Copyright thenassauguardian
Bahamas Grid Company (BGC) is looking for a new chief executive officer (CEO), a post on the company’s Facebook page indicates. Bahamas Power and Light (BPL) has a partnership with BGC, a new entity created to modernize the electricity grid. The partnership aims to resolve longstanding issues with power outages and improve the reliability of New Providence’s transmission and distribution (T&D) network. The partnership was just concretized in the summer of this year, and BGC is making moves with new hires, which now apparently includes a new CEO. The joint venture between BPL and BGC was established as a special purpose vehicle (SPV) through a joint venture between the Bahamian government and Island Grid Solutions, a company formed by US-based Pike Corporation. Under the 25-year agreement, the government owns 40 percent of the shares in BGC, while Island Grid Solutions holds 60 percent. The interim CEO of BGC is Mei Shibata, who is also the Co-CEO of Island Grid Solutions. The agreement also separates the management of the grid (T&D) from BPL’s other functions, a model common in the global energy industry to improve operational efficiency. The terms of reference for the position said that the prospective new CEO will serve as both a strategic business leader and a public steward, balancing commercial performance with social responsibility, and ensuring that the company meets the highest standards of governance, reliability, and public trust. “The ideal candidate is an accomplished executive with deep experience in the utility or infrastructure sector, capable of navigating complex stakeholder environments while driving measurable, results-oriented progress.” BGC is also looking for someone with a minimum of 10–15 years of senior executive experience in the energy, utilities, or infrastructure sectors, with at least five years in a top leadership role. While the partnership between BPL and BGC also includes the voluntary secondment of BPL workers, none of BPL’s current employees have decided to join the new entity.
