Clearway and PacifiCorp Sign Additional 210 MW of Battery Energy Storage in Utah

Clearway closes financing and begins construction on expanded grid-enhancing Honeycomb Energy Center in Beaver and Iron counties

SAN FRANCISCO - Clearway Energy Group ("Clearway") today announced an additional 210 megawatts (MW) of battery energy storage to its Honeycomb Energy Center fleet in southern Utah, supported by long-term contracts with PacifiCorp. The new storage capacity will help balance supply and demand on Utah's electrical grid.

To finance the approximately $400 million energy center, Clearway assembled a bank consortium consisting of Key Bank (CLA), US Bank, NordLB and Co Bank. Clearway Energy, Inc., entered into an agreement to invest in the project upon commercial operations.

"We're proud to expand our Honeycomb storage portfolio in partnership with PacifiCorp to support Utah's growing economy," said Valerie Wooley, Senior Vice President of Origination at Clearway. "This new energy storage infrastructure will help ensure grid and cost resiliency as power demand grows in the region."

The new contracts enable three new energy storage facilities to advance the second phase of the Honeycomb Energy Center, increasing Clearway's Utah storage fleet to seven systems capable of storing and deploying 2,120 megawatt-hours. The company brought the first four Honeycomb energy storage sites online earlier this year. Each storage installation is located adjacent to an operating Clearway solar site, also under contract with PacifiCorp.

The expansion builds on Clearway's presence as an employer, taxpayer, and philanthropic partner in the state. Clearway partnered with Rosendin on construction, which will create at least 150 jobs. In total, Clearway's three new Honeycomb Energy Center projects will:

• Support Beaver and Iron counties' public services with $37 million in additional tax revenue during operations, for a total of more than $95 million from the Honeycomb projects.
• Contribute an additional $60,000 in annual donations to Utah schools and community organizations, for a total of $100,000 each year from the seven sites.

"Clearway Energy has become an important part of Beaver County's growing energy economy, bringing investment, jobs, and new revenue that benefits our communities and residents," said Matt Sterzer, Beaver County Economic Development Manager.

Clearway's long-standing relationship with PacifiCorp has enabled 1.4 GW of power projects since 2008, including over 1 GW in Utah, representing $1.5 billion in investments and one of Clearway's largest state footprints.