Energy & Science
TotalEnergies to Buy Stake in US Renewables Firm Clearway Energy
- Firm to acquire 50% stake from Global Infrastructure Partners
- The European energy giant aims to expand its presence in US
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TotalEnergies SE said it will acquire a stake in a large US renewables developer, another move by the European energy giant to expand its footprint in the American power sector.
The French firm agreed to buy a 50% stake in Clearway Energy Group from Global Infrastructure Partners for $1.6 billion in cash, it said in a statement on Wednesday. GIP will also receive a stake in a TotalEnergies unit that has ownership in SunPower Corp., a US residential solar company, the statement said.