Early '90s: At the invitation of the Grand Bahama Power Authority (GBPA), Southern Company made its first offshore investment and acquired a 50% interest in Freeport Power Company.

1993: Mirant, Southern Company's international spin-off, acquired 50 percent of Grand Bahama Power Company (at that time named Freeport Power Company) and assumed management control.

April 15, 1993: ICD Utilities (ICDU)* was incorporated for the purpose of acquiring 50% of the issues shares in Grand Bahama Power Company. The authorized share capital of the company consists of 10,000 ordinary shares, par value B$0.10, all of which are outstanding. Their shares are traded on the Bahamas International Securities Exchange.

1996: ICD Utilities, the other 50% owner in Grand Bahama Power, sold 25% of its shares to employees and the general public and 25% to Mirant.

2001: Mirant's share of ICDU was reduced to 10%.

August 9, 2007: Marubeni Caribbean Power Holdings, Inc., a wholly-owned subsidiary of Marubeni Corporation of Japan, completed the purchase of equity shares of Mirant Caribbean Holdings, including 55% equity interest in Grand Bahama Power Company.

*ICDU shares are available on the Bahamas Stock Exchange.

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