Clearway Energy buys 527 MW Carlsbad Energy Center from GIP

Clearway Energy, Inc. has completed the acquisition of the 527 MW Carlsbad Energy Center from Global Infrastructure Partners III (GIP) for a purchase price of US$184 million. The transaction closed on December 6, 2019.

Carlsbad is a 527 MW natural gas-fired facility located in Carlsbad, California. The project has a 20-year power purchase and tolling agreement with San Diego Gas and Electric Company, with approximately 19 years remaining under the agreement. The project is expected to have a five-year average annual asset CAFD of approximately US$27 million beginning in 2020.