Clearway Energy Operating LLC, a subsidiary of Princeton-based Clearway Energy Inc., has priced its offering of $600 million in aggregate principal amount of 5.750% senior notes due 2034 at a purchase price of 100% of their face value.
Clearway Operating increased the size of the offering to $600 million from the previously announced $500 million. The new notes will be senior unsecured obligations of Clearway Operating and will be guaranteed by Clearway Energy LLC, Clearway Operating’s parent company, and by each of Clearway Operating’s wholly owned current and future subsidiaries that guarantees indebtedness under its credit agreement.
The new notes will mature on Jan. 15, 2034. The offering is expected to close on Jan. 13, 2026, subject to customary conditions.
Clearway Operating intends to allocate an amount equal to the net proceeds from the offering of the new notes to finance or refinance certain indebtedness, in part or in full, and acquire assets meeting certain renewable energy generation and storage eligibility criteria. Specifically, Clearway Operating intends to use the net proceeds from the offering to repay borrowings outstanding under its revolving credit facility and for general corporate purposes.
Clearway Energy Inc. is one of the largest owners of clean energy generation assets in the United States. Its portfolio comprises approximately 12.7 gigawatts of gross capacity in 27 states, including 9.9 gigawatts of wind, solar, and energy storage and over 2.8 gigawatts of dispatchable power generation providing critical grid reliability services.
Publicly traded Clearway Energy Inc. rose 82 cents, or 2.54%, to $32.85, on the New York Stock Exchange. The energy company’s market cap is $6.72 billion.
