Prototype Power Purchase Agreement
For any large investment in renewable energy to achieve the targets of 20% by 2020 and 30% by 2030, a Power Purchase Agreement (PPA) for renewable energy (PV system) is absolutely nesessary to fill the gap between 100kw (net-billing) and 25meg (above has to tender) This initiative is in the right direction and if the JPS is serious about their commitment to promote renewable energy, I would expect them to take the lead and work the other stakeholders in the renewable industry to arrive at an amicable agreement with a rate we can all agree on.
This should be pursued as a matter of urgency.
The Inter-American Development Bank (IDB) has provided grant funding to the Caribbean Electric Utility Services Corporation (CARILEC), to implement the Energy Efficiency and Renewable Energy project for CARILEC. The project, which began in 2009, is geared at enhancing CARILEC’s capability to assist its members in improving their efficiencies and promoting the use of renewable energy technologies and alternative fuels in the Caribbean region.
One of the objectives of the project is to produce a prototype Power Purchase Agreement (PPA), which will help to encourage investment in, and deployment of, renewable energy technologies. The prototype PPA was finalized in December 2011.