Real assets investor Vision Ridge Partners has acquired Turks and Caicos Islands (TCI) electricity utility company FortisTCI for an unspecified sum.
FortisTCI has been rebranded as Pelican Energy TCI.
Reuben Munger, founder, managing partner and CIO of Vision Ridge, said: “We believe that the company is well positioned to strategically improve its generation mix to meet this demand and to help ensure the reliable delivery of sustainable power on TCI for future generations.
“We and Pelican Energy TCI’s management are excited by the opportunity to closely collaborate with the TCI government as well as all company stakeholders and the TCI community at large to effectively meet the increasing needs of local energy consumers.”
Ruth Forbes, president and CEO of Pelican Energy TCI, said: “Vision Ridge brings extensive experience investing in, leading, and transforming critical and complex energy solutions businesses across different geographies, and we look forward to this new chapter as Pelican Energy TCI with their partnership.
“As Pelican Energy TCI, we look forward to continuing to maintain the highest standards of safety and service excellence for our customers, while helping to address the long-term power needs and energy security of the Turks and Caicos Islands.”
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