PUERTO RICO - LUMA Energy LLC (LUMA), a newly-formed company owned by Canadian Utilities Limited (Canadian Utilities), an ATCO company, and by Quanta Services (Quanta), announced that LUMA has been selected by the Puerto Rico Public-Private Partnerships Authority to modernize and operate Puerto Rico's electric transmission and distribution system over a term of 15 years.
Under the contract, LUMA will transform, harden and rebuild Puerto Rico's T&D system for the long-term benefit of all Puerto Ricans following the devastation of hurricanes Irma and Maria, reports NS Energy.
The company plans to combine their energy solutions with the experience of Puerto Rico Electric Power Authority's (PREPA) employees to provide Puerto Rico with a "modern, resilient electricity system that will support broader economic development for the island."
LUMA will be headquartered in San Juan, Puerto Rico and is in the process of relocating a team to the
PREPA currently provides electricity to more than 1.5 million residents in Puerto Rico and operates a network of over 30,000 km of transmission and distribution lines. LUMA will manage and operate the Puerto Rico electric system for PREPA, which will continue to maintain capital ownership and financing responsibility for the T&D system as well as continue to operate its power generation assets.
