SolarMax signs agreements for solar battery facilities in Humacao, Ceiba

The contracts, valued at some $158.3 million, cover full-scope engineering, procurement and construction services for a combined 400 megawatt-hours of battery storage capacity.

By THE STAR STAFF

SolarMax Technology Inc., an integrated solar energy company, announced Wednesday that its wholly owned subsidiary, SolarMax Renewable Energy Provider Inc., has signed two engineering, procurement and construction (EPC) agreements with Yabucoa BESS LLC and Naguabo BESS LLC for utility-scale battery energy storage system (BESS) projects in the municipalities of Humacao and Ceiba.

The contracts, valued at some $158.3 million, cover full-scope EPC services -- including design, engineering, procurement, installation, construction, testing, startup and commissioning -- for a combined 400 megawatt-hours of battery storage capacity. As part of the transaction, SolarMax will also acquire a 9% equity stake in each project entity.

“These projects underscore SolarMax’s growing presence in the utility-scale energy storage market,” SolarMax CEO David Hsu said. “They provide a significant multi-year revenue stream through 2027 and strengthen our forward revenue visibility.”

The installations are designed to enhance grid stability and energy affordability in Puerto Rico by storing renewable electricity for use during peak demand periods. They align with the island’s broader clean energy strategy and aim to improve grid reliability.

“Demand for large-scale energy storage solutions continues to accelerate,” Hsu added.