Monday 1 June, 2020

New Fortress Energy boss Wes Edens to speak at JIF 2018

Founder and Chairman of New Fortress Energy, Wes Edens.

Founder and Chairman of New Fortress Energy, Wes Edens.

Founder and Chairman of New Fortress Energy, Wes Edens will be one of the special guest speakers at this year’s Jamaica Investment Forum  (JIF) 2018.

JIF 2018 will be held at the Montego Bat Convention Centre between June 12 -14.

Wes Edens has made a significant investment in Jamaica’s energy sector and is looking to significantly bolster the country’s Liquefied Natural Gas capacity and infrastructure.

At a press briefing held at the J. Wray & Nephew Building in New Kingston, New Fortress Energy’s Vice President for Public Affairs, Verona Carter spoke on behalf of Edens.

Verona Carter (right), VP of Public Affairs at New Fortress Energy signs on as a sponsor for the Jamaica Investment Forum with JAMPRO President Diane Edwards (left).

Below is her address:

It is with great privilege that I represent our Founder and Chairman Wes Edens in standing firmly with JAMPRO to support our country’s 2030 goals and vision to drive economic development and growth.

As Wes would say, he founded New Fortress Energy over three years ago, with a simple mission: to invest in energy infrastructure solutions…… where they will be a catalyst to grow the economy and improve the environment. 

He envisioned New Fortress Energy in places where our projects would have a dramatic impact, and where our initial investment would lead to more investment opportunities.

Needless to say, this is all becoming a reality. it’s incredible to see what has happened in Jamaica with the introduction of natural gas – the energy landscape is drastically different than it was two years ago…  and because of investment and project like this… two years from now natural gas and renewable energy will power most of the island’s electricity. 

We are in the construction phase of building out our second Liquefied Natural Gas Power Plant in Old Habour in partnership with JPS to add another 190 MW to the national grid as well as our project in JAMALCO another 100 MW and convert industrial processes to Natural Gas. Building out these multimillion US dollar Liquefied Natural Gas infrastructure will not only provide enough storage for Jamaica’s transition to clean energy; but will further elevate Jamaica’s leadership to become a hub for the region.

This will translate into a gas economy,  more jobs, create a new next generation specialized workforce, more revenue for Jamaica and environmental gains.

When NFE’s projects are completed, the results of the Jamaican energy transformation will be remarkable.  By next year, 2019, Jamaica will benefit from:

  • Over US$1 billion in foreign direct investment in modern, reliable energy infrastructure
  • Over 400MW of natural gas power generation and over 200MW of renewables
  • At least 30% in fuel cost savings and the lowest cost of generation in the Caribbean

Wes Edens, our Founder and Chairman looks forward to joining the Prime Minister, Minister Shaw  and Madam President ( JAMPRO boss, Diane Edwards) to share this great Jamaican story with the international investor community, next month. Thank you so much for the opportunity.


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