Grand Bahama Power Company Acquired by Bahamian Government | Energy M&A Deal

The Bahamian Government has acquired Grand Bahama Power Company, a utility services business in the Bahamas, for an undisclosed amount. Grand Bahama Power Company provides electricity generation and distribution on Grand Bahama, and the Bahamian Government acquisitions aim to reduce electricity costs for households and businesses. The government plans a utility services acquisition that aligns Grand Bahama tariffs with the Bahamas Power and Light schedule to lower bills for hotels, manufacturers, schools, churches, and restaurants. This energy M&A is a strategic acquisition and divestiture acquisition announced via a special purpose vehicle through the Grand Bahama Electricity Company, financed by a loan from Standard Chartered and Scotiabank with a government guarantee.