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WAPA Extends Line of Credit With First Bank, Banco Popular

News / Virgin Islands / October 29, 2019

At an emergency meeting on Monday, the governing board of the Virgin Islands Water and Power Authority approved extensions of the maturity dates of WAPA’s letters of credit for the electrical and water systems with First Bank and Banco Popular, the authority has announced. The letters of credit are set to expire on October 31, 2019. The board action extends the First Bank line of credit to July 31, 2020, and the Banco Popular credit line to April 30, 2020. 

Board members also approved a time-only contract extension between WAPA and Sulzer Turbo Services to facilitate completion of a maintenance overhaul on generating Unit 23, and certify final performance testing. The extension to December 31, 2019, allows representatives of the company to be on site for the final performance testing of the unit, WAPA said.

Sulzer Turbo Services has been the contractor of record for the overhaul of the largest capacity generator in WAPA’s fleet. Once the unit’s performance is certified, the 39-megawatt generator will be available to the Randolph Harley Power Plant as a standby unit.

Board members in attendance included: Vice Chairman Noel Loftus, Secretary Juanita Young, Directors Kyle Fleming and Joel Lee, and Cheryl Boynes Jackson, Board Chairman Anthony D. Thomas, Elizabeth Armstrong, and Hubert Turnbull were excused.

Staff Consortium

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