With two and a half months before Bahamas Power and Light (BPL) fires up its new Wartsila engines, producing 132.5 megawatts of power, the country’s electricity utility is still finalizing its negotiations with Wartsila for training on the operation and maintenance of the new engines and generators, BPL’s Executive Director Patrick Rollins said yesterday.
Rollins explained during a media tour of Station A, where the new engines are housed, that there are about 100 workers from Wartsila working alongside Bahamian workers attempting to meet the December 15 deadline to fire up the Wartsila engines.
“This is a specialized job with specialized skills,” said Rollins.
“We’re trying to use as many Bahamians as we can. We are finalizing negotiations on that training now. That’s going to begin shortly.”
BPL has had to bring in international experts to help alleviate the generation shortfall still plaguing New Providence. But, the commissioning of the new Wartsila engines should assist in allaying those shortfall woes by December.
In the meantime, the company continues to work on acquiring its rate reduction bond, according to Rollins.
Bahamas Power and Light (BPL) has been engaged with its rate reduction bond advisor for almost three months, as it charts the way forward towards restructuring its debt.
Citibank was named as the company’s advisor on its restructuring and for two and a half months has been leading BPL through the processes involved in the restructuring exercise.
BPL hopes to restructure $311 million in debt by the end of the year.
BPL is hoping to raise between $450 million and $500 million from the restructuring exercise.