Panama, May 9, 2019. Greenwood Energy Latinoamérica has signed an agreement to supply a major shopping mall in Panama with a rooftop solar energy system designed to provide net-metered power for the next 25 years. Power generated by the solar panels is offset against electricity consumed. The installation will operate at a peak power of 4 megawatts and is expected to save the mall over $300,000 (USD) in electricity costs in the first year.
Net metering is a regulated procedure quantifying the net energy that organisations consume annually and represents the energy charged to your electricity bill. Greenwood Energy Latinoamérica customers therefore pay the difference between energy consumed and that generated by their on-site solar panels.
Greenwood Energy LatinoAmerica has a track record for providing grid-connected solar energy facilities for both Net Metering and Power Purchase Agreement applications. The company draws upon the expertise and track record of its USA-based sister company within the Libra Group, Greenwood Energy, which has developed 82.98 MW solar PV in four portfolios since 2013.