SolarMax to build 400MWh battery storage in Puerto Rico
SolarMax Technology said it has signed two engineering, procurement and construction (EPC) agreements for utility-scale battery storage projects in Puerto Rico valued at about $158.3 million in combined revenue.
The contracts were signed with Yabucoa BESS LLC and Naguabo BESS LLC and call for SolarMax to provide full EPC services for battery energy storage systems (BESS) located in Humacao and Ceiba. Under the agreements, the company will also acquire a 9% equity stake in each project entity.
Together, the projects represent 400 megawatt-hours of energy storage capacity. The systems are intended to support grid reliability and renewable energy integration by storing electricity for use during periods of peak demand.
“Securing projects of this size highlights SolarMax’s growing position in the utility-scale energy storage market,” said David Hsu, chief executive officer of SolarMax. He said the agreements are expected to add a multiyear revenue stream extending through 2027.
The EPC scope includes design, engineering, procurement, installation, construction, testing and commissioning. Company executives said the projects align with Puerto Rico’s efforts to expand clean energy resources while addressing grid stability challenges.
SolarMax said its minority equity participation in the projects is intended to support long-term performance and align its interests with those of the project owners.
