TotalEnergies agrees to buy 50% of U.S. renewables company Clearway By Reuters

PARIS (Reuters) – French company TotalEnergies said it had agreed to buy 50% of Clearway Energy (NYSE: ) Group, the fifth-largest renewables company in the United States, which TotalEnergies said marked its largest U.S renewables energy acquisition.

TotalEnergies added the acquisition would see it team up with Global Infrastructure Partners (GIP). As part of the deal, GIP will receive $1.6 billion in cash and an interest of 50% minus one share in the TotalEnergies subsidiary that holds its 50.6% ownership in SunPower (NASDAQ: ) Corporation.