Jamaica Public Service Company Limited (JPS) has advised that Abu Dhabi National Energy Company (TAQA) has announced its decision to withdraw from the Marubeni TAQA Caribbean partnership in the first quarter of 2011. With the withdrawal of TAQA, Marubeni will continue as majority shareholder in JPS until a new investment partner is identified. Marubeni remains committed to the continued growth and development of JPS.
TAQA’s departure will not affect the operations of JPS, as TAQA was not directly involved in the day-to-day affairs of the organization. JPS has a competent management team, which will continue unchanged.
