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Caribbean Utilities Company, Ltd Announces Unaudited Results for the three and six months ended June 30 2022
Caribbean Utilities Company, Ltd Announces Unaudited Results for the three and six months...
About this update from Caribbean Utilities Co. Ltd. Class A
[{"type":"text","content":"\n \n \n \n Caribbean Utilities Company, Ltd Announces Unaudited Results for the three and six months ended June 30 2022\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n Caribbean Utilities Company, Ltd. is listed for trading in\n \n United States\n \n dollars on the Toronto Stock Exchange under the trading symbol \"CUP.U\".\n \n \n \n \n GRAND CAYMAN\n \n ,\n \n Cayman Islands\n \n \n ,\n \n \n July 28, 2022\n \n \n /CNW/ - Caribbean Utilities Company, Ltd. (TSX: CUP.U) (\"CUC\" or \"the Company\") announced today its unaudited results for the three and six months ended\n \n June 30, 2022\n \n (all dollar amounts are stated in\n \n United States\n \n dollars).\n \n \n \n \n \n \n \n \n \n Caribbean Utilities Company, Ltd. (CUC) will participate in the upcoming solicitation for utility-scale renewable energy to be conducted by the regulator. This is part of the Company's activities under the Integrated Resource Plan that will transform the energy sector in\n \n Grand Cayman\n \n and 'green' CUC's grid.\n \n \n In\n \n April 2022\n \n , The Utility Regulation and Competition Office (\"OfReg\") issued a Request for Qualification (\"RFQ\") for the Renewable Energy Auction Scheme (\"REAS\") Competition Round 1. The REAS Round 1 is intended to select a party, or parties, to operate and maintain Solar Photovoltaic Plants and Energy Storage up to 100MW with 60MW Battery Energy Storage System Facility. OfReg also issued an RFQ for a solar plus storage 23MW Dispatchable Photovoltaic Generation plant facility.\n \n \n The Company has received approval from OfReg for a 20 MW battery which will assist the diesel generators with grid stability during loss of generation and also reduce fuel consumption. This project is under way and it is anticipated to come online in late 2023.\n \n \n In\n \n May 2022\n \n , Standard & Poors (\"S&P\") revised its rating of the Company to stable from negative BBB+ due to consistent financial performance. Despite the pandemic, which negatively affected Cayman's tourism industry, CUC's financial measures...