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Luma Energy

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LUMA Energy: Company Research Report



Company Overview


  • Name: LUMA Energy

  • Mission: Transform the transmission and distribution electrical system to provide Puerto Ricans with a reliable, resilient, clean, and affordable electrical network.

  • Founded: Operational since June 1, 2021

  • Key People: Juan Saca (CEO), Shay Bahramirad (Senior Vice President of Engineering)

  • Headquarters: PO Box 364267, San Juan, PR 00936-4267

  • Number of Employees: Over 4,000

  • Revenue: No information is available

  • Known For: Operating the transmission and distribution system of Puerto Rico’s electric grid and focusing on improving its reliability and resilience.


Products


  • Products Offered: LUMA operates the electrical transmission and distribution system of Puerto Rico.

  • High-level Description: Managing and maintaining the electrical grid to ensure reliable energy distribution across Puerto Rico.

  • Key Features:

  • Transmission and distribution system operations

  • Infrastructure modernization

  • Customer-focused service


Recent Developments



New Projects and Partnerships


1. Inauguration of El Conquistador Substation Modernization:
  • Modernization of the substation serving 20,827 customers in Trujillo Alto and San Juan.

  • Work included replacing old transformers and enhancing overall reliability.

  • Part of a larger initiative involving 11 substation modernization projects funded by FEMA.


2. Collaboration with the American Red Cross:
  • A third consecutive annual collaboration with the American Red Cross to aid vulnerable communities.

  • Initiatives include educational programs to prepare children for emergencies and free smoke alarm installations.


System Improvements and Initiatives


1. Operation of Santa Isabel Transformer:
  • Successful operation benefitting over 24,000 customers in municipalities like Aibonito, Coamo, and Santa Isabel.

  • Completion of repair works on transmission lines, improving service reliability.


2. Elections Infrastructure Support:
  • Inspected over 1,300 voting centers in preparation for the November general elections.

  • Activation of an Incident Management Team to ensure electrical reliability during elections.


3. Continuous System Modernization Efforts:
  • Ongoing infrastructure improvements, including modernizing substation systems across Puerto Rico.

  • Use of advanced equipment to bolster grid resilience and reliability.


4. Public Safety and Awareness Campaigns:
  • Campaigns launched to educate about electrical safety and operational efficiencies.


Funded Projects and Enhancements


  • FEMA-funded Modernization Initiatives:

  • $101 million allocated for various infrastructure updates.

  • Approval and initiation of 349 projects with approximately $8.3 billion in federal funds.


Educational and Community Initiatives


  • LUMA actively participates in community-driven programs, extending educational initiatives to improve disaster readiness among children.


Revenue and Fiscal Metrics


  • Revenue: No specific financial revenue figures available.


In summary, LUMA Energy is extensively involved in the modernization and enhancement of Puerto Rico's electric grid. With substantial initiatives focused on improving infrastructure reliability, forming strategic collaborations, and enhancing customer service, LUMA is committed to providing foundational support for Puerto Rico's energy needs.