TotalEnergies' Deal to Buy 50% of Clearway Energy Approved by EU
12 August 2022 - 6:37PM
Dow Jones News
By Pierre Bertrand
TotalEnergies SE's deal to buy 50% of U.S. renewable energy
company Clearway Energy Group was given the green light by the
European Union on Friday.
The European Commission, the executive arm of the EU, concluded
that the deal wouldn't pose competition issues, it said.
The French energy giant in May agreed to acquire a 50% stake in
Clearway Energy from infrastructure fund manager Global
Infrastructure Partners LLC for $1.6 billion in cash plus an
interest of 50% minus one share in a TotalEnergies subsidiary that
owns 50.6% of U.S. residential solar power company SunPower
Corp.
TotalEnergies said at the time that the deal would increase its
U.S. renewable energy portfolio to more than 25 gigawatts.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
August 12, 2022 12:22 ET (16:22 GMT)
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