Japan Archives - SolarBuzz Jamaica

JPS Still Creating Value For Korean Investor

June 17, 2013 Webmaster

Korea Electric Power Corporation (Kepco), which holds 40 per cent interest in the Jamaica Public Service Company (JPS) reported a 3.4 per cent increase in the book value of its investment in the utility to 303 billion won (US$267 million) in its March 2013 financials.

It indicates that JPS continues to provide value for its shareholders despite its March 2013 quarterly loss totalling some US$789,000, of which 40 per cent represented Kepco’s share of the loss.

Kepco is a subsidiary of Korea East-West Power.

The rise in the book value was caused by a 17-billion won (US$15-million) increase in ‘other comprehensive income‘ which represents certain gains not reflected in the profit and loss account. The financials posted to the US Securities and Exchange did not disclose the nature of the gains.

Kepco acquired JPS shares in 2011 for 301.9 billion won. Last financial year, the Korean company earned US$2 million in dividends from its JPS investment. The utility paid out a total of US$5 million in dividends last year.

For the three months ending March 2013, the company took no dividends, according to the financials.

The profitability of JPS, one of the largest companies in Jamaica, was affected by higher-than-usual finance costs at US$17 million for the quarter (US$11 million a year earlier) which nearly ate through the US$18 million of gross profit.

JPS’s other top owners are Japan’s Marubeni Corporation, at 40 per cent, and the Government of Jamaica, which holds 19.9 per cent.

The power utility currently earns US$1.14 billion (J$112b) of revenue annually as the monopoly distributor of electricity. It is capitalised at US$378.77 million (J$37.5b) while its net assets amount to US$838.46 million (J$83b).

business@gleanerjm.com

JPS Still Creating Value For Korean Investor

June 17, 2013 jrobinson

Korea Electric Power Corporation (Kepco), which holds 40 per cent interest in the Jamaica Public Service Company (JPS) reported a 3.4 per cent increase in the book value of its investment in the utility to 303 billion won (US$267 million) in its March 2013 financials.

It indicates that JPS continues to provide value for its shareholders despite its March 2013 quarterly loss totalling some US$789,000, of which 40 per cent represented Kepco’s share of the loss.

Kepco is a subsidiary of Korea East-West Power.

The rise in the book value was caused by a 17-billion won (US$15-million) increase in ‘other comprehensive income‘ which represents certain gains not reflected in the profit and loss account. The financials posted to the US Securities and Exchange did not disclose the nature of the gains.

Kepco acquired JPS shares in 2011 for 301.9 billion won. Last financial year, the Korean company earned US$2 million in dividends from its JPS investment. The utility paid out a total of US$5 million in dividends last year.

For the three months ending March 2013, the company took no dividends, according to the financials.

The profitability of JPS, one of the largest companies in Jamaica, was affected by higher-than-usual finance costs at US$17 million for the quarter (US$11 million a year earlier) which nearly ate through the US$18 million of gross profit.

JPS’s other top owners are Japan’s Marubeni Corporation, at 40 per cent, and the Government of Jamaica, which holds 19.9 per cent.

The power utility currently earns US$1.14 billion (J$112b) of revenue annually as the monopoly distributor of electricity. It is capitalised at US$378.77 million (J$37.5b) while its net assets amount to US$838.46 million (J$83b).

business@gleanerjm.com

What If We Never Run Out of Oil? New technology and a little-known energy source suggest that fossil fuels may not be finite. This would be a miracle

May 14, 2013 jrobinson

Ralph Wilson/AP

As the great

News Solar Energy

Solar Summit Slideshow: The PV Module Market

April 30, 2013 jrobinson

GTM Research Senior Analyst Shyam Mehta provides actionable intelligence for the solar module manufacturing industry.

ERIC WESOFF: APRIL 25, 2013

GTM Research Senior Analyst Shyam Mehta spoke at this week’s Solar Summit in Arizona on solar module manufacturing. Rather than preaching “big ideas [and] grand narratives [that] don’t always give you actionable intelligence,” Mehta tried to provide real-world data points and tried to “start from the ground.”

