Clearway Energy unit kicks off USD-350m green bond sale

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September 27 (Renewables Now) - Clearway Energy Operating LLC, a unit of Clearway Energy Inc (NYSE:CWEN) has launched an offering of USD 350 million (EUR 298.5m) worth of green bonds, seeking to raise funds for renewable energy projects.

The parent company currently has over 4.7 GW net of installed wind and solar generation capacity in the US, as well as 2,500 MW of natural gas plants and a portfolio of district energy systems. In a press release on Friday, it said that the net proceeds will be allocated to finance or refinance new and existing projects, as well as assets meeting certain renewable energy generation eligibility criteria.

Together with cash on hand, Clearway Energy Opearating intends to repurchase any and all of its USD 350 million outstanding principal amount of its 5% senior notes due 2026 and pay fees and expenses related to this transaction.

The unsecured notes mature on January 15, 2032, and bear an annual coupon of 3.750%. They will be guaranteed by Clearway Energy LLC, Clearway Operating’s direct parent, and by each of Clearway Operating’s wholly-owned current and future subsidiaries.

The offering is expected to be completed on October 1.

(USD 1.0 = EUR 0.853)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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