#United States #Lincoln County #Cordelio Power #Winfield Solar #Microsoft Contract

Cordelio Power Launches the Winfield Solar Project

Cordelio Power has officially announced the commencement of commercial operations for its Winfield solar project, marking a significant milestone in the company's efforts to expand renewable energy production in Missouri. This innovative project, generating a total of 150 megawatts (MW) of AC power, will predominantly supply energy to tech giant Microsoft through a long-term contract.

Project Overview

The Winfield solar project is situated in Lincoln County, Missouri, and represents Cordelio's inaugural venture in this crucial state. The completion of this project not only showcases Cordelio's commitment to renewable resources but also underscores its dedication to collaborating with local stakeholders, including officials and landowners. According to John Carson, CEO of Cordelio Power, the experience with the Missouri community has been overwhelmingly positive, allowing for smooth project progression.

Strategic Partnerships

The construction and engineering of this large-scale solar initiative were executed by Qcells, a leading solar technology company known for its manufacturing prowess in Georgia. Paul Rapp, COO of Cordelio, expressed satisfaction with the partnership, highlighting that Qcells provided not only high-quality solar modules but also efficient construction services. This collaboration has ensured that the project transitioned successfully into its operational phase.

An essential component of the project's financial framework is its funding from several prominent lenders, including MUFG, National Bank of Canada, SMBC, and Rabobank. Together, they facilitated the provision of a construction loan facility amounting to $207 million, alongside a term loan of $106 million. Fifth Third Bank also played a pivotal role by partnering with Cordelio through tax equity investment, further solidifying the financial stability of the Winfield solar project.

Community Engagement and Future Prospects

As Cordelio Power looks forward to potential project expansions, they remain committed to ensuring environmentally responsible practices and community welfare. The Winfield project serves as a launching pad for several other initiatives currently being developed across Missouri, demonstrating Cordelio's long-term vision in the renewable energy sector. Jon Stark from Fifth Third Bank noted the importance of building enduring relationships with leading renewable energy platforms, indicating future collaborative opportunities.

Context and Impact

The acquisition of the Winfield site occurred in late 2020 from Dakota Renewable Energy, a joint venture that began its developmental efforts in 2017. With the support of consulting firms such as Latham & Watkins for legal matters and Marathon Capital for tax credit transactions, the project's development has followed a structured approach. Cordelio Power's robust pipeline now encompasses a staggering 18,000 MW of projects, further enhancing its role as an influential independent power producer across North America.

In summary, the successful launch of the Winfield solar project represents a significant advancement in sustainable energy efforts in Missouri, with Cordelio Power leading the charge. Their commitment to renewable energy, collaboration with communities, and strategic partnerships underscores their dedication to building a greener future.

About Cordelio Power

Cordelio Power is recognized as an independent power producer specializing in the development, construction, and operation of wind, energy storage, and solar facilities. With an impressive operational portfolio of 1,860 MW and a growth focus of over 18,000 MW across the United States and Canada, Cordelio strives for excellence in both performance and environmental responsibility. The company is wholly owned by the Canada Pension Plan Investment Board, showcasing its strong financial backing and market presence in the renewable energy industry.