Latham & Watkins Advises on Letter of Credit Facility for Clearway Energy Subsidiaries

Clearway Energy, Inc. has announced that its indirect subsidiary, Natural Gas CA Holdco LLC, entered into a financing agreement that provides for a US$200 million letter of credit facility. The letter of credit facility will be utilized to support the collateral needs of Natural Gas CA HoldCo LLC and its subsidiaries, which own gas-fired power facilities in El Segundo, Antioch, and City of Industry, California. The total nameplate capacity of all three power plants is approximately 1835 MW.

Latham & Watkins LLP advised the lenders and letter of credit issuers in the transaction with a deal team led by New York partner Hamad Al-Hoshan, New York associate Josh Ryu, and Los Angeles associate Nick Eberhart. Advice was also provided on project development and finance matters by Washington, D.C. partner Natasha Gianvecchio and counsel Anna Biegelsen, and on real estate matters by San Diego partner Robert Frances and counsel Aaron Friberg, with associate Daniel Eyal.