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CARIBBEAN UTILITIES COMPANY, LTD. ANNOUNCES UNAUDITED RESULTS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2024
CARIBBEAN UTILITIES COMPANY, LTD. ANNOUNCES UNAUDITED RESULTS FOR THE THREE AND SIX MONTHS ENDED ...
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, 2024\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\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 July 31, 2024\n \n /CNW/ - Caribbean Utilities Company, Ltd. (\"CUC\" or the \"Company\") has announced its consolidated unaudited results for the three and six months ended\n \n June 30, 2024\n \n . The following are key highlights (all figures stated in\n \n United States\n \n Dollars).\n \n\n\n\n\n\n\n\n\n\n\n Capital Expenditures\n \n\n\n\n The Company invested\n \n $44.0 million\n \n in the first half of 2024 on projects with various objectives including grid resiliency, upgrading generation assets, and supporting the transition to lower carbon energy. These projects included distribution system extensions and upgrades, generation replacements, lifecycle upgrades, alternative energy technologies, installation of Battery Energy Storage Systems (\"BESS\"), and facility and auxiliary asset replacements.\n \n\n The resiliency investments by the Company proved successful following the passing of Hurricane Beryl. The Company was able to successfully restore electricity service to all impacted customers within approximately 24 hours of the all clear being issued.\n \n\n\n\n Sustainability Initiatives\n \n\n\n\n In\n \n April 2024\n \n , the Cayman Islands Government approved the 2024-2045 National Energy Policy (\"NEP\"). The NEP establishes a framework by which all stakeholders can identify objectives for the achievement of the territory's energy goals, including the imperative need to reduce greenhouse gas emissions. The revised NEP focuses on renewable energy, energy conservation methods and the promotion of energy efficiency.\n \n\n CUC aligns with the NEP and the commitment to sustainability and carbon reduction through the following projects:\n \n...