MegaStorage, a Panama-based self-storage operator, will install solar-panel systems at its three Panama facilities, which will be designed to offset more than 30 percent of the electricity used to power the properties, according to a press release. The custom photovoltaic systems will be provided by engineering firm OTEPI Renewables and renewable-energy provider UGE International Ltd.
"In choosing to use solar, we reduce our electricity expenses, avoid the volatile price of electricity, and show a commitment toward the environment," said Orlando Wong, general manager of MegaStorage. "We are proud to be pioneers in the self-storage industry in Latin America, generating onsite electricity through solar modules."
MegaStorage made its decision following a recent partnership formed by OTEPI and UGE to increase renewable energy sources used by businesses in Central America. The two companies currently have 25 commercial sites under development in Panama and neighboring countries, according to the release.
"Panama has an abundance of solar resources," said Luis Paul, CEO of OTEPI. Solar power is also on the rise throughout Latin America. The region is on pace to add 2.1 gigawatts of solar capacity this year, according to GTM Research, a market research firm specializing in energy conservation and renewable power sources.
"Together, UGE and OTEPI offer businesses in Panama the ability to immediately lower their energy bills with onsite solar," said Frank Schreiber, head of business development for UGE in Panama. "We've already seen evidence of the rapid growth of distributed generation. Through this strong partnership, we are confident that we can meet this growing demand and continue to lead in the deployment of renewables across the country."
OTEPI Renewables specializes in distributed, renewable-energy solutions. It’s a subsidiary of OTEPI Group, an engineering firm founded in 1967.
UGE provides renewable-energy solutions for commercial and industrial clients. It has more than 2,000 installations in more than 100 countries, according to the release. It specializes in solar and “microgrid” energy solutions to reduce energy costs and increase sustainability.
MegaStorage built its first self-storage facility in Panama in 2010. It currently operates one location in Colombia and three in Panama. It also has two projects under development.