Clearway Closes Financing and Begins Construction on $605 Million Grid-Enhancing Battery Energy Storage Portfolio in Utah

The Honeycomb portfolio totaling 320 MW battery energy storage will provide cost-effective, reliable, and dispatchable energy for the PacifiCorp service territory
Located adjacent to operating solar plants in Iron and Beaver counties

SAN FRANCISCO – Today, Clearway Energy Group (“Clearway”) announced that it closed financing and began construction on its Honeycomb portfolio, which comprises four battery energy storage systems (BESS) projects adjacent to an operating solar energy portfolio owned and operated by Clearway. Each 80-megawatt (MW) project will use four-hour Tesla batteries and collectively store up to 1,280 MWh of dispatchable power.

“Clearway has been operating clean and reliable energy assets in Utah since 2008. We are proud to expand our presence and economic commitment in Utah with the Honeycomb portfolio, which will bring our total fleet in the state to 869 megawatts. The Honeycomb battery energy storage systems represent not only a major investment in grid stability in Utah, but also advances Utah’s goal of energy security for the state,” said Steve Ryder, Chief Financial Officer for Clearway. “We value our partnerships with our financial partners, PacifiCorp, and the Iron and Beaver County communities for their collective support in bringing reliable, dispatchable power to the region.”

“Utah has long been a leader in energy innovation, and the Honeycomb BESS portfolio is another step forward in delivering clean, reliable, and dispatchable power to our communities,” said U.S. Senator John Curtis (R-UT). “By expanding battery storage capacity right here in our state, Clearway Energy Group is driving solutions that strengthen both our economy and our environment.”

Honeycomb is contracted with PacifiCorp under a 20-year toll agreement that provides the utility with dispatchable, reliable power.

To finance the $605 million portfolio, Clearway assembled a bank consortium consisting of KeyBanc Capital Markets Inc., CoBank ACB, DNB Bank ASA, New York Branch, U.S. Bancorp Impact Finance (a U.S. Bank subsidiary), National Australia Bank Limited, Bank of America, National Association and Norddeutsche Landesbank Girozentrale, New York Branch.

Clearway partnered with Rosendin on the project’s construction, which will create up to fifty above-prevailing-wage jobs. Approximately 15 percent of total worked hours will be fulfilled by apprentices.

“Beaver County continues to lead in renewable energy innovation, and the implementation of a Battery Energy Storage System (BESS) is a testament to that commitment,” said Jen Wakeland, Strategic Development Director in Beaver County. “By integrating advanced storage solutions, we maximize the value of our renewable energy resources, ensuring reliability, efficiency, and long-term sustainability for our community and beyond.”

Once operating, Honeycomb will contribute $60 million in property and sales taxes to the local community over the life of the projects to support area schools, hospitals, and other public services.

The projects will reach commercial operations in 2026.

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About Clearway Energy

Clearway Energy Group’s vision is a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., our portfolio comprises approximately 11.8 GW of gross generating capacity in 26 states, including 9.1 GW of wind, solar, and battery energy storage assets, and over 2.8 GW of conventional dispatchable power generation 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. For more information, visit clearwayenergygroup.com.

Clearway Energy, Inc. is one of the largest owners of clean energy generation assets in the U.S. and is leading the transition to a world powered by clean energy. Our portfolio comprises approximately 11.8 GW of gross capacity in 26 states, including approximately 9.1 GW of wind, solar and battery energy storage systems and approximately 2.8 GW of conventional dispatchable power capacity that provide 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 Class C and Class A common stock are traded on the New York Stock Exchange under the symbols CWEN and CWEN.A, respectively. Clearway Energy, Inc. is sponsored by its controlling investor, Clearway Energy Group LLC. For more information, visit investor.clearwayenergy.com.