News & Updates

March 22, 2017

Government Legislation Causes Repurchase of Grenlec Shares

Today Grenada Private Power Limited (GPP), the 50% shareholder of Grenlec, submitted its formal demand for the Government of Grenada to repurchase GPP’s shares in Grenlec. This demand was issued in accordance with the binding privatisation agreement (referred to as the Share Purchase Agreement or SPA) that Government entered into with GPP and GPP’s parent company WRB Enterprises Inc. (WRB) in 1994.