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Stock impact report

Clearway Energy, Inc. Signs Binding Agreement to Acquire 137 MW Wind Project [Yahoo! Finance]

Clearway Energy, Inc. Class C (CWEN) 
Last clearway energy, inc. class c earnings: 11/6 06:32 am Check Earnings Report
Company Research Source: Yahoo! Finance
a binding agreement to acquire the operational Tuolumne Wind Project from Turlock Irrigation District. Tuolumne Wind Project is a 137 MW wind project located in Klickitat County, WA that achieved commercial operations in 2009. The project will sell power under a new PPA with Turlock Irrigation District, an investment-grade regulated entity, with an initial contract term of 15 years to 2040. In conjunction with the acquisition, the Company also has received from Turlock Irrigation District a contractual extension option to enable a potential future repowering of the project. After factoring in estimated closing adjustments and new non-recourse project-level debt, the Company expects its total long-term corporate capital commitment to acquire the project to be approximately $70-75 million, which the Company expects to fund with existing sources of liquidity. Based on current expected terms and conditions of the new non-recourse financing, the acquisition is expected to provide incre Show less Read more
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