The Puerto Rico Public Private Partnership Authority announced the selection of four proponents that have the necessary experience to manage and operate all aspects of the Puerto Rico Electric Power Authority’s electricity distribution and transmission system.
P3 Authority Executive Director Omar Marrero confirmed the qualified proponents: Duke Energy Corporation; Exelon Corporation; PSEG Services Corporation; and a consortium composed by ATCO Ltd, IEM and Quanta Services Inc., collectively, the Quanta Consortium.
Duke Energy Corporation is a company that serves approximately 7.6 million customers. Duke has a territorial expansion of 95,000 square miles across six states of the U.S. mainland and has a transmission and distribution system that extends more than 295,000 miles.
Exelon is a Fortune 100 listed company that in 2017 served more than 10 million customers and generated revenues of approximately $33.5 billion. PSEG Services Corporation is a company that provides services to some 3.8 million customers covering approximately 2,600 square miles of territory.
The Quanta Consortium is composed of three companies with experience in the field of electric power. Quanta Services Inc. is a provider of infrastructure solutions for the electric power, oil and gas, and telecommunications industries in North America. The company has more than 41,000 employees and approximately $10.5 billion in revenue.
ATCO offers innovative business solutions and services on various platforms, including electricity, structures and logistics, pipelines and liquids, and retail energy. The company has approximately 7,000 employees.
Finally, IEM is a global security consulting company that specializes in providing strategies, technologies and innovative solutions. Through its years of experience, IEM has overseen more than $51 billion in disaster recovery programs and has supported more than 300 state and local jurisdictions with a wide range of services.
“Under a public-private partnership we will be developing a system that responds to the real needs of our people, providing stability, reliability and efficiency to our island’s energy system,” Marrero said. “The Transmission and Distribution P3 Project is one of great impact, which will allow the modernization of Puerto Rico’s energy system.”
“The market response was a very positive one. Having four highly-qualified companies competing for this P3 project speaks volumes about the confidence they have in Puerto Rico and about credibility of the process,” said PREPA Executive Director José Ortiz.
“This competition will bring opportunities for providing better costs and better and new services to our consumers,” he said.
The P3 Authority will now be sending the request for proposal to the selected proponents, expecting to select the project manager during the third quarter of 2019.
“All of the statements of qualifications were carefully evaluated by the Partnership Committee created by the P3 Authority, in all its aspects, including the financial, legal and technical areas,” Marrero said
“In addition, the experience to manage and use federal disaster recovery funds, which may be available for the transformation of PREPA, was taken into account,” Marrero said.