Jamaica Vision 2030
Part 2: Public Transportation Sector Cannot Survive On One Foot – To Achieve Vision 2030 For The Public Transportation Sector A New Business Model Is Needed Now…NTAG
Part 2 Public Transportation Sector Cannot Survive On One Foot!
NTAG takes the firm position that the public transportation sector cannot survive on one foot! i.e. passenger fares. This as one means it will always need support to stand-up strong and independent.
NTAG’s view and a key feature of its Vision 2030 plan is that the public transportation sector can survive on two feet! One that combines the opportunity to derive income from passenger fares and courier services. According to NTAG multiple revenue streams will allow for a more profitable transportation sector, and relieve it of the need to frequently seek and require government support to stand-up strong and independent.
“A taxi owner is a business operator, so in applying for the fare increase the operators submitted their income and expenditure statements, which indicate they are operating at a loss. Bear in mind all our overhead expenses are pegged to the US dollar, and I don’t need to tell you about the devaluation of our dollar right now. Every single week we go to the pumps we pay an increase in fuel costs. We have to fit [fitness certification] our vehicles twice per year, unlike a private vehicle operator who only has to do it once per year. We have to do it twice to ensure our vehicle is fit and roadworthy to carry passengers. Our insurance costs triple or sometimes quadruple what private insurers pay. Where do we get the money from to pay for all these expenses? We have to service our vehicles regularly. Where do we get the money? It’s the fare that we charge, that is our income, that is our revenue.”
Sophia Campbell Head Route Taxi Association of Jamaica
Importantly, and a point which should be of significant interest to the Minister of Transport and the Minister of finance is NTAG’s argument that this will alleviate the frequent calls for fare increases. With the opportunity for increased income from multiple revenue streams from Rides and Delivery services, calls for fare increases can be tempered or even eliminated, removing the political pressure. This political pressure to fix and control fares is at the core of the problem plaguing the sector NTAG argues.
“Meanwhile, taxi operators, who it is said are providing the subsidy that the Government fails to in order to better meet the demands of its creditors, are clamouring for a fare increase. Enter Uber and the competition has tightened. But the Government is in a deep dark hole of policy failure. Any massive increase in bus and taxi fares will bring undue additional hardships on poor people, cause the “independent” Bank of Jamaica (BOJ) to miss its inflation target, be damaging to the economy, could result in social unrest, and could be politically disastrous. Taxi drivers knowing that badness pays are flexing their muscles.”
Audley Rodriques has served as Jamaican ambassador to South Africa, Kuwait, and Venezuela.
https://www.jamaicaobserver.com/columns/inequality-and-the-public-transportation-system/
The introduction of technology to better manage underutilized space and capacity to increase income and efficiency can yield significant national and individual financial benefits, resulting in lower prices to the Jamaican people the NTAG plan argues.
The NTAG plan also points out that the public transportation sector can play a far more significant and strategic role in the economic and commercial development of Jamaica, and is grossly underutilised asset. The public transportation sector, NTAG argues, can accelerate economic development by offering same day delivery to homes and places of business, allowing brick and mortar stores and ecommerce websites to offer this service to their customers. This has the effect of reducing the cost of delivery, resulting in lower prices of goods and services.
The NTAG 2030 National Transportation Business Model seeks to incorporate and integrate into a national logistics transportation and delivery solution.
The public transportation sector can be easily integrated into what NTAG describes as the RedPlate National Logistics Transportation and Delivery Solution, capitalizing on the vast amounts of underutilized space and capacity in both public transportation and commercial vehicles, allowing for more diverse income streams, that are more profitable than even carrying passengers.
The proposed RedPlate National Logistics Transportation and Delivery Solution incorporates all forms of public and commercial transportation including Rural Stage Carriages/Urban Stage Carriages/ Route Taxis/ Express Carriages/ Hackney / Contract Carriages & Commercial Carriage (green plates).
The RedPlate National Logistics Transportation and Delivery Solution will be operating through Five (5) Main Connection Hubs located in Kingston, Ocho Rios, Mandeville, Savanna-La-Mar and Montego Bay with daily time scheduled routes. Members of the public and business owners operating online or offline will have the opportunity to offer same delivery to anywhere in the island based on set departure and estimated arrival times.
The service will also operate through strategic pickup and drop off locations such as Service Stations on main roads, which may be farther from town centers, providing other RedPlate Rides with connecting revenue opportunities.
According to NTAG multiple revenue streams will allow for a more profitable transportation sector, and relieve it of the need to frequently seek and require government support to stand-up strong and independent.
The National Transportation Alliance Group Limited (NTAG) is already in advanced discussions with the Transport Authority for a special operating license to allow both Hackney and Route taxis to formally and legally carry third party packages and cargo. This is not currently allowed under the current licence arrangements.
Access to these updated or new licensees to allow for this multiple revenue streams, supported by changes in Government policy will be required immediately.
Part 3: The Key Stakeholders Required To Make This Plan Work
Businessuite Markets
Businessuite Cover Story: Wigton’s Bold Bet – Could Tropical Battery Be the Key to Its Caribbean Clean Energy Empire?
