The Fundación Borincana (or Borincana Foundation) was formed in July of 2018 as a not-for-profit with a focus on enabling and accelerating the energy transformation of Puerto Rico for the benefit of its people and the people of the world.
Our name is derived from the native Taino term for the island - Borinquen (citizens identify as "Boricua"), and was inspired by the acclaimed composition in Puerto Rico’s patriotic tradition, Lamento Borincano, released in 1929 to call attention to the economic precariousness that engulfed aspects of life on the island – not unlike the situation today.
A prosperous Puerto Rico transformed to lead the world in resilient, inclusive energy infrastructure and sustainable energy business innovation
Building critical capacities in Puerto Rico to proactively develop a modern, resilient, distributed energy infrastructure
Background on Puerto Rico
Puerto Rico is a Caribbean archipelago with tremendous resources, a courageous and resilient people, a rich history, and, we believe, an amazing and prosperous future. Puerto Rico has failed to fully recognize the benefits of its great strengths and natural advantages. Unique political culture and circumstance (being both a part of, and apart from, the United States) combined with a historically small, insular market has meant that Puerto Rico lacks many of the financial, business, legal and other skills, forms, and methods that larger established markets take for granted. To unblock markets, unlock investment, and achieve its potential, Puerto Rico needs to "build capacity" with support from dedicated public and private sector expertise and consistent access to resources that it does not have and cannot afford. The Foundation aims to address this need.
Tragedy and Unique Opportunity
Hurricanes Irma and Maria laid bare Puerto Rico’s most glaring weakness, its energy infrastructure. Virtually all modern social, economic, and political systems rely first and foremost on a robust and stable infrastructure. Puerto Rico's crumbled and with it the State. Lives and livelihoods were devastated and the rebuilding will take many years. But the devastation wrought by these storms, the failure of PREPA - the sclerotic government-owned utility, and the bankruptcy of the utility and the Commonwealth have paradoxically created fertile conditions for transformation and a globally unparalleled opportunity to build back a first-of-its-kind modern system of infrastructure.
Laboratory for Change
Puerto Rico is now and will be for years to come the "sandbox" where clean and sustainable energy technologies, business practices, financial innovation, dynamic regulatory structure, and political will are all tested and refined to create the modern, resilient, distributed grid and energy infrastructure of the future. When it happens, it will probably happen in Puerto Rico first. Lessons taken from Puerto Rico, both good and bad, will inform new technologies and practices that will be applied in the transformation of core infrastructure worldwide for decades.
This is an extremely valuable opportunity for the future of Puerto Rico and must be nurtured. It can be done well, or poorly, but transformation is happening. The Foundation prefers to see that it is done well!
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