Big savings from Kremi’s power plant

In collaboration with Power Factor Technologies, a power engineering services company, Caribbean Cream has embarked on a major project to install a 630 kilowatt capacity Combined Heat & Power plant fueled by LNG at the company’s premises.

Caribbean Cream post big gains in profit in Q1.

The cost of the project is estimated to be just under US$2 million. The company expects to complete installation and commissioning of the power plant before the end of 2021. “While the company will remain connected to JPS, as to ensure sufficient power supply in the event of higher energy demand, we anticipate greater efficiency and increased market reach,’ a release from the company stated.
The company incurred utility costs of $204 million in the last financial year and is set to grow with more production and expanded cold storage space. Historical data indicates that water is approximately 10 percent of the utility bill; based on this, the electricity cost is currently around $180 million.
“One electricity unit for running machines and the use of heat from electrical generation to be used to heat water and oil to do pasteurization is the maximization of energy efficiency of the plan” an engineer who ICInsider.com spoke to states, the cost savings will be significant, with the estimated savings he stated could be in the region of two thirds which ICInsider.com puts at over $120 million per annum.
The company reported a profit of $101 million for the financial year to February this year, with the first quarter to May coming out at $54 million twice the 2020 first quarter profit.

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