US DOE loans US$1.2 billion for Puerto Rico PV/BESS as Biden administration ends

By April Bonner
Facebook
Twitter
LinkedIn
Reddit
Email
Sunnova in Puerto Rico.
The loan of US$584.5 million will be used to finance a 100MW photovoltaic (PV) system. Image: Businesswire.

The US Department of Energy’s (DOE) Loan Programs Office (LPO) announced two conditional commitments and one loan closing in Puerto Rico, totalling over US$1.2 billion.

On the last working day before now-president Trump’s inauguration, the LPO announced funding for three projects, which are all contracted with the Puerto Rico Electric Power Authority (PREPA), which is working to gradually replace Puerto Rico’s fossil fuel generation with renewable energy and battery energy storage systems (BESS) through 2032 following a devastating hurricane in 2017.

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

The announced loan closing is for developer-operator Convergent Energy. The loan of US$584.5 million will be used to finance a 100MW photovoltaic (PV) system with a 55MW/55MWh BESS in the municipality of Coamo, Puerto Rico. It will also help fund three other standalone BESS projects, a 25MW/100MWh system in Caguas, a 100MW/400MWh system in Peñuelas and a 100MW/400MWh system in Ponce.

The DOE’s LPO also announced a conditional commitment of US$489.4 million to Pattern, a subsidiary of Pattern Energy Group, for three standalone BESS projects. The loan would be used for the 50MW/200MWh BESS in Arecibo, a 50MW/200MWh project in Santa Isabel and an 80MW/320MWh BESS and integrated 70MWac solar PV system in Arecibo.

Additionally, the LPO’s announcement included a conditional commitment of US$133.6 million to Infinigen, a subsidiary of AL-Infinigen Operating, for a 32.1MWac solar PV project integrated with a 14.45/4.76MWh BESS and a co-located standalone 50MW/200MWh BESS expansion in the municipality of Yabucoa.

If finalised, collectively, these projects would more than double the LPO’s support for utility-scale solar generation and battery storage in Puerto Rico.

Read the full version of this story on Energy-Storage.news.

17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.
7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

February 19, 2025
Singapore-headquartered renewable energy developer Gurīn Energy has completed a 75MW solar PV power plant situated in the municipality of Palauig, the Philippines.
February 18, 2025
Individual market dynamics and appetite for risk play an important role in the effectiveness of co-location as a hedge for renewable assets.
February 18, 2025
Spanish renewables developer Ecoener has secured a US$43.1 million loan to finance a 60MW solar PV plant in the Dominican Republic.
February 18, 2025
Sunnova said the job cuts are part of “an optimisation of its business" and the cuts will save around US$35 million.
February 18, 2025
Chinese solar manufacturer LONGi has filed a lawsuit in the US District Court for the Eastern District of Texas against Jinko Solar.
February 18, 2025
Germany has now installed more than 100GW of solar PV after adding 1.1GW in January 2025, according to monthly data from the German Federal Network Agency.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 19, 2025
Tokyo, Japan
Solar Media Events
March 11, 2025
Frankfurt, Germany
Solar Media Events
March 18, 2025
Sydney, Australia