With an investment that exceeds $583,000, BMF Water, a Caguas-based bottling company, recently finished installing a solar power system that will allow the company to reduce its energy costs by about $50,000 annually.
The project received a $349,000 incentive from the government’s Green Energy Fund, which has benefited more than 100 businesses and families throughout the island since its inception in 2010.
During a walk-through of the new facilities BMF Water President Luis Mayendía acknowledged that the government’s strategies to give companies access to incentives that help them cope with rising energy costs, are very positive and make it viable for them to grow and expand their operations.
“We’re grateful for the opportunity to receive this incentive that allows us to solidify and expand our operations, reduce our energy costs and continue serving Puerto Rico,” he said. From Caguas, we distribute the highest quality water — which we produce today thanks to the energy we receive from the sun — to families across the island.”
Law 83 of 2010, which created the Green Energy Fund, was evaluated and recommended favorably by the Senate’s Economic Development and Planning Committee chaired by New Progressive Party Sen. Norma Burgos, who was present during the visit. Burgos is currently running for mayor of Caguas.
“Our goal was to find alternatives for companies, businesses and individuals so as to reduce energy costs,” Burgos said. “With Mayendía’s testimony we confirm the benefits the law’s benefits on this Caguas company, which generates about 100 direct and indirect jobs, as well as in other companies.”
BMF joins other companies such as Camera Mundi and Walmart in Caguas, as well as a score of other industries, which have taken advantage of the Green Energy Fund program.