"I Support it," says E. Jay Saunders, Minister of Energy, Innovation and Technology, in response to Fortis TCI being SOLD off to private investor group rebranded as Pelican Energy.
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Vision Ridge Partners (“Vision Ridge”), a global sustainable real assets investor, today announced that funds managed by Vision Ridge have acquired FortisTCI Ltd. (the “Company”), the electricity utility company serving the Turks and Caicos Islands (“TCI”).
Pelican Energy TCI is branded the NEW public electricity supplier in Turks and Caicos, serving the islands of Providenciales, North Caicos, Middle Caicos, South Caicos, East Caicos, Grand Turk, Salt Cay, and adjacent Cays. The company has over 18,500 customers, an aggregate thermal generating capacity of approximately 101 megawatts, and 4 megawatts of grid-tied rooftop distributed solar PV.
Regarded as one of the most reliable electricity providers in the Caribbean, the company has maintained a 99.97 % reliability index over the past three years. Pelican Energy TCI is a subsidiary of Vision Ridge Partners, a global sustainable real assets investor.
Pelican Energy TCI operates under the vision: Transforming Energy in the Turks and Caicos Islands.
The Team
Pelican Energy TCI is headquartered in Providenciales and operates with 172 employees based throughout its service territory. Pelican Energy TCI is committed to employing qualified local talent and has a staff complement that consists of approximately 88% Turks and Caicos Islanders. Pelican Energy TCI is led locally by President and CEO Ruth Forbes and her Executive Team.