DOE closes $489.4M loan with Dawn Puerto Rico for 220 MW battery storage in Puerto Rico
Type: Financing · Technology: Storage · Country: United States · Capacity: 220 MW · Value: $489.4M · Announced: 2026-08-06
The U.S. Department of Energy closed a $489.4 million loan with Dawn Puerto Rico, a subsidiary of Pattern Energy, to finance 220 MW of battery energy storage systems. The storage facilities will be sited in Arecibo and Santa Isabel, Puerto Rico, and will use battery technology manufactured in the United States. DOE estimates the batteries will back up electricity for more than 100,000 customers and prevent roughly 13 million hours of service interruptions based on 2025 network data. The financing is expected to lower electricity costs for Puerto Rican households and businesses by about $312.5 million over the next 25 years. The loan also includes a provision for possible future natural‑gas‑powered dispatchable generation, though no details on capacity or timing were disclosed. No advisors or legal counsel were named in the announcement.
Counterparties
- U.S. Department of Energy (Lender)
- Pattern Energy (Parent Company)
- Dawn Puerto Rico (Borrower)
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