Wigton Windfarm has removed the 10 per cent shareholding limitation, which is prescribed in the company’s articles of incorporation under its entrenched articles (limitations on shareholdings) provision.

This provision provides for the special rights redeemable preference share of J$1.00 held by the Accountant General of Jamaica and the 10 per cent shareholding limit to cease to have any effect on the expiration of the entrenchment period.  

This provision will allow for any individual shareholder to own over 10% share equity in the Jamaican-based energy renewable company. 

The entrenchment period stated earlier is five years from April 17, 2019, when the application list in the initial public offer launched by the Government, was opened.

Accordingly, the special share held by the Accountant General of Jamaica has been surrendered under the articles of incorporation with the 10 per cent shareholding limit ceasing to apply on April 17, 2024.

The 62.7-megawatt wind farm, based at Rose Hill in the parish of Manchester, stands as one of the largest renewable energy facilities in the English-speaking Caribbean.