In all honesty something does not appear right with how this entire based load generating capacity was handled by the O.U.R.
After they announced the bid winner at their press briefing. I promptly got up and left as it appeared clear that the Jamaica Gleaner leak on who the winner was correct.
Now what I find amazing is how could such an unknown entity, comprised of a few unknowns in themselves be given the nod over Energy World International Limited the latter in itself an international player with several years of experience and successful project executions of this size and larger under its belt.
You may see their Corporate Profile on their website by clicking on the image of that page below.
Let’s take a quick glance at the winners of the 360 MW bid. The following quote is taken from the Jamaica Observer article titled;
Azurest Cambridge says it has fastest, cheapest electricity generation solution
By Keith Collister
The consortium includes Azurest Partners (a New York-based business strategy/capital raising firm focusing on emerging markets), Cambridge Project Development Corporation (a Florida-based engineering, energy and environmental consultancy focused on the Caribbean with projects in Cayman, Bahamas, and Barbados) and Inergix Corp, a Washington based energy sector-focused project management consultancy.
Source & read more: http://www.jamaicaobserver.com
Now I do not know if you see what I see. But one word jumps out at me more than anything else with this consortium. Consultancy, consultancy appeared two times associated with two of the three partners forming this consortium.
The other member of the consortium appears to be geared towards raising of capital and strategy. None of them demonstrate to me that they are experienced in executing projects of this magnitude based on the information available to me at this moment.
Now lets take a closer look, starting with the partners that form this consortium.
The info seen on their our services page points to much what is said about the company.
Cambridge Project Development Inc.
I see nothing on their web page section called Energy Infrastructure Projects showing anything remotely resembling a successful execution of a large MW size LNG power plant or any power plant regardless of energy fuel source.
To make matters worse their Project Portfolio Example section of their website shown below, also does not point to large scale power generation experience, but more of land fills. If they do have experience of this level.
I would not suppose a simple web page update by their web master would be an easy fix in providing such information.
Visiting the Inergix website also did not provide the kind of detail information in which I was looking for in regards to a company that has had years of experience rolling out projects of the size or close to 360 MW regardless of fuel source.
The above form in my opinion their principal partners. Not the same as technical partners, as such can be contracted out based on project requirements.
Their Technical Partners
Azurest Cambridge has partnered with Waller Marine to specially manufacture LNG ships of one-fifth of the size, or approximately 40,000 cubic metres.
Now the above company provides services for companies in the industry among other things.
It in itself is in no comparison at any measure to Energy World International. As such I would think they would enter their own bid to Build To Own (BTO).
Adding the other technical partner such as Wartsila only provides further technical assistance as was the case with other bid entrants.
The Frankenstein approach or piece meal approach to establish start ups that can win a bid over a way more knowledgeable, and credible company such as Energy World International in providing Jamaica’s new generating base load capacity.
Should be reserved for back water republics who cannot attract the best in the business.
This in my opinion, is simply a patty shop style operations from both the O.U.R and such type of entrants seeking to enter a key area in Jamaica’s energy infrastructure, whom do not posses a long and credible track record in executing and running such operations of this size.
Earlier I had written an article called ENERGY WORLD INTERNATIONAL LTD IS THE BEST OPTION FOR JAMAICA’S ENERGY ADDITIONAL BASE LOAD CAPACITY which provides the type of information I would think an investor, or an energy expert seeking the best of the best for a nations crucial energy back bone.
Let me put this into perspective. Do you think if the United States, well say the state of Florida were seeking to secure its base load generating capacity of say several hundred Mega Watts (MW) would choose the consortium above even with Florida links, over that of a reputable company with years of experience of rolling out large MW energy projects similar to Energy World International?
Especially when the major difference between the two was a price the price difference per kWh of US$0.01!
However, we all have to start somewhere in life. So the winner of the bid can only seek to deliver beyond expectations.
Now chances are if you are a local and reading this blog article, you are in the top 4% of Jamaica intellectual elite, political elite, academic elite or financial elite, or better yet qualify to get there some day.