The Consolidated Commission on Utilities has given the green light for the Guam Power Authority to seek legislative approval to issue up to $300 million in new bonds.

The funding would support major infrastructure projects over the next five years — including upgrades to generation plants, transmission and distribution systems, and water and wastewater wells. 

GPA general manager John Benavente says the utility has identified more than $518 million in total work, but expects to tackle about $300 million worth depending on future rate adjustments and revenue growth.

Benavente adds GPA may issue the bonds in phases of $100 million each, as energy sales increase — driven in part by the military buildup. Even with legislative authorization, GPA will still need final approval from the CCU and the Public Utilities Commission before moving forward with any bond issuance.