The National Education Trust (NET) will be seeking to identify private sector provider(s) to undertake the financing, installation and maintenance of photovoltaic generation systems in a pilot project of 30 select secondary schools. It is envisaged that the project will be implemented under an Energy Service Company (ESCO) model with payment to the private sector being made from savings.
The objectives of the project are to:
- Reduce the energy cost to the schools by 40-70% and, ultimately, to reduce the fiscal burden of the Government of Jamaica.
- Create an energy conservation and efficiency education programme simultaneously
- To demonstrate the model for effective replicability throughout the school system
- The potential for replicability within the entire school system
- Multi-lateral interest in financing for renewable energy projects
Negotiations with the Preferred Provisional Bidder concluded. Cabinet approval being sought of the final negotiated terms to facilitate Commercial Close of the Concession Agreement.