GRAND CAYMAN, Cayman Islands, Aug. 5, 2025/ CNW/ – Caribbean Utilities Business, Ltd. (” CUC”) is dedicated to advancing the renewable resource shift, guaranteeing it is safe and secure, budget friendly, and helpful for homes, companies, and neighborhoods.
On August 1, 2025, CUC and the Cayman Islands Energy Guideline and Competitors Workplace (” URCO”) settled on a technique to attend to the immediate requirement for extra producing capability requirements for Grand Cayman As part of this contract, CUC has actually willingly withdrawn its Certificate of Requirement (” CON”) initially sent on June 7, 2024 Simultaneously, URCO has actually rescinded its Last Decision provided on April 24, 2025
CUC will send a brand-new CON to URCO by September 5, 2025 This upgraded submission will specify the generation resource requirements needed to support Grand Cayman’s predicted energy need from 2027 onward.
CUC and URCO have actually likewise concurred that Condition 31 of CUC’s Transmission and Circulation (” T&D”) Licence, does not prevent the arrangement of company capability generation from sustainable sources. Both celebrations have actually acknowledged that hybrid solar photovoltaic systems incorporated with battery storage might certify as firm capability, based on Efficient Load Bring Capability analysis.
In addition, both celebrations are actively taken part in the modernization of the CUC Transmission and Circulation Licence to line up with developing regulative, facilities, and functional requirements Both celebrations will use all sensible efforts to settle this procedure, consisting of developing turning point dates and deliverables to be concurred upon as quickly as practicable.
In assistance of the wider diversity of Grand Cayman’s energy portfolio, URCO provided a Dispatchable Photovoltaic Ask For Propositions on July 3, 2025 All qualified bidders, consisting of CUC, are welcomed to send propositions by October 2, 2025 This effort represents a crucial action in broadening dispersed sustainable generation capability.
” We take pride in our strong performance history of constant enhancement in dependability with our typical yearly disturbance period now under 2 hours, and in line with North American standards. We are devoted to keeping and enhancing energy dependability and durability as we shift to Grand Cayman’s tidy energy future. The CUC group is totally dedicated to working carefully with URCO to make sure that price, dependability, and security stay at the heart of our tidy energy improvement,” stated President and CEO, Mr. Richard Hew
ABOUT CARIBBEAN UTILITIES BUSINESS, LTD. Caribbean Utilities Business, Ltd. (” CUC” or the “Business”) is the sole supplier of electrical power to Grand Cayman The primary activity of the Business is to create, send and disperse electrical power in its licence location of Grand Cayman, Cayman Islands, pursuant to a 20-year Transmission & & Circulation (” T&D”) Licence and a 25-year non-exclusive Generation Licence (the “Generation License” and together with the T&D Licence, the “Licences”) given by the Cayman Islands Federal Government (the “Federal government”, “CIGARETTE”). The T&D Licence, which ends in April 2028, includes arrangements for an automated 20-year renewal and the Business has sensible expectation of renewal up until April 2048 The Generation Licence ends in November 2039 More info is offered at www.cuc-cayman.com.
Caribbean Utilities Business, Ltd. (” CUC” or “the Business”), on celebration, consists of positive declarations in its media releases, Canadian securities regulative authorities filings, investor reports and other interactions. Positive declarations consist of declarations that are predictive in nature, rely on future occasions or conditions, or consist of words such as “anticipates”, “expects”, “strategy”, “thinks”, “price quotes”, “plans”, “targets”, “jobs”, “projections”, “schedule”, or unfavorable variations thereof and other comparable expressions, or future or conditional verbs such as “might”, “will”, “ought to”, “would” and “might”. Positive declarations are based upon underlying presumptions and management’s beliefs, price quotes and viewpoints, and undergo particular threats and unpredictabilities surrounding future expectations typically that might trigger real outcomes to differ from strategies, targets and price quotes. Such threats and unpredictabilities consist of however are not restricted to functional, basic financial, market and organization conditions, regulative advancements and climate condition. CUC warns readers that real outcomes might differ considerably from those anticipated ought to particular threats or unpredictabilities emerge or ought to underlying presumptions show inaccurate. Positive declarations are offered the function of offering info about management’s present expectations and strategies associating with the future. Readers are warned that such info might not be proper for other functions. The Business disclaims any objective or responsibility to upgrade or modify any positive declarations, whether as an outcome of brand-new info, future occasions or otherwise other than as needed by law.
SOURCE Caribbean Utilities Business, Ltd.