After receiving unprecedented approval and support from the municipal authorities, Onyx Service and Solutions, Inc. (ONYX) has executed a Letter of Intent (LOI) with the Honduran company BPRE to finance and construct an 18.5 megawatt solar power project for the island of Roatan, Honduras. The LOI is the first agreement between the parties for the project construction and precedes a Definitive Agreement that is expected before December 7 th of this year. The Definitive Agreement will detail all of the aspects of the project, to include final specifications, schedule, costs and payments to ONYX.
Project Engineer Rick Coens (L) and ONYX President Malcolm Burleson (R) going over construction documents (Photo: Business Wire)
Earlier this month, ONYX President Malcolm Burleson and Project Engineer Rick Coens conducted a formal presentation regarding the project to local government. Governor Shawn Hyde, Mayor Julio Galindo and a quorum of Council members at the Roatan Municipal Government chambers gave their full support to the project. The island’s administration has been looking for energy alternatives due to the rising costs of diesel- which Roatan currently relies on entirely. Thanks to the region’s sunny climate, solar power has been identified by Onyx and the government as an ideal solution. The project has been designed to generate 18.5 megawatts of power from more than 65,000 280-watt solar panels. Details of the new 18.5 Megawatt Solar project can be seen at http://www.solar-stock.com/solar-diesel-reduction.html - a copy of the project schematics can also be downloaded from the site. The Onyx Service & Solutions mission is to manifest cutting edge energy technology, products, manufacturing advances and construction projects to successfully compete in a global energy marketplace, which includes MEMC Electronic Materials (NYSE: WFR) (Empresa Nacional de Electricida (NYSE: EOC), MarkWest Energy Partners (NYSE: MWE) and ITC Holdings (NYSE: ITC)