E-Power

E-Power is a private company that owns and operates a state-of-the art 30-megawatt heavy fuel oil power station located in Drouillard, Cite Soleil. It produces and sells electricity to the state-owned utility, Electricité d'Haiti (EDH), under a 15-year Power Purchase Agreement awarded competitively following an international request for proposal supervised by the IDB and the World Bank. It is the first Haitian independent power producer to receive international funding. Through operational efficiency and fuel savings, the project saves US $20-30 million every year to the Haitian economy : an economic return in excess of 40% compared to hard investment costs of around US $60 million. Local and international economists, financial analysts and investors all agree: this US$ 59 million project will play an important role in Haiti's recovery as it creates jobs, stimulates local investments and develops infrastructure that will improve the quality of life of the Haitian people while boosting economic development. "The impact of this investment on the local energy sector and economy are expected to be very positive, especially for the small and medium-sized enterprises. - Jurgen Rigterink, Chief Investment Officer of FMO.