NASSAU, BAHAMAS- Energy Minister JoBeth Coleby-Davis, during her contribution to the Mid-Year Budget Debate in the House of Assembly Wednesday morning, revealed that Bahamas Power and Light (BPL) will need a billion-dollar bailout to address its legacy debt and dire infrastructure upgrades.
The minister revealed that the power generation company has a whopping $500 million dollar debt and further asserted that BPL will need another $500 million dollar investment to upgrade its infrastructure to meet the energy demands of the country.
As tensions are also rising within unions representing BPL staffers, Minister Coleby-Davis assured BPL workers that the power generation company “is not for sale and no layoffs will be taking place.”
