The International Tracking Standard Foundation: Founder of I-REC (I-TRACK Foundation) Board has approved Jamaica for I-REC for electricity issuance. Approval came after the submission of a country report detailing various aspects of the electricity generation market, including a review of supporting policies, and confirmation of interest in introducing I-REC(E) to support further renewable energy development in the country.

I-REC(E) Issuer in Jamaica

The Green Certificate Company (GCC) has been approved as the I-REC(E) Issuer in Jamaica until a suitable local organization has been identified. GCC is already responsible for the issuance of I-REC(E) in many I-REC(E) countries around the world as a default Issuer.

Jamaica

Jamaica is situated in the Greater Antilles and is the third-largest island in the Caribbean. A mix of public and private entities characterizes Jamaica’s electricity sector. While there are several Independent Power Producers involved in electricity generation, Jamaica Public Service Company Limited (JPS) owns the transmission and distribution grid and acts as the single buyer.

The country provides a favorable enabling environment for further growth of the I-REC(E) instrument as the nation expands renewable electricity generation. The Government has set a new national target which aims for 50% of renewables in the grid by 2030, and through its Energy Ministry and the Generation Procurement Entity (GPE) is conducting a 100MW renewable tender that is expected to be awarded in 2024.

The I-TRACK Foundation recognizes the efforts made by Jamaica’s continued commitments to developing and implementing plans for renewable energy sources and access and is pleased to welcome Jamaica as an I-REC(E) issuing country.