P3 Authority confirms selection of 4 proponents for PREPA transformation
The Puerto Rico Public Private Partnership Authority announced the selection of four proponents that have the necessary experience to manage and operate all aspects of the Puerto Rico Electric Power Authority’s electricity distribution and transmission system.
P3 Authority Executive Director
Omar Marrero confirmed the qualified proponents: Duke Energy Corporation; Exelon
Corporation; PSEG Services Corporation; and a consortium composed by ATCO Ltd,
IEM and Quanta Services Inc., collectively, the Quanta Consortium.
Duke Energy Corporation is a
company that serves approximately 7.6 million customers. Duke has a territorial
expansion of 95,000 square miles across six states of the U.S. mainland and has
a transmission and distribution system that extends more than 295,000 miles.
Exelon is a Fortune 100 listed
company that in 2017 served more than 10 million customers and generated
revenues of approximately $33.5 billion. PSEG Services Corporation is a company
that provides services to some 3.8 million customers covering approximately
2,600 square miles of territory.
The Quanta Consortium is
composed of three companies with experience in the field of electric power.
Quanta Services Inc. is a provider of infrastructure solutions for the electric
power, oil and gas, and telecommunications industries in North America. The
company has more than 41,000 employees and approximately $10.5 billion in
ATCO offers innovative business
solutions and services on various platforms, including electricity, structures
and logistics, pipelines and liquids, and retail energy. The company has
approximately 7,000 employees.
Finally, IEM is a global security
consulting company that specializes in providing strategies, technologies and
innovative solutions. Through its years of experience, IEM has overseen more
than $51 billion in disaster recovery programs and has supported more than 300
state and local jurisdictions with a wide range of services.
“Under a public-private
partnership we will be developing a system that responds to the real needs of
our people, providing stability, reliability and efficiency to our island’s
energy system,” Marrero said. “The Transmission and Distribution P3 Project is
one of great impact, which will allow the modernization of Puerto Rico’s energy
“The market response was a
very positive one. Having four highly-qualified companies competing for this P3
project speaks volumes about the confidence they have in Puerto Rico and about
credibility of the process,” said PREPA Executive Director José Ortiz.
“This competition will bring
opportunities for providing better costs and better and new services to our
consumers,” he said.
The P3 Authority will now be
sending the request for proposal to the selected proponents, expecting to
select the project manager during the third quarter of 2019.
“All of the statements of
qualifications were carefully evaluated by the Partnership Committee created by
the P3 Authority, in all its aspects, including the financial, legal and
technical areas,” Marrero said
“In addition, the experience to
manage and use federal disaster recovery funds, which may be available for the
transformation of PREPA, was taken into account,” Marrero said.