# U.S. DOE Loan Guarantee to Subsidiaries of Convergent Energy and Power Inc.
## Main Points:
– The U.S. Department of Energy Loan Programs Office (LPO) has approved a $584.5 million loan guarantee.
– This loan will be granted to subsidiaries of Convergent Energy and Power Inc.
– The purpose of the loan is to fund the construction and operation of utility-scale solar-plus-storage projects in Puerto Rico.
### Author’s Take:
The U.S. DOE’s substantial loan guarantee to Convergent Energy and Power Inc. signifies a significant step towards enhancing Puerto Rico’s energy infrastructure. By supporting the development of solar-plus-storage projects, this initiative not only boosts grid resilience but also contributes to cost savings for energy consumers in the region.
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