Posted on April 22, 2024
Clearway Energy Group (Clearway) has announced today it closed $174 million in construction financing and has begun construction on Dan’s Mountain, a 55 MW wind farm in Allegany County, Maryland, USA.
Dan’s Mountain is the first new onshore wind farm to be constructed in Maryland in nearly ten years. The Dan’s Mountain project is fully contracted under a long-term power purchase agreement (PPA) with Maryland-based Constellation. To finance the construction of the wind farm, Clearway assembled a bank consortium consisting of Société Générale, Natixis, and Australia and New Zealand Banking Group (ANZ). The credit facilities provided by these three lenders totalled $174 million, consisting of construction loans and letters of credit. Construction is being led by White Construction, a MasTec Renewables company, and wind turbines will be supplied by GE Vernova.
