San Francisco: Clearway Energy Group announced it has secured $700 million in financing and started construction on two major California energy projects.
The first, Luna Valley, is a 200-megawatt solar farm in Fresno County. The second, Daggett Storage, is an 113.5-megawatt battery storage facility in San Bernardino County, completing the Daggett Solar + Storage complex.
These projects are backed by long-term agreements with San Diego Gas & Electric, Southern California Edison, and the Power & Water Resources Pooling Authority. Clearway has partnered with Blattner for construction.
Once operational in 2025, Luna Valley will power over 80,000 homes. Together, these projects add to Clearway’s growing portfolio of over 2.3 gigawatts of solar and storage in California.
“These projects are crucial to California's clean energy goals,” said Brooks Friedeman, Clearway’s VP of Capital Markets. “We’re grateful for the support of our partners, customers, and communities.”
A consortium of banks, including Nord/LB, Societe Generale, KeyBanc Capital Markets, DNB, and ANZ, provided financing for both projects.