JEA formally launched the solicitation process for proposals for its privatization and other strategic alternatives to eliminate constraints to the Florida municipal utility's growth.
The JEA board on July 23 voted to allow voted to allow solicitation of interest in various ownership structures.
The solicitation is open to qualified firms in industry sectors including financial, technology and energy and water. The invitation to negotiate for strategic alternatives set minimum requirements, including, but not limited to, at least $400 million distributed to customers, at least $3 billion to the city of Jacksonville, and protection of employees.
"In today's dynamic energy and water environments, simply keeping up with everyone else is no longer enough. Creating and sustaining value depends on setting yourself apart in non-traditional ways and continually looking ahead to understand what drives superior financial performance, while exceeding the service, reliability and affordability demands of customers," CEO and Managing Director Aaron Zahn said in an Aug. 2 statement.
The deadline to submit replies and all required documents to the JEA procurement bid office is noon on Sept. 30. More information on the solicitation process can be accessed at JEA.com/StrategicAlternatives.