Clearway Power Group has closed on $700 million in development financing and begun development on two initiatives in Fresno and San Bernardino counties, Calif.
Luna Valley is a 200 MW photo voltaic challenge in Fresno County. Daggett Storage is a 113.5 MW standalone battery vitality storage system (BESS) in San Bernardino County and is the ultimate part of the 482 MW Daggett Photo voltaic + 394 MW Storage advanced.
“Luna Valley and Daggett 1 characterize two main steps ahead in California’s path to a dependable, reasonably priced and clear electrical grid,” says Brooks Friedeman, VP of capital markets at Clearway. “We’re grateful to our monetary companions, clients and native communities for his or her continued assist for these investments.”
San Diego Fuel & Electrical contracted equal quantities of solar energy and vitality storage from every of the Luna Valley and Daggett Storage 1 initiatives below 15-year PPAs. Luna Valley’s remaining photo voltaic capability is contracted below 20-year agreements with Southern California Edison and Energy & Water Sources Pooling Authority.
Clearway assembled a financial institution consortium consisting of Nord/LB, Societe Generale, KeyBanc Capital Markets, DNB and ANZ to offer development financing for the 2 initiatives.
Building is being led by Blattner. Each initiatives are scheduled to achieve business operations subsequent yr.
