US DOE finances utility-scale solar PV and BESS in Puerto Rico with US$860 million loan guarantee

Facebook
Twitter
LinkedIn
Reddit
Email
Puerto Rico solar-plus-storage project.
The financing will be for the construction of up to 200MW of solar PV capacity and 285MW/1,140MWh of standalone BESS in Puerto Rico. Image: Lord Construction.

The US Department of Energy (DOE) has unveiled a US$861.3 million loan guarantee to finance the buildout of utility-scale solar PV and battery energy storage system (BESS) in Puerto Rico.

The loan guarantee will allow for the development of up to 200MW of solar PV and 285MW/1,140MWh of standalone BESS in Puerto Rico, said US Secretary of Energy, Jennifer M. Granholm. The borrower of the loan guarantee is Clean Flexible Energy, a joint venture between US utility AES Corporation and French energy major TotalEnergies Holdings.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Issued through the DOE’s Loan Programs Office (LPO), it follows the announcement made in July of a conditional commitment for the loan guarantee to Clean Flexible Energy.

The projects will be developed in the Puerto Rican municipalities of Guayama (Jobos) and Salinas.

US energy secretary Jennifer Granholm said: “Today’s announcement will help add up to 200MW of solar generation and another 285MW of reliable storage capacity to Puerto Rico’s electric grid to improve the grid’s resilience and help reduce energy costs that have remained too high for too long for too many families—all while enabling the Commonwealth to reach its ambitious climate goals.”

The financing of utility-scale capacity in Puerto Rico is a further boost for Puerto Rico which has a strong capacity from the distribution market and has been praised for its virtual power plant (VPP) implementation.

Read Next

August 8, 2025
Argentinian renewables developer Genneia has reached commercial operations at its 180MW Parque Solar Anchoris in Argentina.
August 7, 2025
Independent power producer Arevon Energy has powered the second phase of the Eland solar-plus-storage Center in Los Angeles, California.
Premium
August 7, 2025
July 2025, the peak of the Australian winter season, saw generation from utility-scale and rooftop solar increase by 12.78% year-on-year in the National Electricity Market (NEM).
August 5, 2025
Utility AES Andes has started construction on two renewable energy projects in Chile, with a combined 1.3GW of capacity.
August 4, 2025
During H1 2025, China has added 211.61GW of new PV capacity, more than doubling last year's figures when installs reached 102.5GW in H1 2024.
August 1, 2025
Independent power producer GoldenPeaks Capital has reached commercial operations on a 92MW solar PV portfolio in Hungary.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines