"This has been literally years in the works. It is a historic event not only for GEBE but for Maho as well. We built our own power station to produce our own electricity in a time when the services that GEBE would offer were not as reliable or as efficient as they have become," Saro Spadaro explained.
"Our core business is not in the power business; it is the hotel and tourism business. We looked for an opportunity to divest from the power generating business and refocus on our core business. However, this opportunity did not arise until Mr. Brooks and his team at GEBE came along and understood our requirements as potential clients and made it possible for us to sign this historic agreement," CEO of the Maho Group of Companies Saro Spadaro added.
Maho started self generation in 1993 because GEBE did not have the necessary equipment needed to guarantee a steady supply of the group's electrical power generation demands. The company went into a partnership with Ormrod Power Ltd. to secure its energy needs and has been operating its own power plant ever since.
Over the years GEBE has made significant investments in its power plant generation capacity and island-wide distribution grid. GEBE now has some of the best electrical power production equipment in the Caribbean and is able to produce electricity reliably and at a relatively low cost. "GEBE has been operating on heavy fuel oil, which is significantly cheaper than diesel. Our investment in new Wartsila engines also allows GEBE to run more efficiently. The signing of this agreement also signifies the confidence that the Maho Group of Companies has in GEBE with respect to its power generation capabilities, infrastructure and human resources," ir. William Brooks, GEBE's Managing Director pointed out.
Maho was faced with rising operational costs over the years as their equipment started to age and would need significant investments to upgrade its production facility to produce electricity in a cost effective manner.
Managing Director of NV GEBE was especially proud at the signing because he has been working on this agreement for approximately two years. "This is a major accomplishment for GEBE," William Brooks stated, "attesting to our increased reliability and cost effectiveness that has been invested into the infrastructure of the company as well as its human resources," Brooks added.
After the formal signing ceremony GEBE has two weeks to complete the physical connection to the Maho Group of Companies electrical infrastructure. Once the electricity supply has been established the Maho power plant will fall silent.
