OPIC and Content Solar Ltd., a wholly-owned subsidiary of WRB Enterprises, has entered in to a financial agreement to develop 40MW of grid-connected solar PV facility in Clarendon, Jamaica through a US$47 million investment. The total cost of the project will excess US$60 million.

“Content Solar will be the largest project of its kind in the Caribbean, delivering clean and reliable renewable energy at a stable price to Jamaica for decades to come,” said Robert Blanchard, Chairman and CEO of Content Solar. “Content Solar will power more than 20,000 Jamaican homes, displacing more than 3 million gallons of fossil fuel currently burned each year.”

Chairman and CEO G. Robert Blanchard signed the agreement alongside OPIC Chief of Staff John Morton, with Jamaican Minister of Energy Phillip Paulwell and U.S. Ambassador to Jamaica Luis G. Moreno officiating the ceremony.

In addition, the Content Solar project becomes the second OPIC-financed project in support of the Caribbean Energy Security Initiative, which is a U.S. Government effort announced by Vice President Joseph Biden in June, 2014. Through all of this, the project will work to provide reliable, renewable energy to the nation of Jamaica while decreasing its huge dependence on imported oil from which over 90% of its electricity is currently produced.