SAN JUAN, Puerto Rico — A new private company will take over power generation units owned by the Puerto Rico Electric Power Authority, the public corporation currently in charge of generating energy on the U.S. territory.
Genera PR, an independently managed subsidiary of the New York-based energy company New Fortress Inc., has been awarded a multimillion-dollar 10-year contract to operate, maintain and decommission the power generation units on the island.
The power generation equipment in Puerto Rico, plagued by ongoing blackouts and decaying infrastructure, is on average about 45 years old — twice the age of those on the U.S. mainland. Some of them have been found to be six decades old. They’re mainly reliant on fossil fuels.
The company and the Puerto Rico Electric Power Authority (PREPA) are currently undergoing a transition process set to last 100 days. Genera PR is expected to formally start operating in July.
Officials in Puerto Rico have been taking steps toward…
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