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TotalEnergies added 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 (NASDAQ:SPWR) Corporation.
The transaction takes into account valuations of $35.1 per share for ClearWay Energy and $18 per share for SunPower, TotalEnergies added.
