He said the contract with the U.K.-based power firm Aggreko International Projects Ltd. amounts to $6 million because CUC has option to take advantage of 15-megawatt power engines.
But despite this type of an arrangement, CUC customers will still pay 5 cents per kilowatt hour under 10-mw, Muna said.
According to a copy of the contract, Aggreko will provide CUC with 10 megawatts of power for a period of 52 weeks.
CUC is trying to secure a $4 million loan from the Marianas Public Land Trust to make an initial payment of $1,512,000 to Aggreko.
In his letter to Variety, former CUC Executive Director Ramon “Kumoi” S. Guerrero noted that CUC changed its contract with Aggreko by increasing the original 10-megawatt power to 15, and by extending the rental period to December 2010.
“Now, if this is true, some one has lots of explaining to do,” Guerrero said.
Variety estimates that given the initial payment to Aggreko, plus the monthly billing of $504,000 under the 15-megawatt power generation, the CUC-Aggreko deal will cost about $7,560,000.
