Fortis Inc. FTS-T has sold the dominant electrical utility in the Turks and Caicos Islands to a U.S. private equity fund, exiting an investment made when domestic politicians flirted with making the Caribbean country a Canadian province.

Last Wednesday, Fortis, based in St. John’s, sold a division that provides power to more than 15,000 customers on the tourist destination to Vision Ridge Partners. The New York-based fund manager has US$5.1-billion invested in sustainable energy, transportation and agriculture projects.

Fortis and Vision Ridge declined to disclose terms of the transaction.

Exiting the Turks and Caicos raised cash and simplified the company’s strategy and structure, said analyst Maurice Choy at RBC Capital Markets in a report. He said the transaction “should directio

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