Congressional HearingsInteresting to note that one of the 5 people who testified before Congress last week was Thomas Emmons who wisely disclosed, when introducing himself, that Pegasus was working with Greenbriar.
One of the few items that were submitted on camera was a statement by Greenbriar and it was actually submitted not by a witness, but by the member of Congress for Puerto Rico. I thank that's more than just interesting, perhaps signficant?
Lastly on this concept of federalization, which I've struggled with. When I look up the dictionary definition I find a few but none of them have to do with taking over the management and operations of a utility. Yet that's the first thing that comes to mind when I think about the federalization of PREPA!
Can you imagine the US federal government running a utility - anywhere? No one wants that, not the Congress, not the Administration and not Puerto Ricans. OTOH can you imagine handing over $6B ?? or whatever that no. is without a ton of control / and oversight over PREPA? Equally no way, not after the last few decades of political intervention and GROSS mismanagement and corruption.
So be FLEXIBLE in your definition of federalization. The key thing is not the term, which has NO DEFINITION until or unless it becomes a defined term in a contract!! Rather, the key thing is for Congress to come up with a model (legislation) that gives the US government oversight over spending to ensure that PREPA is finally operated professionally (operational, financial and social) and in the interest of Puerto Ricans; as well as in a way to bring Puerto Ricans on board as much as possible, which is also important.
And in that model, GRB is looking very promising because GRB's is a clean solar solution; it does not produce global warming carbon emissions (hello - PR is already hot and an island); it is not much more expensive oil and gas; it does not cost the US government or PREPA anything because all GRB needs is a guarantee of the power offtake that it will produce; it gets PREPA and Puerto Rico out of a MASSIVE US$951m lawsuit, one that because of its nature would actually survive bankruptcy.
Let's jsut say GRB ticks a heck of a lot of boxes!! DYODD and all that.