KKR to acquire the thermal business of Clearway Energy for $1.9bn.

KKR & Co agreed to acquire the thermal business of Clearway Energy, one of the largest renewable energy owners in the US, for $1.9bn. "First, I want to thank my colleagues at Clearway Community Energy for their steadfast commitment to safely providing sustainable energy across their customer base while contributing to the success of the Company since our IPO in 2013. This divestiture will provide Clearway with an unprecedented degree of financial flexibility and will eliminate any need to issue new equity to fund our committed investments, while also providing capital to fund future growth objectives and further enhance shareholder value. Considering our sponsor’s robust development pipeline, the Company is now in one of the best positions in its history to deliver long term CAFD per share growth and economic value," Christopher Sotos, Clearway Energy President and CEO.