By Annelia Nixon

Tribune Business Reporter

anixon@tribunemedia.net

Outlier Energy (Bahamas) Limited has announced that it has engaged Leno Corporate Services Limited to lead a capital raise for new power generation for delivery to Bahamas Power and Light (BPL) in the Family Islands. 

In a statement, Outlier said the initiative aligns with the Government’s national grid modernisation strategy.

The capital raise is for five microgrid projects awarded by the Ministry of Energy and Transport including Harbour Island, Moore’s Island, Staniel Cay, Black Point, Farmers Cay, and Bimini.

The statement said: “These projects are integral to the Government’s 2024 initiative to repower the Family Islands through renewable energy microgrids, promoting economic growth, job creation, and environmental resilience. After evaluating multiple Bahamian and Wall Street-based banks, Outlier selected Leno for its deep-rooted presence, its commitment to fostering local investment opportunities and its strong interest in Outlier’s mission to improve access to reliable power generation for the communities Outlier serves.”

Financing is expected to comprise of both equity and debt financing.

In accordance with the Ministry of Energy and Transportation’s mandate that at least 51 percent of the power generation ownership in the Family Islands be Bahamian, Outlier anticipates the projects will secure majority Bahamian ownership. 

“Leno’s capabilities and depth here in Nassau and across the Family Islands made the decision easy for us,” said Judson Wilmott, regional manager of Outlier Energy (Bahamas) Ltd. “Leno understands infrastructure investment here in The Bahamas and is unquestionably well-versed in serving investors in a way that supports their goals and ours. It’s a win-win.”

“This project goes beyond improving power generation—it’s about giving Bahamians the opportunity to invest in a sector that will shape our country’s future,” said Andre White, chief operating officer of Leno Corporate Services.