WAPA Board and VI Electron Reach Agreement Behind Closed Doors Amid Unresolved Board Concerns

Amidst unresolved issues,WAPA board finalizes a contentious battery storage agreement with VI Electron, raising questions about transparency and due diligence in the decision-making process

When it came up for discussion during a board meeting on June 27, then-CEO Andrew Smith listed six “open items” that needed to be settled, and noted that the contract on paper did not reflect what had been subsequently negotiated. The open items presented risks to WAPA, Mr. Smith said, especially to the company’s already-precarious financial situation. Several board members agreed, objecting most strongly to the notion of paying for electricity produced by the battery system in addition to the base lease cost. “Why would we pay for something twice?” asked board member Lionel Selwood, in response to the troubling clause.

‌At that meeting, the board narrowly defeated a motion from former chair Kyle Fleming to approve the contract as written, and instead decided to return to the negotiating table to “iron out the pending outstanding items.” Only then would a motion to approve the lease agreement be entertained.

However, a July 15 press release from current board chair Hubert Turnbull, who moved the June motion to continue discussions with VI Electron, announced that a deal had been reached. The announcement claims that “the Board of Directors at WAPA has negotiated a fair and balanced agreement with VI Electron, ensuring that the interests of the Virgin Islands Community remain at the forefront.” The press release makes no mention of whether the “open items” that raised so much concern had been resolved.