Clearway Energy Group (Clearway), headquartered in San Francisco, announced that it closed financing and began construction on its Honeycomb portfolio in Beaver County, Utah, which comprises four battery energy storage system (BESS) projects, adjacent to a solar energy portfolio owned and operated by Clearway. Each 80 MW BESS project will use four-hour Tesla batteries and collectively store up to 1,280 MWh of dispatchable power.
Along with its public affiliate Clearway Energy, Inc., which is one of the largest owners of clean energy generation assets in the US, the company’s portfolio comprises approximately 11.8 GW of gross generating capacity in 26 states, including 9.1 GW of wind, solar, and BESS assets, and over 2.8 GW of conventional dispatchable power generation providing critical grid reliability services.
Clearway has been operating clean and reliable energy assets in Utah since 2008. The Honeycomb portfolio will bring its total fleet in the state to 869 MW. The Honeycomb BESS represent not only a major investment in grid stability in Utah, but also advances the state’s goal of energy security.
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, US Bancorp Impact Finance (a US 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 50 above-prevailing-wage jobs. Once operating, Honeycomb will contribute $60 million in property and sales taxes to the local community over the life of the projects to support the area’s schools, hospitals, and other public services.
The projects will reach commercial operations in 2026.