Duke Energy is among four finalists chosen to compete for the right to take over Puerto Rico's troubled electricity distribution system.
Puerto Rico Public-Private Partnerships Authority announced the picks Jan. 17. The authority hopes a partnership with a private company will help modernize Puerto Rico's electric grid, which was severely damaged during Hurricane Maria in 2017.
"Under a public-private partnership we will be developing a system that responds to the real needs of our people, providing stability, reliability and efficiency to our island's energy system," the authority's executive director, Omar J. Marrero, said in a statement.
Other finalists are Exelon Corp., PSEG Services Corp. and a consortium of three other companies - ATCO Ltd., IEM and Quanta Services. The four finalists will now be asked to submit formal bids.
A spokeswoman said Duke is evaluating its next steps. She said the company is interested as part of its "commitment to make U.S. power infrastructure resilient to extreme weather."
A winner could be named later this year.
Duke Energy sent crews to the island to help repair damage after Hurricane Maria.
Jan. 17, 2019, Puerto Rico Public-Private Partnerships Authority announcement (PDF)
Dec. 27, 2017, Duke-Energy.com, "Duke Energy sending additional personnel, resources to accelerate power restoration in Puerto Rico"