US-based Convergent Energy and Power secured a conditional loan guarantee of up to $559.4 million from the US Department of Energy (DOE) Loan Programs Office to develop solar and battery storage projects in Puerto Rico. The projects include a 100 MW solar PV system with a 55 MW/55 MWh battery in Coamo and three stand-alone battery systems in Caguas, Peñuelas, and Ponce. These systems aim to enhance grid resilience, reduce fossil fuel dependence, lower energy costs, and support Puerto Rico’s 100% clean energy target by 2050, while avoiding 2.5 million tons of carbon emissions annually.
Convergent obtained $559.4M DOE loan for Puerto Rico projects
DOE’s $559.4 million support enabled Convergent to strengthen Puerto Rico’s grid and advance its path toward 100% clean energy by 2050. (Image Credit/Source: Andreas160578/Pixabay)
Pleasant Valley Solar 2 secured funding through construction debt and credit facilities to support renewable energy and Meta’s Kuna data center. (Image Source: rPlus)
KYOCERA completed a solar energy project in Ohio, reducing reliance on traditional energy sources and advancing its 2031 renewable energy goal. (Image Credit/Source:MarkStebnicki/Pexels)
Neoen secured AUD 1.4 billion to support 15 renewable energy assets totaling 2.9 GW, backed by 11 major global lenders. (Image Source:Neoen)
Norsun’s bankruptcy halts solar production in Årdal, impacting 70 employees and Norway’s renewable sector. (Image Source: NRK)