IC Power closed on June 2nd the acquisition of Jamaica Private Power Company (JPPC) according to a share purchase agreement signed last March between Inkia Energy Ltd. (IC Power´s investment vehicle in Latin America) and AEI Power Ltd. (Ashmore Energy International Power Limited), its participation of this important company located in Kingston and engaged in the production and sale of energy in Jamaica.
Before this transaction IC Power already owned 15.6% of the shares of JPPC, a thermal power generator that owns and operates a 60 MW plant located in Kingston. The deal allows IC power to increase to 100% its stake in JPPC.
This transaction is part of an acquisition process that includes four other companies located in Nicaragua, also acquired by IC Power from AEI at the end of the first quarter of 2014.
JPPC owns and operates two 30MW slow speed diesel generation units, two heat recovery steam generators (HRSG), and a 4.2 MW steam turbine generator at a plant located in Kingston, Jamaica. The plant achieved Commercial Operations on January 6, 1998.
This transaction is in line with IC Power´s strategic plan to become a major player in Central America, the Caribbean and South America. Other recent acquisitions and investments commitments include Chile (Central Colmito, 58 MW), Peru (the 600 MW Nodo Energetico del Sur and Las Flores 193 MW Plant) and Colombia (Surpetroil and Surenergy).The installed capacity of IC Power considering the projects under construction reaches 5300 MW approximately.