SAN JUAN, Puerto Rico — The U.S. Department of vigor said Friday it was setting aside $1.2 billion in federal funds to assist finance renewable vigor projects in Puerto Rico to lessen its dependence on fossil fuels.
The capital includes the closing of a $585 million loan guarantee to finance a 100-megawatt structure of solar panels in four cities — Ponce, Caguas, Coamo and Peñuelas. The structure is planned to include a 55-megawatt battery vigor storage structure.
The U.S. agency also offered two conditional commitments for a loan guarantee of more than $489 million for three-battery vigor 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 structure in the town of Yabucoa.
In all, the projects will allow for the storage of 455 megawatts of vigor. Other cities, including the capital distribution 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 resource.
On Dec. 31, a blackout hit nearly the entire island, disrupting recent 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 vigor by 2025, as well as 60% by 2040 and 100% by 2050.
