Energy Sector Business Opportunities in Jamaica

Learn about upcoming business opportunities in the sector, understand the latest developments in the regulatory environment, and learn about tools and resources to support your company’s market entry to Jamaica directly from the experts!

Jamaica is the largest island in the English-speaking Caribbean with a GDP of $15 billion. The Government of Jamaica has undertaken an economic reform program with the IMF which has lowered public debt, decreased unemployment, and resulted in strong economic growth

Jamaican Prime Minister Andrew Holness has committed the country to generating half of its energy from renewables by 2037 and the Jamaican Ministry of Science, Energy and Technology (MSET) announced a $7.3 billion integrated resource plan to reach these goals, including $2 billion for replacing old power plants. By 2025, the Jamaican government plans to invest in 320 MW of solar and/or wind, 120 MW of liquefied natural gas, and 74 MW of hydro, waste to energy, and/or biomass.

The Government of Jamaica’s trade and investment promotion authority, JAMPRO offers various tools and support for U.S. participants in these projects. The American Chamber of Commerce in Jamaica is a great resource as well.

The Jamaican government has committed to investing $7.3 billion in energy projects so that the country can meets its goal of generating half of its energy from renewables by 2037.

• U.S. companies have invested nearly $1 billion in the Jamaican energy sector.
• Jamaican utility JPS has also announced $500 million of investment in electric vehicle charging stations, two distributed energy projects, and a hybrid energy storage solution.