Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. HOMEPAGE

Puerto Rico to sell off crippled power utility PREPA

By Daniel Bases

Advertisement

NEW YORK (Reuters) - Puerto Rico said on Monday it would sell off its troubled power utility to the private sector, saying in a statement that the process to unload the indebted company could take roughly 18 months to complete.

The Puerto Rico Electric Power Authority (PREPA) has yet to recover fully from the devastation wrought by Hurricane Maria, which in late September knocked out power to the entire island and left all 3.4 million residents of the U.S. territory in the dark.

A worker of Puerto Rico's Electric Power Authority (PREPA) repairs part of the electrical grid after Hurricane Maria hit the area in September, in Manati, Puerto Rico October 30, 2017. REUTERS/Alvin Baez
A worker of Puerto Rico's Electric Power Authority (PREPA) repairs part of the electrical grid after Hurricane Maria hit the area in September, in Manati Thomson Reuters

(Reporting by Daniel Bases; Editing by Leslie Adler)

Read the original article on Reuters. Copyright 2018. Follow Reuters on Twitter.
Advertisement
Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.

Jump to

  1. Main content
  2. Search
  3. Account