The Fiscal Supervision Board (JSF) has approved, with conditions, 11 contracts to facilitate the construction of 11 solar energy projects. The total value of the projects exceeds $5.07 billion. The JSF notified the Electric Energy Authority (AEE) that the agreements comply with the principle of promoting competition in the market and are not inconsistent with the AEE's fiscal plan.
However, the authorization does not mean that other issues, such as compliance with local and federal laws, rules, and regulations, have been evaluated. The companies involved are Aguirre Solar Farm, LLC; Caracol Solar Farm, LLC; Esmeralda Solar Farm, LLC; Santa Isabel Solar Farm, LLC; Guayama Solar Farm, LLC; Juana Díaz Solar Farm, LLC; La Tuna Solar Farm, LLC; Naguabo Solar Farm, LLC; Sabana Grande Solar Farm, LLC; Salinas Solar Farm, LLC; and Sierra Solar Farm. The JSF indicates that the AEE and the Energy Bureau must manage the solar energy portfolio and apply price adjustments to ensure the average price of the entire portfolio is $157 per megawatt.
The approval process was accelerated due to the country's energy crisis and the intention to preserve certain federal tax credits that are about to expire.