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GRAND CAYMAN, Cayman Islands, Aug. 26, 2011 /CNW/ --
CUC Invites Proposals for Renewable Energy Generation Facilities
GRAND CAYMAN, Cayman Islands, Aug. 26, 2011 /CNW/ - Caribbean Utilities
Company, Ltd. ("CUC" or "the Company") is inviting interested parties
to submit an Expression of Interest and Preliminary Proposal for the
financing, construction, ownership and operation of Renewable Energy
Generation Facilities. It is the Company's intention to accept up to 13
megawatts ("MW") in total of grid-connected renewable energy generators
on Grand Cayman under this invitation.
CUC has been monitoring the status of several alternative technologies
for over a decade. Historically the cost of these technologies has
prohibited adoption, however with current high oil prices and
advancement in renewable energy generation technologies, CUC believes
that there are vendors in the market that can provide utility scale
projects that may provide a life cycle cost savings to the consumer.
Renewable energy could provide several benefits to the Cayman Islands,
including lower emissions, price stability, and perhaps lower cost. CUC
is hoping to identify viable Renewable Energy projects by the end of
2011. A copy of the Request for Expressions of Interest is available on
the Company's website at www.cuc-cayman.com and can be accessed at the link below. Expressions of interest should
be directed to Sacha Tibbetts, Manager Engineering Services.
http://files.newswire.ca/520/CUC_Expressions_of_Interest.pdf
CUC provides electricity to Grand Cayman, Cayman Islands, under a
non-exclusive Electricity Generation Licence expiring in 2029 and an
exclusive Electricity Transmission and Distribution Licence expiring in
2028. Further information is available at www.cuc-cayman.com.
Caribbean Utilities Company, Ltd. ("CUC" or "the Company"), on occasion,
includes forward-looking statements in its media releases, Canadian
securities regulatory authorities filings, shareholder reports and
other communications. Forward-looking statements include statements
that are predictive in nature, depend upon future events or conditions,
or include words such as "expects", "anticipates", "plan", "believes",
"estimates", "intends", "targets", "projects", "forecasts", "schedule",
or negative versions thereof and other similar expressions, or future
or conditional verbs such as "may", "will", "should", "would" and
"could". Forward-looking statements are based on underlying
assumptions and management's beliefs, estimates and opinions, and are
subject to certain risks and uncertainties surrounding future
expectations generally that may cause actual results to vary from
plans, targets and estimates. Such risks and uncertainties include but
are not limited to operational, general economic, market and business
conditions, regulatory developments and weather conditions. CUC
cautions readers that actual results may vary significantly from those
expected should certain risks or uncertainties materialize or should
underlying assumptions prove incorrect. Forward-looking statements are
provided for the purpose of providing information about management's
current expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other
purposes. The Company disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise except as required by law.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/26/c6591.html
p bClair/bbe Stafford/bbr/ bCorporate Compliance Officer/bbr/ Caribbean Utilities Company, Ltd.br/ Phone: 345-914-1201 /p