Power company InterEnergy has partnered with North American firms Brookfield Renewable and Stonepeak to expand its existing business platform and accelerate its transition to a net-zero business.
Brookfield and Stonepeak will invest up to US$1 billion in InterEnergy over the next four years.
InterEnergy is the largest independent power generator in Jamaica, having acquired the Jamaica Energy Partners (JEP) and West Kingston Power Partners in 2015 and is responsible for almost 40 per cent of the country’s total base load capacity.
The company has a 30-year track record of providing clean energy solutions to Latin America and the Caribbean with holdings in the Dominican Republic, Panama, Chile, and Uruguay through its solar, wind, and natural gas assets.
InterEnergy plans to use the investment from Brookfield Renewable and Stonepeak to execute a more than 1,000 MW renewable development pipeline, augment the rollout of its services to the regions in which it operates, facilitate its energy transition, and grow the business sustainably for the long-term, it said in a media release.
Over the next 12 months, the company will invest in several new solar and wind power assets in the Dominican Republic, Panama, Puerto Rico and Uruguay by building on a renewable energy platform it started in 2011, the release said.
InterEnergy further plans to boost its investments in the expansion of Evergo, its electric mobility charging business, which operates in the Dominican Republic, Panama, Jamaica, and Mexico.
The intention, it said, is to position Evergo as the region’s largest charging network.
Speaking with Loop News regarding the expansion plans for Jamaica, Wayne Mckenzie, CEO of the JEP Group and Evergo Jamaica – JEP’s affiliate company, said, InterEnergy plans to build out another 200 charging stations over the next two years and will continue its overall investment thrust in Jamaica as soon as other opportunities open up.
“We will continue to support the government and the people in providing cost-effective solutions whilst greening the environment,” he said.
Evergo Jamaica recently commissioned a triangular Level 2 AC ‘semi-fast’ automobile charging station in Holywell.