Michael C. Sammartino, director of the Rhode Island-based Business Development Independence Bank, said he was surprised to learn that a 15-megawatt Aggreko generator costs $504,000 a month. Under the contract, moreover, CUC will not get to own the engine.
“I can get the CNMI a 15-megawatt Caterpillar plant for $10 million and the CNMI will own it,” Sammartino said in an e-mail. “We can use capital improvement project funds for the $1.5 million downpayment on the Caterpillar unit because the CNMI will own it.”
He said he offered to finance the generator for only $80,000 a month, saving the CNMI $424,000 in monthly fee compared to the Aggreko deal.
According to Sammartino, the Aggreko generator does not carry any warranty while the Caterpillar generator has full warranty.
“It is questionable if the Aggreko equipment can even be hooked up properly. The Caterpillar unit plugs right in…and is portable,” Sammartino said.
The Aggreko offer, he noted, “starts to charge you the minute the unit leaves their facility, not when it starts making electricity.”
According to Press Secretary Charles P. Reyes Jr., the governor met with Business Development Independence Bank representatives yesterday.
“The governor is open and receptive to all viable solutions for CUC, and he will continue to evaluate offers and proposals for the CNMI’s benefit from both a short- and long-term perspective,” Reyes said in an e-mail to Variety. “The governor…can look at offers and proposals from an objective standpoint, with only the best interests of the CNMI in mind.”
