💧 Water and Power · U.S. Virgin Islands
WAPA board approved 120-day extension for Vitol asset transfer
Official document: https://www.viwapa.vi/docs/default-source/2023-pr/press-release---wapa-governing-board-approves-time-extension-for-asset-transfer-from-vitol.pdf?sfvrsn=4d0a0972_3
The Virgin Islands Water and Power Authority’s governing board approved a 120-day extension on August 4, 2023, for the transfer, settlement and release of propane infrastructure and related assets from Vitol.
The amended closing date was set for December 12, 2023, from the previous August 14, 2023, according to WAPA. The authority said the extension was intended to allow the parties to continue work needed to close the transaction. All other terms of the agreement remained unchanged.
The motion passed 3-1. Chairman Kyle Fleming, Secretary Juanita Young and board member Cheryl Jackson voted in favor, while board member Hubert Turnbull voted against.