TotalEnergies To Acquire 50% Of Clearway Energy Group; GIP Becomes Equity Partner In SunPower

(RTTNews) - TotalEnergies (TTA.L, TTFNF.PK - DELETED, TTE) announced agreements with Global Infrastructure Partners to acquire 50% of Clearway Energy Group. CEG is a developer of renewables projects and controls and owns 42% of economic interest of its listed subsidiary, Clearway Energy Inc.

Global Infrastructure Partners will receive $1.6 billion in cash and an interest of 50% minus one share in the TotalEnergies subsidiary that holds its 50.6% ownership in SunPower Corp. (SPWR). The deal takes into account valuations of $35.1 per share for Clearway Energy Inc. and $18 per share for SunPower.