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Posted: Saturday, October 19, 2013 8:39:36 AM

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Renewable energy bidders make security bond deposits

Published: Saturday | October 19, 2013 0 Comments

THE OFFICE of Utilities Regulation (OUR) has received the security bond from the initial three preferred bidders for the 115 megawatts of electricity-generation capacity from renewable energy-based power facilities on a build, own and operate basis.

Yesterday, the OUR said all three entities, which would supply 78 megawatts of the required amount, met the October 15 deadline to submit their bid security.

Blue Mountain Renewables LLC is to supply 34 megawatts of capacity from wind power at Munro in St Elizabeth; Wigton Windfarm Limited will supply 24 megawatts of capacity from wind power at Rose Hill, Manchester; and WRB Enterprises Inc will supply 20 megawatts of capacity, using Solar PV, from facilities in Content Village, Clarendon.

The proposed delivery price to the national grid for these projects ranged from US$0.1290 to US$0.1880.

The OUR said it will be returning to the market in early 2014 to find a qualified bidder offering firm capacity to complete the 115-megawatt project of renewable energy.

Expecting to complete negotiation of the project agreement by June 18 next year, the OUR said the highest-ranked successful applicants have until June 28 to post their performance-security deposit.

Construction is expected to begin next August and the plants to be in commission by July 2016.
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