Assured Guaranty, a monoline insurer for Puerto Rico Electric Power Authority debt, reacted to the administration’s announced plans to privatize the utility by saying agreeing on an “on an experienced, highly qualified manager able to impose order, transparency and accountability” is long overdue.
Puerto Rico Gov. Ricardo Rosselló announced his administration will begin the privatization of the Puerto Rico Electric Power Authority (PREPA), which he described as “a deficient and obsolete system of generation and distribution of energy on the island that was evident to citizens during the aftermath of Hurricane María.”
Sunnova Energy Corp., the largest provider of distributed, residential solar power in Puerto Rico, shot down reports of an alleged interest in purchasing the Puerto Rico Electric Power Authority, as a whole or in part, as a high-ranking executive of the utility stated.
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