The Caribbean Utilities Company, Ltd. is listed for
trading in United States dollars
on the Toronto Stock Exchange under the trading symbol
"CUP.U".
GRAND
CAYMAN, Cayman
Islands, Sept. 7, 2023 /CNW/ - In an effort to
reduce the cost of energy production and reduce carbon emissions,
the Caribbean Utilities Company, Ltd ("CUC") is seeking
qualification submissions from prospective natural gas
suppliers.
As a part of the Cayman Islands National Energy Policy ("NEP")
and the Company's Integrated Resource Plan ("IRP"), the Company is
committed to increase the use of clean energy and reduce greenhouse
gas emissions over the long term. In 2022, the Company initiated an
infrastructure project to upgrade 68 megawatts (MW) of diesel
generation to enable the use of natural gas as a fuel. Natural gas
is cleaner burning fuel than diesel and produces 30% less carbon
emissions. The acquisition of a supply of natural gas will increase
the energy diversity on Grand
Cayman.
The initiative will assist the Company to ensure alignment with
the draft revised 2023-2050 NEP policy targets, which call for the
majority of energy to come from renewable and sustainable sources
within the policy period. As the Company and Grand Cayman continue to grow and expand, we
are delighted to launch this process in support of the transition
to cleaner energy solutions.
Qualified suppliers interested in developing a natural gas
supply solution for CUC are invited to submit written notification
of interest by submission of a statement of qualifications no
later than September 15, 2023, at
2:00pm local Cayman Islands time. The following information
must be included:
- Company Name
- Contact Person Name
- Mailing Address
- Telephone
- Email
- Describe at least one similar gas supply solution that the
company has directly implemented, and include links to publicly
available information on this project (<500 words)
Submissions should be sent to proposals@cuc.ky.
Forward looking statements include statements that are
predictive in nature, depend upon future events or conditions, or
include words such as "expects", "anticipates", "plan", "believes",
"estimates", "intends", "targets", "projects", "forecasts",
"schedule", or negative versions thereof and other similar
expressions, or future or conditional verbs such as "may", "will",
"should", "would" and "could". Forward looking statements are based
on underlying assumptions and management's beliefs, estimates and
opinions, and are subject to inherent risks and uncertainties
surrounding future expectations generally that may cause actual
results to vary from plans, targets and estimates. Some of the
important risks and uncertainties that could affect forward looking
statements are described in the MD&A in the section labeled
"Business Risks" and include but are not limited to operational,
general economic, market and business conditions, regulatory
developments and weather. CUC cautions readers that actual results
may vary significantly from those expected should certain risks or
uncertainties materialize, or should underlying assumptions prove
incorrect. Forward-looking statements are provided for the purpose
of providing information about management's current expectations
and plans relating to the future. Readers are cautioned that such
information may not be appropriate for other purposes. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise except as required by law.
SOURCE Caribbean Utilities Company, Ltd.