RE:RE:Puerto Rico Tranche 4It's the latest Request for Quotation from The Puerto Rican government for renewable energy projects i.e. wind, hydro, solar, battery, virtual, etc.
The previous Tranche 3 was cancelled because they felt the prices were too high.
They have also set a limit price of 12.5c/kwh. GRB's previous PPOA submission was less than 9c/kwh, inflation adjusted eventually to 12.5c/kwh, along with free batteries.
That has not been approved. Why not?
See below:
Eligible bid types are: - Renewable resources for a term of 25 years
- Standalone BESS for a term of 20 years, to be charged and discharged by LUMA
- Renewable resources co-located with standalone BESS will be accepted but individual contracts (a PPOA and ESSA) will be required.
Minimum requirements:
- Confirmed Site Control
- A viable plan to obtain financing
- A plan to begin commercial operations within 2 years of contract execution
- Demonstrated experience financing, constructing, and operating a similar project
- Pricing no greater than the fixed target price (no price escalation) of
- $125/MWh for renewable resources,
- $25,000/MW-mo for 4-hour energy storage systems, or
- $33,750/MW-mo for 6-hour energy storage systems.
- Firm and final pricing: there will be no refresh opportunity
I believe they are trying to rush this one for getting it approved before Trump enters office. They have never accomplished anything on schedule, so I wouldn't hold my breath.
PBJL's legal counsel left earlier in the year.
The new Govenor's agenda is to build gas plants.
Apparently Cliff Webb is no longer the company president and Luis Baco (the lobbyist) is taking his place.
Lots of questions, for sure.