TotalEnergies Buys 50% Stake in U.S. Renewables Company Clearway Energy Group TotalEnergies said it has agreed to buy 50% of Clearway Energy Group, the fifth-largest renewables company in the United States, marking the French group’s largest U.S renewables energy acquisition. The French multinational has been branching out into the fast-growing renewables energy sector and diversifying away from hydrocarbon-centred activities in recent years. The company said the acquisition would see it team up with Global Infrastructure Partners (GIP). GIP will receive $1.6 billion in cash and an interest of 50% minus one share in the TotalEnergies subsidiary that holds its 50.6% ownership in SunPower Corporation as part of the deal. The transaction takes into account valuations of $35.1 per share for ClearWay Energy and $18 per share for SunPower, TotalEnergies added. “It allows TotalEnergies to scale up in the U.S. market, one of the most dynamic in the world, benefiting from operating assets and a 25 GW high quality pipeline, in wind, solar and storage, with a wide geographic coverage with a presence in 34 states,” TotalEnergies Chairman and Chief Executive Officer Patrick Pouyanne as quoted by Reuters.