EXECUTIVE SUMMARY

Clearway Energy Group, a San Francisco-based renewable energy developer, has secured financing and begun construction on an additional 210 MW of battery energy storage capacity at its Honeycomb Energy Center in southern Utah. Announced on October 9, 2026, the expansion is supported by long-term contracts with PacifiCorp and covers three new battery energy storage facilities in Beaver and Iron counties. The additional capacity is intended to help balance electricity supply and demand across Utah’s grid.

The approximately $400 million energy center is being financed through a banking consortium assembled by Clearway, comprising Key Bank (CLA), US Bank, NordLB and Co Bank. Clearway Energy, Inc., has also entered into an agreement to invest in the project upon commercial operations. The financing milestone allows construction to proceed on the second phase of the Honeycomb Energy Center.

The three new storage facilities will increase Clearway’s Utah battery storage fleet to seven systems, with a combined capability to store and deploy 2,120 MWh of electricity. Earlier in 2026, Clearway brought the first four Honeycomb energy storage sites online. Each battery installation is located adjacent to an operating Clearway solar facility, which is also under contract with PacifiCorp. The expanded portfolio will provide additional storage capacity to support electricity demand and grid reliability.

Clearway has partnered with Rosendin for construction of the three new facilities. Construction activities are expected to create at least 150 jobs. During operations, the new Honeycomb projects are expected to generate an additional $37 million in tax revenue for Beaver and Iron counties, bringing total projected tax contributions from the Honeycomb projects to more than $95 million. The revenue will support local public services.

The expansion will also increase Clearway’s annual contributions to Utah schools and community organizations by $60,000. With the additional commitments, total annual donations from the seven Honeycomb sites will reach $100,000, extending the company’s existing community investment activities.

Clearway’s relationship with PacifiCorp dates back to 2008 and has supported 1.4 GW of power projects, including more than 1 GW in Utah. These projects represent $1.5 billion in investments and make Utah one of Clearway’s largest state footprints. The latest Honeycomb expansion strengthens the companies’ existing collaboration while adding battery storage infrastructure intended to support grid and cost resilience as regional electricity demand grows.