M&A Deal Summary

Spruce Power Acquires Clearway Energy - Portfolio of Residential Solar Assets

On May 14, 2020, Spruce Power acquired renewable energy company Clearway Energy - Portfolio of Residential Solar Assets from Clearway Energy

Acquisition Highlights
  • This is Spruce Power’s 2nd transaction in the Renewable Energy sector.
  • This is Spruce Power’s 2nd transaction in the United States.
  • This is Spruce Power’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2020-05-14
Target Clearway Energy - Portfolio of Residential Solar Assets
Sector Renewable Energy
Buyer(s) Spruce Power
Sellers(s) Clearway Energy
Deal Type Divestiture

Target

Clearway Energy - Portfolio of Residential Solar Assets

Princeton, New Jersey, United States
Clearway Energy's Portfolio of Residential Solar Assets provides 53 megawatts (MW) of rooftop solar.

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Buyer(S) 1

Buyer

Spruce Power

Houston, Texas, United States
Category Company
Sector Renewable Energy
DESCRIPTION

Spruce Power owns and operates more than 52,000 residential rooftop solar systems. The company sells the power generated by its systems to homeowners pursuant to long-term agreements that obligate the company’s subscribers to make recurring monthly payments. Spruce Power is headquartered in Houston, Texas.

DEAL STATS #
Overall 2 of 2
Sector (Renewable Energy) 2 of 2
Type (Divestiture) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 2 of 2
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-05 Greenbacker Renewable Energy - 27.6 MW Residential Solar Assets

New York, New York, United States

Greenbacker Renewable Energy Co. LLC - Residential Solar Assets comprises 3,668 rooftop solar assets totaling 27.6 megawatts (MW).

Buy -

Seller(S) 1

SELLER

Clearway Energy

Princeton, New Jersey, United States
Category Company
Founded 2012
Sector Utilities
Employees61
Revenue 1.3B USD (2023)
DESCRIPTION

Clearway Energy is an owns and operator of 1,919 MW of generating capacity across 31 renewable power facilities, and has over 1,000 MW in development. Clearway Energy was founded in 2012 and is headquartered in Princeton, New Jersey.

DEAL STATS #
Overall 1 of 2
Sector (Renewable Energy) 1 of 2
Type (Divestiture) 1 of 2
State (New Jersey) 1 of 1
Country (United States) 1 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-04 Terra-Gen Power - Alta Wind

California, United States

Terra-Gen Power LLC - Alta Wind is a provider of renewable energy services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-02 Cordia Energy

Phoenix, Arizona, United States

Cordia Energy consists of thermal infrastructure assets that provide steam, hot water, and/or chilled water, and in some instances electricity, to commercial businesses, universities, hospitals, and governmental customers across the United States. Cordia Energy is based in Phoenix, Arizona.

Sell $1.9B
Mergr

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