Assistance in the Due Diligence of an ESCO Project in Jamaica

The Caribbean Basin Sustainable Energy Fund (CABEF) needed assistance to evaluate an energy efficiency and renewable energy project that it financed in Jamaica to be implemented under an energy performance contract. The project included measures related to ventilation, air conditioning, solar photovoltaic (PV) panels, and decentralized liquid natural gas (LNG) electricity generation. Econoler thus assisted in proposing a strategy for energy performance contracting, reviewing contract documents, and formulating a measurement and verification (M&V) strategy.

Econoler conducted due diligence on an energy efficiency and renewable energy project developed by the ESCO Energy Dynamics Ltd. This project included measures related to ventilation, air conditioning, solar PV panels and decentralized LNG electricity generation. The due diligence consisted of:

• Evaluating the general feasibility of the project;
• Proposing a financing and energy performance contracting scheme for the project;
• Completely revising the energy performance contract and adjusting it in accordance with good practices;
• Reviewing other proposed ESCO contractual documents;
• Proposing an energy savings measurement and verification (M&V) strategy aligned with international best practices;
• Supervising the establishment of an energy consumption baseline.  

  Econoler thus contributed to improving the robustness of the EPC offer of Energy Dynamics Ltd and helped the CABEF lower the risk of financing the project.