The US Department of Energy (DOE) has closed a US$489.4 million loan to Amanecer Puerto Rico, a subsidiary of developer Pattern Energy to support Puerto Rico’s electric grid.
Announced 5 August, the loan was closed through the DOE’s Office of Energy Dominance Financing (EDF), a rebranding of sorts of the Loan Programs Office (LPO), introduced by Energy Secretary Chris Wright in late 2025.
The US$489.4 million loan was granted to “lower electricity costs and strengthen Puerto Rico’s electric grid.” It will support 220MW of battery energy storage systems (BESS) in Arecibo and Santa Isabel as well as future development of natural gas-fired generation.
The DOE claimed that the investment is expected to save Puerto Rican families and businesses approximately US$312.5 million in electricity costs over the next 25 years.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
It further claimed that the financing “builds on the Trump Administration’s broader efforts to restore reliable electricity across Puerto Rico.”
In January 2025, during the final days of the Biden administration, the LPO announced two conditional commitments and one loan closing in Puerto Rico, totalling over US$1.2 billion, including the US$489.4 million to Pattern.
At that time, it was noted that the loan would be used for a 50MW/200MWh BESS in Arecibo, a 50MW/200MWh project in Santa Isabel, and an 80MW/320MWh BESS and integrated 70MWac solar PV system in Arecibo.
The funds are not likely to be used for the solar PV system however, as in May 2025, the DOE announced it was redirecting US$365 million initially awarded by the Biden administration in December 2024 to support rooftop solar and BESS installations in Puerto Rico, which were slated to begin construction in 2026, to support fossil fuel burning plants.
At the time, the DOE stated that “The redirection of these funds will expand access to reliable power for millions of people rather than thousands and generate a higher return on investment for taxpayers while advancing grid resiliency for Puerto Rico.”
The DOE’s justification for such actions is called into question based on the administration’s actions thus far. In July, the Associated Press reported that the administration acknowledged in court documents the cancellation of US$7.6 billion in grants for renewables projects “based solely on the political identity of the grant recipient’s state, i.e., whether the recipient’s location and/or place of performance was in a Blue State or a non-Blue State.”
While Puerto Rico is not a US state, Governor Jenniffer González Colón is an ally of the Trump administration. In 2025, Politico reported on González-Colón’s prioritisation of natural gas, which could jeopardise the territory’s goal of achieving 100% clean energy resources by 2050.
In May, renewables developer Polaris Renewable Energy’s BESS Standard Offer (SO1) agreement was approved by the Financial Oversight and Management Board of Puerto Rico (FOMB).
Prior to that news, the Puerto Rico Energy Bureau (PREB) approved a motion from Tesla, residential solar and battery installer Sunrun, and residential solar installer SunStrong Management to auto-enroll participants in the Customer Battery Energy Sharing (CBES) programme, created by the Governing Board of the Puerto Rico Electric Power Authority (PREPA), which manages electric generation, transmission, and distribution facilities in Puerto Rico.
In April, Pattern acquired Canadian asset manager Cordelio Power, though the deal amounted to an internal reorganisation since CPP Investments already owned a majority stake in Pattern and was the sole owner of Cordelio. Shortly after, BrightNight acquired a 6GW portfolio of projects previously held under its joint venture with Cordelio.
Battery Asset Management Summit USA 2026 will be held 15-16 September in Garden Grove, California, hosted by Energy-Storage.news publisher Solar Media (part of the Informa Group). The agenda emphasises addressing the roles of AI, cybersecurity, and second-life applications, broken down into two tracks: Technical Asset Management and Commercial Asset Management. This year, the conference is also co-located with Solar & Storage Finance Summit USA. Visit the official site for more details.
