Washington – U.S. Secretary of the Treasury Steven T. Mnuchin and Jamaican Prime Minister Andrew Holness today signed an Energy Framework to foster cooperation on energy and infrastructure investment in Jamaica. Secretary Mnuchin and Prime Minister Holness signed the Framework to Strengthen Infrastructure Investment and Energy Cooperation at the U.S. Department of the Treasury. The Framework is part of a U.S. initiative called America Crece, or the Americas Grow.
“This initiative marks a major advancement for the U.S. and Jamaica that will yield additional investment and export opportunities for both countries. Additionally, the Framework provides a foundation for Jamaica to play a pivotal role in regional Caribbean energy growth, integration, and security,” said Secretary Mnuchin. “The agreement will help catalyze private sector capital for investments across the energy value chain, including upstream energy production, power generation, transmission, and distribution.”
Under the Framework, the two countries will cooperate to:
- Further diversify Jamaica’s sources of energy to power the country’s economic growth;
- Integrate cleaner energy sources, including natural gas and renewable energy, furthering Jamaica’s environmental goals and making Jamaica’s economy more competitive;
- Accelerate Jamaica’s adoption of innovative power technologies, including renewables and related micro-, mini-grid and battery storage systems;
- Increase Jamaica’s energy resiliency through energy source integration and catalyzing investment in rural areas and at critical infrastructure facilities; and
- Enhance the reliability, resilience, and efficiency of the national energy systems.