Updates on Upower Projects
PPA Contract # 002-2014 ENEE-PSE Executed Upower Honduras 50 MW
PPA Contract # 003-2014 ENEE-PRODERSSA Executed Upower Honduras 50 MW
Above are copies of Upower's actual signed, sealed PPA’s of the two 50 MW projects with the Government of Honduras and their National Electric Company, Empresa Nacional de Energia Electrica (“ENEE”), with Upower Honduras comprising of Pacific Solar Energy, S.A. de CV (PSA) and Produccion de Energia y Demas Renovables, S.A. CV (PRODERSSA) located in Nacaome, Honduras, currently called Solar Power Sociedad Anónima (SOPOSA) for the Nacaome site and by Compañía de Energía Solar Sociedad Anónima (COHESSA) for the Valle site.
Announcements of These Events:
http://www.marketwired.com/press-release/upower-inc-announces-execution-two-power-purchase-agreements-totaling-100-megawatts-1873067.htm
http://www.marketwired.com/press-release/upower-inc-provides-update-on-its-planned-solar-pv-power-plant-projects-in-honduras-1916273.htm
The Company
Mission Statement
To provide Renewable Solar Energy Solutions throughout the United States territories, while remaining as Environmentally Conscious as possible in the process.
General
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. Funded for $232MM in 2015 by a division of The World Bank, the Project 8404 was completed, and fully operational in the west coast city of Nacaome, Honduras, producing 100 megawatts an hour for the next 20 years, 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.
Upower is currently in consideration of participating in several Solar PV Projects in Joint Venture within the United States territories.
The Upower Honduras Projects are Completed.
3rd Party Proof of Prior Projects (Click Below Items)
- Industry News: Upower Completes 2 PV Projects Totaling 100 MWs in Honduras -
- WorldBank.org Snapshot of Project Upower Honduras Solar Power Plants #8404 -
- Map of Projects: See Google Maps of Upower Honduras Projects -
Upower ™ Benefits in Solar
By actively participating the renewable energy opportunities in Solar PV we can:
Reduce the cost of electricity for households and businesses.
Increase local participants and likelihood of private investments.
Improve energy efficiency and control electricity pricing, demand, and reliable sustainability.
Reduce the carbon footprint and emissions.
Enhance commerce and diversify the local job market with higher skilled, better paying jobs.
Reduce dependence on fossil fuels and its overall procurement, storage, transport, and hazards.
Help develop a framework that drives environmentally-friendly design and implementation.
Provide a reliable baseload of power generation, while allowing for grid expansion.
Reduce dependence on fossil fuels and its overall procurement, storage, transport, and hazards.
Help develop a framework that drives environmentally-friendly design and implementation.
Allowing for little to No Capital Expenditure for Projects.
No Oil/Diesel Purchase Costs.
No Currency Risk.
No Fuel Procurement Risk.
No Fuel Storage Costs.
No Fuel Transportation Costs.
No Plant Management, Operations, and Maintenance Costs.
Allowing for the Electric Company to be a Profit Center to their respective Governments, showing Social and Environmentally-Friendly Responsibilities, while improving current Carbon Emission conditions, while maintaining a long-term, reliable base load energy for their country and its People.
Independent Power Provider Becomes An Incubators of Opportunities
Through the lifetime of a renewable energy project, from inception to construction, a project goes through important milestones: project filing, “early-stage” development, Notice to Proceed (NTP) or “shovel ready”, and Commercial Operation Date (COD). The illustration below explains Upower’s Project Lifecycle
Each project Upower originates, contains the following “Shovel-Ready’ hallmarks:
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A site control land development process to identify and procure sites ideally suited for large scale solar farms. We selected these sites from many of options securing the best available sites primed for large scale solar projects.
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Engineering design, layout, zoning determination letters, and interconnection agreements. Upower has a team of elite interconnection specialist engineers that can push these projects through the interconnection process in a savvy and efficient manner.
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PPA negotiations are managed directly by our experienced executive team, to secure top-quality PPAs with utilities, government, national electric companies, and/or corporate offtaker buyers of electricity. The strength of the PPA determines the value of the project, as we’ve proven with Latin America’s Largest Solar Project to date Completed and Currently Operating in Nacaome, Honduras for the next 20 years.
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Negotiated superior pricing on both Equipment and EPC contracts, below utility-scale market prices, based on our volume and scale of projects and partnering with the world’s largest solar equipment manufacturer, GCL.
Our Data Rooms are organized to be as user friendly as possible. One will find individual project folders containing the following:
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Executive Summary
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Zoning Predetermination, Health Safety, EIA
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Design, CAD Files, Engineering
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Land Lease, Drawings, Road Access
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Site Location, Topography, Maps
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Feasibility Studies, Power Production, ProFormas
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PPA Terms and Conditions, Feed in Tariff
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Licenses, Permits
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Project Construction Timeline, Grid Connection
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Renewable Energy Laws
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Pictured Above: Upower ™ CEO/Chairman David Macias at Office of The Prime Minister.