Is solar energy a good source of energy for Jamaicans?

For many Jamaicans, solar energy can prove to be an ideal source of power for homes and businesses due to the increase in oil prices and electricity bills. The Government has been encouraging the use of renewable energy, such as solar energy, as a means of reducing electricity costs.

Is MPC energy leased land in Jamaica for a solar power plant?

Europe-based global clean energy firm MPC Energy Solutions, which is listed on the Oslo Stock Exchange in Norway, is reporting that it has leased several acres of land in Jamaica as part of a major project to develop a 72.5-megawatt, MW, solar power plant here.

How does Jamaica's energy system work?

Jamaica's energy system is heavily reliant on imported fossil fuels, with petroleum imports accounting for over 80 percent of electricity production. The country's electricity production is mainly dependent on imported fossil fuels. Here’s a quick glance at how the sector has performed over the last five years.

What is the largest solar plant in Jamaica?

A successful buildout of the planned investment would result in it being the single largest solar plant in Jamaica. Currently, the Eight Rivers solar project, in which the MPC Energy Solution-related MPC Capital of Germany holds a stake of more than 30 per cent, generates between 35MW to 51MW of energy at Paradise Park in Westmoreland.

Does Jamaica's energy consumption support low value added activities?

In essence, Jamaica’s energy consumption has been increasing at a much faster pace than the expansion of the economy. This could mean that Jamaica’s increasing electricity consumption is supporting low value added activities. If the same electricity resource was targeted toward higher value added activities, Jamaica could increase GDP per capita.