Clearway Energy To Buy 613 MWac Functional Solar Portfolio From Deriva Energy

(RTTNews) - Clearway Energy, Inc. (CWEN, CWEN.A) Monday said that it has signed an agreement to acquire a 613 MWac operational solar portfolio from Deriva Energy, LLC. The portfolio is spread across eight states, with the main capacity concentrated in the CAISO and PJM markets, thus strengthening Clearway's leverage in these regions.

The renewable energy generation company said that twelve Western US assets totaling 227 MWac will be managed through a 50/50 joint venture with Fengate Asset Management, which is an existing partner in a now functioning wind facility. The 613 MWac operational solar portfolio's weighted average contract life of 10 years in line with existing fleet and has potential for value enhancement through contract extensions and battery hybridization, Clearway Energy said in a statement.

After closing adjustments and asset-level financings, Clearway Energy said that its long-term corporate investment is estimated between $210 million and $230 million. The deal is expected to be immediately accretive, with a five-year annual CAFD yield above 12 percent and an incremental annual asset CAFD of about $27 million starting January 1, 2027, the company added.

Clearway Energy said that the transaction is expected to close in the second quarter of 2026 and will be funded with its existing capital allocation framework.

On the NYSE, the stock ended Saturday's trading at $30.34, up 0.97 percent.