The Globe and Mail reports in its Monday edition that Fortis has sold its dominant electrical utility in the Turks & Caicos Islands to U.S. private equity fund Vision Ridge Partners, parting ways with an investment made during talks of making the island a Canadian province. The Globe's Andrew Willis writes that the sale involves a unit that serves over 15,000 customers. Vision Ridge manages $5.1-billion (U.S.) in sustainable energy, transportation and agriculture projects. Fortis and Vision Ridge did not disclose the transaction terms, but RBC analyst Maurice Choy noted that exiting the Turks & Caicos simplified Fortis's strategy and may improve its balance sheet. Fortis runs one of the largest U.S. electrical-distribution networks and owns utilities in Newfoundland and four provinces, as well as projects in the Cayman Islands and Belize. The sold utility had 170 staff and serves 3.5 million customers alongside 9,700 employees. Vision Ridge has renamed the Turks & Caicos company Pelican Energy TCI, previously FortisTCI. In 2006, Fortis bought the utility for $90-million (U.S.), including debt. In 2012, the parent company purchased a second Turks & Caicos power provider to extend its geographic reach.