Clearway enterprise's sponsor, global infrastructure partners, announces strategic partnership with totalenergies

Princeton, nj and san francisco, may 25, 2022 (globe newswire) -- clearway energy, inc. (nyse: cwen, cwen.a) (the “company”) and its renewable development partner and parent company, clearway energy group llc (“clearway group”), today announced that global infrastructure partners (gip) has formed a strategic partnership with totalenergies se (“totalenergies”) in the u.s. renewable energy sector. through this partnership, totalenergies will acquire half of gip's interest in clearway group, a privately held renewable development company that serves as the company's sponsor with its 42% economic interest in the company. in consideration, gip will receive $1.6 billion cash consideration (subject to purchase price adjustments) and an approximately 50% interest in the totalenergies subsidiary that holds its 51% ownership in sunpower corporation (nasdaq: spwr).
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