vegas electric timeline

1987 

Vegas Electric is founded

Vegas Electric (VE) was founded in 1987 by Charles George, an electrical contractor from the United States.  The first VE project involved the installation of custom-fabricated generator switchgear for a seafood processing plant.  This initial project was followed by the design and installation of an electrical distribution system, a power generation plant, and switchgear for a supermarket. Prior to 1992, there was no public utility grid on Roatan, and independent-owned and operated power generating systems provided energy for each facility.

1990 - 1999

Renewable Energy oportunities

VE began to install small off-grid renewable energy systems that included solar PV, small wind generation, and solar direct water pumping.  Through the 1990s our business model remained basically unchanged, with renewable energy (RE) related work (mostly off-grid residential) accounting for less than 10% of overall business revenue.

 

It was during this time that we began preparing VE to effectively respond to the growing market demand for RE related services by forming working partnerships with established equipment suppliers as well as initiating training programs for supervisory & technical personnel.

 

The period between 2000 to 2008 was characterized by substantial growth and economic development on Roatan; at the same time, energy costs began to escalate while grid stability and reliability deteriorated.  These conditions prompted many consumers to begin considering alternatives to the utility grid, creating opportunities for renewable energy solutions.     

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2009 - Present

Developing a Holistic Approach that Integrates Energy Efficiency 

Until this time, VE had focused solely on designing and installing systems employing renewable energy technologies.  As we became more adept at analyzing the data obtained from the pre-project evaluation, we recognized the importance of quantifying the energy usage of specific equipment.  Our evaluation process Website link to our service page was modified to more accurately determine the power requirements and energy usage of all systems and in that way fully benefit from the value of integrating this data.  That led to the inclusion of energy efficiency (EE) components into our service offering of cost-effective integrated energy solutions.

 

However, the lack of readily available financing presented an unfamiliar obstacle to achieve expected growth and better meet client needs.  It is then that VE began to seek opportunities to strengthen this financing expertise.  As a result of these efforts, in 2014, the company was awarded a slot in the Project Finance Advisory Network Program (PFAN).PFAN selects qualified projects and assigns coaches and mentors as well as capacity building to strengthen their ability to attract strategic partners and/or outside investment.  VE developed a strong business plan during this process, presenting an attractive model for integrating RE and EE solutions within an island system and environment, and further benefiting from direct technical assistance. 

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Following this experience, VE was awarded a grant by an OPIC/USAID Fund (CEFF-CCA or Clean Energy Finance Facility – the Caribbean and Central America) which allowed it to further strengthen its financial offering as well as providing a stronger understanding of their near and mid-term harvestable markets.

 

Finally, as a result of added work and building on the PFAN and CEFF-CCA experience, VE was able to attract a strong finance strategic partner, Solar Axiom, with whom the renewable energy pivot and growth potential had been foreseen by its founder over 10 years prior, was achieved.

1987 - 1990

The early years

With a foundation on these initial contracts, Vegas Electric grew by training and employing additional personnel to meet the growing demand for quality electrical contracting services and rapidly was recognized as the leading electrical contractor based on the Bay Islands.

With a foundation on these initial contracts, Vegas Electric grew by training and employing additional personnel to meet the growing demand for quality electrical contracting services and rapidly was  recognized as the leading electrical contractor based on the Bay Islands

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2000 - 2008

economic growth and demand

The period between 2000 to 2008 was characterized by substantial growth and economic development on Roatan; at the same time, energy costs began to escalate while grid stability and reliability deteriorated.  These conditions prompted many consumers to begin considering alternatives to the utility grid, creating opportunities for renewable energy solutions. 

Vegas Electric seized this opportunity and soon had the first North American Board of Certified Energy Practitioners (NABCEP) certified engineer in Central America.  In addition to these training efforts, we continued to solidify and expanded supplier relationships to strengthen our warranty service and customer support capabilities.

As a small Roatan based business growing opportunistically on the islands, through 2008, our efforts had resulted in improved market penetration and a substantial increase in revenue from RE related projects.  

Contact Us

Dixon's Cove, Roatan, Honduras, C.A. 341101

HND +504-445-1309 / US 813-774-4732

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