Puerto Rico’s Financial Oversight and Management Board (JSF) is examining a series of infrastructure projects that, if approved, would be fast-tracked for development and construction. Some of the PV arrays included in the infrastructure round already have PPAs signed with local utility PREPA. Two include co-located storage.
Current estimates suggest 80% of Puerto Rico is still without power, but thanks to Elon Musk’s efforts at least one children’s hospital has been able to turn the lights on.
The new PV capacity will be part of a plan to add 1.5 GW of new generation capacity and to address the state of emergency of the country’s electricity system.
The $255 million offering makes Sunnova the latest distributed solar provider to offer securities backed by residential solar assets.
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