Add heavy cream, water, grits, butter, and salt to a medium sized heavy bottom pot, over medium-high heat, and whisk to combine.
Once the mixture begins to boil, reduce the heat to low and cover with a tight fitting lid.
Continue cooking over low heat for 25-30 minutes, stirring occasionally. The grits are done when the majority of liquid has been absorbed and the grits are nice and creamy.
Remove from heat and stir in the shredded cheese. Set aside.
For the shrimp:
While grits are cooking, season the shrimp with a little salt and pepper (about 1 tsp kosher salt and ¼ tsp black pepper) and set aside.
Place bacon in a large skillet over medium heat. Cook bacon until it becomes crispy, flipping halfway. Remove bacon from skillet. Drain the bacon drippings from the skillet, leaving behind about 1 Tbsp of bacon drippings in the pan. Return the pan to the heat.
Add onion and bell pepper and sauté for 3-4 minutes, until the onions have softened. Add the fire roasted tomatoes, sour cream, Worcestershire sauce, brown sugar, and red pepper flakes and stir to combine.
Add shrimp to skillet in the sauce, in a single layer, and cook for 3 minutes per side, until shrimp is pink and cooked through. Remove from heat.
In each bowl, place grits in the bottom of the bowl. Top with the shrimp mixture, then top with bacon and chopped green onions. Serve and enjoy.
If planning ahead, you can soak the grits in the water overnight. Don't drain them, just pop the pot right on the stove and the released starch gets them extra creamy. They also cook a little quicker too using this method.
These grits are Southern style because of the added cheese and bacon. You don't have to add the cheese or the bacon, but it really does elevate them.
Take care not to overcook the shrimp, they only need a few minutes each side to cook through.