AG Solar One Plans To Add 100 MW Of PV Capacity In Puerto Rico

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AG Solar One — a new partnership formed between US wealth management company Greenbriar Capital Corp. and Canadian renewable energy firm Alterra Power Corp. — has plans to implement 100 MW of solar generation capacity in Puerto Rico.

The new partnership is owned 50/50 by the two companies, will secure a power purchase and operating agreement with the Puerto Rico Electric Power Authority.

Puerto Rico offers tax breaks for clean energy projects, and already has one of the five largest solar parks in Latin America. There has been a surge of solar projects in Puerto Rico thanks to new regulations introduced by the federal government to boost the solar project portfolio of the territory.

Puerto Rico is attempting to diversify away from expensive and dirty imported oil products and coal, which generate 83% of its electricity.

Hinting at further cooperation, Alterra CEO John Carson commented, “The  partnership may pursue other projects together as well, which will bolster  Alterra’s external growth plans and complement its internal growth projects such  as the JimmieCreek hydro plant.”

Greenbriar’s CEO Jeff Ciachurski added, “Alterra’s experience of owning and  operating wind, solar, hydro and geothermal makes the partnership with  Greenbriar a fully integrated renewable technology platform.”

Puerto Rico is a prime location for solar companies to expand into. It has good solar resources and good solar power incentives.