By Durrant Pate/Contributor

In seeking to diversify its revenue stream, Wigton Energy, which supplies wind energy to the national grid, is currently building out its renewable services to the private sector.

To this end, Wigton has already landed two projects, concluding one of them, which is the installation and commissioning of a solar photovoltaic system for Jamaica Inn Limited — a small, elegantly timeless resort located in Ocho Rios.  

Wigton has refined its strategic intent to primarily focus on renewable energy at the utility and commercial/industrial levels. As the company continues the development of its business offering in relation to its commercial/industrial service delivery, it has commenced the implementation of a solar photovoltaic system for cigarette company Carreras Limited.

In addition, the Jamaican publicly listed energy renewable company is actively seeking investment opportunities in clean technologies, driven by its commitment to creating a sustainable energy future in Jamaica with a view to enhance shareholder value and profitability.

Charting for the future

In giving a positive outlook for the future, Board Chairman Dennis Chung and Director Dan Theoc have disclosed that Wigton is concentrating on five strategic pillars to achieve sustained profitable growth, which are being brilliant at the basics, growth through diversification, agile work culture, brand repositioning, and strategic partnerships. 

They pointed to ongoing discussions with key stakeholders, which are centred on the repowering of Wigton Phase I located in Rose Hill, Manchester. There have been ongoing negotiations with key stakeholders to replace the fully depreciated Wigton Phase I equipment with new equipment, as was previously disclosed.

This initiative follows the Cabinet’s approval of a new 20-year generation licence for Wigton Phase I and is propelled by the fact that Wigton is one of two entities pre-awarded by the Generation Procurement Entity (GPE) in their September 2023 tender for additional energy to the national grid. The decision of the GPE as to the final award is now being awaited. 

According to the directors, “Wigton continues its pursuit for investment opportunities in the green energy sector both independently and in collaboration with its partners, reiterating its dedication to delivering energy solutions in wind, solar, and other renewable technologies.”

Wigton remains committed to improving operational efficiency and seeking investment opportunities in the interest of maximizing returns to our shareholders.