Clēnera has signed a 20-year power purchase agreement and an energy storage service fee agreement with the local utility Idaho Power, ensuring long-term stable revenue for the project. Ari Citrin, Managing Director of KeyBanc Capital Markets, stated, "The Crimson Orchard project marks our second financing collaboration with Clēnera, and we look forward to continuing to support their development in the U.S. renewable energy market."
In addition to KeyBanc, HSBC, ING Capital, and MUFG Bank participated in this financing, providing construction funding and term loan support for the project. Clēnera's total investment in this solar-plus-storage project has reached $342 million. The project will be integrated into the company's portfolio of 13 GW of clean energy assets in the U.S. that have safe harbor status.
Financing activities in the U.S. solar-plus-storage sector have been frequent recently. Clēnera's parent company, Enlight, completed financing for the County Acres project in California last year and also raised funds for hybrid renewable energy projects in Spain in Europe. With the rapid development of the renewable energy market, related industry events such as the SolarPLUS USA conference will be held in Dallas in March 2026, focusing on hybrid energy project development and grid integration topics.
