07 Apr Press Release: InterEnergy Group Acquires Jamaica Private Power Company, Jamaica Energy Partners Assumes Management
Kingston, Jamaica – March 20, 2019: In light of JEP’s continuous commitment to supplying Jamaica’s growing energy needs, InterEnergy Holdings (IEH), owners of the independent power generating giant, recently acquired the Jamaica Private Power Company (JPPC), a 60 MW power plant located in Rockfort, Kingston. JPPC, which is also an independent power producer (IPP), utilizes slow-speed diesel generators to produce electricity for sale to the national grid. Following the closing of the J$4 billion transaction this month, JEP assumes management of all JPPC assets.
This acquisition expands the group’s total generating capacity. Today, with JEP’s two power barges (124 MW) in Old Harbour Bay; West Kingston Power Partner’s 66MW onshore plant and the addition of JPPC, the InterEnergy Group now owns and operates a total capacity of 250 MW in Jamaica – retaining the company’s position as the largest independent power provider.
President and CEO of the three companies, Wayne McKenzie, has indicated that the JEP team has a vested interest in Jamaica. “We believe in enabling businesses to sustain the lives of our people, through employment, the provision of local goods and services as well as promoting a good standard of living. With this addition, our company will not only increase its reach but contribute more to national development and energy security whilst maintaining a 100% Jamaican workforce.”
Mr McKenzie, along with JEP/WKPP’s current management team, has already implemented the necessary plans to continue business as usual at the newly obtained power facility. McKenzie and the senior management team, including CTO, Cecil Gordon and CFO, Raymond Grant, expeditiously mobilized a transition team from JEP/WKPP to join the staff at JPPC amid new management. With over 20 years of experience each, our senior managers have groomed the transition team, which is dedicated to working assiduously to meet the demands of the sector and energy needs for all Jamaicans.
JEP and its affiliates, part of InterEnergy Group, have always supported the Government of Jamaica’s initiatives since its formation in 1995. We were the pioneers in the independent private power market when the country urgently needed generating capacity through foreign direct investment and have strategically grown our portfolio from 74MW to 250MW.
Chairman of the InterEnergy Group, Rolando Gonzalez-Bunster, spoke to the strength of IEH’s partnership. “The IEH Group represents the perfect partner to continue the alliance with the Government’s strategies. Our portfolio of assets includes wind, solar and natural gas-fired power plants, all part of the Government’s strategy for the next thirty years. We remain committed to the support of national initiatives and are grateful to the Government in providing a seamless transition in conducting business in Jamaica.”
InterEnergy also owns and operates energy businesses in Latin America and the Caribbean. Their roots in the power generation business started twenty-six years ago in the Dominican Republic, and today InterEnergy owns and operates power distribution assets as well as fuel distribution and logistics businesses in Panama, Jamaica, and Chile with a power portfolio that represents near 1,250 MW of aggregate available capacity.