Clearway Energy, Inc., through indirect subsidiaries of the company, has entered into binding agreements related to the previously announced drop-down offer from Clearway Group (CEG) to acquire and invest in a portfolio of renewable energy projects. These agreements commit the company, at closing, to invest an estimated US$241 million in corporate capital, subject to closing adjustments.
The following projects are included in the drop-down:
Clearway currently intends to fund the transactions with existing corporate liquidity. This funding will occur upon each project achieving its requisite closing conditions including commercial operations, of which the company currently expects all projects to reach by the end of 2020.
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