833 MWdc (613 MWac) operating solar portfolio across 8 states — concentrated in CAISO and PJM
Clearway acquires 613 MWac operating solar portfolio from Deriva Energy. 227 MWac Western assets via 50/50 JV with Fengate. 10-year weighted avg contract life with hybridization/extension upside. ~$27M annual CAFD. Closing expected Q2 2026.
$210
Deal Value
613MW
Capacity
Solar
Technology
Multi-state (8 states)
Location
Deal Details
- Deal Type
- Project M&A
- Seller / Sponsor
- Deriva Energy / Manulife Investment Management
- Buyer / Financier
- Clearway Energy (+ Fengate for Western assets)
- Deal Value
- $210-230M (Clearway investment); 12%+ 5-yr CAFD yield
- Stage
- Operating
- ISO/RTO
- CAISO, PJM
- Source
- GlobeNewswire
Service Providers
Advisory & Legal
- Buyer Counsel
- Wilson Sonsini
- Seller Financial Advisor
- TD Securities
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