DOE’s Loan Programs Office approves US$864 million Puerto Rico PV and BESS grant
- Admin
- Jul 21, 2024
- 1 min read
The US Department of Energy (DOE) has issued a loan of up to US$861.3 million to support solar PV and battery energy storage system projects in Puerto Rico, including Project Maharu which falls under the Biden administration's Justice40 Initiative. The projects aim to replace Puerto Rico's coal-based energy infrastructure and transition to a 100% renewable energy mix by 2050. The DOE also granted a $200 million fund under the Puerto Rico Energy Resilience Fund to support energy technology company Generac. Puerto Rico's solar capacity additions are predicted to be mainly distributed assets according to Wood Mackenzie.
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