Here are a few of his points and the accompanying data.
The performance gap between p-type mono-crystalline silicon and multi-crystalline silicon is narrowing

Efficiency gains in conventional multi c-Si have accelerated and the gains have come “without significant increase in capex or material cost,” according to Mehta. Yet mono crystalline still commands a 4 cent to 8 cent per watt premium in sales price. Mehta suggests that the value proposition for p-type mono continues to deteriorate.

P-type might make sense in highly real estate-constrained Japan, but in the long term, Mehta sees n-type mono as a key to maintaining the efficiency advantage of mono. Panasonic, SunPower and Yingli are working on n-type cells.

Are 72-cell modules the future?

Mehta noted that 60-cell modules are the current standard but there are 72-cell, 96-cell, and 128-cell modules available. He said that 72-cell modules have gained significant market share because large modules can reduce balance-of-system costs by up to 7 cents per watt.

The 60-cell modules still have an advantage over larger modules in that they are more rigid, can be carried by one person, and more modules can be fit onto complicated rooftops.

Mehta suggests we will start to see increasing numbers of larger and different sized modules that are “highly segment-specific.”

Will module prices just keep dropping?

Spot pricing for polysilicon, as well as for cells and modules, has actually risen 5 percent to 15 percent this year. Is this an indication of a sustained price increase? Mehta points to some salient data from GTM research — 81 percent of ASP reduction over the last two years has come from margin evaporation and polysilicon. He notes that non-silicon materials such as glass and encapsulants have little cost-reduction potential remaining.

Long

Electricity JPS News

Combined Cycle Gas Turbine the way forward for new generation in Jamaica

April 17, 2013 Webmaster

This article has been submitted by the JPS.

As the Office of Utilities Regulation (OUR) evaluates proposals for the construction of the next generation of generating plants, the question of what is the best technology to deploy has ignited a public debate, as we saw with the recent article published in the Business Observer (Wednesday, April 3).

The two leading technologies that have emerged are the medium-speed reciprocating engines (diesel) (MSD) and the combined cycle gas turbines (CCGT). Both technologies are currently in operation in Jamaica and have some inherent advantages and disadvantages.

Total generation cost, flexibility of fuel options, ease and frequency of maintenance and environmental issues are all important considerations that will factor into the decision by the OUR in the technology choice. The analysis by JPS has concluded that the CCGT is the right generation solution for Jamaica at this time.

Policy & regulatory framework

The decision on the most appropriate technology for electricity generation is first framed by the policy objectives of both the Government and the OUR. The two most important objectives of the National Energy Policy and the regulator are:

1. A significant reduction in electricity prices; and

2. Fuel diversification.

The Government and the OUR have agreed that a policy of diversifying the mix of fuel used for electricity generation away from oil is the most effective in lowering electricity cost. JPS agrees with this policy approach and it is within that context it has conducted an evaluation of the available technologies to replace its existing capacity and prepare for sustainability and future growth in electricity demand.

Sector experience

JPS has been Jamaica’s electricity provider for 90 years and owns the largest block of power plants on the island. Its majority shareholders, Marubeni Corporation of Japan and Korea East-West Power Company together own and operate power plants (including diesels and combined cycle units) with an installed capacity of over 9,000 MW globally and using a full range of fuels: coal, gas, oil, hydro, wind, solar. No other entity in Jamaica and few others across the world can similarly claim this level of operational familiarity and experience with such a range of plants and fuel.

JPS drew on this knowledge, experience and policy objectives in preparing its proposal to the OUR and after careful analysis has concluded that the CCGT technology offers the best efficiency and flexibility option for generation expansion in Jamaica at this time.

Here’s why.

Cost of Energy

News Solar Energy

First Solar Shines as the Solar Industry Falters

April 12, 2013 Webmaster

Government JPS News

Think bigger, Minister Paulwell

February 7, 2013 Webmaster

Dear Editor,

While it is good that mining minister Philip Paulwell is pushing for Jamaica to start the process of developing its rare earth industry, I cannot help but wonder why is it that we seem forever stuck in this cycle of thinking inside the box.

