Key Points
- Puerto Rico's electricity agreement was canceled
- Enchanted Rock was alleged to be unauthorized
- The PROCUREMENT process was found to be flawed
By the Numbers
$6 billion400 megawatts
Puerto Rico needed new electricity sources due to years of power outages and generation shortages. The Puerto Rico Electric Power Authority signed a contract for 400 megawatt temporary generation at the Aguirre Power Plant, but the agreement was canceled due to allegations that Enchanted Rock was not authorized.
The cancellation of the agreement was decided by the Financial Oversight and Management Board, citing that the PROCUREMENT process was flawed. The Board found that Power Expectations did not demonstrate financial capacity and technical expertise independently.
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Frequently Asked Questions
- Why was Puerto Rico's electricity agreement canceled?
- Due to allegations that Enchanted Rock was not authorized
- What was the decision of the Financial Oversight and Management Board?
- To cancel the agreement due to a flawed PROCUREMENT process
- What is the significance of this event for public tenders?
- It highlights the importance of basic due diligence
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