Clearway finances, breaks ground on California solar-storage project

US renewables developer Clearway Energy Group has closed on a USD-550-million (EUR 492.7m) construction loan for its Rosamond South I solar-plus-storage project in Kern County, California, the company announced on Monday.

Construction of Rosamond South I, which will deliver 140 MW of solar and 118 MW of energy storage capacity, has just started, Clearway said, expecting the new hybrid plant to reach commercial operation in 2025.

Clearway secured the financing from a bank consortium consisting of Societe Generale, Australia and New Zealand Banking Group Limited Siemens Financial Services, Commerzbank, CoBank, DNB Bank ASA, and Nord/LB.

Engineering, procurement, and construction (EPC) contractor McCarthy Building Companies Inc is leading the construction, which is expected to create more than 400 union labour jobs. Once in operation, Rosamond South I will supply its electricity to several California load-serving entities under long-term contracts. Among the off-takers with 15-year agreements are community choice renewable power provider MCE, The University of California, Rancho Cucamonga Municipal Utility, Eastside Power Authority, and City of Moreno Valley.

Rosamond South I is also referred to as Golden Fields Solar IV LLC by its off-takers, Clearway explained.

With the latest project, Clearway’s operational capacity in Kern County will exceed 1,500 MW across wind, solar and energy storage technologies.

(USD 1.0 = EUR 0.896)

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