Looks like Solar Power Farms are the best bet to get away
from the fluctuating Electricity prices from JPS Co (Jamaica Public Service
Company) and guarantee Export growth.
Wisynco Group, has
decided it's high time to push forward their plans to go solar as reported in
the article “Wisynco
To Commission Solar Farm”, published Wednesday September 23, 2015, The Jamaica Gleaner.
Wisynco Group are
distributors of beverages such as Wata and Cran Wata, energy drink
Boom, and its flagship soft drink, Bigga and maker of plastic party cups.
So it's fitting that queue the song Whats in My cup, by Richie
Loops.
The Solar Farm, billed as the largest of its size in Jamaica
at with a power output of 1 Megawatt, will costs the company JA$200 million.
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It'll be done in two (2) phases and will be built on an adjoining
five (5) acres of land near to their warehouse and distribution outlet in
Spanish Town, St Catherine, with 25% of the Solar panels being placed on the
buildings as well.
So who is the contractor being tasked to build out the
massive Solar Power plant? And why is Wisynco
Group in need of so much Solar Power?
Wisynco Group 1 MW
Solar Power Plant - British partnership with Padera Solar UK makes this
possible
The project is being undertaken by contractors Padero Solar Jamaica as these plans had
been advanced since December 2014 as reported in the article “WISYNCO
Going Big On Solar”, published Wednesday December 24, 2014 by Christopher
Serju, The Jamaica Gleaner.
Padero Solar Jamaica
is a subsidiary of the United Kingdom-based Padera Solar UK, with a penchant for
such constructions in the United Kingdom and Europe!
They're confident that the partnership will bear fruit both
for them as well as for Wisynco Group, to
quote Managing Director of Padera Solar Jamaica: “I think renewable energy in
the Caribbean is going to take off. Certainly, the price points would indicate
that. The potential is here, but you need the expertise, you need the buying
power to come here, and that's where we are. I think this is perfect time for
us”.
The agreement, which was signed back then at an official
signing ceremony at Friday December 19th 2015 at Lakes Pen, was hailed by the
British High Commissioner to Jamaica David Fitton as a vote of confidence in
the economic recovery, quote: “It's just generally a good news story that we're
happy to support. I think it's a great start (and) it may be the start of
something bigger for Jamaica. It's a sort of vote of confidence in the economy
here getting back on track and things improving. So all around it looks like
win-win. It's great.”
But with JPS Co Electricity Costs only just trending down
due to the continued drop in the price of Oil due to OPEC (Organization of
Petroleum Exporting Companies) beef with US fracking as explained in my blog article entitled
“US$50
per barrel Oil from OPEC – Why Ford Motors is predicting a bright future for
All-Electric Vehicles”.
So why invest in Solar if the cost of Electricity is still
falling and may even go lower once the price of Oil falls below US$40 per
barrel?
Wisynco Group
following Grace Kennedy - Why Stable Low-price Electricity for conquest of
Africa and Europe
Indeed he's right, as despite the harsh economic climate,
the Wisynco Group’s investment in Solar
Power indicates they are seeing a future export market for the Beverages and
need to ramp up production.
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After all, Beverages and plastic party cups are where the
money is being made as noted in the article “Wisynco
battles energy costs”, published Wednesday, June 13, 2012 BY PAUL RODGERS Business Editor,
The Jamaica Observer:
1. 50%
from Beverages
2. 70%
from domestic sales
That future market no doubt loves their Wata and Cran Wata,
energy drink Boom, and its flagship soft
drink, Bigga and are demanding more of the product. This may possibly be South
America, the US of A, Africa and India.
If so, then they would be following in the footsteps of
Grace Kennedy as I'd predicted back in March 2014 in my blog article entitled
“Wisynco
Group and Trade Winds Citrus to increase Sales and Launch new Products - Sales
Push to fall Flat as Back to Africa and East Asia to continue growing and
satisfy their Need for Speed”.
After all, not all Jamaicans can afford Fruit Juices, often
preferring to make their own. Plus Jamaicans population of 2.7 million cannot
fuel the level of expansion that Wisynco
Group needs. Export to these growing economies of South America, the US of
A, Africa and India with a taste for natural product would seem a more logical
decision to make.
Grace Kennedy is already expanding as their increased
exports to Africa and Europe will soon account for 50% of their earnings as
reported in the article “GK
set to earn half its revenues overseas”, published Wednesday, April 22,
2015 BY STEVEN JACKSON Business
reporter, The Jamaica Observer.
Africa and India will be an even bigger market, as their
populations are expected to grow the fastest as we head towards 9.7 billion
people by the year 2050 according to the UNDP (United Nations Population
Division) as reported in my blog article entitled
“United
Nations Population Division says 11.2 billion people by 2100 - Why Africa and
India Population exploding as Insect Meat is coming”.
Wisynco Group, eyeing
this very same expanding market, has decided that Solar Power will give them
the Electricity cost stability they need to be able to export to those markets.
To quote CEO of Wisynco
Group Limited, Andrew Mahfood, this is truly a bet for the future, quote:
“Our price of electricity this month will probably go (down from US 38-42
cents) to say, 24, US cents per kilowatt hour. When you factor in the costs of
insurance and interest expense that you have to put to finance the solar, we
expect our cost will be about US 16 cents for the first four and a half years.
Once that cost is paid back, your only real cost is annual maintenance, which
is minimal, and probably insurance on the panels and system. So it's a great
investment”.
Summary of the
Wisynco Group 1 Megawatt Solar Project - South America, the US of A, Africa and
India Export expansion
So the pattern is clear for Wisynco
Group for the next five (5) years.
The Wisynco Group is
making a push to export into South America, the US of A, Africa and India. In
order to do this they need stable power.
By building a 1 Megawatt Solar farm, their investing in a
future expanding World population that'll definitely be thirsty for Bottled
Water, drinks and those plastic cups to have their parties.
Folks, that’s what’s in their cup, Richie Loops style!
Here's the link:
Wisynco Group Twitter
Feed: @Wisynco
Wisynco Group
Instagram: @wisynco
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