The Cayman Brac Power and Light Company, situated at Stake Bay Cayman Brac, has been bought by Dart in a move that will see Cayman’s largest landowner acquire the Brac power company’s assets and its electricity generation and transmission and distribution licenses. The purchase still needs to be given the go-ahead by the Utility Competition and Regulation Office (OfReg).
Dart said the acquisition marked a new chapter for power generation on the Sister Islands and its community, which would allow investment in new technology and equipment at the plants and reduce the risk in the event of natural disasters and disruption to fuel supply.
Dart explained that Brac Power and Light approached Dart in line with their ongoing strategy to find a successor to innovate and invest in the existing infrastructure and sustainable future of the Sister Islands.
General Manager, Jonathan Tibbetts, will continue to oversee the company’s day-to-day operations and all employees were expected to transition to the new company, and receive training opportunities in new technologies as they are adopted.
Moses Kirkconnell is a Director of The Brac Power and Light Company. He said the shareholders of Brac Power and Light had shared the ambition for some time to grow the plant’s capabilities and keep pace with the energy revolution, which ultimately would benefit customers.
“Dart’s acquisition of the assets of Brac Power and Light will provide much needed investment in the current infrastructure and we hope, lead to a more sustainable future for the Sister Islands,” he said.
Dart said it was committed to sustainable growth in the Cayman Islands, taking guidance from the United Nation’s Sustainability Development Goals and supporting the Cayman Islands’ National Energy policy target to reach 70% renewable energy by 2037, and to reduce per capita emissions from 12.3 to 4.8 by 2030.
Mark VanDevelde, CEO of Dart Enterprises, said: “We are committed to Cayman and its sustainable future and by working together we can make an impact to mitigate climate change; we currently produce around 3% of the country’s power through our solar capabilities and this new venture offers a significant opportunity for us to increase that output and decrease the Islands’ dependence on fossil fuels and reduce carbon emissions. We’re looking forward to building on the success of Brac Power and Light over time and exploring the opportunity to develop renewable energy capabilities in the Sister Islands in the future.”
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