The Bermuda subsidiary of a Canadian electric utility holdings company has bought the main power company in the Turks and Caicos Islands.

Fortis Inc. said yesterday that through its Fortis Energy (Bermuda) Ltd. unit it had bought all of the outstanding shares of PPC Ltd. and Atlantic Equipment and Power (Turks and Caicos) Ltd. from TC Energy Holdings Inc. for about $90 million, including assumed debt.

Fortis, a St. Johns, Newfoundland electric utility holding company, said together, PPC and Atlantic serve almost 80 percent of electricity customers in the Turks and Caicos Islands. The combined defined asset base of the two utilities as at June 30 was about $50 million, the company said.