US Virgin Islands utility signs PPAs for 18 MW of solar

US Virgin Islands utility signs PPAs for 18 MW of solar

06.06.2012: The Virgin Islands Water and Power Authority (WAPA) utility has signed power purchase agreements (PPAs) and interconnection agreements with three companies for solar installations totaling 18 MW, to be built in the US Virgin Islands. The companies are Toshiba International Corp., the Japan-based electronics manufacturer, Lanco Virgin Islands I LLC, a local renewable energy firm, and SunEdison LLC, a US-based solar developer. The projects will be developed on the Caribbean islands of St. Croix and St Thomas. “The 18 MW of solar power represents approximately 15 percent of the territory’s peak load demand and will help to reduce customer rates once fully installed,” says WAPA Executive Director Hugo V. Hodge Jr. The cost of the solar electricity will be between ¢14 and ¢24 per kWh, while the weighted average will be between ¢16 and ¢17 cents per kWh, according to WAPA. Construction is slated to begin in the first quarter of 2013 and the projects are scheduled to be completed later that year. Other utilities in the Caribbean are also in the process of closing agreements for large-scale solar projects, like the Caribbean Utilities Company (CUC), based in the Caymen Islands.... Source: Virgin Islands Water and Power Authority; summary: PHOTON http://www.viwapa.vi http://www.viwapa.vi/News/PressReleases/12-06-05/Solar_Agreements_Sign ed_at_Government_House_on_Monday.aspx

 

 

Monty Bannerman

ArcStar Energy

646.402.5076

www.arcstarenergy.com