Clearway Energy LLC: agrees to buy Utah battery projects for $119,000,000

What happened The filing says that on Oct 1, 2026 Honeycomb 2 Purchaser LLC, a subsidiary of Clearway Energy LLC, entered into a Membership Interest Purchase Agreement with Honeycomb 2 CE Seller LLC, an affiliate of Clearway Energy Group LLC. Pursuant to the Purchase Agreement, Purchaser will 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 based on a financial model.

The filing says the Target Company, subject to certain terms and conditions, will become the indirect owner of all limited liability company interests in Escalante BESS II LLC, Escalante BESS III LLC and Granite Mountain BESS West LLC, which together represent an aggregate capacity of approximately 210 megawatts in Beaver County and Iron County, Utah. The filing says the Closing is expected to occur during the fourth quarter of 2027, subject to customary closing conditions and certain third-party actions.

Key details

• Base purchase price: approximately $119,000,000 in cash, subject to adjustments under a financial model.
• Projects: three battery energy storage facilities totaling approximately 210 megawatts in Beaver County and Iron County, Utah.
• Ownership post-closing: Purchaser will own 100% of the class A units of the Target Company; Clearway Renew LLC will own 100% of the class C units.
• Agreement features: customary representations, warranties and covenants and mutual indemnity obligations; closing subject to satisfaction or waiver of customary conditions.

Why it may matter This item is reported under Item 1.01: entry into a material definitive agreement, which covers the Purchase Agreement described above to acquire membership interests in Honeycomb 2 TargetCo LLC and, indirectly, the three Project Companies. This filing does not show why the insider traded or why the company acted.