Public-Private Partnerships Authority’s Proposed Regulation for the Procurement, Evaluation, Negotiation and Award of Partnership Contracts and Sale Contracts For the Transformation of the Electric System Under Act No. 120-2018, as amended
February 3, 2019
The Public-Private Partnerships Authority (P3 Authority) released a proposed regulation to establish the procurement, evaluation, selection, negotiation and award process for partnerships with respect to any function, service or facility of the Puerto Rico Electric Power Authority (PREPA) and sale contracts of PREPA assets related to energy generation. Among others, the proposed regulation provides guidance and procedures such as, but not limited to:
- Identifying the functions, services or facilities for which partnerships will be established.
- Identifying which PREPA assets related to energy generation will be sold or transferred through one or more sale contracts.
- Soliciting, obtaining and evaluating proposals for PREPA transactions.
- Selecting the entities or individuals that will enter into transformation contracts with PREPA.
- Negotiating and awarding transformation contracts.
The proposed regulation only applies to PREPA transactions as this term is defined in Act No. 120-2018, as amended. The PREPA transactions essentially refer to the partnerships or sale contracts involving PREPA assets related to energy generation.
Any comments to the proposed regulation must be submitted to the P3 Authority not later than February 15, 2019 @ 11:59 pm.
Goldman Antonetti & Cordóva, LLC stands ready to assist as you and your business adjust to Puerto Rico’s regulatory and legal changes. If you need further assistance in this area, please contact the following members of our firm:
Alicia Lamboy Mombille, Esq.
Gretchen Méndez, Esq.
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