Cleary Gottlieb recently advised the Puerto Rico Public-Private Partnerships Authority (P3 Authority) in a groundbreaking transaction aimed at further transforming Puerto Rico's electric sector. The firm facilitated the successful procurement and execution of a 30-year power purchase and operating agreement (PPOA) between Energiza LLC and the Puerto Rico Electric Power Authority (PREPA) for the development of a new LNG to H2 Generation Facility. This facility, with green hydrogen fuel capability, will be constructed by Energiza and aims to enhance the reliability, resiliency, and sustainability of Puerto Rico's electric grid by offering multiple fuel capabilities, including the transition to 100% green hydrogen in the future. The project, announced as a historic milestone by the P3 Authority, is part of Puerto Rico's objective to provide modern, affordable, and reliable power to drive economic recovery and growth. Cleary's involvement in this project is part of its ongoing representation of the P3 Authority in the transformation of PREPA through public-private partnerships, with a focus on diversifying energy sources and reducing reliance on fossil fuels. The introduction of hydrogen in the fuel mix is expected to significantly decrease carbon emissions, contributing to a more sustainable energy ecosystem in Puerto Rico. This initiative not only marks a significant step forward in Puerto Rico's energy transformation but also positions the island as a pioneer in innovative and environmentally friendly power generation.