Clearway Closes Financing and Begins Construction on $261 Million Grid-Enhancing Energy Center in Colorado - Clearway Energy

Key metadata

Signal ID

31c35a53e6bbddc59edf

Signal type

construction

Source category

developer

Source

Clearway

Published at

2026-02-05T00:00:00Z

Original source

Clearway

Summary

Clearway Energy Group has closed financing and commenced construction on the $261 million Spindle Energy Center, a 199 MW / 398 MWh battery energy storage system in Weld County, Colorado. The project will utilize American-made 2-hour Tesla batteries and is contracted with Xcel Energy's subsidiary, Public Service Company of Colorado, under a long-term agreement.

Why it matters

The commencement of construction, following financing closure, indicates a significant step in project development, moving from planning to physical buildout. This milestone suggests a firm commitment of capital and resources, potentially signaling future revenue streams for Clearway and a tangible increase in grid storage capacity for Xcel Energy in Colorado.

Source excerpt

San Francisco – Clearway Energy Group (“Clearway”) announced today that it closed financing and began construction on the Spindle Energy Center, a 199 megawatt (MW) energy storage system in Weld County, Colorado. Spindle Energy Center will use American-made 2-hour Tesla batteries and store up to 398 MWh of dispatchable power. “Spindle represents a significant investment in Weld County’s energy future, delivering reliable storage and economic benefits to the region,” said John Woody, Chief Development Officer. “We are deeply grateful to our partners for their collaboration and look forward to continuing our work with the local community, our customer, and lenders.” Spindle is contracted with Xcel Energy’s subsidiary in Colorado, Public Service Company of Colorado under a long-term agreement that provides the energy company with dispatchable, reliable power. To finance the $261 million…