Clearway Energy to acquire solar and battery assets for ~$143M; CEO to depart June 30

Clearway Energy LLC

Purchased Luna Valley Solar (200 MWAC) and Daggett Battery Storage (113 MW) for base prices of $89.7M and $53.2M, respectively.
Closing expected in H2 2025, subject to customary conditions and third-party actions.
CEO Christopher S. Sotos to step down effective June 30, 2024, with consulting agreement through August 31, 2024.
Consulting fee: $33,334 per two-month term, plus $1,500/hour for hours over 20 per period.

item 1.01 item 5.02 item 9.01

Executive movements

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Departed

Christopher S. Sotos

President and Chief Executive Officer

Clearway Energy LLC

Effective: 2024-06-30
Filed: July 30, 2024, 7:59 PM ET

Christopher S. Sotos informed Clearway Energy, Inc. (“ Clearway, Inc. ”), the parent company of the Company, on April 30, 2024 that, effective as of June 30, 2024, he will move on from his position as President and Chief Executive Officer of Clearway, Inc. and the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Christopher S. Sotos departed as President and Chief Executive Officer at Clearway Energy LLC.

Action: move on
Role: President and Chief Executive Officer

Exact text from the filing

Christopher S. Sotos informed Clearway Energy, Inc. (“ Clearway, Inc. ”), the parent company of the Company, on April 30, 2024 that, effective as of June 30, 2024, he will move on from his position as President and Chief Executive Officer of Clearway, Inc. and the Company.

View on SEC.gov

Source: SEC EDGAR

accession 0001104659-24-083960

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