FOMB-Approved Projects to Push Green Energy Share to 23 Percent
18 Renewable PPOAs Conditioned on Cost Controls

As Puerto Rico’s Financial Oversight and Management Board (FOMB) “conditionally” approved last week 18 proposed power purchase and operating agreements (PPOAs) between the Puerto Rico Electric Power Authority (Prepa) and 15 companies that would increase the renewable energy share of utility generation from the
current three percent to 23 percent by 2024, the board assured it would use Title V of the Puerto Rico Oversight, Management and Economic Stability Act (Promesa) to expedite permits for privately owned renewable energy projects.
The board-approved contracts, which had been authorized by the Puerto Rico Energy Bureau (PREB), will provide 844 megawatts (MW) of renewable energy for the island. The projects constitute the first tranche of several, making up more than 3,700 MW that PREB has required through a competitive process.
The regulator had hired New Hampshire-based Accion Group LLC in December to speed up the bidding processes for the installation of renewable energy and battery storage in the grid after PREB Chair Edison Avilés Deliz determine…
To read the entire story subscribe now to our epaper at caribbeanbusiness. com
Related Posts
Latest News
-
Being Vigilant of the 7 Benchmarks to end 2022
We are just about to end the fourth quarter of...
- Posted November 22, 2022
-
Inflation Heading Down, What Happens Now?
The Four Benchmarks to review that confirm inflation may be...
- Posted November 14, 2022
-
The Six Factors to Expect during the end of 4Q22
We are deep within the fourth quarter we thought it...
- Posted November 10, 2022
-
Puerto Rico Banks Deliver strong earnings, beating most banks
Puerto Rico Banks Transformed their operational model The Puerto Rico...
- Posted November 9, 2022
-
US Congress Discrimination affecting the Puerto Rico’s Healthcare Ecosystem
The market dynamics that changed the Healthcare Ecosystem as we...
- Posted November 8, 2022
-
MCS contributes over $5 million to support member healthcare
The insurer distributed the amount among 409 community pharmacies in...
- Posted November 7, 2022
-
Droguería Betances Launches 60th Anniversary Ad Campaign
Droguería Betances has launched a new advertising campaign, “60 Reasons...
- Posted October 31, 2022
-
Puerto Rico Food Industry Helps Communities in Aftermath of Hurricane Fiona
Over three-quarters of a million dollars in aid to...
- October 24, 2022
-
Medplus Solutions celebrates 10 years Saving Lives
Innovation and continuous growth Expansion of specialized and more...
- May 18, 2022
-
Amazon Web Services Expands Operations in Puerto Rico
Local Office Will Offer Services to other Caribbean Islands...
- April 22, 2022
-
García Padilla: Rubio Is No Friend of Puerto Rico
Governor Says Rubio's Remarks Confirm he Works for 'Vultures'
- February 26, 2016
- 15
You must be logged in to post a comment Login