Construction started on 200 MW Solar and Battery Energy Storage Facilities in USA
Clearway Energy Group has closed more than US$700 million in construction financing and has begun construction on two major energy projects in Fresno and San Bernardino counties in California, USA.
The two projects are as follows:
- Luna Valley is a 200 MW solar project in Fresno County;
- Daggett Storage is a 113.5 MW standalone battery energy storage project in San Bernardino County and is the final phase of the 482 MW Daggett Solar + 394 MW Storage complex.
San Diego Gas & Electric (SDG&E) contracted equal amounts of solar power and energy storage from each of the Luna Valley and Daggett Storage 1 projects under 15-year agreements to achieve a virtually paired hybrid contract. Luna Valley’s remaining solar capacity is contracted under 20-year agreements with Southern California Edison and the Power & Water Resources Pooling Authority.
Clearway assembled a bank consortium consisting of Nord/LB, Societe Generale, KeyBanc Capital Markets Inc., DNB, and ANZ to provide construction financing for the two projects. Blattner is leading the construction. Once complete, Luna Valley Solar will generate enough reliable electricity to power more than 80,000 homes annually. Both projects are scheduled to reach commercial operations in 2025.
