Fortis Bags 39.7 MW Project in Grand Cayman

Fortis Inc. announced that the Electricity Regulatory Authority has selected the proposal of Caribbean Utilities Company, Ltd., the Corporation's operating utility on Grand Cayman, Cayman Islands, to build new generation capacity in response to the ERA's request for proposals issued on January 31, 2014. 

As a result, Caribbean Utilities will develop and operate a new 39.7‑megawatt diesel power plant, including a 2.7-MW waste heat recovery steam turbine.  The project cost is estimated at US$85 million and the plant will be commissioned no later than June 2016.
 
Caribbean Utilities provides electricity to Grand Cayman, Cayman Islands, under an Electricity Generation Licence expiring in 2029 and an exclusive Electricity Transmission and Distribution Licence expiring in 2028. Further information is available at www.cuc-cayman.com.  Fortis (FTS.TO) holds an approximate 60% controlling ownership interest in Caribbean Utilities.