Perkins Coie Represents Clearway Energy, Inc. in 1.6 GW Renewable Energy Deal

NEW YORK (January 4, 2021)—Perkins Coie represented Clearway Energy, Inc. (CWEN), a leading publicly traded renewable energy infrastructure investor, in a multipart transaction in which it acquired from its parent company and renewable development partner, Clearway Energy Group LLC, equity interests in a geographically diverse 1.6 GW portfolio of wind, solar, and energy storage projects. CWEN will co-invest in the portfolio with Hannon Armstrong Sustainable Infrastructure Capital, Inc. (Hannon), a leading climate-solutions investor, and Perkins Coie also represented CWEN in the formation of its cash-equity joint venture with Hannon, in which CWEN will serve as the managing member.

The Perkins Coie team was led by Mergers & Acquisitions partner Eric Dodson Greenberg and included Mergers & Acquisitions partners Timothy Fete and Justin Gonzales, and associates Alexandra Hellman and Anna Joy, and Tax partner Carl Crow. The deal team also included Environment & Natural Resources partners Andrew Hanson, Jane Rueger, and Laura Zagar, counsel Scott Siekawitch, and associates Chris Termyn, John Morris, Kaela Shiigi, and Jane Carmody, as well as Real Estate & Land Use partner Camarin Madigan, and paralegal Doug Larson.

Subject to closing adjustments and the portfolio projects achieving certain milestones, CWEN expects to invest approximately $214 million in corporate capital by the end of 2022, and CWEN projects that the portfolio will generate thousands of new jobs and access to affordable renewable power across the United States.