Renewable energy solutions company, Urban Green Energy (UGE), and energy infrastructure investment and development group, OTEPI Renewables, have formed a partnership to focus on commercial solar deployment in Panama.
The partnership marked its launch with the news it had secured an order to install the first ever net metered rooftop solar system in Panama and said it planned to follow this up with “multiple megawatts” of solar by the end of 2015.
“Panama’s economy is growing and solar energy is the ideal way to solve the business community’s electricity challenges,” said Joshua Rogol, business development director at UGE.
“UGE and OTEPI Renewables are working side by side to contribute to a rise in solar within the Panamanian energy matrix,” said Luis Paul, CEO of OTEPI. “We see immense growth in interest in this market over the next several years”
Earlier this year the Authority of Public Services of the Republic of Panama (ASEP) provided provisional licences for two solar power plants totalling 29.9MW to be built on the western coast of Panama.
Last month BNEF predicted that between 2014 and 2016 up to 477MW of new solar capacity will be installed across Central America, singling out Guatelama, Honduras, El Salvador and Panama as potentially promising markets.
Also this week, UGE and project investment and management partner, Fusion LatAm secured a US$450,000 contract to provide power systems for 90 telecommunications sites in Colombia, providing energy to the country’s most remote areas by the end of this year.
“Latin America’s commercial sector is rife with opportunity to utilize renewable energy,” said Itai Biederman, who leads UGE’s business development efforts in Latin America.