Clearway closes financing of two solar-storage projects in Hawaii

Clearway Energy Group has closed the US$285 million in financing for two solar and storage projects in O’ahu, Hawai’i.

The 39 megawatts (MW) Mililani I Solar and 36 MW Waiawa Solar Power sites will be paired with a combined 300 MWh of storage, becoming among the first integrated utility-scale battery storage and solar projects on the island.

Natixis acted as the Coordinating Lead Arranger, while Canadian Imperial Bank of Commerce and MUFG each acted as Joint Lead Arrangers. JP Morgan Capital Corporation served as the tax equity investor.

Construction is being led by Moss & Associates and is expected to be complete in 2022.