FortisTCI Signs MOU for the First Utility-Scale Solar System

Providenciales, Turks and Caicos Islands (Monday, August 31, 2015) – FortisTCI (the Company) has today signed an MOU with a local company on Providenciales for the commissioning of a utility-scale solar project. This MOU is the first step in what the Company hopes will be the first large-scale solar system interconnected to the country’s electricity grid.

In September 2014, the Company commissioned an independent renewable energy infusion study that identified how much intermittent power, such as solar and wind, can be accommodated on the T&D system. The study also determined how much of these renewables can be supplied to the grid without compromising integrity and reliability, and without increasing cost.

FortisTCI President and CEO Eddinton Powell said, “The Company is very enthusiastic about the potential of this project and partnering with this potential IPP in the generation of green energy. This project, and soon to be launched renewable energy programs for residential customers, will usher in a new era of green energy in the TCI. We know that this will not happen overnight, and we realize that this is still an expensive proposition. However, the Company believes that renewable sources of energy will play an increasing role in the Country’s energy mix as the technologies improve and become more cost-effective. The Company is equally adamant that renewable energy should not increase the cost to our customers, or undermine the safety and high-service reliability the country has come to expect from FortisTCI.”

The Company’s approach to the introduction of renewable energy sources is to carefully accommodate both utility scale and small scale residential solar systems that can interconnect to the grid within proposed limits. At this time, wind-powered systems cannot be accommodated on the grid, due to restraints placed by the Planning Department on the Company’s proposed wind energy pilot project.

Notes to Editors:

1) FortisTCI Limited (FTCI) became a wholly owned subsidiary of Fortis Inc. located in Newfoundland, Canada in August 2006. Turks and Caicos Utility Limited (TCU), which is the sole provider of electricity on the Islands of Grand Turk and Salt Cay, was acquired by FTCI in August 2012. FTCI is the sole provider of electricity in Providenciales, North Caicos, Middle Caicos, East Caicos and adjacent Cays, and South Caicos. Together the two companies serve more than 13,000 electricity customers in the Turks & Caicos Islands. The Utilities have an aggregate diesel-fired generating capacity of approximately 76.42 megawatts. Additional information on FortisTCI can be accessed at www.fortistci.com

2) Fortis Inc. is a leader in the North American electric and gas utility business, with total assets of approximately $28 billion and fiscal 2014 revenue of $5.4 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 www.fortisinc.com or www.sedar.com

CONTACT:

Allan Robinson
VP, Customer & Corporate Services
FortisTCI Ltd
Tel: 649-946-4313 Ext. 2507
Email: arobinson@fortistci.com

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