CEO of the Fosrich Group, Cecil Foster, believes the manufacturing sector would reap massive benefits if broad scale use of renewable energy sources forms part of a new all-island electricity supply licence.
Foster was speaking with Nationwide News on Wednesday.
Energy Minister, Daryl Vaz on Tuesday announced that the government would not renew its licence with the Jamaica Public Service Company, JPS under its current terms.
The licence is set to expire in July 2027.
Minister Vaz says the government’s inability to add renewable energy sources to the national grid on a scale that would result in lower energy prices for consumers, played a role in its decision.
Foster says there have been massive improvements in renewable technology over recent years.
Cecil Foster, CEO of Fosrich.
