Puerto Rico: Polaris Renewable Energy Inc. has announced that the Governing Board of the Puerto Rico Electric Power Authority (PREPA) has approved the Battery Energy Storage System Standard Offer Agreement (SO1 Agreement). The approval was granted during a meeting held on 19 February 2026, with formal notice received by the company on 27 February.
The storage project will have a total capacity of 71.4 MW and will provide energy storage services, including capacity and grid support. Once the system is built and begins commercial operation, the resource provider will receive monthly fixed and performance-based payments from PREPA over a 20-year contract term.
The agreement will be executed between PREPA and Polaris Power US, Inc., a wholly owned subsidiary of Polaris. The next step in the process requires approval from the Financial Oversight & Management Board (FOMB) of Puerto Rico before the agreement can be finalised.
The project forms part of the Puerto Rico Accelerated Storage Addition Program (ASAP), an initiative designed to improve grid reliability through the deployment of large-scale battery energy storage systems located alongside existing power generation facilities.
Under the agreement framework, Polaris Power US will act as the resource provider responsible for installing and operating the battery energy storage system. The system will be located at the Punta Lima site, where Punta Lima Wind Farm, LLC, another Polaris subsidiary, operates the existing wind generation facility.
Source: Polaris
