Microgrids are local area energy grid clusters, with the capability of interconnecting with other similar systems. Their independence affords them unparalleled resilience and offers the prospect of economic prosperity for small to medium sized communities.
Puerto Rico’s newly passed legislation, Law 258, allows for the first time, the development and formation of nonprofit energy cooperatives in the island. The law requires that each Coop be a non-for-profit organization, comprised of no less than 5 members, to support a community in its efforts to become more resilient and have access to affordable energy, and for it not to surpass 250 kilowatts of energy generation capacity. Genmoji is currently on multiple phases of development for several Coop microgrid projects around Puerto Rico. If your organization is interested in pursuing an energy coop microgrid project, please contact us here. Together, we can write the book of resiliency for the rest of the world.
Opportunity zones Microgrids
Opportunity Zones are census tracts generally composed of economically distressed communities that qualify for the Opportunity Zone program. These were created to stimulate private investment in Opportunity Zone communities in exchange for capital gain tax incentives. Puerto Rico is almost entirely zoned as an Opportunity Zone (OZ). As such, investing into qualified projects in Puerto Rico, which is part of the U.S. and is therefore protected by the same property rights and other legal regulations as are applicable in the mainland, is now a highly strategic investment for minimizing capital gains tax for investors who plan to keep their reinvested capital within the territory.
Many of the current potential OZ projects in Puerto Rico would require an energy microgrid element, to ensure energy resiliency, and long-term low energy rates. Genmoji has partnered with several OZ development organizations in PR, offering design, construction, implementation and maintenance of energy microgrids within Opportunity Zones.
Power Purchase Agreements
The environment has been a leading force in the development of the Netherlands. Over the centuries, in its quest to control and protect the environment, Holland has developed some of the world's most advanced environmental technologies. This environmental expertise is in demand worldwide. The country's progressive environmental policies and strong institutional management practices help to spur on continuing innovation in the field.
Genmoji has established a Special Purpose Corporation parallel to our legal entity in Puerto Rico, called Amsterdam Clean Energy (ACE). ACE is a conglomerate of Dutch, Puerto Rican and US organizations offering an array of energy generation technologies and services to deliver a complete long term PPA solution to large private, public, and cooperative clients in Puerto Rico and the Caribbean. These organizations include Atradius (Dutch Credit Insurance, Bonding), TSU Capital Group LLC (NYC based financial advisory), ECN and TNO (Dutch sustainable energy independent research organizations), Arcadis (Dutch Design & Consultancy firm for natural and built assets), Phoenix PIB (Dutch financing services), University of Delft (Dutch Research & intellectual capital sharing), Wind Energy Solutions (Dutch wind energy technology manufacturer), CPower (Dutch Solar energy solutions), Bredenoord (Dutch power generator and energy storage manufacturer), and Genmoji. With the financial backing of the Dutch Government, AAA credit rating, and the most advanced renewable energy technology, ACE delivers the lowest kilowatt hour rate in the region, all while providing unparalleled carbon footprint peace of mind.