PREPA taking final steps towards PPOA agreement for Caribbeans largest solar facility

A landmark power purchase agreement for Puerto Rico’s sizable Montalva solar project will be signed within days, according to Canadian developer, Greenbriar Capital Corp. The Puerto Rico Electric Power Authority (PREPA) informed its Governing Board on April 30 that it has attained substantial progress on 7 of the 19 remaining amended and restated renewable energy PPOAs, and that they expect to reach a final agreement on these projects on or before the Board’s self-imposed deadline of May 15 (which constitutes a COVID-19 triggered 15-day extension from the original April 30 deadline).

The expectation for Greenbriar and PREPA is that a final resolution on the few remaining commercial issues should be achieved within the next week to ten days. Once built, the 80MW to 160MW AC Montalva solar project will be the largest solar energy facility in the Caribbean region and greatly assist PREPA and the Government of Puerto Rico in accomplishing its policy objective to achieve 40% power generation from renewable sources by 2025.