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DOE Offers $861 Million Loan Guarantee for Solar and Storage Projects in Puerto Rico by Clean Flexible Energy

The U.S. Department of Energy (DOE) has offered a conditional loan guarantee for up to $861 million to finance construction of solar-plus-storage projects and standalone storage projects in Puerto Rico. The project developer and prospective borrower, Clean Flexible Energy LLC, is an indirect subsidiary of AES Corporation (AES) and TotalEnergies Holdings USA, Inc. The planned facilities, located in the municipalities of Guayama and Salinas, will include 200 MW of solar co-located with 285 MW of 4-hour batteries. Two other standalone battery storage sites would have a storage capacity not disclosed by DOE. The loan guarantee must be finalised before DOE enters into definitive financing documents.

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