The Caribbean Utilities Company, Ltd. is
listed for trading in United
States dollars on the Toronto Stock Exchange under the
trading symbol "CUP.U".
GRAND
CAYMAN, Cayman
Islands, Nov. 24, 2023 /CNW/ - Caribbean
Utilities Company, Ltd. (TSX: CUP.U) ("CUC" or "the Company") is
pleased to announce the appointment of Dr. Stephen Jay as an Executive Officer of the
Company serving as Vice President of Energy Operations. Dr. Jay
holds a doctorate in Electrical and Mechanical Engineering and
brings a wealth of knowledge with over 30 years' experience in
strategy development, asset management, electricity markets and
regulation, renewable generation development and technological
innovation.
Prior to his appointment with CUC, Dr. Jay was with Transpower
New Zealand Ltd. as the Executive General Manager Operations. Dr.
Jay has a wealth of experience including strong leadership skills,
active collaboration with the New
Zealand market regulator including the development of
renewable energy systems, and assistance with positioning the
country for a lower carbon emission future.
As the President of the Electricity Engineers Association, a
national not-for-profit organization that represents the
self-governance, safety and asset management best practice for the
generation, distribution and transmission companies in New Zealand; Dr. Jay provided insight into
renewable energy thought leadership, technology integration and
asset management.
"We are pleased to have Dr. Jay with the Company as the Vice
President of Energy Operations. His expertise and knowledge gained
in New Zealand are a welcomed
addition to the CUC team as we transition to a low carbon energy
future," stated Mr. Richard Hew,
President and Chief Exective Officer.
The principal activity of the Company is to generate, transmit
and distribute electricity in its licence area of Grand Cayman, Cayman
Islands pursuant to a 20-year Transmission &
Distribution ("T&D") Licence and a 25-year non-exclusive
Generation Licence (the "Generation Licence" and together with the
T&D licence, the "Licences") granted by the Cayman Islands
Government (the "Government", "CIG"). The T&D Licence, which
expires in April 2028, contains
provisions for an automatic 20-year renewal and the Company has
reasonable expectation of renewal until April 2048. The Generation Licence expires in
November 2039. Further information is available at
www.cuc-cayman.com.
Caribbean Utilities Company, Ltd. ("CUC" or "the Company"), on
occasion, includes forward-looking statements in its media
releases, Canadian securities regulatory authorities filings,
shareholder reports and other communications. Forward-looking
statements include statements that are predictive in nature, depend
upon future events or conditions, or include words such as
"expects", "anticipates", "plan", "believes", "estimates",
"intends", "targets", "projects", "forecasts", "schedule", or
negative versions thereof and other similar expressions, or future
or conditional verbs such as "may", "will", "should", "would" and
"could". Forward-looking statements are based on underlying
assumptions and management's beliefs, estimates and opinions, and
are subject to certain risks and uncertainties surrounding future
expectations generally that may cause actual results to vary from
plans, targets and estimates. Such risks and uncertainties include
but are not limited to operational, general economic, market and
business conditions, regulatory developments and weather
conditions. CUC cautions readers that actual results may vary
significantly from those expected should certain risks or
uncertainties materialize or should underlying assumptions prove
incorrect. Forward-looking statements are provided for the
purpose of providing information about management's current
expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other
purposes. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise except as
required by law.
SOURCE Caribbean Utilities Company, Ltd.