On January 17, 2025, DOE’s LPO announced the closing of a $584.5 million loan to Convergent, funding a PV system with BESS and three independent BESS projects across Puerto Rico. The solar PV facility expects to “deliver approximately 200,000 MWh of energy annually directly into Puerto Rico’s grid,” with all projects improving the resiliency of Puerto Rico’s grid infrastructure to extreme weather events. Fulfilling the company’s CBP, Convergent’s projects will create 540 construction jobs once started. These projects will assist Puerto Rico in meeting the territory’s goal of relying on 100% renewable energy by 2050 (part of the Puerto Rico Energy Public Policy Act of 2019).
EIR projects are funded by IRA section 50144, appropriating $5 billion to DOE for loan guarantees to upgrade or replace energy infrastructure while improving environmental conditions within the communities in which loan recipients operate. EIR funds are available until September 30, 2026.