Marshalls Power Company Gets New US Funding MAJURO, Marshall Islands (Marianas Variety, May 19, 2014) — The Marshall Islands is the only United States-affiliated island in the Pacific to win a competitive energy grant this year from the U.S. Department of Agriculture. The grant demonstrates U.S. government recognition of a utility company that is implementing a reform plan to stabilize its operations, said the general manager of the Marshalls Energy Company. The Marshalls Energy Company late last week received a $1 million grant from the U.S. Department of Agriculture’s High Energy Cost Grant program to help it with purchase of fuel supplies. It was one of eight grants to power companies in the United States, Pacific and U.S. Virgin Islands. “The U.S is pleased to make this contribution toward the Marshall Islands’ energy security and is pleased that the U.S. Department of Agriculture is becoming such a strong partner with the Marshall Islands not only in this area, but also home loans, disaster preparedness and agricultural policy,” said U.S. Ambassador to the Marshall Islands Thomas Armbruster. Marshalls Energy Company general manager David Paul said the new grant shows that donors “recognize that MEC has a credible comprehensive recovery plan.” He said the grant application was a team effort of utility staff and he recognized his board chairman, Public Works Minister Hiroshi Yamamura, for unstinting support of the power company’s initiatives. “The grant signifies our effort to make the Marshalls Energy Company a viable and sustainable operation and to provide reliable power services to our customers,” Paul said. The U.S. ambassador observed that, “USDA is one of the many U.S. agencies contributing to the Marshall Islands’ future.” The $1 million will help the utility improve its cash flow and make timely payments to its diesel supplier, USDA said. “This will ensure that Marshalls Energy Company has sufficient fuel on hand at all times for power generation and sales to customers,” USDA said. Recently, the power company obtained a two-year waiver on debt payments to the U.S. Rural Utilities Service combined with a $2 million grant from the U.S. agency for engine repair work. It also received grants to purchase thousands of power meters that have now been installed in most Majuro homes and businesses, resulting in the power company collecting nearly $900,000 from customers.
Posted on: Mon, 19 May 2014 04:35:17 +0000
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