Jamaica in the aftermath of  the failure of  the 2010 IMF deal.


View the original article here



Jamaica secures $800M through bond offer

Jamaica secures $800M through bond offer

The Government of Jamaica was able to raise US$800 million in a bond offer on Tuesday.

This success came days after Christine Lagarde, Managing Director of the International Monetary Fund (IMF) endorsed the country’s progress under the Fund’s programme, and is being viewed as a vote of  confidence from international investors.

The offer, which was announced, launched and priced within three hours, was the fastest ever executed for Jamaica.     
A release from the country’s Ministry of Finance Finance revealed that the original aim was to raise  US$ 500 million, but the offer was increased to $800 million, based on investor response. It has been priced at 7.625% and comes due in ten years.      

This is the first time Jamaica is using this means to raise funds in more than two years. Investors had shied away from lending money to Jamaica in the aftermath of  the failure of  the 2010 IMF deal.


View the original article here



Jamaica secures $800M through bond offer