Yahoo Finance Cordelio Power Advances Four Projects into Construction, One into Operations
NEW YORK, Oct. 15, 2024 /CNW/ - Cordelio Power is pleased to announce the advancement of four development projects into active construction, and one project into full commercial operations, as follows:
Advanced into Construction under Full Notice to Proceed:
Crossover is a 135 MW wind project located in Cross County, Arkansas.
Winfield is a 150 MW AC solar project in Lincoln County, Missouri.
Box Canyon is a 300 MW AC solar project in Pinal County, Arizona (50% owned by BrightNight).
McHenry is a 20 MW / 40 MWh battery energy storage system located in McHenry County, Illinois.
Advanced into Commercial Operations:
Moraine Sands is a 165 MW wind project located in Mason County, Illinois.
The company expects all four construction projects to achieved commercial operations by the first half of 2025. All projects (except McHenry) will deliver their power under 15- or 20-year power purchase agreements.
Approximately $1.3 billion of financings have been completed for the five projects.
"Construction is progressing well across all projects and we are pleased to be working with a strong group of primary contractors including Mortenson, Blattner, Qcells and Pepper Energy to bring these projects through to completion," said Paul Rapp, Cordelio's Chief Operating Officer.
"We're pleased to announce this next wave of projects, as we ramp into our long-term growth goals," said John Carson, Cordelio's Chief Executive Officer. "We're also preparing for the future, with new interconnections filed this year totalling over 6,000 MW of wind projects and 2,500 MW of storage projects, all in the MISO and Pacific northwest power markets. We're excited to continue bringing good business opportunities to all the communities we serve."
About Cordelio Power
Cordelio Power is an independent renewable power producer that develops, owns, and manages renewable power facilities across the United States and Canada. Cordelio strives to work with all of our stakeholders in an efficient, safe, and environmentally responsible manner. With over 1,400 MW of operating assets under management, Cordelio also oversees a growth pipeline of over 20,000 MW of wind, solar and energy storage projects. Cordelio is wholly owned by CPP Investments.
Forward Looking Statements & Information
Certain information contained in this news release constitutes forward-looking information or forward-looking statements (collectively, "forward-looking statements"). All statements other than statements of historical fact are forward‐looking statements. Forward‐looking statements typically contain words such as "anticipate", "believe", "confirms", "continuous", "estimate", "expect", "may", "plan", "project", "should", "will", or similar words suggesting future outcomes, and include, without limitation, all financial projections, estimates of future costs, and projected performance or results. Forward-looking statements by their nature are subject to risks, assumptions and uncertainties which may cause the actual outcomes of such events to differ from Cordelio's expectation as of the date hereof. Whether forward-looking statements ultimately prove to be accurate will depend on factors outside of the control of Cordelio. Readers are encouraged to undertake their own analysis and investigation as to the reasonableness of any such forward-looking statements. Forward-looking statements contained in this news release are made as at the date of this news release and Cordelio disclaims any intent or obligation to update or to revise any of the included forward-looking statements.
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SOURCE Cordelio Power
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