Sunshine Energy & Commodities
Solar & Battery Hybrid Projects
Sunshine Energy & Commodities (SEC) is also a globally recognized Solar & Battery Hybrid Utility-Scale Project Developer and Power Producer.
SEC, through affiliate Upower (UPI) is a decade-long experienced, value-added former majority shareholder of Upower, Inc., who developed Latin America's largest Solar Project to date in 2014-2015, together with The World Bank in a $232mm Project Financing, that was eventually sold-off to FinnFund, the Sovereign Wealth Fund of Finland.
Map of Projects (Click below to see map of completed projects): Google Maps https://maps.app.goo.gl/5DshKWuNYs1pzkC17
Upower, Inc. (UPI) is a global renewable energy holding company and developer. In January 2014, our subsidiary, Upower Honduras, signed a much-publicized 20-year Power Purchase Agreement (PPA) with the government of Honduras and their National Electric Company, Empresa Nacional de Energia Electrica (ENEE). Our two 50 MW Projects, PRODERSSA and Pacific Solar Energy (PSE), which when developed, became Latin America’s largest solar project to date at 100 Megawatts in August 2015. They were funded for $232MM in 2015 by FinnFund and a division of The World Bank, and are now completed and fully operational in the west coast city of Nacaome, Honduras, producing 100 megawatts an hour for the next 20 years, generating millions of dollars a year in net profit, now generating 120 gigawatts of electricity annually, for approximately 152,000 Honduran households. Our goal of making these projects a reality, now contribute to the 44% of the clean power generation Honduras is experiencing today and a great example to the rest of the world, according to Bloomberg New Energy Finance.
On January 23rd, 2014 the Honduran Congress ratified and approved the two (2) PPA’s PSA and PRODERSSA, published in La Gaceta. Upower Honduras, a subsidiary of Upower, Inc. of the United States, provided two (2) Sovereign Bank Guarantees from Banco Fichosa for PSE and from Banco LaFise for PRODERSSA totaling $4.35mm as the developer of the 100 MW projects in Nacaome, Honduras.
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After being granted the contracts for the 2 projects, Upower invested millions on this process for Upower Honduras, while completing the Feasibility Studies, starting the Environmental Impact Assessments (EIA), the Topographical Surveys and Geographical Studies, permits and licenses.
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Upower Honduras secured a long-term lease agreement in Nacaome, Honduras, located in the Valle Department (Western Region of Country) for several hundred acres to develop and construct the 2 projects.
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With the execution of our signed 100 MW PPA’s of $0.17.5 cents per KWh for 20 years, the side-by-side projects, PSA for 50 MW and PRODERSSA for 50 MW, became the largest operating Solar Plant in Honduras and throughout the entire Latin American region to date. Upower, Inc. believed it was in the best interest to Upower shareholders and the Government of Honduras that we negotiate our named project developments in Honduras to our local partners due to time constraints allowed for government financial bonus incentives mentioned. In October 2014 a decision was made that the two 50 megawatt Solar powered power plant PPA’s with the Empresa Nacional de Energia Electrica (“ENEE”) were to be completed by the Upower Honduras, Inc.’s former directors and local partners. The 2 Upower Honduras project names of PSA and PRODERSSA were then changed and the projects were sold, transferred, and completed by a group of private investors from Solar Power Sociedad Anónima (SOPOSA) for the Nacaome site and by Compañía de Energía Solar Sociedad Anónima (COHESSA) for the Valle site. Construction and Operation was funded and installed to completion in just 10 months on 974 acres of land at a cost of $232MM USD with the help of institutions providing financing, including our application with The World Bank’s International Finance Group and FinnFund. They are currently owned and operated by The Larach Group of Honduras.
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With the inauguration on Wednesday, May 6th, 2015 by the President of Honduras, the largest solar power project in Latin American history, and the most efficient worldwide, came online and producing power. In the end, Upower’s vision of roughly 2,500 direct and indirect jobs were created. The facility now has about 150 permanent employees for operation and maintenance. Our 100 MW projects now generate 120 gigawatts of electricity annually for approximately 152,000 Honduran households. Honduras major dependence on fossil fuels is no more.
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The date of filing of the corporation’s original Certificate of Incorporation in The State of Delaware was 08-16-2013 for Upower Honduras, Inc.. Upon completion of the projects being fully installed and operational generating power, a Certificate of Dissolution was filed and authorized on Upower Honduras, Inc. by Upower, Inc. on July 30, 2015.
Map of Projects (Click Here to see Google Maps of completed projects)
Press Releases:
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Upower, Inc. Provides Update on Its Planned Solar PV Power Plant Projects in Honduras
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See Below Upower Underwritings Funded by Sunshine Energy & Commodities of Both Project's Bank Guarantees and Performance Bonds
PSA Project During Construction
Announcements:
Sunshine Energy & Commodities to Develop The Saigeri 40MW SOLAR & Battery Hybrid Project in collaboration with Eco Cloud Consultants in Saigeri, Kibiko, Kenya. This new 2026 Utility-scale 40MW AC Solar PV + 160MWp Battery Energy Storage System (BESS) Project is designed to supply clean and sustainable electricity to the grid. The system integrates advanced Photovoltaic (PV) technology with a Battery Energy Storage System (BESS) to enhance grid stability and maximize power utilization.
Map of Project in Saigeri, Kibiko, Kenya (Click to see map of completed projects): Google Maps
Project Page:
