DOE Backs Utility-Scale Power Storage In Puerto Rico

The U.S. Department of Energy (DOE) through its Loan Programs Office (LPO) today announced the closing of a $861.3 million loan guarantee to finance the construction of two solar photovoltaic (PV) farms equipped with battery storage and two standalone battery energy storage systems (BESS) in Puerto Rico.

“The project is financed under Title 17 Clean Energy Financing Section 1706. Created by President Biden’s Inflation Reduction Act (IRA), EIR can finance projects that retool, repower, repurpose, or replace energy infrastructure that has ceased operations or enable operating energy infrastructure to avoid, reduce, utilize, or sequester air pollutants or greenhouse gas emissions,” LPO said.

The so-called Project Marahu will assist in replacing coal energy infrastructure with clean energy facilities , thereby – creating new job opportunities while lowering harmful emissions. The Puerto Rico Energy Public Policy Act (Act 17) requires Puerto Rico’s utility to cease all coal-fired energy generation by 2028 and shift to a 100% renewable energy mix by 2050. It’s an enlightened program that is awake to the all to real threats to planet Earth that comes from burning fossil fuels.

The facilities will be located in the municipalities of Guayama (Jobos) and Salinas and will help deliver clean, reliable, and affordable power to communities throughout Puerto Rico. The borrower is Clean Flexible Energy, LLC, an indirect subsidiary of The AES Corporation (AES) and TotalEnergies Holdings USA, Inc. that is managed under a joint venture agreement between the two companies. Today’s announcement underscores the President and Vice President’s efforts to deliver clean energy solutions that benefit communities grappling with the persistent and lingering effects of climate change. Put another way we can make America great again, not by destroying it, ala Trump’s Global warming is a Chinese hoax,  but by investing in clean renewable power.