Just thought I would annoy you Shamish with another article from Jamacia re EWC/EWI Power play.
ENERGY WORLD INTERNATIONAL LTD IS THE BEST OPTION FOR JAMAICA’S ENERGY ADDITIONAL BASE LOAD CAPACITY September 13, 2013 ~ Rodger McKenzie As the energy Minister Phillip Paulwell seeks to solve the problem of Jamaica’s energy needs.
My observation from the list of possible winners of the bid proposals for 360MW additional base load capacity for the national grid. It is clear to me that the late entrant that was allowed to enter the bid process is the best option and a wise move.
Below is a list of the bidders: Azurest Partners-Cambridge Project Development Joint Venture 300 MW Combined Cycle Heavy Fuel Oil and Natural Gas US$690,000,000
Energise Jamaica Limited (Armourview Holdings Limited et al) 360 MW Dual Fuel Flexi-cycle Reciprocating Power Generation Plant Heavy Fuel Oil and Natural Gas US$586,734,000
Optimal Energy Limited 360 MW Medium Speed Diesel Dual Fuel Combined Cycle Power Plant (Base Bid) Heavy Fuel Oil and Natural Gas US$559,070,385
Optimal Energy Limited 360 MW Medium Speed Diesel Dual Fuel Combined Cycle Power Plant (Alternative Bid) Heavy Fuel Oil and Natural Gas US$571,939,515
Energy World International Limited 478 MW Combined Cycle Power Plant Natural Gas US$737,000,000
Source: http://www.our.org.jm
What is funny is how hypocritical the Jamaican business culture can be (Not implying any of the above are as such). As in Jamaica when a local company or individual(s) comes up with a great idea, and says hey invest in this project. The market demand is there, all the numbers are right.
The clowns say/ask;
What experience do you have in this sector?
Have you ever done this before?
How many years of experience do you have?
What is your track record in this space?
When the answer is no towards majority of the questions above. They say sorry we cannot invest.
So why should local entities who do not have experience in the energy sector at this level be taken seriously or even win such a bid?
Why are they not able to truly show the public immediately where the nearly or over half a billion USD will come from to roll out the project? Show me the money!
This is not a patty shop business. The local bidders in my opinion are simply larger versions of patty shop operators. This is the big league and for the big players.
Simply put, like many local football players and local football coaches. You are not ready in my opinion for projects of this magnitude.
Well it is clear to any fool including the OUR. That in my opinion that the highest bidder is the most experienced. As only the best of the best would place their bid cost higher than all others.
As they know clearly the true cost in CAPEX and OPEX having several years of experience, and not seeking to under capitalize their bid.
One can clearly look at the screen shots from their website below and see why this company in my opinion is the best option.
Not sure if the energy minister had anything to do with highlighting Jamaica’s opportunity to them. But if he did, then this is definitely a big plus in his column.
EWC Price at posting:
46.5¢ Sentiment: ST Buy Disclosure: Held
