The Puerto Rico Public Private Partnerships Authority announced that LUMA Energy, LLC — a consortium comprised by Canadian firm ATCO Ltd. (ATCO) and U.S.-based Fortune 500 firm Quanta Services Inc. — has been selected to operate, maintain and modernize the Puerto Rico Electric Power Authority’s electricity transmission and distribution for 15 years. The announcement follows […]
Federal regulators have asked the operator of a scandal-plagued Puerto Rico energy project to explain why they didn’t seek permission to build and operate a liquid natural gas terminal (LNG) adjacent to the island’s first major power project since a 2017 hurricane devastated the island’s electrical grid. The Federal Energy Regulatory Commission (FERC) last week […]
The Financial Oversight and Management Board for Puerto Rico announced that it certified the government of Puerto Rico’s updated Fiscal Plan for the Puerto Rico Sales Tax Financing Corporation (known as COFINA, in Spanish). The 2020 Fiscal Plan for COFINA is “based on the macroeconomic projections outlined in the Certified Fiscal Plan for the Commonwealth […]
The San Juan Marriott Resort & Stellaris Casino recently received the Health & Safety Certification from the Puerto Rico Tourism Co. for its “high standards of disinfection and preparedness against COVID-19.” The certification is awarded to businesses that “effectively implement and execute the safety measures and protocols to avoid the spread and transmission of COVID-19,” […]
The National Science Foundation (NSF) has granted $100,000 to the University of Puerto Rico in Mayagüez, for its “Recruiting, Retaining, and Engaging Academically Talented Students from Economically Disadvantaged Groups into a Pathway to Successful Engineering Career,” known as Engineering PEARLS. The funding will enable the project, now in its second year, to expand its scholarship base and […]
Popular Inc. has sold a 180,000-square-foot building, known as Caparra Center, to Triple-S Management Corporation through a private deal that keeps the price tag under seal. “We’re viewing this transaction as a private one. However, the acquisition of this 180,000-square-foot building will allow us to have the additional space to respond to our growth in […]
Puerto Rico Gov. Wanda Vázquez announced a proposed $10.2 billion budget for the Commonwealth’s General Fund for Fiscal Year 2021. In her State of the Commonwealth and Budget address, she also proposed a consolidated budget of $28.2 billion that includes funds generated by a number of public agencies for the fiscal year that begins July […]
Passenger transport companies — including taxis, rideshare companies, party buses, tourist excursions, tourist limousines, public vehicles, carpools, and public buses — have been given the go-ahead to resume operations, on a limited basis. The Puerto Rico Bureau of Transportation and other Public Services said operators may offer services during the hours allowed by the curfew […]
The Puerto Rico Small Inns and Tourism Association urged sector leaders to come together to lobby for an additional funding assignment to the Puerto Rico Tourism Co. and Discover Puerto Rico to “improve the product and promotion efforts.” “Our tourism sector has experienced great changes as a result of the COVID-19 pandemic, and we face […]
The New York Federal Reserve’s Cash and Custody Division confirmed a drop in the nationwide availability of coins — quarters, dimes, nickels and pennies — as a result of the COVID-19 pandemic, which is also affecting the Puerto Rico market, the Bankers Association stated. The decrease is mainly due to the interruption of the circulation […]
Puerto Rican students enrolled in public schools Naranjito, Las Piedras and Adjuntas won the top prizes of the “Resuélvelo Boricua” student competition, sponsored by the STEM Education Program, in collaboration with the Response Innovation Lab, both Puerto Rico Science, Technology and Research Trust programs. The competition consisted of preparing prototypes to address four vital areas […]
Sam’s Club Puerto Rico has launched a new service through which its members, including Business members, can order through the Sam’s Club mobile application or its website, and pick it up at the selected club store. Through the service, members can choose the products that are identified as “Pickup in Club” and place them in […]
Several municipalities on the island will benefit from some $17 million for permanent work projects with funds approved by the Federal Emergency Management Agency and the Puerto Rico Central Office for Recovery, Reconstruction and Resilience, or COR3. The allocations made June 5-11 will fund 75 recovery and reconstruction projects in Puerto Rico to address damage […]
Caribbean Produce Exchange Inc. confirmed that the alliance to establish a free distribution network of 1.2 million boxes of fresh food to all of Puerto Rico has yielded “very positive results,” now in its fifth week. The U.S. Department of Agriculture-financed project under the “Farmers to Families Food Box Program” has seen the participation of […]
The Aurora Angel Network has made an undisclosed investment in local superfood manufacturing startup Amasar, which has developed a line of products and recipes based on the long know Puerto Rican staple: breadfruit. Amasar was founded in 2016 by Puerto Rican professionals Marisol Villalobos, a microbiologist, and Jesús Martes, a chemical engineer, who quit […]
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