Puerto Rico set for fresh US DOE loans to add 920 MWh of battery storage

The US DOE confirms closing a previously conditional deal, and announced two more conditional deals to bring funding to more than $1.2 billion for solar plus storage.
Image: Pexels/Diego F. Parra

Puerto Rico is again the beneficiary of more US Department of Energy (DOE) loans, with a conditional commitment being confirmed and two more conditional commitments announced, lining up 1,820 MWh in projects in development or set to be developed via $623 million in two deals.

The deal announced this week by the DOE’s Loan Programs Office (LPO) first confirms the $584.5 million to developer-operator Convergent Energy and Power to build solar and battery energy storage systems (BESS), including 964 MWh of storage across two sites, as previously covered. 

The new deals total $623 million across two groups and will supply 920 MWh more storage for the island. The aim is to replace Puerto Rico’s current fossil supply, from Puerto Rico Electric Power Authority (PREPA), with renewable energy and battery storage systems by 2032. Mandates to phase out coal-fired generation will be in effect from 2028.

The two conditional deals are as follows:

  • A conditional commitment for a loan guarantee of up to $133.6 million to a subsidiary of AL-Infinigen Operating, LP (Infinigen). for a 32.1 MW-ac solar PV system with an integrated 14.45 MW / 4.76 MWh BESS, and a co-located, standalone 50 MW / 200 MWh BESS expansion in the municipality of Yabucoa.
     
  • A conditional commitment for a loan guarantee of up to $489.4 million to a subsidiary of Pattern Energy Group LP (Pattern) for three stand-alone BESS in the municipalities of Arecibo (50 MW/200 MWh), and Santa Isabel (50 MW /200 MWh and 80 MW/320 MW), and a 70 MW solar PV system with an integrated BESS in the municipality of Arecibo. 

As is typical in these deals, the conditional commitment signals the DOE’s intent to finance the project. However, reviews of the environmental process and certain technical, legal, environmental, commercial, and financial conditions must be completed before definitive financing and funding are supplied.

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