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PRINCETON, N.J., March 09, 2021 (GLOBE NEWSWIRE) Clearway Energy Operating LLC (“Clearway Operating”), a subsidiary of Clearway Energy, Inc. (NYSE: CWEN, CWEN.A) (“Clearway Energy”), announced the expiration and results of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 5.750% senior notes due 2025 (the “2025 Notes”).
The Tender Offer expired at 5:00 p.m., New York City time, on March 8, 2021 (the “Expiration Time”). As of the Expiration Time, an aggregate principal amount of $411,334,000, or 68.6%, of the 2025 Notes were validly tendered and not validly withdrawn, which amount excludes $6,925,000 aggregate principal amount of the Notes that remain subject to guaranteed delivery procedures. Clearway Operating has accepted for payment all 2025 Notes validly tendered prior to the Expiration Time pursuant to the Tender Offer and expects to make payment for such 2025 Notes on
Clearway Energy Operating LLC, a Subsidiary of Clearway Energy, Inc , Announces Expiration and Results of Cash Tender Offer for Its Outstanding 5 750% Senior Notes Due 2025
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Hornsea 1 Limited, a joint venture owned by Ørsted (50 %) and Global Infrastructure Partners (GIP) (50 %), has announced that it has signed an agreement for the sale of its transmission assets to Diamond Transmission Partners Hornsea One Limited (DTP).
DTP is a partnership between Diamond Transmission Corporation Limited (a wholly-owned subsidiary of Mitsubishi Corporation) and Chubu Electric Power Co., Inc.
The transmission assets hold an asset value of £1.175 billion. The assets include the onshore substation, export cables, the offshore reactive compensation substation (RCS), and three offshore substations.
The divestment takes place in accordance with the offshore transmission owner (OFTO) regime. In February 2020, following a competitive tender, Ofgem selected DTP as preferred bidder for the offshore transmission licence for the Hornsea 1 Offshore Wind Farm.