Clearway Signs 335 MW Power Purchase Agreement with Microsoft
Rhea-AI Summary
Clearway Energy Group has secured a significant long-term power purchase agreement (PPA) with Microsoft for their 335-megawatt Mount Storm wind farm project in Grant County, West Virginia.
Key highlights of the agreement:
- The project will support Microsoft's carbon reduction and sustainability goals
- Mount Storm will be constructed using American-made equipment
- The project promises substantial community benefits, including: - Millions in tax revenue - Hundreds of construction jobs - Funding for community programs
According to Valerie Wooley, Senior Vice President of Origination at Clearway, the company is excited to collaborate with Microsoft on the Mount Storm project, emphasizing their commitment to renewable energy development and local economic growth.
Positive
- Secured major 335 MW power purchase agreement with Microsoft, a high-profile tech customer
- Long-term contract ensures stable revenue stream from Mount Storm wind project
- Project will generate local economic benefits including tax revenue and construction jobs
- Using American-made equipment, reducing supply chain risks
Negative
- None.
Insights
Clearway Energy Group's 335 MW PPA with Microsoft strengthens its project pipeline, with potential future implications for CWEN.
This announcement details a significant commercial milestone for Clearway Energy Group (the private developer), not to be confused with Clearway Energy Inc. (CWEN), the publicly traded yieldco. This distinction is critical for investors to understand.
The 335 MW Mount Storm wind project represents a substantial asset, and securing Microsoft as an offtaker adds considerable value. Corporate PPAs with creditworthy technology companies are highly coveted in the renewable sector as they provide long-term revenue stability and enhance project financiability. While specific terms aren't disclosed, PPAs of this magnitude typically represent significant contracted revenue streams over their lifetime.
The mention of American-made equipment is noteworthy as it likely positions the project to qualify for enhanced tax incentives under the Inflation Reduction Act's domestic content provisions, potentially improving overall project economics.
For CWEN investors, this project represents a potential future growth opportunity if it becomes available for acquisition from the sponsor through their right of first offer (ROFO) arrangement. However, the press release provides no timeline or guarantee of such a transaction, and no financial details that would allow assessment of potential impact on CWEN's future cash flows.
The local economic benefits mentioned, including tax revenue and construction jobs, indicate community support, which typically facilitates smoother development and reduces completion risk.
Clearway’s Mount Storm project to support Microsoft’s carbon reduction goals
SAN FRANCISCO, April 28, 2025 (GLOBE NEWSWIRE) -- Clearway Energy Group (“Clearway”) has signed a long-term power purchase agreement (PPA) with Microsoft for the 335 megawatt (MW) Mount Storm wind farm located in Grant County, West Virginia. Mount Storm will support Microsoft’s sustainability and decarbonization goals by generating carbon-free energy.
“Clearway is thrilled to announce our work with Microsoft on the Mount Storm project. We are proud to support the development of renewable energy and economic growth in the community,” said Valerie Wooley, Senior Vice President of Origination at Clearway.
The Mount Storm project will be built with American-made equipment. In addition, the Mount Storm wind project will deliver significant investment to the community including millions of dollars in tax revenue, hundreds of construction jobs, as well as funding for community benefit programs.
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About Clearway Energy Group
About Clearway Energy
Clearway Energy Group’s vision is a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., our portfolio comprises approximately 11.8 GW of gross generating capacity in 26 states, including 9.1 GW of wind, solar, and battery energy storage assets, and over 2.8 GW of flexible dispatchable power generation providing critical grid reliability services. As we develop a nationwide pipeline of new energy projects for the future, Clearway’s operating fleet generates enough reliable electricity to power more than 2 million homes today. Clearway Energy Group is headquartered in San Francisco with offices in Denver, Houston, Phoenix, Princeton, and San Diego. For more information clearwayenergygroup.com.
Clearway Energy, Inc. is one of the largest owners of clean energy generation assets in the U.S. and is leading the transition to a world powered by clean energy. Our portfolio comprises approximately 11.8 GW of gross capacity in 26 states, including approximately 9.1 GW of wind, solar and battery energy storage systems and approximately 2.8 GW of flexible dispatchable power generation providing critical grid reliability services. Through our diversified and primarily contracted clean energy portfolio, Clearway Energy endeavors to provide its investors with stable and growing dividend income. Clearway Energy, Inc.’s Class C and Class A common stock are traded on the New York Stock Exchange under the symbols CWEN and CWEN.A, respectively. Clearway Energy, Inc. is sponsored by its controlling investor, Clearway Energy Group LLC. For more information, visit investor.clearwayenergy.com.
Media Contact:
Zadie Oleksiw
Senior Director, Communications
202.836.5754 | Zadie.Oleksiw@clearwayenergy.com
FAQ
How many megawatts is Clearway's Mount Storm wind project with Microsoft (CWEN)?
What are the economic benefits of Clearway's Mount Storm wind project in West Virginia?
Is Clearway (CWEN) using American-made equipment for the Mount Storm wind farm?
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Where is Clearway's new 335 MW wind farm with Microsoft located?
