TotalEnergies (TTEF.PA) said on Wednesday 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. TotalEnergies has been branching out into the fast-growing renewable energy sector and diversifying away from hydrocarbon-centered activities in recent years. The company said the acquisition would see it team up with Global Infrastructure Partners (GIP). As part of the deal, 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 (SPWR.O) . The transaction takes into account valuations of $35.1 per share for ClearWay Energy and $18 per share for SunPower, TotalEnergies added. “It […]