Core Insights - Clearway Energy (CWEN) has entered into a binding agreement to acquire a 613 MWac operational solar portfolio from Deriva Energy, enhancing its presence in the CAISO and PJM markets [1] - The acquisition includes a 50/50 joint venture with Fengate Asset Management for 12 assets in the Western US, totaling 227 MWac [1] - The portfolio has a weighted average contract life of 10 years, aligning with Clearway's existing fleet and offering potential for value enhancement through contract extensions and battery hybridization [1] Financial Overview - The total long-term corporate capital investment in the portfolio is expected to be approximately $210M-230M, factoring in estimated closing adjustments and asset-level financings [1] - The investment is projected to be immediately accretive, with a 5-year annual CAFD yield over 12%, resulting in an incremental five-year average annual asset CAFD of approximately $27M starting January 1, 2027 [1] - The transaction is anticipated to close by the second quarter of 2026, with funding expected to be within the previously disclosed capital allocation framework [1]

Core Viewpoint - Clearway Energy, Inc. has entered into a binding agreement to acquire a 613 MWac operational solar portfolio from Deriva Energy, LLC, which is expected to enhance its growth in cash available for distribution (CAFD) per share and leverage its strengths in solar operations [1][5]. Acquisition Details - The solar portfolio spans eight states, with significant capacity in the CAISO and PJM markets, allowing Clearway to utilize its operational strengths in these regions [2]. - Clearway will co-invest in a 50/50 joint venture with Fengate Asset Management for 12 assets in the Western US, totaling 227 MWac [2]. - The overall portfolio has a weighted average contract life of 10 years, aligning with Clearway's existing fleet and providing opportunities for contract extensions and battery hybridization [2]. Financial Implications - The total long-term corporate capital investment in the portfolio is estimated to be approximately $210-230 million, with an expected 5-year annual CAFD yield over 12% [3]. - The acquisition is projected to generate an incremental average annual asset CAFD of approximately $27 million starting January 1, 2027 [3]. Transaction Timeline - The transaction is anticipated to close by the second quarter of 2026, with funding expected to be within the company's previously disclosed capital allocation framework [4]. Strategic Outlook - The acquisition is expected to deepen Clearway's presence in the CAISO and PJM markets and create additional value through proven strategies in battery hybridization and contract extensions [5]. - The company aims to achieve its 2027 CAFD per share target range of $2.50 - $2.70, supported by ongoing fleet enhancement and a robust dropdown pipeline [5]. Company Overview - Clearway Energy, Inc. is one of the largest owners of clean energy generation assets in the US, with a portfolio of approximately 12 GW of gross capacity across 27 states [6]. - The company focuses on providing stable and growing dividend income through its diversified and primarily contracted clean energy portfolio [6].

Core Insights - TotalEnergies has agreed to sell a 50% interest in a 1.4GW North American solar portfolio to KKR, with an enterprise value of $1.25 billion, resulting in TotalEnergies receiving $950 million at closing [1][2][5] Group 1: Transaction Details - The deal includes six utility-scale solar projects totaling 1.3GW and 41 distributed-generation sites amounting to 140MW, primarily located in the US [1] - TotalEnergies will retain half of the ownership stake and continue to operate the assets after the deal is completed [2] Group 2: Strategic Importance - KKR has committed over $23 billion to energy transition investments, viewing TotalEnergies' solar portfolio as high-quality renewable energy assets with long-term contracts [3] - This partnership is seen as a strategic move for TotalEnergies to expand its integrated business model in the North American deregulated electricity market [5] Group 3: Business Model and Future Plans - TotalEnergies aims for a 12% profitability for its integrated power business and plans to sell up to 50% of its renewable assets once operational risks are minimized [4] - The company is developing a portfolio that integrates renewables with assets like combined cycle gas turbines and storage solutions [3]

PARIS--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an agreement with insurance vehicles and accounts managed by KKR, a leading global investment firm, for the sale of 50% of a 1.4 GW solar portfolio in North America. This transaction – which aligns with TotalEnergies' renewables business model – values the portfolio at an enterprise value of $1.25 billion. Thanks to these transactions and the bank refinancing currently being finalized, TotalEnergies will receive a. ...

Core Viewpoint - TotalEnergies is selling 50% of its solar portfolio in North America to KKR, indicating a strategic move to partner with a financial investor in the renewable energy sector [1] Company Summary - TotalEnergies is actively engaging in the renewable energy market by divesting part of its solar assets, which reflects a trend of energy companies seeking partnerships to enhance their investment capabilities [1] Industry Summary - The transaction highlights the growing interest of financial firms like KKR in renewable energy assets, showcasing the increasing integration of private equity in the energy transition [1]