This is exactly the model that global energy giants are pursuing: controlling the entire clean energy value chain to drive long-term sustainable revenues.
Mr. Gary Barrow, CD
Chief Executive Officer Wigton Energy Limited (WIG)
In a bold move set to redefine Jamaica’s energy and electric vehicle (EV) landscape, Wigton Energy Limited (WIG) has taken control of Flash Holdings Limited, raising its stake to 51 per cent. This acquisition, while strategic in accelerating the roll-out of EVs under subsidiary Flash Motors Company Limited (FMCL), also signals a deeper ambition: Wigton’s emergence as the Caribbean’s leading multi-solution renewable energy powerhouse.
Yet behind the headlines of Wigton’s pivot from its windfarm legacy lies an even more intriguing opportunity – one involving Tropical Battery Company Limited, the decades-old Jamaican battery and solar energy firm currently in the throes of a J$1.79-billion (US$11.09-million) secondary share offering.
The offering, extended for a second time to July 4, is designed to reduce debt and graduate the company from the Junior Market to the Main Market of the Jamaica Stock Exchange – a critical step in Tropical Battery’s quest to list on Nasdaq within the next three to five years.
The question on the minds of investors and analysts is simple: Could Tropical Battery become Wigton’s next big strategic play?
From Wind to Multi-Solution Renewables
Founded as Wigton Windfarm, the company rebranded in late 2024 to Wigton Energy Limited, reflecting a strategic pivot towards diversified clean energy solutions. Alongside wind, Wigton is now advancing solar photovoltaic (PV) projects, battery storage systems, and EV infrastructure – creating a full-suite renewable energy model.
The acquisition of Flash Holdings is a testament to this vision. Wigton’s initial 21 per cent stake, valued at J$112 million (just over 1 per cent of its total assets), was symbolic – an entry point into the EV market. The June 2025 expansion to majority control demonstrates serious intent to scale electric mobility, not only distributing EVs but enabling the charging infrastructure needed to drive adoption across Jamaica and, ultimately, the region.
Tropical Battery’s Debt, Expansion, and Nasdaq Dreams
Alexander Melville Chief Executive Officer Tropical Battery Company Limited
Meanwhile, Tropical Battery is fighting its own battles. Founded in 1950, the company has evolved into an integrated battery distributor, solar energy provider, and EV solutions player, with strategic acquisitions in Silicon Valley (Rose Electronics) and the Dominican Republic (Kaya Energy).
Yet its rapid expansion has come at a cost. Tropical is carrying significant debt, including a US$9.5-million bridge loan from CIBC Caribbean Bank and a maturing J$300-million bond. The current APO seeks to raise at least J$1 billion to stabilise its balance sheet, improve working capital, and clear the path to Main Market graduation and Nasdaq listing.
But with two extensions announced in quick succession, questions loom about investor appetite. Institutional investors have reportedly requested more time for internal processes – a potential window for strategic partners like Wigton Energy to step in.
By participating significantly in Tropical Battery’s APO, Wigton could secure a meaningful minority stake – potentially 10-20 per cent – positioning itself on Tropical’s board and integrating the firm’s battery manufacturing and distribution network into Wigton’s renewable energy and EV ecosystem.
Why This Alliance Makes Sense
On paper, Wigton and Tropical Battery are perfectly complementary.
| Wigton Energy | Tropical Battery |
| Wind, solar, BESS, EV distribution | Batteries, solar, EV services |
| Local grid expertise, renewable projects | US and regional market access, battery manufacturing |
| Expansion capital and project development capability | Need for strategic investor to reduce debt and scale |
A Playbook for Execution
Strategic Capital Injection: Wigton could anchor Tropical’s APO, sending a strong market signal and stabilising Tropical’s financial base.
Board Influence & Governance: Securing a board seat would align Tropical’s expansion with Wigton’s regional clean energy goals.
Joint Ventures for EV Charging: Tropical’s battery and solar solutions combined with Wigton’s utility-scale renewable projects could fast-track the installation of EV charging stations powered by clean energy – a win-win for emissions goals and revenue streams.
BESS & Grid Services: As Jamaica’s grid modernises, battery energy storage systems (BESS) will be critical for stabilisation and integration of renewables. Wigton and Tropical are both invested in this space, but collaboration could enable larger projects with better financing terms and risk sharing.
Nasdaq Roadmap: Tropical’s ambitions to list on Nasdaq could be strengthened by Wigton’s institutional backing, while Wigton benefits from the valuation uplift of an equity partner expanding into North America.
Risks and Realities
Of course, execution risks remain. Tropical’s debt burden must be managed carefully to avoid operational strain. Cultural and operational integration will require disciplined governance structures. For Wigton, investing in a non-controlling stake carries the challenge of influencing strategy without direct operational control – a delicate dance that only strong board-level partnerships can navigate.
