From ESS News
The Loan Programs Office of the U.S. Department of Energy (DOE) has made a conditional commitment for a loan guarantee for up to $861 million to finance construction of solar-plus-storage projects and standalone storage projects in Puerto Rico.
The project developer and prospective borrower, Clean Flexible Energy LLC, is an indirect subsidiary of AES Corporation (AES) and TotalEnergies Holdings USA, Inc., and is managed under a joint venture agreement between the two.
The planned facilities, located in the municipalities of Guayama and Salinas, include two sites encompassing 200 MW of solar co-located with 285 MW of four-hour batteries (1.14 GWh). Two other standalone battery storage sites would have a storage capacity not disclosed by DOE.
Puerto Rico currently has 154 MW of utility-scale solar, according to the U.S. Energy Information Administration.
The U.S. territory’s distributed solar capacity reached 842 MW by April this year, while residential storage has reached 1.6 GWh. The consultancy Wood Mackenzie has projected that over the next ten years more than 90% of Puerto Rico’s solar additions will be distributed solar.
Puerto Rico’s Act 17 calls for reaching 40% renewable generation by 2025—a target that is now very challenging to meet—and to reach 60% by 2040 and 100% by 2050.
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