PAULWELL … pushing for development of rare earth industry

Nothing is wrong with the attempt of the Government to extract rare earths from our red mud. Indeed, this effort of the government must be commended. However, if Jamaica is to truly develop, we have to start thinking outside of the box.

The primary focus of Minister Paulwell seems to be to get the project to a stage where we can export rare earths in commercial quantities. Again, nothing is wrong here. But why don’t we look at ways to develop our own industrial base with these rare earth minerals?

We are now hoping to export these minerals to Japan. What does Japan plan to do with these minerals? They plan to develop their own advanced electronic industries. Why can’t we also begin to think like this? Why must we always be willing to supply the minerals that others use to develop their own industries, while we suffer?

We did the same with bauxite, and now we are about to do the same with these rare earth minerals. When will we ever learn?

One of the reasons why there is such a global shortage of these rare earths is because China, the world’s largest exporter, is curtailing its exports. It is not just because they want to save what they have left for their own future generations

News

Fuel Farm Facility To Come For Ian Fleming Airport

January 14, 2013 jrobinson

The Caribbean Aviation Training Centre and Airports Authority of Jamaica hosted the Boscobel Jamaica Air Show, held at the Ian Fleming International Airport in April last year. – Winston Sill/Freelance Photographer

Alessandro Boyd, Gleaner Writer

As the Ian Fleming International Airport (IFIA) celebrated its second anniversary last week, the management has expressed delight at the growth experienced over the period. However, they concede that there is much room for improvement.

The airport that is situated in Boscobel, St Mary, can accommodate at least six international aircraft with a maximum wingspan of 55 feet and a maximum length of 65 feet, as well as three small aircraft all at the same time.

Alfred McDonald, senior director of commercial development and planning at the Airports Authority of Jamaica, has stated that traffic performance fell below the levels recorded in the previous year; however, a major initiative that they project will enable a significant up-tick in the use of IFIA by general aviation aircraft is near completion.

The number of aircraft arrivals at the IFIA has decreased in 2012 as the total number of arrivals was 1,515 compared to 1,569 in 2011.

“The work currently being done is to complete and commission a fuel-farm facility to ensure the supply of jet A1 fuel (which is currently available from a fuel bowser) and Avgas (which is not now readily available). The AAJ has continued it marketing efforts to attract additional traffic to the airport and increased promotion will be done on completion of the fuel farm,” Mcdonald told

News

Fuel Farm Facility To Come For Ian Fleming Airport

January 14, 2013 Webmaster

The Caribbean Aviation Training Centre and Airports Authority of Jamaica hosted the Boscobel Jamaica Air Show, held at the Ian Fleming International Airport in April last year. – Winston Sill/Freelance Photographer

Alessandro Boyd, Gleaner Writer

As the Ian Fleming International Airport (IFIA) celebrated its second anniversary last week, the management has expressed delight at the growth experienced over the period. However, they concede that there is much room for improvement.

The airport that is situated in Boscobel, St Mary, can accommodate at least six international aircraft with a maximum wingspan of 55 feet and a maximum length of 65 feet, as well as three small aircraft all at the same time.

Alfred McDonald, senior director of commercial development and planning at the Airports Authority of Jamaica, has stated that traffic performance fell below the levels recorded in the previous year; however, a major initiative that they project will enable a significant up-tick in the use of IFIA by general aviation aircraft is near completion.

The number of aircraft arrivals at the IFIA has decreased in 2012 as the total number of arrivals was 1,515 compared to 1,569 in 2011.

“The work currently being done is to complete and commission a fuel-farm facility to ensure the supply of jet A1 fuel (which is currently available from a fuel bowser) and Avgas (which is not now readily available). The AAJ has continued it marketing efforts to attract additional traffic to the airport and increased promotion will be done on completion of the fuel farm,” Mcdonald told

News

Nissan upgrades Leaf electric car, lowers price

November 21, 2012 jrobinson

TOKYO, Japan (AP)