Government advanced $45 million payment to Vitol for WAPA settlement

Government House said on May 1, 2023, that the Government of the Virgin Islands had advanced a $45 million payment to Vitol on behalf of the Virgin Islands Water and Power Authority under a negotiated settlement agreement.

According to the statement, the payment satisfied the initial $45 million required under the agreement involving control of propane terminals at WAPA’s Randolph Harley plant on St. Thomas and Estate Richmond plant on St. Croix.

Gov. Albert Bryan Jr. said the 35th Legislature had authorized the government to establish a line of credit to meet the payment deadline.

Official source: https://www.vi.gov/gvi-satisfies-initial-45-million-payment-toward-vitol-settlement-on-behalf-of-virgin-islands-water-and-power-authority/