FortisTCI Becomes Pelican Energy TCI with a Renewed Focus on Building a More Sustainable and Resilient Energy Future for the Turks and Caicos Islands

Vision Ridge to Seek to Modernize the Company’s Generation Assets to Reliably Meet Customers’ Growing Power Needs and Increase TCI’s Long-Term Energy Security

Vision Ridge Partners (“Vision Ridge”), a global sustainable real assets investor, today announced that funds managed by Vision Ridge have acquired FortisTCI Ltd. (the “Company”), the electricity utility company serving the Turks and Caicos Islands (“TCI”). Terms of the transaction were not disclosed.

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In connection with the ownership transition, the Company has rebranded as Pelican Energy TCI, reflecting its renewed focus on building a more sustainable and resilient energy future for TCI. With the support of Vision Ridge, the Company will continue to provide safe, reliable electricity service to its customers while seeking to improve its generation mix and grid infrastructure to meet TCI’s evolving economic and energy landscape.

“We are pleased to lead the next phase of Pelican Energy TCI’s growth and infrastructure advancement at a pivotal point in TCI’s power demand growth trajectory,” said Reuben Munger, Founder, Managing Partner and Chief Investment Officer of Vision Ridge. “We believe that the Company is well positioned to strategically improve its generation mix to meet this demand and to help ensure the reliable delivery of sustainable power on TCI for future generations. We and Pelican Energy TCI’s management are excited by the opportunity to closely collaborate with the TCI government as well as all Company stakeholders and the TCI community at large to effectively meet the increasing needs of local energy consumers.”

“Vision Ridge brings extensive experience investing in, leading, and transforming critical and complex energy solutions businesses across different geographies, and we look forward to this new chapter as Pelican Energy TCI with their partnership,” said Ruth Forbes, President and Chief Executive Officer of the Company. “As Pelican Energy TCI, we look forward to continuing to maintain the highest standards of safety and service excellence for our customers, while helping to address the long-term power needs and energy security of the Turks and Caicos Islands.”

Vision Ridge has a history of supporting a range of energy companies operating in different geographies, including wholesale power supply companies, solar developers, energy efficiency and storage businesses, as well as thermal generation, waste-to-energy, and renewable natural gas providers. Since its founding in 2008, Vision Ridge has invested in 26 companies across energy, transportation and agriculture, including 10 energy industry companies at various stages of development, such as GSSG Solar, Key Capture Energy, Vanguard Renewables, Guzman Energy, and Earthrise Energy.

About Pelican Energy TCI

Pelican Energy TCI is an electricity utility company serving energy consumers throughout the Turks and Caicos Islands. With a strong focus on providing safe and reliable electricity service, Pelican Energy TCI is working to build a more sustainable and resilient energy future for TCI. To learn more, visit www.pelicanenergytci.com.

About Vision Ridge Partners

By seeking to deliver superior investment returns, Vision Ridge mobilizes capital to address humanity’s greatest challenge: climate change. The Vision Ridge team seeks to leverage its diverse, complementary skillsets, deep industry experience, and strong network of relationships to execute investments across sustainable real assets, with a focus on energy, transportation, and agriculture. Vision Ridge manages approximately $5.1 billion on behalf of institutional investors globally, as of June 30, 2025. For more information visit: https://vision-ridge.com.

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