Clearway Energy has signed a binding agreement to acquire the remaining 50% of its 530MW Utah solar portfolio for US$335m. The portfolio consists of seven utility-scale solar farms built in Utah that have been in commercial operation since 2016.
These projects include Helper’s Escalante Solar I, Milforad’s Escalante Solar II, Providence’s Enterprise Solar, Delta’s Escalante Solar III, Granite Mountain West, Granite Mountain East and Cedar City’s Iron Springs.
All assets are underpinned by 20 year power purchase agreements (PPAs) with PacifiCorp, which have almost 15 years remaining. The deal must meet customary closing conditions and is expected to be completed in the fourth quarter of this year.
Clearway Energy has more than 4.7GW net installed capacity in wind and solar generation. Earlier this year, the company purchased the 264MW Mt Storm wind project in West Virginia from Castleton Commodities International.