UGE, OTEPI install 1.2 MW of solar systems in Panama
Solar array. Author: Som Energia Cooperativa. License: Attribution 2.0 Generic.
US-based distributed renewable energy company UGE International Ltd (CVE:UG) and its local partner OTEPI Renewables have installed 1.2 MW of solar systems for Cochez y Cia SA in Panama.
The systems are located at six facilities of the hardware and construction material chain and are part of a portfolio of an estimated 22 sites that the partners plan to complete in the next 12 months, the two said on Wednesday. Having installed a 187.5-kW system at another Cochez facility earlier this year, UGE and OTEPI are to build a total of 4.5 MW across all of the locations of the retailer in Panama. This will be the country's largest commercial solar portfolio, according to the announcement.
The newly-commissioned installations, which use UGE inverters and monitoring systems, will offset up to 80% of the buildings' energy usage. Each array in the portfolio will qualify for net metering, which in Panama is allowed for projects below 500 kW, improving Cochez's return on its solar investment.
UGE and OTEPI signed a strategic agreement last year to serve the rapidly growing demand for rooftop solar in Central America and are working together on several solar projects for commercial clients, according to the announcement.