TotalEnergies Acquires Stake in Clearway from GIP for $1.6 Billion

The acquisition of a 50% stake in Clearway Energy Group—the fifth largest U.S. renewable energy player—marks TotalEnergies’ largest acquisition in renewable energy in the U.S.

Hart Energy Staff
TotalEnergies Acquires Stake in Clearway from GIP for $1.6 Billion

Headquartered in San Francisco, Clearway has a 25 GW pipeline of renewable and storage projects across 34 states in the U.S. (Source: Shutterstock.com)

TotalEnergies agreed to acquire 50% of San Francisco-based Clearway Energy Group in a billion-dollar transaction that marks a new partnership with Clearway sponsor, Global Infrastructure Partners (GIP).

“We are delighted with this partnership with Global Infrastructure Partners, which is a major player in renewables, particularly in the United States,” Patrick Pouyanné, chairman and CEO of TotalEnergies, commented in a company release on May 25.

With 760 employees, Clearway is the fifth largest U.S. renewable energy player. The company has a 25 GW pipeline of renewable and storage projects across 34 states. Of those projects, 7.7 GW of wind and solar assets in operation through its listed subsidiary, Clearway Energy Inc., and 15 GW are in an advanced stage of development.

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