Puerto Rico Secures $1.2 Billion in DOE Loans for Solar and Battery Projects

The funding aims to modernize the territory's grid, reduce reliance on fossil fuels, and address chronic power outages.

The U.S. Department of Energy announced $1.2 billion in loans and conditional commitments for renewable energy projects in Puerto Rico.
The funding includes a $584.5 million loan guarantee for a 100 MW solar farm and battery storage systems in four municipalities, including Ponce and Coamo.
Additional projects include a $133.6 million conditional loan for a solar and battery system in Yabucoa and a $489.4 million conditional loan for solar and battery systems in Arecibo and Santa Isabel.
Puerto Rico has faced over 200 blackouts since 2022, with its energy grid still recovering from Hurricane Maria in 2017.
The projects align with Puerto Rico's renewable energy goals, which aim for 40% renewable energy by 2025 and 100% by 2050.