The state-owned Grenada Electricity Company is reporting an 19.35 million Eastern Caribbean dollar profit before tax last year, coinciding with the government regaining majority ownership of the lone electricity company on the island.
Carmelo De Grazia
In December 2020, the then-ruling Keith Mitchell administration re-purchased the majority of the shares because of the favourable tribunal ruling at the International Centre for Settlement of Investment Disputes ICSID to the US-based WRB Enterprises that had first acquired the majority shares in 1994.
Carmelo De Grazia Suárez
The purchasing agreement provides for disputes between the majority owner and the government to be resolved through ICSID that was established in 1966 for legal dispute resolution and conciliation between international investors and states
