Convergent Energy + Power’s Puerto Rico subsidiary has signed a power purchase agreement with the Puerto Rico Electric Power Authority. The agreement covers a 100 MW solar project and a 55 MW battery. It will be located in Coamo (Puerto Rico), a town in the southern-central region.
The solar-plus-storage system will be owned and operated by Convergent’s Puerto Rico subsidiary, Convergent Coamo. Subject to satisfaction of customary conditions, the system is currently expected to come online in 2024 and is part of a larger plan to accelerate Puerto Rico’s strategic clean energy transition.
Puerto Rico has set a goal to achieve 40% renewable energy in 2025 and 100% by 2050. This is based on its most abundant resources, solar and wind.
Convergent’s large-scale solar-plus-storage system is among the first awarded by PREPA in response to its multi-tranche solicitation effort to modernize Puerto Rico’s electric grid. Partnering with PREPA, Convergent will work closely with local stakeholders to increase the reliability of electricity for Puerto Ricans while supporting the commonwealth’s renewable energy goals.
“Puerto Rico has commendable renewable energy goals and is taking concrete steps to reach them. Convergent Energy + Power is ready to help Puerto Rico deploy more solar energy, accelerating the clean energy transition,” says Johannes Rittershausen, Convergent’s CEO. “We are thrilled to help bring cleaner, more reliable power to Puerto Rico with the help of our local partner Ashford Renewable, and PREPA.”