AGP Executive Report
Last update: 7 hours agoPuerto Rico Power & Finance: The U.S. Department of Energy backed a nearly $490M loan for 220MW of battery storage in Arecibo and Santa Isabel, aiming to shore up PREPA’s fragile grid and support more than 100,000 customers during outages. Regulatory/Deal Risk: A short-seller report alleges Flotek Industries’ Puerto Rico power agreement was effectively derailed after the Financial Oversight and Management Board revoked approval of the larger Power Expectations-led contract, sending FTK shares down about 20% and triggering a shareholder recovery investigation by Johnson Fistel. Housing & Credit: COSSEC data shows mortgage lending at Puerto Rico savings and credit unions rose to $2.182B by Q2 2026, with mortgages taking a larger share of loan portfolios as housing programs like Vivienda Joven expand. Local Business Leadership: Attorney Cynthia Román Sánchez announced her candidacy for CUD presidency, pitching closer support and measurable results for Puerto Rico’s 6,000+ SME members. Tech & Identity: Apple Wallet’s driver’s license feature is expanding to more U.S. states, with Puerto Rico already included—though physical IDs remain important for law enforcement and limited retailer acceptance. Culture/Events: Bad Bunny will close his Debí Tirar Más Fotos tour with two Puerto Rico concerts at Hiram Bithorn Stadium on Aug. 22-23, plus daytime “outdoor experiences” for fans.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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