Whitefish Energy company announced that it has made a decision to stop its work in Puerto Rico after Puerto Rico Energy Power Authority stopped payments owing the company $83 million.
"We stopped because of the financial situation, lack of payment with PREPA has gotten beyond its maximum threshold and what we can sustain as a business", Techmankski said.
Whitefish Energy, a tiny Montana company, was awarded a $300 million contract to help restore power in Puerto Rico.
Former U.S. President Bill Clinton visited Puerto Rico on Monday and met with those left homeless after Hurricane Maria hit the U.S. territory as a Category 4 storm.
"There is no basis for PREPA to withhold payments from Whitefish Energy", the letter said, referring to the Puerto Rico Electric Power Authority.
Two months after Hurricane Maria slammed into Puerto Rico, only 46.6 percent of the island's electrical grid is generating power.
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Negotiations will now continue but hopes of a deal being completed by Christmas have rescinded given the disparity in valuation. Whatever Ashley's valuation is, it does seem like he really wants out of the club once and for all.
A PREPA spokesperson told CNN the company would not give any statements on Whitefish until investigations into the company were finished.
Ricardo Ramos, PREPA's executive director, resigned Friday after documents revealed PREPA disregarded its own lawyers' advice when it agreed to sign the contract. "The reason is to prevent the process from being affected".
CNN reported in October that the FBI was investigating the Whitefish contract and last week a congressional committee heard that PREPA ignored its own legal advice before signing the deal.
Puerto Rico Gov. Ricardo Rosselló demanded the deal be voided, saying the controversy was a distraction.
Whitefish Energy halted restoration work in Puerto Rico Monday after the commonwealth's utility failed to pay more than $83 million it's owed.
He said Whitefish had done FEMA-funded projects in the past. "We have met the terms of the contract - including completing hard work on time and under challenging conditions".