He judged that what the government of Puerto Rico needed to do at the moment was to purchase the three private electric companies operating in the island: the Ponce Electric Co., the Porto Rico Railway Light & Power Company, and Mayagüez Light, Ice & Power Co., and concentrate on building and island-wide energy infrastructure.
Fortunately, on 25 June 1938, the U.S. Congress amended the Organic Act of Puerto Rico to authorize public corporations to issuance of bonds without such condition.
Luchetti tried to take advantage of this federal initiative, but encountered opposition to this plan when the US-appointed Governor of Puerto Rico, Blanton Winship, vetoed the project in 1938 on the grounds that it was incompatible with the 1917 Jones-Shafroth Act.
However, on 2 May 1941, the newly appointed Governor of Puerto Rico, Guy J. Swope, approved Lucchetti's plan and signed the law creating the Autoridad de las Fuentes Fluviales.
[12] The creation of Fuentes Fluviales made possible the development of electric energy Puerto Rico needed in order to make possible the Operation Bootstrap industrialization that started in the late 1940s.