Acquisitions are a key focus of Clearway Energy’s business strategy
The organization’s main business strategy is to grow through acquiring new generation assets. Clearway Energy Inc. (Clearway Energy) spent over $700.0 million in 2021 alone to acquire several renewable energy projects, largely surrounding wind and solar power. Most significant of all for the year was the company’s $335.0 million acquisition of the remaining 50.0% equity interest of a solar energy project in Utah. This acquisition includes the purchase of seven utility-scale solar farms representing 530 megawatts (MW) of capacity. Clearway Energy also paid $202.0 million to acquire a 35.0% equity interest in a 290 MW solar project based in Dateland, AZ that year.
ESG|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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