Clearway Powers Up: Closes Financing on CA's Largest Battery

• Clearway Energy Group has closed a 147-MW/588-MWh battery energy storage system project in California's Kern County. Financing came from a consortium of lenders, HASI, Clearway Energy Inc, and a committed tax equity investment. SCE will purchase the energy storage capacity to help improve grid reliability. SEO writer with 10 years experience.

Clearway Energy Group has closed financing on a battery energy storage system (BESS) project in California’s Kern County. The 147-MW/588-MWh facility, which entered construction in April, is to be coupled with an existing 192-MW solar park. Financing for the project was obtained from a consortium of lenders, cash equity from climate investment firm HASI and Clearway Energy Inc, and a committed tax equity investment. Utility Southern California Edison (SCE) will purchase the energy storage capacity under a long-term contract to help improve grid reliability during peak demand periods.

What Financing Enabled Clearway's BESS Project?

• Financing for the project was obtained from a consortium of lenders, with cash equity from climate investment firm HASI and Clearway Energy Inc.
• A committed tax equity investment was also provided to close the financing.
• Utility Southern California Edison (SCE) entered into a long-term contract to purchase the energy storage capacity of the BESS project.
• The BESS project is expected to improve grid reliability during peak demand periods.
• The 147-MW/588-MWh facility entered construction in April of this year.
• The BESS project is coupled with an existing 192-MW solar park in Kern County.