Caribbean submits new certificate of need to regulator

Mr. Richard Hew reports NEW FILING BY CARIBBEAN UTILITIES COMPANY, LTD. TO STRENGTHEN GRAND CAYMAN'S GRID AND MEET 2027 ENERGY NEEDS On Aug. 1, 2025, Caribbean Utilities Co. Ltd. announced an agreed approach with the Utility Regulation and Competition Office to address the pressing demand for increased generating capacity in Grand Cayman. As part of this strategic alignment, Caribbean Utilities committed to withdraw its initial certificate of need submitted on June 7, 2024. In conjunction with this withdrawal, URCO formally rescinded its final determination on Caribbean Utilities' certificate of need issued on April 24, 2025. A key feature of this agreement was that solar generation coupled with battery storage may be able to provide firm capacity subject to industry standard analysis. In alignment with the recently established agreement, Caribbean Utilities is pleased to confirm the submission of a new CON to the regulator for formal review. This updated filing outlines the generation resource requirements essential to meet Grand Cayman's projected energy demand with a need for additional generation capacity to be in place by 2027. Caribbean Utilities' submission includes a comprehensive system analysis, detailed load forecasts and operational benchmarking designed to ensure sufficient capacity and energy availability by June, 2027. The time frame for supply of the needed capacity is very short, and it is likely that interim measures may need to be taken to fulfill the needs of the grid in the short term. The new submission differs from the prior document in that the generation capacity and reliability requirements are outlined but no specific technology is recommended. Instead, it is anticipated that URCO will issue a request for proposal, and bidders will be allowed to propose alternative resource solutions to meet that need. Caribbean Utilities conducted additional analyses to provide URCO with an example methodology to evaluate the potential contribution of alternative generation solutions, such as the dispatchable solar photovoltaic project, which was recently issued as a request for proposal, to support forecasted load requirements. President and chief executive officer Richard Hew stated: "CUC remains steadfast in its commitment to accelerating Grand Cayman's renewable energy transition, ensuring that it is secure, affordable and delivers lasting benefits to households, businesses and communities we serve." Through continued collaboration, innovation and investment in sustainable technologies, Caribbean Utilities is dedicated to building a resilient energy future that promotes economic prosperity and environmental stewardship and ensures affordable, equitable access to energy for all. As the company moves forward, Caribbean Utilities remains focused on delivering solutions that meet today's challenges while laying the foundation for a cleaner, more sustainable tomorrow. We seek Safe Harbor.