StarSolar enters Puerto Rico’s renewable energy industry
VRM Companies, a developer with more than 45 years of experience in the real estate market, announced the launch of StarSolar, a solar energy proposal in Puerto Rico that seeks to position itself within the three main segments of solar energy: residential, commercial, and utility scale projects.
StarSolar is comprised of professionals with experience in the energy, construction, finance, and execution of investment projects industries. It is one of the few companies on the island with the intention of participating in all solar energy segments, “with the financial solidity to carry out these projects,” it stated.
VRM Companies has entered the island’s renewable energy segment “in response to the instability of the electrical grid and the fluctuating prices of electrical energy. With this new company in its business portfolio, VRM seeks to contribute significantly to the sustainable and reliable energy transformation on the island,” it stated.
StarSolar offers net metering solar systems, with back-up and solutions, in addition to financing options.
To date, the company has carried out more than 100 installations in homes and businesses, equivalent to more than 1 megawatt of renewable energy, and has letters of intent to install approximately 10 additional megawatts, at a cost of $25 million, a portfolio of contracts for energy support from the Department of Economic Development and Commerce (DDEC, in Spanish), in addition to negotiations with a portfolio of potential clients of more than 400 megawatts.
“We’re focused on materializing the energy transition in Puerto Rico, allowing our clients to maximize the capacity of the system, without impacting the appearance of the home,” said StarSolar President Rodrigo Zavala, who has more than 32 years of experience in the energy sector.
“We do it through technology, high-quality products and excellent service to our customers,” said Zavala. “We have an excellent group of associates and contractors, which allows us to serve our clients and provide high-quality solutions.”
Meanwhile, VRM Companies CEO Rafael Rojo said, “We share the collective frustration that Puerto Ricans have with the cost and quality of electricity service, and that is why as a local company we decided to step forward and be part of the solution. We’re convinced that solar energy represents the future of energy on the island.”
So, he said the company is focusing on all segments: solar farms, residential and commercial facilities.
“The current situation of our electrical system leads us to rethink [renewable energy] alternatives that are efficient, cost-effective, and environmentally friendly. The advantages of our experience in VRM Companies developing planned communities with more than 10,000 residences built and more than 250 square feet of commercial projects, and under the leadership of the great team of StarSolar, we feel confident that we are providing an excellent alternative to the local market,” he said.