Clearway Energy, one of the largest renewable energy owners in the U.S., announced this Tuesday it completed the acquisition of Mt. Storm; a 264-megawatt wind energy asset, located in Grant County, West Virginia.
Firstly, the acquisition was made from Castleton Commodities International; no figure of investment or amount of the acquisition was disclosed.
Secondly, the transaction further expands Clearway Energy’s portfolio. Christopher Sotos, Clearway Energy, Inc.’s President and CEO, said about the matter. “The closing of the Mt. Storm transaction provides the Company geographic diversification; and accretive growth.
He also remarked. “It also leverages Clearway’s existing platform of wind investments in West Virginia to provide for operational efficiencies. In addition, our partnership with our sponsor, Clearway Group, deepened our commitment to support investments in local businesses; and the community through Mt. Storm and our other renewable energy projects in West Virginia.”
Moreover, as said above, Clearway Energy, Inc. is one of the largest renewable energy owners in the US. It has more than 4,200 net MW of installed wind and solar generation projects.
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Clearway Energy expanding its clean energy portfolio across the U.S.
In addition, it owns over 8000 MW of assets, out of which 2,500 MW are environmentally-sound, highly efficient natural gas generation facilities; as well as a portfolio of district energy systems.
Furthermore, through this environmentally-sound diversified and primarily contracted portfolio, the company intends to provide its investors with stable and growing dividend income.
In fact, Clearway Energy’s Class C and Class A common stock are traded on the New York Stock Exchange under the symbols CWEN and CWEN.A, respectively.
On the other hand, the company is backed by its controlling investor Global Infrastructure Partners III; which pushes the company to invest in both OECD and select emerging market countries, through GIP’s portfolio company, Clearway Energy Group.
Finally, back in April, the company announced the completion of its first Illinois community solar farm. Which is the 3 MWdc Southland Solar Farm, just outside of Kankakee, and will activate eight more community solar farms in the coming months.