Construction has started in Puerto Rico on what will soon be the Caribbean's largest solar energy park.

The $265 million project is being built in southern Puerto Rico and is expected to generate enough electricity to power more than 13,000 homes in the U.S. territory.

The park features 270,000 solar panels and is being financed by CIRO Energy Group and One Planet Caribbean of San Juan and San Francisco-based GCL Solar Energy Inc.

CIRO Group executive Ruben Perez said Friday that the project will help save 236 million barrels of petroleum a year and reduce greenhouse emissions by 217 billion pounds.

Puerto Rico's government also expects construction to start soon on what will be the region's largest wind farm. It will be near the island's southern coast.