On
Wednesday, September 2, 2009, a breakfast energy conference at the Banker’s
Club sponsored by PIA-PR Affiliate Member One Planet Energy, LLC
(One Planet) attracted a capacity attendance of executives from Puerto
Rico’s largest biopharmaceutical companies. Hunton and Williams Partner Laura
Jones, Esq. gave a presentation on how federal incentives will be applied
by One Planet for renewable energy projects specifically designed for
pharmaceutical plants on the island. Hunton
and Williams is One Planet's
federal tax counsel and a prominent mainland-based legal firm. A key component
of the incentives package is a federal grant which One Planet will use
to reduce its energy generation costs. To qualify for the grant program—which One
Planet worked with Federal legislators to be applicable in the Commonwealth—One
Planet must begin construction on projects in 2010. FiddlerGonzalezRodriguez Partners and
One Planet Legal Counselors César Gómez and Pedro Reyes
gave a presentation on how One Planet will use local government
renewable incentives and a description of the permitting process which One
Planet will use to build renewable energy generation within several large
pharmaceutical companies on the island. Puerto Rico Industrial Development
Company (PRIDCO) Executives Javier Vásquez and Jorge
Junquera contributed by offering the government’s perspective on local
energy initiatives. PRIDCO—who has assisted One Planet in obtaining
Industrial Tax Exemption certification that allows a 35% tax credit
for its energy customers—will also assist One Planet through the permitting
process for its renewable energy projects. PIA-PR Affiliate Member
Johnny Rullán & Company offers One Planet green energy solutions
for its pharmaceutical plants which reduce and fix, for a term of 12 to 20
years, a plant's energy costs by as much as 50%, after taxes, below current
energy prices. In addition, One Planet’s technology reduces the carbon
footprint of the average plant by an average of 50%. One Planet funds
all capital costs associated with its energy solutions, including engineering
studies, and offers Power Purchase Agreements (PPAs) at a fixed price for the power it generates during a 12- to 20-year
period. One Planet has executed Letters of Intent and is
finalizing PPAs with 20 large pharmaceutical plants in Puerto Rico.
One Planet’s unique approach uses a commercially proven biomass
gasification process to generate base-load power and solar PV for peak
shaving power at large industrial plants.
