Construction Financing Closed for Battery
Cloudbreak Energy Closes $60 Million Construction Financing with NORD/LB for Pueblo Battery Resource Storage Project
BOULDER, Colo. — September 10, 2026 — Cloudbreak Energy Partners, LLC (“Cloudbreak”), a national renewable energy developer and IPP today announced the closing of $60 million in construction financing for the Pueblo Battery Resource, a 50 MW / 200 MWh battery energy storage system (“BESS”) located in the City of Pueblo, Colorado. The transaction closed on July 31, 2026, with Norddeutsche Landesbank Girozentrale, New York Branch (“Nord”) serving as Administrative Agent, Collateral Agent, Coordinating Lead Arranger and Issuing Bank.
The Financing
Under the financing, Nord committed a construction loan facility of up to $43,000,000 to fund the construction of the project. The facility is complemented by a $17,000,000 letter of credit facility issued in favor of Black Hills Colorado Electric, LLC in support of Cloudbreak’s obligations under the project’s build-transfer agreement Together, the construction loan and letter of credit facilities provide the project with combined financing commitments of up to $60,000,000.
The Project
Upon completion, the Pueblo Battery Resource will be sold to Black Hills Colorado Electric, LLC (“Black Hills”), a subsidiary of Black Hills Corporation (NYSE: BKH), pursuant to a Build-Transfer Agreement. Linxon US LLC is serving as the engineering, procurement and construction (EPC) contractor for the project.
This project will be the first of its kind built in Black Hills territory and will provide load balancing and grid stabilization services to the communities in Pueblo that Black Hills serves. The project also represents Cloudbreak’s first BESS project, paving the way for substantial future BESS development in Cloudbreak’s pipeline.
“This financing demonstrates Cloudbreak’s ability to finance and deliver on grid-scale storage assets. Nord was the right partner for us on this deal, bringing both thoughtful deal structuring and storage-financing expertise to get Pueblo Battery Resource to this milestone. This transaction lays the foundation for the broader battery storage pipeline we’re building across the country,” said Alec Shobe, Chief Operating Officer of Cloudbreak Energy.
Sondra Martinez, Head of Originations Americas at NORD LB, added “We are proud to have led the financing of Pueblo Battery Resource, our first transaction with Cloudbreak Energy. The project represents an innovative battery storage solution supporting Black Hills Energy under a unique Build-Transfer structure. We appreciate the strong commitment and collaboration demonstrated by both Cloudbreak and Black Hills Energy throughout the process and look forward to building on these relationships. This transaction reflects NORD/LB’s continued commitment to supporting the energy transition through tailored financing solutions.”
Advisors
Cloudbreak was represented by Clean Energy Counsel, LLP as legal counsel. Nord was represented by Winston Taylor LLP as legal counsel.
About Cloudbreak Energy Partners
Cloudbreak Energy Partners is a national developer and IPP of distributed, community, and utility-scale solar and storage projects, with a development portfolio of more than 750 MW across the East Coast, Midwest, West Coast, and Colorado. Founded by a team of renewable energy professionals, Cloudbreak is focused on accelerating the renewable energy economy by building lasting relationships with landowners, utilities, communities, and commercial offtakers and by applying project finance expertise and proprietary technology to deliver high-probability project outcomes at scale. Cloudbreak is based in Boulder, Colorado. More information is available at www.cloudbreakenergy.com
About Nord/LB
NORD/LB (Norddeutsche Landesbank – Girozentrale) is one of the leading German commercial banks, headquartered across Hannover, Braunschweig, and Magdeburg, with offices in major financial centers around the world, including New York. Nord serves corporate, institutional, and public-sector customers and has established itself as a premier financier of renewable energy and infrastructure projects, with more than three decades of experience across the wind, solar, storage, hydrogen, and digital infrastructure sectors. Learn more at nordlb.com.
Media Contact
Carrie Bryant
media@cloudbreakenergy.com
