On October 6, 2025, Clearway Energy, Inc. announced that it had entered into a binding agreement to acquire an 833 MWdc (613 MWac) operational solar portfolio from Deriva Energy, LLC and its joint venture partner, Manulife Investment Management. The portfolio comprises eight assets spread across eight states, with the bulk of its capacity and value concentrated in the California Independent System Operator (CAISO) and PJM markets.
The acquisition expands Clearway’s renewable generation footprint by adding significant solar capacity in two of the country’s most lucrative wholesale markets. The added 613 MWac of solar generation will enhance the company’s ability to meet growing demand for clean power, particularly in the high‑value CAISO and PJM regions where Clearway already operates a substantial wind and battery portfolio.
Terms of the transaction were not disclosed, but the deal is expected to close by the second quarter of 2026. The acquisition is anticipated to generate incremental operating revenue and provide additional tax‑credit eligibility, reinforcing Clearway’s strategy of building a diversified, long‑term contract portfolio.
For investors, the transaction represents a tangible expansion of Clearway’s asset base and a strategic move to capture higher‑margin solar generation in key markets. The deal aligns with the company’s growth trajectory and could contribute to future earnings growth and cash‑flow generation, supporting its long‑term dividend and capital allocation plans.
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