Upower, Inc. (UPI) is a global renewable energy holding company and developer. In January 2014, our subsidiary, Upower Honduras, signed a much-publicized 20-year Power Purchase Agreement (PPA) with the government of Honduras and their National Electric Company, Empresa Nacional de Energia Electrica (ENEE). Our two 50 MW Projects, PRODERSSA and Pacific Solar Energy (PSE), which when developed, became Latin America’s largest solar project to date at 100 Megawatts in August 2015. They were funded for $232MM in 2015 by FinnFund and a division of the World Bank, and are now completed and fully operational in the west coast city of Nacaome, Honduras, producing 100 megawatts an hour for the next 20 years, generating millions of dollars a year in net profit, now generating 120 gigawatts of electricity annually, for approximately 152,000 Honduran households. Our goal of making these projects a reality, now contribute to the 44% of the clean power generation Honduras is experiencing today and a great example to the rest of the world, according to Bloomberg New Energy Finance. Having a proven business model and experience, alongside access to financial and technology sponsors, Upower is currently in the process of procuring several microgrid and utility-scale renewable energy projects with Governments and National Electric Companies of countries such as Ghana (Africa), Bimini and Lyford Cay (Bahamas), Belize, Chile, Costa Rica, Cuba, Ecuador, El Salvador, Guatemala, Panama, Paraguay, Peru and South Africa. Upower is focusing mainly on existing power generation technologies, including but not limited to; Wind, Hybrid Fossil Fuels, Hydro, Biomass, and other Waste to Energy (WtE), and other power generation sources, with an emphasis on both Solar PV and Battery Energy Storage. Recently, Upower Chile has a big focus on the acquisition and development of Brine Pools and Lithium Mines for Li extraction and production for Commodities sales and transactions.
Today, Upower is in negotiations on several “Shovel Ready” fully licensed and permitted solar projects in Ghana (West Africa), ready to construct, with Power Purchase Agreements (PPAs) signed with the National Electric Company of Ghana (ECG), validated by the Energy Commission (EC), and recent reinstated pricing by PURC. Additionally, Upower, as Upower Bahamas, is in negotiations of two 15MW solar projects in Bimini and Lyford Cay in the Bahamas. Upower’s primary efforts and initiatives are to replicate our recent successful experiences, focusing on solar projects, now having gained access to financial sponsors and technology partners. Together, we can successfully fully execute these abilities repeatedly in these new geographic locations, benefitting in equity participation for Upower shareholders, partners, and affiliates alike. We are currently in the process of presenting and negotiating several renewable energy projects with a chosen sponsor. We are therefore implementing a strong capital raising effort, significant enough, that can result in strong equity participation in future projects and a long-term on-going business model for all parties involved.The goal is to generate electric power safely, cost-effectively, reliably and profitably. Our business model provides for the utilization of existing technologies, equipment, manufacturers, suppliers and contractors to develop, construct, engineer, refurbish, upgrade, supply and/or install the power generation equipment and facilities for UPI and/or UPI affiliates to operate as an Independent Power Producer (IPP).
The need of Electrical Power in Investment Grade Developing Countries is enormous. Without access to a reliable sources of Energy, Electrical Power, and Technology, countries will fall further behind alongside their GDP. Without theses sources provided by Upower, Communities cannot experience significant Economic Growth, Job Creation, Higher Education, and proper Socio-Economic Development in their Cities and Communities. The Promise of Solar has never been more attainable on a Global Scale. Upower’s Goal is to connect to National Electricity Grids across the world, helping to meet growing energy needs and reduce fuel emissions. Upower also believes Clean Energy should be available to everyone, even to the 1.3 billion people not currently connected to an Electricity Grid. That’s why we are offering Energy Access Solutions that provide a practical and affordable option for underserved Energy Markets across the Globe.
To provide Alternative Renewable Energy Solutions using Electrical Power and Energy Storage solutions, for Microgrid and Utility-Sized Power Plants globally, with a concentration on Solar PV Energy Projects and Lithium Production Facilities, while remaining as Environmentally Conscious as possible in the process.