The Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) will aid Puerto Rico in restructuring its $72 billion debt, which should to ease the ability for clean power projects to receive financing. The new law enables energy and infrastructure projects to be designated as “critical” by a fiscal control board, thus moving along more quickly. Where projects have teetered along on life support for some time as financiers were unwilling to open discussions with a poor credit offtaker, PROMESA may breathe new life into the Puerto Rican renewable energy market.
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