Clearway Energy Group has announced that it closed financing and began construction on the Swan Energy Center, a 650 megawatt (MW) solar facility on formerly strip-mined land in northwestern Bates County, Missouri. It is the company's first project in the state. The plant is contracted under a 20-year power purchase agreement (PPA) and belongs to a 1.2 GW portfolio unveiled earlier this year. Such announcements are multiplying in the US market, as shown by the 200 MW Blackwater solar project launched by Ørsted in New Mexico.

A $1.5 billion financing package

To finance the $1.5 billion facility, Clearway assembled a bank consortium led by Canadian Imperial Bank of Commerce, DNB Bank ASA and National Australia Bank Limited. Similar financing structures are spreading across the solar sector, as illustrated by the reported approval by State Bank of India of financing for the Onix IPP portfolio. According to the company, Clearway Energy, Inc. entered into an agreement to invest in the project upon commercial operations.

Clearway partnered with Blattner Energy on construction. The work is expected to create up to 500 construction jobs at peak activity, the company says, and several long-term technician positions will be available once the plant is online. The project will use American-made solar panels and other equipment.

Commitments to Bates County

Clearway structured a 30-year Payment in Lieu of Taxes (PILOT) agreement with Bates County. According to the company, it will generate more than $80 million in new revenue for the local school district and other county services over the life of the agreement.

The company has also committed $1 million this year to help the county purchase emergency equipment. It plans $288,000 annually for the first ten years of operations to support 24 townships and road districts for their road and bridge departments. A further $200,000 will go to the towns of Amoret and Amsterdam to improve their public safety equipment.

Commercial operations expected in 2028

The plant is expected to begin commercial operations in 2028. Clearway says it would generate enough electricity each year for approximately 200,000 homes, and describes the project as support for load growth in the region.

The site will maintain native grasses and floral resources to support habitat for pollinator species such as the monarch butterfly. The company says this should also improve soil drainage and health. John Woody, Chief Development Officer at Clearway, describes the project as a significant investment in Bates County.