Deriva Energy, along with its joint venture partner Manulife Investment Management, has announced an agreement to sell an operational solar portfolio of 833 MWdc to Clearway Energy, Inc. Reportedly, the terms of the agreement have not been disclosed. TD Securities served as the exclusive financial advisor to Deriva Energy and Manulife Investment Management for this deal. The transaction is expected to conclude by the second quarter of 2026.
In September 2025, Deriva Energy completed a $141 million debt financing from MUFG to support three solar projects. The projects include 100 MW Franklin solar project in Idaho, the 100 MW Wildflower solar project in Mississippi, and the 140 MW Spanish Peaks solar project in Colorado, all of which began commercial operations in 2024 under long-term power purchase agreements.
In the same month, Clearway Energy acquired the 109 MW Catalina solar project in Kern County, California, from EDF Invest and Nuveen. The project generates sufficient electricity to power approximately 37,000 homes annually. Also, through the Catalina solar project, Clearway will contribute about $11 million in tax revenue to Kern County, helping fund local schools, emergency services, and public infrastructure.
Deriva Energy, headquartered in Charlotte, North Carolina, is a portfolio company of Brookfield. The company has a renewable portfolio of more than 6.2 GW of operating assets, along with a project pipeline of over 10.5 GW across the US.
