RELP (formerly GREENMAP) and the Government of Jamaica Work Together to Scale Up Renewables in the Country

Brussels – On April 11, the Global Renewable Energy Mass Adoption Programme (GREENMAP) and the Generation Procurement Entity of Jamaica (GPE) have signed a Cooperation Agreement under which GREENMAP will work and give support to GPE to strengthen the design of the National Renewable Energy (RE) procurement programme and the successful implementation of the upcoming auctions.

GREENMAP will cooperate as a transaction adviser with the GPE in the design, deployment and implementation of the country’s RE Procurement Programme.

𝐉𝐚𝐦𝐚𝐢𝐜𝐚, 𝐥𝐚𝐬𝐭 𝐰𝐞𝐞𝐤. 𝐅𝐫𝐨𝐦 𝐥𝐞𝐟𝐭 𝐭𝐨 𝐫𝐢𝐠𝐡𝐭: 𝐀𝐧𝐝𝐫𝐞𝐚 𝐁𝐞𝐫𝐭𝐞𝐥𝐥𝐨, 𝐆𝐑𝐄𝐄𝐍𝐌𝐀𝐏’𝐬 𝐃𝐢𝐫𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝐂𝐨𝐮𝐧𝐭𝐫𝐲 𝐄𝐧𝐠𝐚𝐠𝐞𝐦𝐞𝐧𝐭 & 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩𝐬; 𝐅𝐞𝐫𝐧𝐚𝐧𝐝𝐨 𝐋𝐚𝐠𝐚𝐫𝐝𝐞, 𝐆𝐑𝐄𝐄𝐍𝐌𝐀𝐏’𝐬 𝐃𝐢𝐫𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝐏𝐨𝐥𝐢𝐜𝐲 𝐚𝐧𝐝 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧; 𝐅𝐥𝐨𝐫𝐞𝐧𝐜𝐢𝐚 𝐀𝐠𝐚𝐭𝐢𝐞𝐥𝐥𝐨, 𝐆𝐑𝐄𝐄𝐍𝐌𝐀𝐏’𝐬 𝐆𝐥𝐨𝐛𝐚𝐥 𝐇𝐞𝐚𝐝 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡; 𝐌𝐫 𝐃𝐚𝐫𝐲𝐥 𝐕𝐚𝐳, 𝐉𝐚𝐦𝐚𝐢𝐜𝐚'𝐬 𝐌𝐢𝐧𝐢𝐬𝐭𝐞𝐫 𝐨𝐟 𝐒𝐜𝐢𝐞𝐧𝐜𝐞, 𝐄𝐧𝐞𝐫𝐠𝐲 𝐚𝐧𝐝 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲; 𝐑𝐚𝐦𝐢𝐫𝐨 𝐆. 𝐁𝐚𝐫𝐢𝐧𝐚𝐠𝐚, 𝐆𝐑𝐄𝐄𝐍𝐌𝐀𝐏’𝐬 𝐃𝐢𝐫𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐃𝐞𝐬𝐢𝐠𝐧; 𝐋𝐞𝐧𝐧𝐨𝐱 𝐄𝐥𝐯𝐲, 𝐂𝐡𝐚𝐢𝐫𝐦𝐚𝐧 𝐨𝐟 𝐭𝐡𝐞 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐞𝐦𝐞𝐧𝐭 𝐄𝐧𝐭𝐢𝐭𝐲 (𝐆𝐏𝐄) 𝐚𝐧𝐝 𝐂𝐚𝐫𝐨𝐥 𝐏𝐚𝐥𝐦𝐞𝐫, 𝐏𝐞𝐫𝐦𝐚𝐧𝐞𝐧𝐭 𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐲 𝐚𝐭 𝐉𝐚𝐦𝐚𝐢𝐜𝐚𝐧 𝐌𝐢𝐧𝐢𝐬𝐭𝐫𝐲 𝐨𝐟 𝐉𝐮𝐬𝐭𝐢𝐜𝐞.

The main goals of the cooperation are:

• To successfully implement the first public auction to be launched in 2023 to procure RE generation capacity within the framework set by the Electricity Act 2015;
• To attract long-term investments, foster competition, and lower costs of RE generation through de-risking tools and strengthening the regulatory framework;
• To leverage the synergies among various partner organisations for a successful implementation of the national programme; and
• To attract additional funding from Multilateral Development Banks (concessional and non-concessional), institutional investors and philanthropies in support of the Government’s medium and long-term plan to scale up RE generation in the Country.

Both entities recognise the importance of working closely together to promote successful ways of attracting renewable energy investments into the country, at a lower cost through program-based de-risking solutions.

“We believe GREENMAP is the best advisor in this stage of our activities as they have an experienced team that has advised several countries in this capacity. We also are encouraged given their expertise in advising on renewable energy procurements in markets such as ours. Jamaica has signalled its commitment to an aggressive path to cleaner energy globally, and the Integrated Resource Plan (IRP) provides emphasis on the need for more RE capacity in keeping with Jamaica’s goal of 50% RE generation by 2030”, said Lennox Elvy, Chairman of the GPE.

“We are honoured and excited to support the Government of Jamaica to enhance the national renewable energy market in the country'', said Sebastian Kind, GREENMAP’s Chairman, and CEO. “This shows great commitment and represents an important step to transform the island’s energy mix while improving its energy security. This is a unique opportunity to make real progress towards a just energy transition for the country leveraging the abundant national resources'', he added.

About GREENMAP

Greenmap stands for Global Renewable Energy Mass Adoption Program and is an impact-driven and independent non-profit organisation. Greenmap focuses on accelerating the deployment of renewable generation in developing economies by directly supporting governments in the design and implementation of stable regulatory frameworks, competitive procurement processes, and new financial and credit enhancement tools, including program-based guarantees.

We focus on implementation to facilitate bankability, foster competition, and boost the local and foreign investments needed to materialise project installations, local economic and social development, and the reduction of GHG emissions.

About GPE:

The Generation Procurement Entity of Jamaica (GPE) is the national entity established by the Electricity Act 2015, as appointed in January 2020 by way of Cabinet Decision No. 1/20, to administer the procurement of new generation capacity and manage the replacement of generation to meet the national generation demand prescribed by the national Integrated Resource Plan (IRP).