US announces $1.2 billion to help finance renewable energy projects in Puerto Rico

The U.S. Department of Energy says it’s setting aside $1.2 billion in federal funds to help finance renewable energy projects in Puerto Rico to reduce its dependence on fossil fuels

ByThe Associated Press

January 17, 2025, 4:00 PM

SAN JUAN, Puerto Rico — The U.S. Department of Energy said Friday it was setting aside $1.2 billion in federal funds to help finance renewable energy projects in Puerto Rico to lessen its dependence on fossil fuels.

The funding includes the closing of a $585 million loan guarantee to finance a 100-megawatt system of solar panels in four cities — Ponce, Caguas, Coamo and Peñuelas. The system is planned to include a 55-megawatt battery energy storage system.

The U.S. agency also offered two conditional commitments for a loan guarantee of more than $489 million for three-battery energy storage systems for the towns of Arecibo and Santa Isabel, and another loan guarantee of more than $133 million for a 32-megawatt solar panels system in the town of Yabucoa.

In all, the projects will allow for the storage of 455 megawatts of energy. Other cities, including the capital of San Juan, already have multiple solar projects.

Puerto Rico has struggled with chronic power outages since Hurricane Maria pummeled the U.S. territory in September 2017 as a Category 4 storm, razing an electric grid that previously lacked maintenance and investment.

On Dec. 31, a blackout hit nearly the entire island, disrupting New Year Eve plans.

In 2019, the Puerto Rico legislature passed a law setting goals for the island to meet 40% of its electricity needs with renewable energy by 2025, as well as 60% by 2040 and 100% by 2050.

Read More

  • Related Posts

    Canada announces new support for lumber, steel industries hit by tariffs

    The new plan comes amid stalled trade talks between Ottawa and Washington. Canada will offer more support to help the steel and lumber industries deal with United States tariffs and…

    Australian PM announces formal recognition of Palestine

    NewsFeed Australian Prime Minister Anthony Albanese announced Australia’s formally recognition of the State of Palestine, in a coordinated move with the UK and Canada, in an effort to revive a…

    You Missed

    Watch out Keir! The ‘pasta plotters’ are back as renegade Labour MP gather in Italian restaurant to ‘discuss Starmer’s leadership woes’

    Watch out Keir! The ‘pasta plotters’ are back as renegade Labour MP gather in Italian restaurant to ‘discuss Starmer’s leadership woes’

    Bombshell claim from the parents of the Aussie teens who died from methanol poisoning

    Bombshell claim from the parents of the Aussie teens who died from methanol poisoning

    ICE agents fired at in Chicago drive-by shooting as Homeland Security say violence towards officers is growing

    ICE agents fired at in Chicago drive-by shooting as Homeland Security say violence towards officers is growing

    David Lammy mocked for ‘ordering civil servants’ at the Ministry of Justice to call him ‘Deputy Prime Minister’

    David Lammy mocked for ‘ordering civil servants’ at the Ministry of Justice to call him ‘Deputy Prime Minister’

    This year’s 80ft 12-ton Rockefeller Center Christmas tree rides into NYC to kick off the holidays

    This year’s 80ft 12-ton Rockefeller Center Christmas tree rides into NYC to kick off the holidays

    ‘We will remember them’: Princess of Wales’s touching tribute to the fallen at moving Armistice Day service

    • By poster
    • January 8, 2026
    • 2 views
    ‘We will remember them’: Princess of Wales’s touching tribute to the fallen at moving Armistice Day service