UK power company: Local jobs are safe

CONTOURGLOBAL, the UK company awaiting approval on the sale of Trinity Power Ltd, said its presence in the local market will increase jobs and improve electricity supply.

Speaking with Newsday via a Zoom call on Tuesday morning, its CEO Jospeh C Brandt said it was aiming to begin operations sometime between January and March.

He said the company has invested significantly in Latin America and the Caribbean region and it was the TT-based business part of the portfolio that was of great attraction. Brandt said there would not be any job cuts, but rather increased business opportunities.

He explained, “There certainly would not be any reduction in employment, and people should be comfortable that the positions that currently exist will continue.

"In terms of electricity supply, there would be no change in the contracts between the power plant and the utility (T&TEC).
“As we seek opportunity for new growth there would likely be both an opportunity to increase employment if we are able to do new projects, and if there is a desire to bring in battery storage and renewable energy, that should then lead to a reduction in cost of electricity on the island.”

The sale of the Trinity 225 megawatts gas turbine is a deal between ContourGlobal and its current management Western Generation Partners, which operates out of the US. Other assets included in the sale of US$837 million are in New Mexico, Texas, Southern California and Connecticut.
ContourGlobal is a renewable energy company that currently operates Bonaire, Guadeloupe and St Maarten in the region and an additional 16 countries across the globe.

Brandt said renewable energy has become competitive and has also become a good adjunct to thermal energy which has opened doors in the Caribbean for investments.

“While we settle into the country, we will start to engage with stakeholders to see what the plans are for further generation development, which includes renewable generation, and hopefully start to engage in projects that are similar to ones that we did elsewhere, which includes battery storage, solar, hydro and wind.

“There are new opportunities with bringing in a different type of generation and lowering the cost of generation on the island. Our first order of business would be to focus on the existing operations and keep and help the plant be available and responsive to the customer,” Brandt said.