The Bigger Picture
Ultimately, the strategic logic is compelling. Together, Wigton and Tropical Battery could create a vertically integrated clean energy and EV solutions group with:
✅ Renewable generation capacity
✅ Battery manufacturing and storage solutions
✅ EV distribution and charging infrastructure
✅ Access to regional and North American markets
This is exactly the model that global energy giants are pursuing: controlling the entire clean energy value chain to drive long-term sustainable revenues.
“The Caribbean Tesla?”
As the Caribbean accelerates its renewable energy transition, the region needs companies with the vision, capital, and integration capability to deliver clean energy solutions at scale. Wigton’s rebranding is more than cosmetic; it is a bet on becoming the Tesla of the Caribbean – not only in EVs, but in energy storage, solar, and grid services.
By partnering with Tropical Battery, Wigton could create an ecosystem that powers Jamaica’s homes, businesses, and vehicles with clean, resilient energy – a transformative step towards the island’s 50 per cent renewable energy target by 2030.
And perhaps, in the years ahead, when investors search for the Caribbean’s first clean energy unicorn, it will be this strategic alliance they point to as the moment the region’s energy future changed forever.
Foot Notes
Company Overviews & Recent Moves
Wigton Energy Limited (WIG)
- Rebranded from Wigton Windfarm in November 2024 to reflect its pivot toward diversified renewables—wind, solar, batteries, and now EVs.
- Broadening into solar PV (won ~50 MW project in 2024), and developing battery storage alongside EV infrastructure.
- June 2025: boosted its stake in EV distributor Flash Holdings from 21% to 51%, aiming to fast‑track EV rollout via Flash Motors (FMCL). Wigton also provided corporate guarantees for FMCL loans
Tropical Battery Company Limited
- Jamaica-based battery and solar energy firm, listed in 2020; now distributes Mac Battery brand, solar solutions, and even sells Tesla vehicles
- Acquired Silicon Valley-based Rose Electronics and Dominican solar firm Kaya Energy; revenue doubled in late 2024 but profit fell due to debt
- Currently launching a J$1.79 billion (~US$11M) secondary share offering—now closing July 4—aimed at trimming debt and enabling migration from JSE Junior to Main Market, with Nasdaq aspirations in 3–5 years
Business Model Synergies
| Area | Wigton Energy | Tropical Battery |
| Core Offering | Wind, PV, storage, EV distribution | Automotive batteries, solar, energy storage |
| Geographic Reach | Jamaica (grid), regional expansion | Jamaica, US (Silicon Valley), Dominican Rep. |
| Debt/Capital | Asset-based growth, moderate debt | Significant debt load, seeking equity raise |
| Strategic Goals | Full-suite renewables + EV market | Debt elimination, market upgrade, Nasdaq prep |
There’s a strong alignment in battery energy storage systems (BESS) and EV charging infrastructure. Tropical’s access to the US market and grid storage tech aligns with Wigton’s ambition to become a “multi-solution renewable provider.”
Could Tropical Battery Be an Acquisition or Investment Target?
Acquisition—Full or Partial
Full acquisition improbable: Tropical’s valuation (~US$11M) and upcoming debt clearance means it’s not distressed enough to sell entire control cheaply.
Strategic merger: WIG could acquire a controlling minority stake—e.g., buying current shareholders’ stock and participating in the APO. This could integrate Tropical’s distribution and manufacturing capacity into Wigton’s ecosystem.
Participating in APO
With WIG’s guidance, investing in the July 4 APO (minimum J$1B) positions its shareholding favorable—potentially 10–20%+ depending on uptake.
This gives Wigton influence in Tropical’s board and strategic decisions without full takeover.
Strategic Alliance Framework
Coordinated capital raise: Wigton leads or coordinates participation in the APO, signalling stability and boosting investor confidence.
Cross‑shareholding : Tropical could take a stake in FSMC (Flash Motors), aligning EV ambitions and creating a shared EV–battery value chain.
Joint BESS & EV infrastructure roll‑out: Co-develop charging & storage solutions across WIG’s solar/Wind sites and Tropical’s commercial distribution footprint.
Regional market expansion: Tropical supports EV battery servicing and solar projects from its Jamaica/US base, while Wigton provides local grid integration and regulatory experience.
IPO/Nasdaq roadmap: Wigton’s participation helps Tropical graduate to JSE Main then aim for Nasdaq—giving Wigton a stake in a growth IPO narrative.
How This Can Be Executed
Due diligence: Wigton assesses Tropical’s balance sheet post-IPO, tech integration capabilities (e.g., Silicon Valley assets), and debt reduction efficacy.
Negotiation: Restructure APO conditions to secure stakes with board representation.
Legal integration: Form joint ventures for EV charging deployments and BESS installations, sharing risk and scaling faster.
Capital partnership: Align Tropical’s Nasdaq ambitions with Wigton’s institutional backing—opening a new funding channel.
Summary
While a full takeover of Tropical Battery isn’t likely and may not be necessary, strategic participation in its APO offers Wigton:
- Entry into battery manufacturing & EV services.
- A way into the US through Silicon Valley tech.
- Leverage Solar/BESS synergy.
- A shot at future upside via Tropical’s equity if it lists on Nasdaq.
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