The U.S. Department of Energy (DOE), through its Loan Programs Office (LPO), is set to guarantee an $861.3 million loan to finance the construction of two solar PV farms equipped with battery storage and two standalone battery energy storage systems (BESS) in Puerto Rico.
The Project Marahu facilities will be located in the municipalities of Guayama and Salinas and are expected to help deliver clean power throughout Puerto Rico.
The borrower is Clean Flexible Energy, an indirect subsidiary of The AES Corporation and TotalEnergies Holdings USA that is managed under a joint venture agreement between the two companies.
“President Biden and Vice President Harris understand that access to reliable energy is a matter of life or death, especially in the face of climate-change fueled natural disasters that are increasing in intensity and frequency,” says U.S. Secretary of Energy Jennifer M. Granholm.
“Today’s announcement will help add up to 200 MW of solar generation and another 285 MW 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.”
As part of the Biden-Harris administration’s efforts to build an equitable clean energy future, LPO borrowers are expected to develop and ultimately implement a comprehensive Community Benefits Plan. That plan is being finalized for the Marahu project.
The Project Marahu team includes two community relations managers who are from the Guayama community and a group of local community engagement advisors.
This project is financed through the Energy Infrastructure Reinvestment (EIR) program under Title 17 Clean Energy Financing Section 1706. Created by the Inflation Reduction Act, 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.
Project Marahu will assist in replacing coal energy infrastructure with clean energy facilities. The Puerto Rico Energy Public Policy Act requires Puerto Rico’s utility to cease all coal-fired energy generation by 2028 and shift to a 100% renewable energy mix by 2050.
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DOE Guarantees $860M Loan for Puerto Rico Solar, Battery Storage
Can’t swear that this is true but hoping so.
We must never forget.
The more visibility and the more frequent reminders we can get on this catastrophe in U.S. history the better.
It’s almost funny when we hear that California is a socialist state, or a police state (due to our environmental restrictions), or that people are leaving in droves to go to Texas or Florida. When I come across people who say this, I wonder: have you ever actually been to California?
Do you know that the garden-variety 3 BR, 2 BA house here lists at about $1.2 million, where, if it were moved to, say, the Midwest, it would be worth perhaps $2500,000? Why do you think that could possibly be? Maybe the law of supply and demand doesn’t apply to the Marxist part of the nation?
Perhaps it’s because Californians are offered fantastic economic opportunities. We develop and implement ideas that improve the lives of everyone on Earth, and that we profit greatly from our undertakings.
Something for the MAGA crowd to consider.
The main way governments create wealth is by educating people so that they can become productive members of society. They also build roads and airports and maintain law and order so that honest businesses can thrive.
Anyone living now who believes that Elon Musk and Jeff Bezos are creating wealth for anyone but themselves is a total fool.
A ton of people bought into the concept expressed here in the mid-20th Century, but no semi-intelligent person today believes that tax breaks for billionaires/trillionaires generates a nickel for the common person.
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