Clearway Energy, Inc.: agrees to acquire battery projects for $119,000,000

What happened The filing reports that on Oct 1, 2026 Honeycomb 2 Purchaser LLC, a subsidiary of Clearway Energy, Inc., entered into a Membership Interest Purchase Agreement with Honeycomb 2 CE Seller LLC to acquire certain limited liability company membership interests in Honeycomb 2 TargetCo LLC for a base purchase price of approximately $119,000,000 in cash, subject to adjustments. Subject to the conditions in the Purchase Agreement, the closing is expected to occur during the fourth quarter of 2027.

Key details

• The Target Company, subject to certain terms and conditions, will become the indirect owner of all of the limited liability company interests in Escalante BESS II LLC, Escalante BESS III LLC and Granite Mountain BESS West LLC.
• The Project Companies own and are developing three battery energy storage facilities and associated infrastructure with an aggregate capacity of approximately 210 megawatts in Beaver County and Iron County, Utah.
• At closing, Purchaser will own 100% of the class A units of the Target Company and Clearway Renew LLC will own 100% of the class C units.
• The Purchase Agreement includes customary representations, warranties and covenants and mutual indemnification obligations; closing is subject to customary conditions and certain third-party actions.

Why it may matter This report was filed as Item 1.01 (entry into a material definitive agreement), describing the Purchase Agreement under which Clearway Energy’s subsidiary will acquire membership interests that will own the Project Companies. The filing does not show why the insider traded or why the company acted.