TotalEnergies has announced a $1.6 billion deal with Global Infrastructure Partners (GIP) to acquire 50% of the US’ fifth-largest renewables developer, Clearway Energy Group (CEG).
The supermajor said the deal was its largest renewables acquisition in the US so far.
The San Francisco-headquartered developer controls and owns 42% of its listed subsidiary, Clearway Energy (CWEN), into which projects are dropped when they reach commercial operation.
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