US renewables developer Clearway Energy Group has secured USD 174 million (EUR 163.5m) in financing and started construction of the Dan’s Mountain wind farm in Allegany County, Maryland, the company said on Thursday.
Clearway unlocked construction loans and letters of credit from a consortium of three banks — Societe Generale, Natixis, and Australia and New Zealand Banking Group (ANZ) to finance the 55-MW wind project. Additionally, the company announced a long-term power purchase agreement (PPA) with US utility Constellation Energy Corporation (NASDAQ:CEG), which procured the entire output from Dan’s Mountain.
Clearway’s new onshore wind farm is the first to be built in Maryland in almost ten years and is expected to increase the state’s wind power generation capacity by around 30%. The wind farm will be constructed on former coal mining land, highlighting the energy transition in the Appalachian region, Clearway said.
Construction is being carried out by White Construction, while the wind turbines will be supplied by GE Vernova. Once in operation, Dan’s Mountain will have the capacity to power nearly 24,400 homes.
(USD 1.0 = EUR 0.939)
Read More: Clearway closes finance for 55-MW wind farm project in Maryland