Clearway Energy subsidiary to acquire 40% interest in 649 MW CA solar+storage projects for ~$227.8M

Clearway Energy, Inc.

Subsidiary entered agreement to buy 40% membership interest in VP-Arica TargetCo for ~$227.75M cash.
Target owns two solar plus storage projects in California with total capacity of 649 MW.
Seller is affiliate of Clearway Energy Group (related party); AIP Lorax to buy remaining 60% simultaneously.
Transaction expected to close in Q4 2023, subject to customary conditions and third-party approvals.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Clearway Energy, Inc. entered into Membership Interest Purchase Agreement with VP-Arica CE Seller LLC valued at approximately $227,754,913 million (effective 2022-12-23).

Action: entry
Agreement: asset purchase
Counterparty: VP-Arica CE Seller LLC
Value: approximately $227,754,913 million
Effective: 2022-12-23

Exact text from the filing

On December 23, 2022, VP-Arica Parent Holdco LLC (the “ Purchaser ”), a subsidiary of Clearway Energy, Inc. (the “ Company ”), entered into a Membership Interest Purchase Agreement (the “ Purchase Agreement ”) with VP-Arica CE Seller LLC (the “ Seller ”), an affiliate of Clearway Energy Group LLC.

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Clearway Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-130953

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