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Six companies have been cleared to press ahead with the construction of large-scale PV plants in Puerto Rico.
The Caribbean territory’s energy regulator AEE said it had renegotiated cheaper power purchase agreements with the companies and was close to closing a seventh deal.
AEE announced last year that it would renegotiate previously agreed PPAs with renewable energy developers in order to drive down prices.
At the same time AEE said it was introducing new rules making it mandatory for renewable energy developers to include an energy storage system in projects equal to 30% of the project’s rated capacity.
The body this week said the renegotiated PPAs would save it a total US$60 million.
“The authority reached settlements with six companies [who will] now produce energy through photovoltaic systems. These electricity companies produce at reasonable prices, as promised. We’re giving continuity to renewable energy projects, but <span title="de manera responsable, velando por el interés público y siendo justos con todas las partes" ,="" expresó="" alicea="" flores.="" ="" "="">responsibly, ensuring the public interest and fairness to all parties,” said John F. Alicea Flores, executive director of the AEE.
The projects, of an unspecified capacity, will contribute towards Puerto Rico’s goal of deploying 600MW of renewable energy generation by the end of next year. Together they are expected to increase Puerto Rico's total current renewable energy capacity to 375MW, AEE said.
Companies involved in these projects are: Horizon in Salinas, YFN Yabucoa in Yabucoa Solar, Oriana in Aguadilla, San Germán Solaner, Grupotec in Hatillo and Athens Solar in Manatee.
Flores added: "When we took over the reins of the public corporation, we found more than 60 renewable energy contracts awarded by the previous administration, without the appropriate parameters that were consistent with the capacity of our electrical infrastructure. Such contracts also have onerous conditions <span title="la compra de energía lo que amenazaba con aumentar el ya excesivamente alto costo de la electricidad en Puerto Rico" ,="" sostuvo="" el="" funcionario.="" ="" "="">purchasing power that threatened to increase the already excessively high cost of electricity in Puerto Rico.”