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M&AClosedAugust 31, 2018

NRG Energy renewables platform + NRG Yield Inc. (rebranded Clearway Energy Inc.) — 4.7 GW operating renewables; 45.2% economic interest in CWEN, 55% voting

GIP completes $1.348B acquisition of NRG's renewable energy business + 55% voting / 45.2% economic interest in NRG Yield (rebranded Clearway Energy Inc.) on Aug 31, 2018. Largest US renewable power transaction ever at the time. NYSE ticker change to CWEN/CWEN.A on Sept 17, 2018. TotalEnergies later acquired 50% of Clearway Energy Group from GIP in 2022.

$1.35B

Deal Value

4,700MW

Capacity

Hybrid

Technology

Multi-state

Location

MarketsHybrid

Deal Details

Deal Type
Corporate M&A
Seller / Sponsor
NRG Energy (renewables platform + NRG Yield majority)
Buyer / Financier
Global Infrastructure Partners (GIP)
Deal Value
$1.348B aggregate consideration
Stage
Operating
ISO/RTO
Multiple

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