First Look

DBJ and Fundación Chile partner to develop local ESCO industry

Panmedia Limited | 2012-09-20 00:00:00

The Development Bank of Jamaica and technology think tank Fundación Chile have partnered to strengthen the Bank’s capacity and that of its key stakeholders to build energy efficient businesses.

Fundación Chile successfully implemented Chile’s ESCO industry. ESCOs are energy service companies that design and develop energy efficiency solutions in buildings and offer energy project management services, energy auditing, design, turnkey installation, financing, marketing, maintenance and monitoring. 

Two Fundación Chile representatives were recently in Jamaica to hold meetings with SME’s, regulatory and other government agencies and prospective ESCOs. A Washington, D.C. representative of the Inter American Development Bank’s Multilateral Investment Fund also participated in the initial meetings.

The aim of this first phase of the 12-month project is to fully understand the requirements for the development of the local industry and includes meetings with the DBJ and other key stakeholders. 

The second and third phases will include workshops for SMEs, ESCOs, Government entities and banks to improve their technical and commercial capabilities.

The “Knowledge Transfer Project for the Promotion of an Energy Service Company Industry in Jamaica” is being implemented in association with the Development Bank of Jamaica (DBJ) at a total cost of US$183,714 (US $150,000.00 in an Inter-American Development Bank grant and US $33,714.00 from DBJ).  The project started in June 2012 and will run through July 2013.

“The DBJ is actively promoting green business practices to create a more energy efficient, competitive and profitable economy,” says the agency’s Energy Project Manager Christopher Brown. “This Knowledge Transfer Project is part of our mission. There is a critical need for energy efficiency in today’s economic and energy environment and ESCOs play an important role in achieving this goal,” says Brown.

Ana María Ruz and Luis Hinojosa are representing Fundación Chile; IDB’s representative is Heber Eduardo Freiria.

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