Paradise Park PV reaches financial close with DFI backing

Neoen, Rekamniar Frontier Ventures and MPC Caribbean Clean Energy Fund have reached financial close on a DFI-backed project financing for the 51MW Paradise Park PV project in Jamaica. Proparco and FMO are senior lenders to the scheme, which has a total investment amount of $64 million. Jamaica Public Service Company is offtaker for the project via a 20-year PPA priced at $85 per MWh. Construction has already begun and commissioning is expected in the first half of 2019.