Korea East-West Power signs $12.5 mn technical assistance contract in Jamaica
Korea East-West Power’s division head Jo Chang-sup, who also serves as JPS director, left, and JPS President and CEO Emanuel DaRosa pose for a photo.
Korea East-West Power announced on Tuesday that it has signed a $12.5 million contract with Jamaica Public Service Company (JPS) to provide technical assistance in power generation, transmission and distribution.
JPS, the island`s sole distributor of electricity, monopolizes power transmission and distribution facilities in Jamaica and is responsible for approximately 75 percent (644.52 MW) of the total power generating capacity.
Korea East-West Power, a unit of state utility firm KEPCO, acquired 40 percent in JPS from Japanese-based Marubeni Corporation in July 2011, becoming the first Korean operator of an overseas utility company with integrated services for power generation, transmission and distribution.
Under the five-year contract, Korea East-West Power will provide a comprehensive consulting service on the overall power grid operation, including the establishment of a performance monitoring system based on its power generation operation and maintenance system, management of aged facilities and the diagnosis of electricity systems.
The company will also provide technical assistance related to power grid systems and professional training in cooperation with experts from state-run KEPCO and its research organization.
The company said it will build on its business momentum in Jamaica and other areas of the Caribbean with its latest achievements.
In March, Korea East-West Power successfully completed the construction of Jamaica`s first gas combined-cycle power plant.