Clearway Energy Group announced it closed more than$700 million in construction financing and has begun construction on two major energy projects in Fresno and San Bernardino counties in California.

Luna Valley is a 200 MW solar project in Fresno County,and 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.

“Luna Valley and Daggett 1 represent two major steps forward in California’s path to a reliable,affordable,and clean electric grid,”said Brooks Friedeman,VP of Capital Markets at Clearway.“We are grateful to our financial partners,customers,and local communities for their continued support for these investments.”

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 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.

In October 2023,Clearway announced it reached commercial operations on the first two phases of Daggett Solar+Storage,California’s largest hybrid solar and battery storage facility.

Located adjacent to the decommissioned Coolwater gas-fired power plant,the Daggett Solar+Storage project encompasses 482 MW solar and 280 MW/1,120 MWh energy storage and is one of the largest operating solar and storage hybrid facilities in the country.

（Picture: Veer）