A joint venture between AES Corp and TotalEnergies has received a conditional commitment from the US Department of Energy (DOE) for a loan guarantee of up to USD 861.3 million (EUR 791 million).
This funding is earmarked for the construction of solar parks and battery storage facilities in Puerto Rico.
The DOE's Loan Programs Office (LPO) announced the commitment on Thursday for Clean Flexible Energy LLC's Project Marahu. The loan guarantee is contingent on meeting specific technical, legal, environmental, and financial conditions.
The project will involve the development of two solar photovoltaic (PV) farms with battery storage and two standalone battery energy storage systems (BESS) in Guayama (Jobos) and Salinas.
The initiative will add 200 megawatts (MW) of solar power generation and up to 285 MW/1,140 megawatt-hours (MWh) of BESS capacity.
Project Marahu aims to enhance Puerto Rico's energy resilience and affordability, contributing to the island's goal of achieving 100% clean energy by 2050. The addition of solar power is expected to replace retiring fossil fuel power plants that depend on imported fuels, according to the DOE.
