Cordelio Power Energizes 150 MW Winfield Solar Project, Powering Missouri with American-Made Solar Modules

Project Financing Completed with Fifth Third Bank and Key Relationship Lenders

NEW YORK, Sept. 9, 2025 /PRNewswire/ - Cordelio Power is pleased to announce that the company's Winfield solar project has achieved commercial operations. The project, sized at 150 MW AC, is located in Lincoln County, Missouri.

The project will sell 100% of its power to Microsoft under a 15-year contract.

"We are pleased to complete Winfield as our first project in Missouri, a priority state where Cordelio has several other projects in development," said John Carson, Cordelio's Chief Executive Officer. "We have had nothing but a positive experience with the community, including the Lincoln County officials, our landowners, and the community at large."

The Winfield project was designed and built by Qcells, which provided EPC services and solar modules including those manufactured in Georgia.  "We're quite pleased to be using the Qcells module platform, as well as their construction service business," said Paul Rapp, Cordelio's Chief Operating Officer. "Qcells worked closely and well with us to ensure construction went smoothly, and have helped us transition into the initial period of operations."

Cordelio also completed project financing for the Winfield project with lenders MUFG, National Bank of Canada, SMBC, and Rabobank providing a $207 million construction loan facility and a $106 million term loan facility. Fifth Third Bank has partnered with Cordelio at the project through a tax equity investment, with a third party purchasing a portion of Winfield's investment tax credits.

"Fifth Third Bank was pleased to partner with Cordelio on Winfield's tax equity financing," said Jon Stark, Head of Renewables at Fifth Third Bank. "As we aim to build lasting partnerships with premier renewable platforms, we look forward to future opportunities to support Cordelio as they continue to execute on their robust U.S. renewables pipeline."

Cordelio acquired the Winfield solar project in late 2020 from Dakota Renewable Energy, LLC ("DRE"), a joint venture between Dakota Power Partners, LLC and Eolian, L.P., which began development of the site in late 2017. Latham & Watkins advised Cordelio on legal matters for these transactions, and Marathon Capital advised with respect to the sale of tax credits.

www.cordeliopower.com 

About Cordelio Power

Cordelio is an independent power producer that develops, builds and operates wind, energy storage and solar facilities. Cordelio manages a 1,860 MW operating portfolio across the United States and Canada and a US development growth pipeline of over 18,000 MW of projects. We strive to work with all of our stakeholders in an efficient, safe, and environmentally responsible manner. Cordelio is wholly owned by Canada Pension Plan Investment Board.

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.

SOURCE Cordelio Power