PG&E bankruptcy creates uncertainty for 1,200 MW of Clearway Energy projects

摘要

Clearway Energy said Thursday it will forego the acquisition of a 290-MW solar power project, cut its dividend and take other measures todeal with uncertainty associated with Pacific Gas & Electric’sbankruptcy proceeding, as PG&E has agreed to purchase 1,200 MW ofpower from Clearway.“The PG&E bankruptcy has heightened the risk that project levelcash distributions could be restricted for an undetermined amount oftime, thereby impacting the company’s corporate liquidity andcorporate leverage,” Christopher Sotos, Clearway Energy’s presidentand CEO, said in a statement.