Clearway Vitality Group has closed on $550 million in development financing and broke floor on the corporate’s 140 MW photo voltaic and 118 MW storage undertaking in Kern County, Calif., Rosamond South I.
“Kern County has lengthy served as a essential supplier of our nation’s vitality,” says Brooks Friedeman, vp of Capital Markets at Clearway.
“We’re happy to put money into and assist proceed Kern County’s vitality management legacy by our Rosamond South photo voltaic and storage undertaking, which is able to present dependable and low-cost energy when wanted most.”
Rosamond South I, known as Golden Fields Photo voltaic IV by its offtakers, is below 15-year agreements with MCE, College of California, Rancho Cucamonga Municipal Utility, Eastside Energy Authority and the Metropolis of Moreno Valley.
To finance the development mortgage, Clearway assembled a financial institution consortium consisting of Societe Generale, Australia and New Zealand Banking Group Restricted Siemens Monetary Companies, Commerzbank, CoBank, DNB Financial institution ASA and Nord/LB.
Building is being led by EPC contractor McCarthy Constructing Firms. Labor companions included Laborers Union 220, Southwest Regional Council of Carpenters, Working Engineers Native 12, IBEW Native 428, Ironworkers Native 416 and Native 433.
The undertaking is predicted to succeed in industrial operations subsequent 12 months.
