The Guam Power Authority recently signed two contracts with two renewable energy companies for a total of 120 megawatts of energy from utility-scale solar photovoltaics projects.
The Guam Power Authority said that the contracts will help it meet a renewable portfolio standard mandated by Guam public law under which it must have 25 percent of its energy supplied by renewable technologies by 2035.
On Aug. 22, the Guam Power Authority signed a contract with Hanwha Energy Corporation for a 60-MW solar project.
Also last month, the Authority signed a 60-MW power power purchase agreement with Korean Electric Power Corporation and LG-CNS Consortium to construct a facility in the Sasajan area of Mangilao, Guam.
Both projects are expected to be online by 2021 and will help the Guam Power Authority achieve and estimated savings of $43 Million in the first five years of operations, it said.
“With both contacts online in about three years and the award of its next 40 MW renewable bid, the Authority will exceed the 2035 mandate by 2021,” said John Benavente, the Authority’s General Manager.
