What Happened

AES secured an $861.3 million loan guarantee to finance the construction of two solar photovoltaic farms with battery storage and two standalone battery energy storage systems in Puerto Rico. The projects, located in Guayama and Salinas, aim to improve energy resilience and affordability while supporting Puerto Rico's clean energy goals.

Who Is Affected

The project directly impacts Puerto Rican residents, who face high energy costs, and local communities in Guayama and Salinas. It will create approximately 750 construction jobs and over 50 full-time operational jobs, while also engaging local labor leaders and community advisors.

Market Impact

• Replaces fossil fuel-based generation, reducing emissions by 2.7 million tonnes of CO2e annually.
• Supports Puerto Rico's goal of achieving 100% clean energy by 2050.
• Provides affordable electricity, addressing energy burdens significantly higher than the U.S. average.

What to Watch

Monitor AES's progress in deploying these projects and their partnerships with local organizations, particularly their capacity-building and training programs for women and community members. Watch for further investments in Puerto Rico's renewable energy infrastructure.