Generators supplying power to Palo Seco to stabilize grid
October 30, 2017
Two generators, part of a $35.1 million contract by the U.S. Army Corps of Engineers, began providing up to a combined 50 megawatts of electricity Oct. 30, 2017, to the Palo Seco power plant near San Juan, the agency announced.
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PREPA: Nulling Whitefish contract is ‘4-month setback’
October 30, 2017
The government’s decision to cancel the contentious $300 million contract with Montana-based Whitefish Energy will set back restoring Puerto Rico’s power fully by about four months, Puerto Rico Electric Power Authority Executive Director Ricardo Ramos said Sunday.
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OBoard names Chief Transformation Officer for PREPA
October 26, 2017
In the wake of the controversy swirling around the $300 million contract the Puerto Rico Electric Power Authority awarded Whitefish Energy to rebuild the network post-Hurricane María, the utility has been assigned a “Chief Transformation Officer” to oversee the work.
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PR, federal partners unite to energize PR’s power grid
October 18, 2017
Over the next several months, the Puerto Rico Electric Power Authority (PREPA), United States Army Corps of Engineers (USACE), the Department of Energy, and private industry will unite to restore emergency power to Puerto Rico’s electric grid, which was heavily damaged by hurricanes Irma and María, the Federal Emergency Management Agency said.
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USACE awards $240M contract for power restoration
October 16, 2017
The U.S. Army Corps of Engineers (USACE), in coordination with the Huntsville Engineering and Support Center, has awarded a $240 million contract to Texas-based Fluor Corporation for the repair of the power grid in Puerto Rico, the agency announced.
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National voluntarily dismisses complaint vs. PREPA
October 16, 2017
National Public Finance Guarantee Corporation announced that it and other creditors have voluntarily dismissed without prejudice the adversary complaint filed on Aug. 7, 2017 which sought to compel the Puerto Rico Electric Power Authority to deposit revenues with the bond trustee as required by the terms of the PREPA Trust Agreement, PROMESA and the U.S. Constitution.
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PREPA bondholders offer $1B to support recovery work
September 27, 2017
The Puerto Rico Electric Power Authority (PREPA) Bondholder Group announced that its members have offered a debtor in possession (DIP) financing loan to the public corporation to help address the urgent need to repair the power grid in the wake of Hurricane María, following Hurricane Irma.
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Gov’t: Trucks en-route to gas stations, under escort
September 27, 2017
Federal agents began escorting 91 trucks to supply gasoline to local stations, 108 of which have security provided by the National Guard and the Puerto Rico Police, the government’s Secretary of Public Affairs and Public Policy, Ramón Rosario Cortés said Tuesday.
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Moody’s: PR’s fragile economy faces new risks post-María
September 26, 2017
The Commonwealth of Puerto Rico is facing new risks and economic uncertainty following the devastation caused by Hurricane Maria last week, Moody’s Investors Service concluded in a report released Tuesday.
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US lawmakers ask OBoard for energy reform plan for PR
September 14, 2017
Four members of U.S. Congress representing both political parties sent a letter to chairman of the Financial Oversight and Management Board for Puerto Rico, requesting details of the Board’s energy reform plan for the island following the devastation of Hurricane Irma.
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Moody’s: Hurricane Irma further cripples PREPA
September 13, 2017
Hurricane Irma will have negative implications for the Puerto Rico Electric Power Authority’s liquidity and cause further delays to its debt restructuring plans, Moody’s Investors Services predicted in a report released Tuesday.
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PRMA: PR has food for 1 month, needs a better PREPA
September 12, 2017
Members of the Puerto Rico Manufacturers Association gathered Monday to provide a status report on the island’s essentials, which include about a month’s supply of food and enough propane and diesel to meet the island’s needs.
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50% of Liberty PR customers back online, provider says
September 9, 2017
As of 6 p.m. tonight, 50 percent of Liberty Puerto Rico’s customers have been reconnected to services following the impact Hurricane Irma had on the island late this week, company President Naji Khoury said.
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PREPA head airs laundry list of operational problems
August 15, 2017
The Executive Director of the Puerto Rico Electric Power Authority, Ricardo Ramos-Rodríguez, aired a laundry list of structural and operational problems plaguing the island’s main energy provider, while outlining plans to face the peak of this year’s hurricane season.
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PREPA insurers ask court for independent receiver
July 19, 2017
A group of companies insuring the Puerto Rico Electric Power Authority’s debt filed a motion in the U.S. District Court for the District of Puerto Rico Tuesday, asking for the appointment of an independent receiver to pursue increased rates and to oversee certain operations of the public corporation.
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