The winner from among six qualified bidders to provide additional energy for the Cayman Islands will be announced by the end of this month, according to a release from the Cayman Islands Electricity Regulatory Authority.
The 36 megawatts of additional power, along with CUC’s existing capacity, will meet the forecast energy demand for the next several years, the Authority said.
The bidding process, which launched in 2012, resulted in six qualified bidders: Aecom Energy, Optimal Energy Ltd. and InterEnergy Holdings, Dart’s construction management company DECCO, Energy World Corp., the Louis Berger Group Inc., and Caribbean Utilities Company.
The request for proposal states that the bid with the highest score will be judged as the winner and the bid with the lowest cost per kilowatt-hour wins the price aspect of the competition, with 80 points.
Each bid receives a maximum of 20 points based on criteria such as environmental impact, fuel- and equipment-supply plans, financing, profitability, construction and operating plans – as well as other parameters.
The successful bidder is required to put its preparations for the additional generation online by 2016.
ERA managing director Charles Farrington said the process will “ensure a well-regulated and secure electricity sector, as well as exploring all avenues to further reduce the cost and improve the diversity of our electrical energy supply.”