PM pushes for nuclear energy adoption to fuel Jamaica’s growth

Prime Minister Andre Holness says Jamaica must position itself to tap opportunities in nuclear energy in order to drive economic diversification and growth.

Speaking at the Jamaica Stock Exchange’s 20^th Regional Investments and Capital Markets Conference at the Jamaica Pegasus Hotel in Kingston earlier this week, the Prime Minister noted that the cost of energy continues to stymie areas such as manufacturing, one of the traditional growth pillars of the country.

“We are a service-based economy largely because the cost of energy is high. We have to figure out how to get the cost of energy lower to build out more manufacturing-based industries,” the prime minister said.

He said the country must prepare to adopt emerging technologies, including small modular nuclear reactors (SMRs).

“Some people hear me talk about nuclear and ask, ‘why are we thinking about this?’ But we must think differently,” the prime minister said. “SMRs are receiving greater interest and investment globally, and we need to prepare ourselves to adopt this technology when the time comes.”

Given that nuclear technology is still being developed, Holness stressed the importance of building human resource capacity over the next 10 to 20 years.

 “Let us not think small and think that we can’t do it. We have [had] a small nuclear reactor at the University of the West Indies (UWI) for over 30 years and we are building a small nucleus of scientists who can manage it,” he said.

“If we are really going to think of Jamaica as an economic powerhouse, we have to solve the energy issue. We have the capabilities…we have to start to think in that regard,” Holness said, conceding there are challenges to the option.

But: “Let us not close the door on it. Let us develop the capacity and put ourselves in a position that, should the technology become feasible, we are at the head of the line,” he said.

Steps have already been taken to forge partnerships with Canada to have locals trained, he said.