Luma Energy, a 50-50 joint venture between Atco and Quanta Services, announced this Tuesday that it will modernize and operate the entire electricity transmission and distribution system of Puerto Rico.
Firstly, Luma Energy will also modernize the entire grid of the island, as it was severely damaged in 2017 by hurricanes. Luma’s works on the grid will give Puerto Ricans improved quality of life and increased economic development.
Firstly, Luma will receive the operations of the grid from the Puerto Rico Electric Power Authority, which is in bankruptcy. The handover happens after countless regulatory, operational, safety and financial planning and readiness activities of Luma Energy.
Secondly, the company has hired 2,200 employees to help create a resilient electricity delivery system for Puerto Rico. All these man power will improve the overall performance of the grid; it will also boost customer service and reliability.
Thirdly, according to the company’s statement, Luma Energy has already provided detailed submissions to the Puerto Rico Energy Bureau that outline the plans, metrics, and principles needed to begin transforming the island’s electric power system.
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Luma Energy with a package of benefits for Puerto Ricans and communities
Moreover, the taking over of Luma is part of ATCO’s plan to grow its business in the United States and Latin America; as part of our long-term global essential services strategy.
In fact, in recent years, ATCO has invested in Neltume, a Latin American transportation and logistics company; developed power generation assets in in Mexico and Chile; and also has expanded its modular structure operations into Chile, Mexico and the United States.
In addition, Wayne Stensby CEO of Luma Energy, said about the taking over. “After 11 months of building a company and its required systems; our team is energized by the opportunity to create a meaningful impact; both as an operator and as a neighbor.”
He also remarked. “We’re excited to be making a difference through community investments such the LUMA College for technical training; funded by ATCO and Quanta, where Puerto Ricans will develop the skills; also, knowledge and behaviors to safely rebuild Puerto Rico’s electric infrastructure.”
Finally, Nancy Southern, CEO of Atco, said. “Undertaking this transformation is a big job with an even bigger benefit. Luma will provide Puerto Ricans with something many of us take for granted: safe and reliable power.”