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Clearway Energy Acquires Carlsbad Energy Center for USD 184m
Tuesday 10 December 2019

10 December 2019 - New Jersey, US-based investor Clearway Energy, Inc. (NYSE: CWEN) has completed the acquisition of the California, US-based 527mw facility Carlsbad Energy Center from Global Infrastructure Partners III for USD 184m, the company said.

Clearway said the closing of the Carlsbad transaction is a milestone for Clearway as it provides both diversification and significant accretive growth.

With Carlsbad in the portfolio, the company is able to advance its business plan and remains well positioned to deliver upon its long-term growth objectives.

Carlsbad is a 527mw natural gas fired facility located in Carlsbad, CA.

The project has a 20-year power purchase and tolling agreement with San Diego Gas and Electric company, with approximately 19 years remaining under the agreement.

Clearway Energy, Inc. is an energy infrastructure investor focussed on modern, sustainable and long-term contracted assets across North America.

Clearway Energy's environmentally-sound asset portfolio includes over 7,000mw of wind, solar and natural gas-fired power generation facilities, as well as district energy systems.
Date Published: 10/12/2019
Target: Carlsbad Energy Center
Country: USA
Deal Size: 184m (USD)
Sector: Alternative Energy
Type: LBO
Financing: Cash
Status: Closed
Vendor: Global Infrastructure Partners III
Buyer: Clearway Energy, Inc