Clearway energy, inc. signs binding agreement to acquire an additional 35% interest in the 290 mw agua caliente solar project

Princeton, n.j., nov. 20, 2020 (globe newswire) -- clearway energy, inc. (nyse: cwen, cwen.a) (“company”) today announced that it has entered into an agreement to acquire a 35% interest in the agua caliente solar project. agua caliente is a 290 mw utility-scale solar project located in dateland, arizona in which clearway currently owns a 16% equity interest. the project has a 25-year ppa with pg&e, with approximately 19 years remaining under the agreement. the company will acquire the additional 35% interest in agua caliente for $202 million, and this acquisition is expected to provide incremental annual asset cafd on a five-year average basis of $20 million prior to corporate financing.
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