Projects

Dominican Republic

An executed power purchase agreement, a national commitment to clean energy, a waste challenge working to restore compliance, and a need for energy capacity to match one of the fastest-growing economies in Latin America.

Capacity

160 MW

Feedstock

2,000+ mT/day processed

Offtake

Long-term PPA executed

Milestones

1. 2021Engagement begins in the Dominican Republic with the owners of the Waste and Power Concessions which authorize an energy project to divert waste from landfill and generate combined cycle power in EcoParque Rafey Santiago
2. 2022Circon Energy Spanish Company (CESC) formed to hold Circon ownership in the project and afford protections under the bilateral investment treaty between Spain and the Dominican Republic
3. 2022Engagement with Moelis & Company to provide project modeling and investment banking services
4. 2023Fifteen-year Power Purchase Agreement executed between EdeNorte and Green Wheels Dominicana
5. 2024CESC acquires majority and controlling interests of Green Wheels Dominicana
6. 2024CESC establishes GWD Renewables for the manufacture of renewable commodities
7. 2025Engagement with Fluor to complete all pre-project financial closing design and engineering activities
8. 2025Secured final land needed to execute the project
9. 2025Engagement with CAMS to provide O&M advisory support for development and design activities
10. 2026Environmental and Social Impact Assessment completed and submitted
11. 2026Engagement with HAGECO to provide local engineering and construction support
12. 2026Circon FTZ formed to be operator of Free-Trade Zone for renewable commodities
13. 2022–2026Ongoing project development work: substantial engagement with government authorities regarding permitting, customs and project execution, establishing relationships with the local business community, working for contingent sources of feedstock, planning for construction permitting, identification of and engagement with an EPC contractor and major OEM equipment suppliers, engaging logistics and customs planning support, and continuing engagement with legal, tax and permitting advisors

Puerto Rico

A beautiful island that generates more waste than its landfill capacity can manage, and a power grid struggling to recover from years of financial challenges, natural disasters and reconstruction efforts that frustrate the people and industry who sustain this culture.

Stage

Certified and permitting

Capacity

up to 300 MW

Offtake

Private PPAs and grid wheeling

Milestones

1. 2018Engagement begins with the Commonwealth for a project which provides resilient baseload renewable generation and diverts waste from landfills as a usable energy source
2. 2021PREB formally approves the Regulation of Electric Energy Wheeling
3. 2023Circon, through the participation of its Chief Legal Officer, actively participated in a six-month stakeholder engagement process for the development of a Wheeling Services Agreement
4. 2024PREB formally approves the Wheeling Services Agreement
5. 2024Circon receives multi-category certifications as an Independent Power Producer, Electricity Service Company and Retail Electricity Supplier
6. 2024Circon's project is certified as a Strategic Project by the Puerto Rico Planning Board
7. 2025Circon awarded an Act 60 Green Energy Tax Exemption under Puerto Rico Act 60-2019. Application for an additional Act 60 decree for manufacturing and R&D submitted and under review
8. 2022–2026Ongoing project development work: securing of land, negotiations with industrial and private customers for power purchase agreements, working with multiple local sources to secure feedstock, planning for permitting under the expedited review available to a Strategic Project, identification of and engagement with an EPC contractor and major OEM equipment suppliers, and continuing engagement with legal, tax and permitting advisors