STATE
Clean Energy Deals in Puerto Rico
Every tracked clean energy deal in Puerto Rico since 2023 — 3 transactions, 0.7 GW of capacity, $2.31B of disclosed value. Includes M&A, project finance, PPAs, and tax credit transfers. Updated weekly.
3
Tracked Deals
0.7 GW
Total Capacity
$2.31B
Disclosed Value
2022–2026
Period
Top Deals
By disclosed value| Date | Asset / Counterparties | Size | Value |
|---|---|---|---|
| Jul 18, 2022 | Project Marahu — 200 MW solar PV + 285 MW / 1,140 MWh BES… Clean Flexible Energy (AES Corporation + TotalEnergies Holdings USA JV) → U.S. Department of Energy (Loan Programs Office) | 485 MW | Up to $861.3M conditional (finalized Sept 2024) |
| Oct 16, 2024 | Project Marahu — 200 MW solar PV + 285 MW/1,140 MWh BESS … AES / TotalEnergies (Clean Flexible Energy LLC) → DOE Loan Programs Office | 200 MW | $861.3M |
| Apr 28, 2026 | Sunrun 2026-1 — $584M residential solar + storage ABS bac… Sunrun Inc. → Atlas SP (sole structuring agent + joint bookrunner); BofA Securities, MUFG, Truist Securities (joint bookrunners); ING (co-manager) | — | $584M |
Most Active Firms
Top Buyers / Financiers
Top Sellers / Developers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Sunrun Inc. | 1 | $584M |
| 2 | Sunrun Inc. (NASDAQ: RUN) | 1 | $584M |
| 3 | AES / TotalEnergies (Clean Flexible Energy LLC) | 1 | $861M |
| 4 | Clean Flexible Energy (AES Corporation + TotalEnergies Holdings USA JV) | 1 | $861M |
Top Lenders
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | DOE LPO (EIR Program) | 1 | $861M |
Technology Mix
Deal Type Mix
- Project Finance2
- Corporate Debt & Capital Markets1
Activity by Year
Recent Deals
Latest 3- Sunrun 2026-1 — $584M residential solar + storage ABS backed by 38,706 custom…Apr 28, 2026
Corporate Debt & Capital Markets · Multi (19 states + DC + PR) · $584M
- Project Marahu — 200 MW solar PV + 285 MW/1,140 MWh BESS in Guayama and Salin…Oct 16, 2024
Project Finance · PR · $861.3M · 200 MW
- Project Marahu — 200 MW solar PV + 285 MW / 1,140 MWh BESS, Guayama (Jobos) +…Jul 18, 2022
Project Finance · PR · Up to $861.3M conditional (finalized Sept 2024) · 485 MW
Recent Moves at Active Firms
All moves →Ricardo Falú promoted to President at AES CorporationMar 2, 2026
Juan Ignacio Rubiolo promoted to EVP, Chief Operating Officer, and President of Energy Infrastructure SBU at AES CorporationMar 2, 2026
Neal Kemkar joined as Chief Network Officer at CeresFeb 9, 2026
Related
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