Jamaica Private Power Company Limited

In five separate guarantee contracts, MIGA insured a major portion of the equity investment in the construction and operation of a 60 MW diesel power plant in Jamaica. The project enterprise, Jamaican Private Power Company (JPPC), will be located near the Kingston harbor in Rockfort. Total investment in the project is estimated at $144 million. The equity portion accounts for $35.7 million, and the remainder will be financed by long-term debt provided by the Private Sector Energy Fund, which is partly funded by the IBRD and the Inter-American Development Bank. MIGA has issued insurance for the equity contributions of Hydra-Co Enterprises Inc.; International Energy Partners; USEC-Precursor Inc.; Rockfort Power Associates; and Energy Investors Funds II, L.P. MIGA guarantees of a combined amount of $50 million cover the risks of expropriation, currency transfer, and war and civil disturbance.