Clearway Energy Group has announced an additional 210 MW of battery energy storage capacity for its Honeycomb Energy Center portfolio in southern Utah, backed by long-term contracts with PacifiCorp. The expansion is expected to strengthen grid reliability by helping balance electricity supply and demand across Utah’s power network.
To finance the approximately $400 million energy center, Clearway assembled a bank consortium consisting of Key Bank (CLA), US Bank, NordLB and Co Bank. Clearway Energy, Inc., entered into an agreement to invest in the project upon commercial operations.
“We’re proud to expand our Honeycomb storage portfolio in partnership with PacifiCorp to support Utah’s growing economy,” said Valerie Wooley, Senior Vice President of Origination at Clearway. “This new energy storage infrastructure will help ensure grid and cost resiliency as power demand grows in the region.”
The new contracts enable three new energy storage facilities to advance the second phase of the Honeycomb Energy Center, increasing Clearway’s Utah storage fleet to seven systems capable of storing and deploying 2,120 megawatt-hours. The company brought the first four Honeycomb energy storage sites online earlier this year. Each storage installation is located adjacent to an operating Clearway solar site, also under contract with PacifiCorp.
The expansion builds on Clearway’s presence as an employer, taxpayer, and philanthropic partner in the state. Clearway partnered with Rosendin on construction, which will create at least 150 jobs. In total, Clearway’s three new Honeycomb Energy Center projects will:
Support Beaver and Iron counties’ public services with $37 million in additional tax revenue during operations, for a total of more than $95 million from the Honeycomb projects.
Contribute an additional $60,000 in annual donations to Utah schools and community organizations, for a total of $100,000 each year from the seven sites.
“Clearway Energy has become an important part of Beaver County’s growing energy economy, bringing investment, jobs, and new revenue that benefits our communities and residents,” said Matt Sterzer, Beaver County Economic Development Manager.
Clearway’s long-standing relationship with PacifiCorp has enabled 1.4 GW of power projects since 2008, including over 1 GW in Utah, representing $1.5 billion in investments and one of Clearway’s largest state footprints.
Clearway Energy Group’s vision is a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., our portfolio comprises over 14 GW of gross generating capacity in 27 states, including over 2.8 GW of flexible dispatchable power generation and 11.4 GW of battery energy storage, solar, and wind assets providing critical grid reliability services. As we develop a nationwide pipeline of new energy projects for the future, Clearway’s operating fleet generates enough reliable electricity to power more than 2 million homes today. Clearway Energy Group is headquartered in San Francisco with offices in Denver, Houston, Phoenix, Princeton, and San Diego.
Clearway Energy, Inc. is one of the largest owners of clean energy generation assets in the U.S. Our portfolio comprises approximately 13.9 GW of gross capacity in 27 states, including approximately 11.1 GW of wind, solar and battery energy storage systems and approximately 2.8 GW of flexible dispatchable power generation providing critical grid reliability services. Through our diversified and primarily contracted clean energy portfolio, Clearway Energy endeavors to provide its investors with stable and growing dividend income. Clearway Energy, Inc.’s common stock is traded on the New York Stock Exchange under the symbol CWEN. Clearway Energy, Inc. is sponsored by its controlling investor, Clearway Energy Group LLC.
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