Pelican Energy TCI Addresses Licence Extension, Fuel Tender and Government Relations

News Release

Pelican Energy TCI Provides Insight On License Extension Application, Fuel Procurement, and Governance Standards

Pelican Energy TCI confirms that it has applied to extend its public supplier’s license for Grand Turk and Salt Cay in accordance with the Electricity Act, which permits applications for license extensions to be submitted within ten years of the license’s expiry. The eligibility window has now opened for Grand Turk and Salt Cay, and the Company intends to pursue extensions for its remaining licenses as they become eligible.

The application is currently under review through the statutory process established by the Electricity Act and remains subject to the appropriate regulatory and governmental processes. This application represents an important step in supporting the long-term investment needed to maintain and strengthen the electricity system that customers rely on every day. The application forms part of the Company’s broader efforts to support long-term energy security, infrastructure investment, and the modernization of the electricity system. This process has also been publicly and transparently addressed previously by the Company’s President.

Electricity infrastructure, including power generation plants, transmission and distribution networks, and storm-hardening measures, requires substantial investment and is designed to serve communities over many years. A long-term license provides the certainty needed to plan, finance, and recover these investments over the useful life of the assets. Spreading infrastructure investment costs over a longer period can help support greater stability in electricity costs for customers while enabling continued investment in the network.

A modern, long-term license also provides the regulatory certainty that lenders and credit rating agencies consider when evaluating major infrastructure investments. This confidence can improve access to financing for renewable energy, battery storage, grid upgrades, and resilience improvements. For customers, these investments can support a more reliable and efficient electricity network and reduce the country’s dependence on imported diesel fuel.

As electricity demand continues to grow across the Turks and Caicos Islands, the electricity system must also evolve to meet the country’s changing energy needs. Timely investment is essential to maintaining reliable service, supporting homes, businesses, and tourism development, strengthening energy resilience, and providing the infrastructure needed to power sustained economic development across the islands.

Any future license will remain subject to the applicable regulatory framework, license conditions, and oversight mechanisms to ensure service standards are met. Pelican Energy TCI has a longstanding record of upholding high standards of safety, operational performance, governance, and reliability, supported by a strong commitment to delivering dependable service and exceptional customer experience.

Fuel Procurement and Renewable Energy Investment

Pelican Energy TCI continuously evaluates fuel procurement arrangements as part of its responsibility to maintain reliable service, prudently manage costs, and advance investment in renewable energy. A competitive procurement process is currently underway for the supply, storage, and handling of diesel fuel. The process includes multiple local and international bidders and follows a structured tender process designed to promote competition, transparency, and value. The request for proposals was publicly advertised through the Company’s website and local newspapers.

Longer-term fuel supply arrangements are common within the utility sector because they can support competitive pricing, supply security, and effective operational planning. Any future arrangement will be determined through a competitive evaluation process and based on the best interests of customers and the Turks and Caicos Islands.

The Company’s application to construct a 10-megawatt solar farm, battery energy storage system, and microgrid was also publicly advertised in local newspapers as part of the Government’s Physical Planning review process. This proposed investment reflects Pelican Energy TCI’s plans to expand the amount of renewable energy on the electricity grid thoughtfully while maintaining the reliability customers expect.

Governance, Transparency, and Public Confidence

Pelican Energy TCI’s engagement with the Government takes place through established institutional processes and regulatory frameworks, not personal relationships, familial or otherwise.

The Company interacts with the Government, the Energy and Utilities Department, Cabinet, the Governor’s Office, and other public authorities through formal channels governed by applicable laws, regulations, and corporate governance requirements. Decisions concerning licensing, regulation, rates, and policy are subject to official review and approval processes involving multiple stakeholders and oversight mechanisms.

Pelican Energy TCI recognizes that decisions concerning the electricity system directly affect customers, businesses, and the future growth of the Turks and Caicos Islands. The Company therefore supports a thorough and transparent review of its license application and welcomes objective technical, legal, financial, and regulatory assessments by the relevant authorities. It remains committed to providing information through the appropriate channels to support informed decision-making in the best interests of customers.

The Company is equally committed to ensuring that customers receive value through prudent and transparent procurement practices. For fuel procurement, Pelican Energy TCI uses a public, competitive tender process designed to promote fairness, accountability, and cost-effective outcomes. The current diesel fuel procurement process includes multiple local and international participants and follows a structured evaluation process intended to secure the best overall value for customers while maintaining a reliable fuel supply for electricity generation.

At the same time, licensing applications and commercial procurement exercises must be conducted within established legal and regulatory frameworks. While certain commercially sensitive information must remain protected to preserve the integrity of these processes, Pelican Energy TCI remains committed to cooperating fully with the government, the regulator, and other stakeholders while maintaining the transparency and accountability that customers expect.

Ultimately, Pelican Energy TCI’s focus is on delivering outcomes that benefit customers: reliable electricity service, increased energy security, strategic investment in modern and renewable energy infrastructure, and a stronger electricity system capable of supporting homes, businesses, job creation, and long-term economic growth across the Turks and Caicos Islands.