All costs for the energy system designs, engineering, equipment and installations, as per the agreement, will be borne by Aquentium.

Commenting on the development Aquentium President Mark Taggatz said that the goal of the joint venture in Puerto Rico would be to help the island meet its energy demands while reducing energy costs for its residents.

"Aquentium’s focus with Green Energy Systems Solutions will be commercial buildings and raw land that can be best utilized with solar energy or wind energy technology," added Taggatz.

The company is a diversified energy company with interests in waste-to-energy, solar energy wind energy and water treatment amongst other areas.