One of the things that I want to focus on at MoneyMax is energy. Here in Jamaica and the Caribbean there are concerns about our energy usage and production.
Today, in the Sunday Gleaner some articles about alternate energy were published to which I would like to bring your attention.
Cement producers exploring coal
Jamaica’s cement producers, by their estimates, can save roughly US$37 million (J$3.2 billion) annually by building their own coal power plant, as opposed to purchasing oil fuel from the national grid or any other source.
The article highlights that Carib Cement believes it can save US$8 million annually from a US$70 million 40 megawatt coal plant, while a yet to be installed start-up, Cemcorp believes it can save US$29 million from a 30 megawatt coal plant, and a 9 megawatt co-generation plant.
Brace for bigger JPS bills – New, accurate meters are installed This story while not directly related to alternate energy, is relevant as it discusses our energy consumption. Read story here
Capital & Credit launches ‘green’ loans
This was highlighted last week based on an ad that I saw in the paper. Now the Gleaner corroborates the story with more details.
Capital and Credit Financial Group is offering loans as low as 9.5 per cent, pitched at renewable energy sector through its merchant-banking arm. The loans, which are capped at J$5 million, can be used to finance renewable energy and solar water-heater systems.
Among the projects that new and existing clients of the merchant bank can use the funds to finance are windmills, solar panels or turbines. Loan recipients will get a maximum 10 years to repay.
Additionally, Capital and Credit Merchant Bank is also offering financing for solar water heaters up to a maximum of J$250,000 with repayment period of three years.
And apparently Capital and Credit is not the only one
Capital and Credit is one of the many institutions now pushing to ‘go green’.
Scotiabank has facilities in place that can be used for renewable-energy products, as well as government entities such as the EXIM Bank, National Housing Trust and the Development Bank of Jamaica.