Thursday, July 24, 2008

CUC announces wind project request for expressions of interest

GRAND CAYMAN, Cayman Islands, July 24 2008 - Caribbean Utilities Company, Ltd. today announced that it will formally request expressions of interest from qualified wind generation developers for wind generation project of up to 10 megaWatt ("MW") on the island of Grand Cayman, Cayman Islands.

A formal Request for Expressions of Interest will be posted on the CUC website.

In 2003, CUC completed a 12 month, two-site wind study with the support of an independent consultant. At that time, wind generation was not considered viable based on the measured wind intensity and duration and the lower cost of the prevailing diesel generation. CUC believes that this source of energy may now prove viable with reasonable assumptions regarding future fuel prices, capital costs and operating costs.

CUC currently relies upon diesel generation to produce electricity for Grand Cayman. CUC's power system is comprised of 17 generating units (15 diesel and two gas turbines) with a combined capacity of 136.6 megaWatts.

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