Total Energy acquires part of Clearway

　　On May 25, Total Energy announced that it signed an agreement with Global Infrastructure Partner (GIP) to acquire a 50% stake in Clearway Energy Group (CEG), the fifth largest renewable energy company in the United States
.
This is Total Energy's largest acquisition of renewable energy assets in the United States
.
After the acquisition, Total Energy will work with GIP to further accelerate its development in the renewable energy industry
.

　　It is reported that CEG is a large-scale developer with multiple renewable energy projects in the United States, holding 7.
7GW of wind and solar assets, 25GW of renewable energy development and energy storage projects, of which 15GW has entered the late stage of development
.
With this acquisition, Total Energy has established itself as a major player in the U.
S.
renewable energy and energy storage market
.
Its goal is to achieve a global installed capacity of 100GW of renewable energy generation by 2030
.
The acquisition brings Total Energy's U.
S.
renewable energy portfolio to over 25GW, achieving its goal of 25% more installed capacity in the U.
S.
than the company's total global capacity
.

　　From the beginning of 2021, Total Energy will start investing in the United States
.
This transaction will complement the company's existing projects in the United States, including: In the field of large-scale solar power generation, Total Energy first acquired a number of projects from SunChase; later cooperated with Hanwha Energy; Acquired Core Solar shortly after; projects currently under development with an installed capacity of 8GW
.
In the field of offshore wind power, after the successful bidding, Total Energy will develop a total of 4GW of power generation projects in the waters of New York and North Carolina
.

　　Pan Yanlei, Chairman and CEO of Total Energy, said: “GIP is an important player in the renewable energy sector, especially in the U.
S.
market
.
In addition to its existing businesses, Total Energy currently has wind, solar and storage in the U.
S.
In the planning and construction of high-quality renewable energy projects including energy, with a total installed capacity of 25GW, covering 34 states in the United States
.
This transaction shows that Total Energy's priority is to accelerate the company's transformation and develop into a sustainable and profitable diversified energy company
.
”