Caribbean Utilities Company, Ltd. Successful Bidder to Build New Generation on Grand Cayman

10/06/2014 07:07 EST

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR - Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS) announced that the Electricity Regulatory Authority ("ERA") has selected the proposal of Caribbean Utilities Company, Ltd. ("Caribbean Utilities") (TSX:CUP.U), the Corporation's operating utility on Grand Cayman, Cayman Islands, to build new generation capacity in response to the ERA's request for proposals issued on January 31, 2014. As a result, Caribbean Utilities will develop and operate a new 39.7-megawatt ("MW") diesel power plant, including a 2.7-MW waste heat recovery steam turbine. The project cost is estimated at US$85 million and the plant will be commissioned no later than June 2016.

About Caribbean Utilities

Caribbean Utilities provides electricity to Grand Cayman, Cayman Islands, under an Electricity Generation Licence expiring in 2029 and an exclusive Electricity Transmission and Distribution Licence expiring in 2028. Further information is available at Fortis holds an approximate 60% controlling ownership interest in Caribbean Utilities.

About Fortis

Fortis is a leader in the North American electric and gas utility business, with total assets approaching $25 billion and fiscal 2013 revenue exceeding $4 billion. Its regulated utilities account for approximately 93% of total assets and serve more than 3 million customers across Canada and in the United States and the Caribbean. Fortis owns non-regulated hydroelectric generation assets in Canada, Belize and Upstate New York. The Corporation's non-utility investment is comprised of hotels and commercial real estate in Canada. For more information, visit or

Forward-Looking Information

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Fortis Inc.
Mr. Karl Smith
Executive Vice President, Chief Financial Officer
(709) 737-2822

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