$60 Million Construction Financing Closed for First Battery Storage Project in Black Hills' Colorado Territory

Clean Energy Counsel represented Cloudbreak Energy Partners in closing $60 million in construction financing for the Pueblo Battery Resource, a 50 MW / 200 MWh battery energy storage system in Pueblo, Colorado.

The financing pairs a construction loan facility of up to $43 million with a $17 million letter of credit facility issued in favor of Black Hills Colorado Electric, which backs Cloudbreak's obligations under the project's build-transfer agreement. The project will be the first of its kind in Black Hills' service territory, providing load balancing and grid stabilization for the Pueblo communities the utility serves.

The Clean Energy Counsel team was led by Jordan Dansby and included Brett Martino, Tyler Quintero, Claire Ferguson, and Joel Beacher.

Read Cloudbreak's full announcement here.