The management of the Jamaica Public Service Company, JPS, is meeting at this hour, to consider their next move, following news that the preferred bidder to build the 190-megawatt power plant in Old Harbour, St. Catherine, has begun bankruptcy proceedings.
News emerged yesterday that the Seville based entity, Abengoa, has taken steps to avoid one of the largest insolvencies in Spanish history.
The President and CEO of the JPS, Kelly Tomblin says the company will meet to discuss the developments, before holding further talks with Abengoa.
Ms. Tomblin says it’s too early to judge whether JPS will have to dump Abengoa and find a new partner to build the Old Harbour plant.
A member of the government’s Electricity Sector Enterprise Team, ESET, Professor Alvin Wint, believes the JPS must move swiftly to find a new entity to construct the power plant.
Ms. Tomblin says that recommendation will be considered seriously.