FOR IMMEDIATE RELEASE
January 28, 2026

Rio Grande, Puerto Rico — Bahamas Power and Light Company Ltd. CEO Toni Pratt shared The
Bahamas’ transformative vision for the energy sector with hundreds of regional energy leaders yesterday
at the Caribbean Energy Summit, underway in Rio Grande, Puerto Rico. While sharing on the topic,
“Investing in Energy Potential in the Caribbean,” Pratt not only highlighted BPL’s aggressive push
toward introducing a new energy regime, which includes solar power, Battery Energy Storage Systems
(BESS), and Liquefied Natural Gas (LNG), but she also challenged regional delegates to work together to
overcome logistical hurdles.

The Bahamas’ New Energy Era, a trifecta of resilient and sustainable energy options, continues to blaze
trails within the Caribbean, as many of our regional neighbors have marveled at the power generation
company’s ability to not only finance the billion-dollar rollout of solar energy farms, but to also do it in
tandem with the introduction of a cleaner fuel source and BESS.

“When we talk about investing in energy potential in the Caribbean, we are really talking about investing
in resilience, in sustainability, and in the future of our people. For the Caribbean, this is not just an
environmental opportunity; it is an investment opportunity. The New Energy Era is a comprehensive
reimagining of how energy is produced, financed, and delivered across our islands, because the old
energy model was no longer sustainable.”

Pratt shared that at the heart of this transition is a fundamental shift in how investment flows into the
energy sector. “Through a structured framework of Independent Power Producers (IPP), government has
enabled private sector partners to develop and operate solar farms under Power Purchase Agreements
(PPA) with BPL.”

She continued, “It’s a game plan which sold our IPP investors on a vision of a reliable and profitable
future, key components which shore up investor confidence in any business plan.”
Pratt pointed to the success of one of BPL’s earliest IPPs, Bahamas Utilities Company (BUC), which is
actively contributing to the grid, helping to lighten system load and reduce fuel consumption.
“Their production is enhancing operational efficiency and demonstrating the value of this partnership-
driven approach. Equally important is their role in helping usher in a historic milestone for The Bahamas:
the introduction of Liquefied Natural Gas (LNG),” she shared.

“LNG represents a critical transitional fuel in our New Energy Era. This is an investment in energy
potential that we look forward to reaping dividends from, while positioning us as a more sustainable
energy provider. We are already seeing tangible results, and BUC is proving how providing investors
with a mutually beneficial plan for change, and the breathing room to operate and deliver, creates a win-
win scenario for us all.”

BUC is currently governed by a 30-year power purchase agreement with government. BPL’s power
generation capacity in New Providence currently sits at 256 megawatts; however, BUC adds 62 additional
megawatts to the grid when at full capacity.

Pratt noted that Bahamians will continue to see the tangible introduction of renewable energy sources this
year, as additional IPPs come online throughout New Providence, Abaco, Eleuthera, Exuma, Andros,
Long Island, Cat Island, Bimini, the Berry Islands, and San Salvador.

Conference delegate Jose Sisco, Corporate General Director of Empire Gas in Puerto Rico, said, “She
presented to us future plans for power generation on your island, and I think that it is the right way to do
it. Find different sources of energy to provide people with reliable sources of energy – the people are the
most important thing, and what you (in The Bahamas) are doing right now is awesome. I think other
nations and islands need to follow what you are doing in The Bahamas.”

Meantime, Neil Smith, General Manager of the British Virgin Islands Electricity Corporation, applauded
government’s IPP program — a move which he admitted many other regional countries have been
unsuccessful in implementing.

“In the British Virgin Islands, I don’t think that there is any other way that we will be able to progress
with renewable penetration. So it was interesting to me because I was wondering, ‘Where does The
Bahamas get the funds from (for these projects)?’ and then she indicated that’s where IPPs step in,” he
said.

“IPPs, because of the inherent efficiencies associated with them, are a good idea to get funding to develop
energy production and distribution in a region.”

While conference delegates praised BPL’s transformative New Energy Era, they also supported Pratt’s
assertion that the region must begin to work more closely together to solve logistical challenges.
“The concept of One Caribbean, One Market is no new idea. It’s just an idea we have not been able to get
right just yet. Logistics, procurement, and planning done in isolation increase risks, but pooled demand,
shared logistics, and coordinated investment lower risk, lower costs, and make projects bankable,” she
asserted.

Pratt encouraged delegates to consider regional sourcing and shared warehousing.

“Right now, most utilities hold too little inventory, but acting as one market, we could treat spare parts as
regional assets without the logistical nightmare of waiting long periods for assets to be shipped – and let’s
be real; hurricanes are a reality for us every year. If we are able to put our heads together to climb this
regional hurdle of logistics, after a hurricane, restoration becomes a logistics operation, not a procurement
crisis.” She further opined that fixing logistical problems as one region positions the Caribbean as “not
just a place with sunshine, but a place where energy investment makes sense.”

Sisco, also impressed by the idea presented, chimed in once again: “I think that this is the right time to do
that because we are all small island nations in the Caribbean, but when all the small islands come
together, we can act as a huge ‘Caribbean nation.’ This is the time to do that, and for sure people from
Puerto Rico can help people in The Bahamas, or people in the Dominican Republic can help people in
Puerto Rico. All the ideas together can make something great.”

The regional conference, is being held at the Wyndham Grand Rio Mar, Puerto Rico and provides an
environment for regional energy leaders to share insights, engage in dialogue and network.