The government of Puerto Rico intends to transform and modernize the electric system through private operation or ownership of the assets of the Puerto Rico Electric Power Authority. The project includes the operation and maintenance of the Puerto Rico Electric Power Authority's (PREPA) transmission and distribution system. The system serves approximately 1.5 million customers across Puerto Rico.

The objective of the concession is delivering low-cost electricity to ratepayers of Puerto Rico, increasing energy resiliency and reliability, deploying new technologies, investment and financial strength and exercising industry best-practices and operational excellence for the infrastructure.

Puerto Rico Public-Private Partnerships Authority, which is responsible for the tendering process of the project has launched the market sounding for the project in December 2019. The RFQ for the concession is expected to be launched in the first quarter of 2020.