Convergent Energy and Power (Convergent) stated that it has received a $584.5 million loan from the US Department of Energy (DOE). The loan was secured through the DOE’s Loan Programs Office. The money will help to create a solar photovoltaic (PV) system. In addition, it will fund the development of three stand-alone battery storage systems in Puerto Rico. 

The company will provide Puerto Rico with a more reliable and sustainable energy system. The company intends to do this by integrating solar energy with battery storage. These projects will cut down the island’s reliance on diesel and coal plants. This will ultimately lower pollution and cut down CO2 emissions.

Also read: DOE Announces $101 Million for Carbon Management Test Centers

The company will implement a 100 MW solar PV system combined with a 55 MW/55 MWh battery storage system in Coamo. A total of three utility-scale battery storage systems will be constructed in the municipalities of Caguas, Peñuelas, and Ponce, respectively. These clean, affordable systems will inject directly into the electric grid of Puerto Rico, further cementing the switch toward 100% clean energy by 2050.

Economic Benefits and Other Opportunities

Apart from increasing grid reliability, the projects will bring benefits to the local communities by reducing Puerto Rico’s energy costs. When compared to the continental United States region, energy prices in Puerto Rico are higher. The deployment of these projects will help in cutting down those costs and providing affordable energy.

In addition to decreased costs, the projects will also generate 540 construction jobs. The company is partnering with the Puerto Rico Department of Economic Development and Commerce to align its workforce strategy with local and federal goals.

Clean Energy Future

This US Department of Energy loan worth $584.5 million will facilitate Convergent Energy’s goal of bringing clean energy solutions to Puerto Rico. The projects will lower energy costs while increasing grid resilience. The technologies also align with Puerto Rico’s aim of reaching 100% sustainable energy by 2050. 

Aegis Energy, a UK-based company, has raised £100 million from Quinbrook Infrastructure Partners. The funds will be directed towards the establishment of five multi energy filling stations for commercial vehicles across the UK. This is an important step in the country’s efforts to cut emissions and promote the transition to cleaner energy sources.

First Multi Energy Refuelling Hubs in the UK

The company plans to create the UK’s first multiple energy refueling hubs. These hubs are specifically designed for trucks and vans.  Several fueling options will be provided at the stations. This will encompass electric charging, hydrotreated vegetable oil (HVO), hydrogen, and biomethane. The multi energy hubs are directed towards providing commercial vehicle operators with flexible and sustainable solutions at the refueling stage.

Also read: Siemens eMobility Partners in EV Charging Infrastructure Projects in Italy

According to the co-founder of the startup, Christopher Thorneycroft-Smith, the company is committed to supporting operators in their transition to cleaner energy. Aegis Energy will provide businesses with the freedom to choose the best method for their operations by offering multiple clean energy charging and refuelling options.

Strategic Locations for Refuelling Hubs

The first of these refueling stations is scheduled to open in early 2026. The remaining stations will be complete by the end of 2027. Refuelling stations will be positioned in major cities such as Sheffield, Immingham, Warrington, Corby, and Towcester. Aegis Energy intends to expand even further, with plans to develop up to 30 stations by 2030.

These stations will provide clean energy refuelling infrastructure, which has been in increased demand as Britain seeks to improve air quality and reduce emissions. The UK government has expressed some concern over the slower-than-expected adoption of electric vehicles due to concerns of limited charging infrastructure and high costs.

A Greener Future

This investment in multiple energy stations is expected to support the transition to sustainable transportation. The £100 million investment in Aegis Energy will help build a network of multi energy energy stations across the UK.

These hubs will offer various clean fuel options, helping commercial vehicle operators reduce emissions and transition to more sustainable energy sources.