Puerto Rico renewable energy procurement process hits snag
The third tranche of the Puerto Rican government’s renewable energy and storage procurement process has fallen through.
“Based on the prices for renewable energy and energy storage resources received in the early stages of the tranche 3 RFP, it is clear that the final costs - particularly when accounting for interconnection expenses - will be too high to provide ratepayers with fair and affordable electricity,” according to information from the island’s energy regulator PREB.
The tranche was launched last year and sought capacity and storage capacity of 1,000MW and 500MW, respectively, with proposals due and received on September 1, 2023. Participants and their offers have not been released due to confidentiality requirements.
PREB said that the selection committee determined that the initial tranche 3 pricing for solar projects, excluding interconnection costs, exceeded reasonable base price levels.
The watchdog added that several contracts under tranche 1 have been amended to address the impact of market conditions, particularly those resulting from COVID-19, highlighting that prices increased an average of 34% over original contract prices.
For tranche 2, a limited number of contracts were approved, with details also subject to confidential treatment.
In a resolution and order, available in the Documents box in the top right corner, the regulator recommended that all tranche 3 proposals be rejected, and the tranche terminated, and that a fourth tranche be launched.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Electric Power (Puerto Rico)
Consumer watchdog backs Puerto Rico battery storage plan
The island's energy regulator also releases an electromobility update.
Nudge for Puerto Rico plan to add 360MW energy storage
The proposal envisions adding battery energy storage systems at 13 existing facilities.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Electric Power
Get critical information about thousands of Electric Power projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Jaguar XVII Photovoltaic Plant (Uruquê Photovoltaic Complex)
- Current stage:
- Updated:
1 week ago
- Project: Jaguar I photovoltaic plant (Uruquê photovoltaic complex)
- Current stage:
- Updated:
1 week ago
- Project: Jaguar IV photovoltaic plant (Uruquê photovoltaic complex)
- Current stage:
- Updated:
1 week ago
- Project: Jaguar VIII photovoltaic plant (Uruquê photovoltaic complex)
- Current stage:
- Updated:
1 week ago
- Project: Ibicuitinga XVI photovoltaic plant (Ibicuitinga solar complex)
- Current stage:
- Updated:
1 week ago
- Project: Ibicuitinga XIX photovoltaic plant (Ibicuitinga solar complex)
- Current stage:
- Updated:
1 week ago
- Project: Ibicuitinga XVIII photovoltaic plant (Ibicuitinga solar complex)
- Current stage:
- Updated:
1 week ago
- Project: Ibicuitinga XVII photovoltaic plant (Ibicuitinga solar complex)
- Current stage:
- Updated:
1 week ago
- Project: Jaguar XII photovoltaic plant (Uruquê photovoltaic complex)
- Current stage:
- Updated:
1 week ago
- Project: Jaguar X photovoltaic plant (Uruquê photovoltaic complex)
- Current stage:
- Updated:
1 week ago
Other companies in: Electric Power
Get critical information about thousands of Electric Power companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Andes Mainstream SpA  (Andes Mainstream)
-
Andes Mainstream S.p.A. is a Chile-based renewable energy company and a subsidiary of Ireland's Mainstream Renewable Power. The company has a development portfolio that exceeds ...
- Company: Inelectra, S.A.C.A.  (Inelectra)
-
Inelectra is an engineering, procurement and construction company founded in 1968. The company has the experience, execution capacity and talent to undertake projects in the inf...
- Company: Grupo Isastur  (Isastur)
-
Isastur is a Spanish group of companies specializing in the development of infrastructure related to the energy sector. Founded in 1978, the company is headquartered in Asturias...
- Company: Tecnored S.A.  (Tecnored)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: 360 Energy Solar S.A.  (360 Energy)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Empresa de Generación Hidroeléctrica Dominicana  (Egehid)
-
Dominican Republic state hydro generator Empresa de Generación Hidroeléctrica Dominicana (Egehid), a subsidiary of state power holding company CDEEE, is engaged in the developme...
- Company: Níon Energia
-
The description contained in this profile is taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine tran...
- Company: Nucleoeléctrica Argentina S.A.  (NA-SA)
-
Nucleoeléctrica Argentina S.A. (NA-SA) is a state company set up in 1994 to build, launch, operate, maintain and withdrawal services of Argentina's nuclear power plants. Based i...
- Company: Empresa de Generación Eléctrica del Sur S.A.  (Egesur)
-
Empresa de Generación Eléctrica del Sur S.A. (Egesur) is a Peruvian state-run power company founded in 1994 and headquartered in Tacna aimed at generating and supplying electric...
- Company: Cemento Polpaico S.A.  (Cemento Polpaico)
-
Chile's Cementos Polpaico is engaged in the manufacture and supply of cement. It is the largest cement producer in the country with installed capacity of 2.7Mt/y. Its products a...