Sagicor Group Jamaica will structure a $285 million sale-leaseback of the combined heat and power plant in Clarendon, Jamaica, owned by New Fortress Energy. The transaction will be the largest corporate financing in Jamaica’s history.
As anchor investors in the transaction, Sagicor Group Jamaica entities will invest $100 million in the transaction. Sagicor Investments Jamaica will act as the lead arranger for the balance of $185 million from local, regional and international investors. The transaction is being conducted in partnership with NFE South Power Holdings, a subsidiary of New Fortress Energy.
“As a government, we are encouraged by investment partnerships like this between New Fortress Energy and Jamalco,” said Daryl Vaz, Jamaica’s Minister of Science, Energy and Technology. “Long-term investment is a key asset in building energy resilience and energy security in keeping with the country’s National Development Plan, VISION 2030. We are very happy th
