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March 12, 2020

Clearway closes financing for 192MW Rosamond Central solar project

Clearway Energy Group has completed debt financing for the construction of its 192MW Rosamond Central solar project in California's Kern County.

Clearway Energy Group has completed debt financing for the construction of its 192MW Rosamond Central solar project in California’s Kern County.

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In order to finance the solar project, German bank NordLB served as the coordinating lead arranger while CIT and Zions acted as joint lead arrangers.

The Rosamond Central solar project has also stipulated contracts with a group of California-based municipalities and community choice aggregators (CCA), including East Bay Community Energy and Clean Power Alliance.

Clearway Energy Group chief financial officer Steve Ryder said: “We are pleased to contribute to California’s goals of achieving 100% clean energy and to partner with the state’s CCAs as a growing vehicle for energy procurement in the Golden State.

“We appreciate the support of our financing parties in providing the capital necessary to advance Rosamond Central and other projects throughout the United States.”

McCarthy Building Companies is responsible for the construction works of the solar facility. The project is expected to be completed by the end of this year.

Upon completion, Rosamond Central solar project is expected to further enhance Clearway’s footprint in Kern County, where the company currently operates 947MW of renewable energy assets.

With more than 1,500MW of operating projects, Clearway is also one of the largest renewable energy companies in California.

In January this year, CIT Group’s power and energy unit arranged nearly $200m in funding on behalf of Clearway Energy Group for a portfolio of community solar projects in four US states.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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