Genmoji, the leader in offgrid renewable energy integration in Puerto Rico, will be participating in this year’s Asociación de Constructores Opportunity Zones Conference, to be held at Puerto Rico’s Construction Association main offices in San Juan in January.
Genmoji is leading the charge for renewable energy microgrids to be included as an integral and essential part of any real estate development to be funded by an Opportunity Zone Fund (OZF). According to officials in Genmoji, the ROI aspect of an offgrid resilient energy system within any OZF real estate project can be significant.
”It can mean the difference between 10% vs. 50% returns for any of these projects in Puerto Rico”, said Francisco Laboy, Chief Strategy Officer for Genmoji. “The cost of energy provided by the main grid provider in the island is at least twice the price of most markets in the rest of the United States. Add to that the uncertainty of the future of PREPA (Puerto Rico Energy & Power Agency) as it is on the block for sale, and there is big chance whoever ends up controlling it, will have to put up a hefty bill to transform it and put it up to par with other grids in the continental US. This means big investments, that always trickle down to the consumer”, said Laboy.
Having a microgrid as part of a Real Estate OZ project can bring additional revenues over time, while providing unparalleled resiliency. The energy can be generated through renewable applications right onsite, and the excess production can be stored for use at night, or to sell back to the grid or to other microgrids within the vicinity for profit.
“OZ’s are an amazing way to bring in additional capital into Puerto Rico, as the island is pretty much almost 100% an OZ. The fact that microgrids are such amazing catalysts of change and development in Puerto Rico, their combination with OZ’s makes Puerto Rico the best social purpose driven investment right now in the country”, Laboy added.