A Historic Win in Puerto Rico: Introducing LUMA
ATCO is proud to introduce you to LUMA, our newly-formed company, which has been selected to transform and operate Puerto Rico’s electric transmission and distribution (T&D) system. This is a historic win for ATCO and Canadian Utilities as we have proven that across our global enterprise, we deliver world-class energy solutions that far outpace our competitors. LUMA went up against some of North America’s—and the world’s—largest utility providers to win this contract. Selected by the Puerto Rico Public-Private Partnerships Authority, LUMA will transform the system over a term of 15 years.
LUMA is 50 per cent owned by Canadian Utilities, an ATCO Company, and 50 per cent owned by Quanta Services, an infrastructure project execution company that we’ve worked with on many projects, most recently Alberta PowerLine, the successful Fort McMurray West 500-kV Transmission Project. LUMA will transition Puerto Rico’s aged and inefficient electric grid to one that is safe, reliable, resilient, sustainable and affordable. LUMA will expedite this historic electricity transformation in a way that delivers lasting benefits to the people and communities on the island.
Moving forward, this innovative arrangement, in which we provide our operational expertise to a local jurisdiction that continues to own the utility assets, will provide a model for future development. As we continue to build our portfolio of global energy infrastructure in strategic growth markets of the United States and Latin America, this is a watershed win for our company and will further establish us on the world stage as a leader in energy infrastructure.