If you have any questions in regards to the above, please do not hesitate to contact our offices so that we may explain the amendments to the provisions of the Code in more detail. Our address is:
Fiddler González & Rodríguez, P.S.C., P.O. Box 363507, San Juan, PR 00936-3507. Our fax (787) 759-3108.
We welcome your questions and comments.
Eduardo Negrón Navas
Juan Carlos Gómez Escarce
María L. González Hernández
Pedro J. Reyes Bibiloni
On August 22, 2013, the Puerto Rico Energy Affairs Administration (PREAA) made available for public comment proposed amendments to its Green Energy Fund Regulation (“Regulation No. 8038”). Regulation No. 8038 applies to any party interested in receiving the incentives provided under the Green Energy Fund created by Act No. 83-2010. The proposed amendments will modify certain application processes, definitions, renewable energy credits ownership provisions, disclosure of submitted information, eligibility of project costs and PREAA time limitations to act upon an application, among others. The PREAA will accept comments to the proposed amendments to Regulation No. 8038 until September 21, 2013.
Regulation No. 8038 establishes the process, parameters, mechanisms and standards criteria for implementing incentive programs for eligible Tier I (0-100kW) and Tier II (101kW to 1 MW) renewable energy projects under the Green Energy Fund created by Act 83-2010. The available funds are awarded on a “first come, first serve” basis according to the submittal, evaluation and selection criteria established in Regulation No. 8038. PREAA indicates that these amendments pursue an update to comply with the current “realities of the industry.”
Please contact the members of Fiddler’s Energy and Utilities Practice Group if you wish to understand how these proposed amendments could impact energy project developments in Puerto Rico or to submit comments.
If you have any questions regarding this matter or would like to know more of our Firm’s experience in this area please call us. If you know anyone that would like to read the FGR Energy Watch, please feel free to forward this article. Stay tuned for further updates of FGR ENERGY WATCH.
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