Clearway Energy Group has closed financing on two utility-scale solar and storage projects located in Riverside County, Calif., on U.S. Bureau of Land Management (BLM) land.
The Victory Pass and Arica solar projects will generate 463 megawatts of combined clean-energy capacity and 186 megawatts of battery storage, which is enough electricity to power roughly 132,000 homes annually.
The Victory Pass project is fully contracted with two community choice aggregators, Silicon Valley Clean Energy Authority (SVCE) and Central Coast Community Energy (3CE). Arica is fully contracted with three customers, including Clean Power Alliance (CPA) and Peninsula Clean Energy.
In connection with construction of these facilities, Clearway assembled a bank consortium of MUFG, Sumitomo Mitsui Banking Corp., Societe Generale, DNB, Siemens Financial Services, CoBank, HSBC and Wells Fargo for a total of about $1 billion, consisting of construction loans and project letters of credit.
