Energy Watch

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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

(787) 759-3106

enegron@fgrlaw.com


Juan Carlos Gómez Escarce
(787) 759-3166

jgomez@fgrlaw.com

María L. González Hernández
(787) 759-3173

mlgonzal@fgrlaw.com

Pedro J. Reyes Bibiloni

(787) 759-3208

preyes@fgrlaw.com

 

GREEN ENERGY FUND REGULATION TO BE AMENDED

 

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.

©2014 FIDDLER GONZÁLEZ & RODRÍGUEZ, P.S.C. Permission is granted to view, store, print, copy or distribute the content of this article for noncommercial or personal use, provided you do not alter it and you give us proper credit.

The content of this article is for informational purposes only. It is not legal advice or advertising. In addition, the above discussion has been provided in general terms and, therefore, should not be relied upon as legal advice applicable to a specific set of facts and circumstances. Before taking legal action, consult a lawyer you trust. Although we will try to be accurate, you cannot rely on its applicability to your specific problem without consulting your lawyer. Fiddler González & Rodríguez, P.S.C. and the members of the Energy Practice Group assume no responsibility to inform you of additional changes in law or any other legal issues related to matters addressed in this email of which we may become aware after the date hereof.

***IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any United States federal tax advice in this communication (including any attachments) is not intended or written by Fiddler González & Rodríguez, PSC to be used, and cannot be used, for the purpose of (i) avoiding any penalties under the Internal Revenue Code, or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. ***

 

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