Mergers & Acquisitions ·
Clearway Energy acquires three Utah battery storage projects for $119M
CWENClearway Energy, Inc.
Honeycomb 2 Purchaser LLC, a subsidiary of Clearway Energy, Inc., entered into a Membership Interest Purchase Agreement to acquire membership interests in Honeycomb 2 TargetCo LLC from an affiliate of Clearway Energy Group LLC. The transaction involves the acquisition of three battery energy storage facilities and associated infrastructure located in Beaver County and Iron County, Utah, with an aggregate capacity of approximately 210 megawatts. The base purchase price is approximately $119 million in cash, subject to adjustments based on a financial model designed to achieve certain minimum economic thresholds. Closing is expected during the fourth quarter of 2027, subject to customary closing conditions. Clearway Energy operates in the renewable energy sector, developing and owning solar and battery storage assets.