United States-based CMS Energy, the largest shareholder in Jamaica Private Power Company Limited (JPPC), announced yesterday that it had agreed to sell its 42 per cent stake.

The sale to Ashmore Energy International (AEI), also based in the U.S., which included its interests in GasAtacama of Chile, was valued at US$94 million.

The JPPC sale is expected to close by end of the year. JPPC currently operates the 63 megawatt, diesel-fueled power plant in Rockfort, Kingston, Jamaica, which began operation in 1997.