PARIS (Agefi-Dow Jones)–The European Commission on Friday approved the acquisition of US renewable energy producer Clearway Energy Group and US residential solar power specialist SunPower Corporation by French energy company TotalEnergies and the investment company Global Infrastructure Management (GIP).
“The Commission has concluded that the proposed concentration would not raise competition concerns, given its very limited impact on the structure of the relevant market,” Brussels said in a statement.
TotalEnergies announced at the end of May the signing of an agreement to acquire 50% of the capital of Clearway Energy Group from GIP. In exchange, GIP will receive 1.6 billion dollars (1.5 billion euros) in cash and a 50% stake minus one share in the subsidiary of TotalEnergies which holds 50.6% of the capital of SunPower.
-Vincent Alsuar, Agefi-Dow Jones; 01 41 27 47 39; [email protected] ed: FXS
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August 12, 2022 08:56 ET (12:56 GMT)