Firm Advises Clearway on Acquisitions of Catalina Solar Facility and Deriva Energy’s Solar Portfolio

Client Highlights

October 8, 2025

On October 6, 2025, Clearway Energy, Inc., one of the largest owners of clean energy generation assets in the U.S., announced that it has entered into a binding agreement to acquire a 613MWac portfolio of operating solar assets from Deriva Energy spanning eight states. Clearway also recently announced its acquisition of the 109 MW Catalina Solar facility in Kern County, California. Wilson Sonsini Goodrich & Rosati advised Clearway on the transactions.

The Catalina Solar facility, which Clearway acquired from EDF Invest and Nuveen, generates enough electricity to power 37,000 homes every year. Clearway plans to contribute approximately $11 million in taxes to Kern County through Catalina Solar, supporting local schools, emergency response services, and other public infrastructure.

The portfolio Clearway is acquiring from Deriva Energy also includes 12 assets located in the Western U.S., comprising of 227 MWac that Clearway will co-invest cash equity interests in a 50/50 joint venture with Fengate Asset Management. Clearway expects its total long-term corporate capital investment in the portfolio to be approximately $210-230 million.

These acquisitions provide opportunities for Clearway to expand its footprint and enhance value through contract extensions and battery hybridization in markets where it has a demonstrated track record of success in asset value enhancement.

The Wilson Sonsini team that advised Clearway on the transactions includes:

Catalina Solar Facility Transaction:

Energy and Climate Solutions
Peter Mostow
Jason Slagle
Karli Upfill-Brown
Max Learner

M&A
Rich Mullen
Andrew Lombardo

Energy Regulatory
Nic Gladd
Steve Boughton

Tax
Nicole Gambino
Andrew Bryant

Antitrust
Taylor Owings
Kim Biagioli

National Security and Trade
Josh Gruenspecht

Deriva Energy Portfolio Transaction:

Energy and Climate Solutions
Peter Mostow
Jason Slagle
Stephanie McFall
Kate Ashbolt
Claire Yerman
James Newhouse
Max Learner

M&A
Rich Mullen
Andrew Lombardo

Energy Regulatory
Nic Gladd
Steve Boughton

Tax
Nicole Gambino
Andrew Bryant
Greg Broome