Clearway Energy Inc., a development and operations platform with an office in Princeton, announced Monday it has acquired a 527 megawatt energy center in Carlsbad, California, from Global Infrastructure Partners III for $184 million.
The Carlsbad Energy Center is a natural gas fired facility. It has a 20-year power purchase and tolling agreement with San Diego Gas and Electric Co., with 19 years remaining on it.
“The closing of the Carlsbad transaction is an important milestone for Clearway as it provides both diversification and significant accretive growth,” Christopher Sotos, CEO and president, Clearway Energy Inc., said. “As we await the final resolution of the PG&E bankruptcy, with Carlsbad now in the portfolio, the Company is able to advance its business plan and remains well positioned to deliver upon its long-term growth objectives.”