The project, which is expected to cost over $60m, is being developed by WRB Enterprises through its subsidiary Content Solar.
The facility, which will be built in Jamaica’s Clarendon parish, will generate enough energy for over 20,000 homes in Jamaica and reduce more than 3 million gallons of fuel per year.
OPIC chief of staff John Morton said: "OPIC’s financing to WRB for Content Solar will both help the Jamaican people take an important step toward energy security and also show that Jamaica is a market where private investors can find opportunity for growth."
OPIC operates as the US Government’s Development Finance Institution. Jamaica currently generates more than 90% of its energy from imported oil.
Apart from fulfilling the US initiative, OPIC’s financing to Content Solar project also supports the Jamaican Government’s plans to increase energy generation from renewable sources.
The facility is the second OPIC-financed project in support of the Caribbean Energy Security Initiative, which was unveiled in June 2014.
Image: OPIC Chief of Staff John Morton (left) and WRB Enterprises Chairman and CEO G. Robert Blanchard sign a $47m OPIC financing agreement. Photo: courtesy of The Overseas Private Investment Corporation.
