Wind Power

10 Jul 2024

Clearway Closes Financing for USD-269M Wind Park Repowering in Texas

10 Jul 2024  by renewablesnow   

US renewables developer Clearway Energy Group has initiated work on the USD-269-million (EUR 248.5m) repowering of the Cedro Hill wind farm in Webb County, South Texas, after closing the necessary financing for the project.

Clearway said in a statement on Monday that it raised USD 261 million in construction, term loan, and letter of credit facilities from a bank consortium including DNB Markets Inc, Canadian Imperial Bank of Commerce, New York Branch (CIBC), National Australia Bank Ltd (NAB) and Deutsche Zentral-Genossenschaftsbank, New York branch (DZ).

The repowering of Cedro Hill, with a current capacity of 150 MW coming from 100 turbines, involves the replacement of the blades and nacelle with General Electric (GE) equipment across the entire site. Wanzek Construction Inc is handling the process, including the recycling aspect of the project. The repowering will increase the wind park’s total capacity to 160 MW and add another 15 years to its operating life.

First launched in 2010, Cedro Hill has been selling 100% of its power to municipal electric and gas utility CPS Energy under a long-term contract, which has now been extended. Once complete, the repowered wind park will generate enough electricity to supply almost 40,000 homes during peak hours.

This is Clearway’s fifth wind farm repowering in Texas and sixth across its portfolio, representing more than 700 MW of upgrades.


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