US renewables developer Clearway Energy Group has closed a US$550 million construction loan for its Rosamond South I solar-plus-storage project in Kern County, California.

The lenders are Société Générale, Australia and New Zealand Banking Group, Siemens Financial Services, Commerzbank, CoBank, DNB Bank, and NordLB.  

Rosamond South I will deliver 140 megawatts of solar and 118MW of energy storage capacity. Construction has just started, and commercial operation is expected in 2025.

Rosamond South I will supply electricity to several California load-serving entities under long-term contracts. Among the offtakers with 15-year agreements are renewable power provider MCE, The University of California, Rancho Cucamonga Municipal Utility, Eastside Power Authority, and City of Moreno Valley. The project is also referred to as Golden Fields Solar IV LLC by its offtakers.

The project will expand Clearway’s operating footprint in Kern County to over 1,500MW of wind and solar power and energy storage.