Clearway Energy, Inc.

Listed Company

CWENCIK 0001567683NYSELarge AcceleratedElectric ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.43B

Net Income

$169.00M

Total Assets

$16.66B

Equity

$5.81B

Shares Out

203.77M

Op. Cash Flow

$688.00M

Business

Clearway Energy, Inc. is an energy infrastructure investor that owns and operates modern, sustainable power generation assets focused on clean energy and dispatchable generation. It offers wind, solar, battery energy storage systems (BESS), and combustion-based flexible generation, and sells electricity and environmental attributes such as RECs. The company reports and manages its business through its Renewables and Flexible Generation segments (with supporting corporate functions) and operates as the managing member of its consolidated holding structure. It markets and delivers power across North America, selling primarily under long-term contracts to utilities, commercial and industrial customers and distributed solar consumers in multiple U.S. states.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total operating revenues	1,429	1,371	1,314	1,190	1,286
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below	530	501	473	435	451
Depreciation, amortization and accretion	682	627	526	512	509
Impairment losses	0	0	12	16	6
General and administrative	41	39	36	40	40
Transaction and integration costs	16	8	4	7	7
Total operating costs and expenses	1,269	1,175	1,051	1,012	1,019
Operating Income	160	196	263	1,470	267
Equity in earnings of unconsolidated affiliates	31	35	12	29	32
Other income, net	29	48	52	17	3
Loss on debt extinguishment	−8	−5	−6	−2	−53
Interest expense	−387	−307	−337	−232	—
Total other expense, net	−335	−229	−279	−188	−330
Loss Before Income Taxes	−175	−33	−16	1,282	−63
Income tax expense (benefit)	56	30	−2	222	12
Net Loss	−231	−63	−14	1,060	−75
Less: Net loss attributable to noncontrolling interests and redeemable noncontrolling interests	−400	−151	−93	478	−126
Net income attributable to Clearway Energy, Inc.	169	88	79	582	51
Weighted average number of common shares outstanding - diluted (in shares)	35	35	35	35	35

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-09-30	FY 2025 2025-06-30	FY 2025 2025-03-31	FY 2024 2024-12-31
Cash and cash equivalents	231	—	—	—	332
Restricted cash	587	—	—	—	401
Inventory	75	—	—	—	64
Derivative instruments	29	—	—	—	39
Prepayments and other current assets	67	—	—	—	67
Total current assets	1,152	—	—	—	1,067
Property, plant and equipment	11,596	—	—	—	9,944
Equity investments in affiliates	291	—	—	—	309
Intangible assets for power purchase agreements, net	2,294	—	—	—	2,125
Other intangible assets, net	66	—	—	—	68
Deferred income taxes	172	—	—	—	0
Derivative instruments	127	—	—	—	136
Right-of-use assets, net	714	—	—	—	547
Other non-current assets	243	—	—	—	133
Total other assets	3,907	—	—	—	3,318
Total Assets	16,655	—	—	—	14,329
Current portion of long-term debt	708	—	—	—	430
Derivative instruments	52	—	—	—	56
Accrued interest expense	52	—	—	—	53
Accrued expenses and other current liabilities	79	—	—	—	66
Total current liabilities	1,018	—	—	—	718
Long-term debt	7,898	—	—	—	6,750
Deferred income taxes	45	—	—	—	89
Derivative instruments	308	—	—	—	315
Long-term lease liabilities	796	—	—	—	569
Other non-current liabilities	676	—	—	—	324
Total other liabilities	9,723	—	—	—	8,047
Total Liabilities	10,741	—	—	—	8,765
Redeemable noncontrolling interest in subsidiaries	103	104	45	—	0
Commitments and Contingencies	—	—	—	—	—
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued	0	—	—	—	0
Class A, Class B, Class C and Class D common stock, $0.01 par value; 3,000,000,000 shares authorized (Class A 500,000,000, Class B 500,000,000, Class C 1,000,000,000, Class D 1,000,000,000); 203,773,674 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 84,844,929, Class D 41,576,142) at December 31, 2025 and 202,147,579 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 82,833,226, Class D 41,961,750) at December 31, 2024	1	—	—	—	1
Additional paid-in capital	1,715	—	—	—	1,805
Retained earnings	213	358	178	200	254
Accumulated other comprehensive (loss) income	−5	—	—	—	3
Noncontrolling interest	3,887	3,650	3,696	3,484	3,501
Total Stockholders Equity	5,811	5,685	5,535	5,420	5,564
Total Liabilities and Stockholders Equity	16,655	—	—	—	14,329

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Distributions from unconsolidated affiliates	32	34	30	37	38
Depreciation, amortization and accretion	682	627	526	512	509
Amortization of financing costs and debt discounts	15	14	13	14	14
Amortization of intangibles	187	182	185	172	146
Reduction in carrying amount of right-of-use assets	16	15	15	14	11
Impairment losses	0	0	12	16	6
Changes in deferred income taxes	53	25	13	194	12
Changes in derivative instruments and amortization of accumulated OCI	−13	13	−2	69	28
Changes in other working capital	−30	−47	−70	18	−14
Net Cash Provided by Operating Activities	688	770	702	787	701
Acquisitions, net of cash acquired	−324	0	0	0	−533
Acquisition of Drop Down Assets, net of cash acquired	−318	−678	−45	−71	−229
Proceeds from transfer of assets	152	0	0	0	0
Capital expenditures	−319	−287	−212	−112	−151
Payment for equipment deposit	0	0	−27	0	0
Payment for equipment deposit and asset purchase from affiliate	−27	0	−55	0	−21
Return of investments from unconsolidated affiliates	15	41	14	13	47
Decrease (increase) in note receivable affiliate	0	184	−174	0	—
Investments in unconsolidated affiliates	0	0	−28	0	0
Other	18	15	4	1	22
Net Cash Used in Investing Activities	−803	−725	−523	1,065	−865
Contributions from noncontrolling interests, net of distributions	1,124	1,493	1,028	—	—
Proceeds from the issuance of Class C common stock	48	0	0	0	0
Payments of dividends and distributions	−358	−334	−311	−289	−268
Pro-rata distributions to CEG	−19	0	0	—	—
Tax-related distributions	0	−1	−21	−8	0
Buyouts of noncontrolling interest and redeemable noncontrolling interest	−3	−7	−13	0	0
Proceeds from the revolving credit facility	701	0	0	80	622
Payments for the revolving credit facility	−340	0	0	−325	−377
Proceeds from issuance of long-term debt	518	466	563	244	1,728
Payments for long-term debt	−1,461	−1,966	−1,349	−1,198	−2,292
Payments of debt issuance costs	−8	−13	−18	−4	−20
Other	−2	−1	−3	−6	7
Net Cash Provided by (Used in) Financing Activities	200	−363	−124	−1,510	367
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	85	−318	55	342	189
Interest paid, net of amount capitalized	−348	−324	−304	−317	−337
Income taxes paid, net of refunds received	−1	−1	−31	−9	—
Non-cash adjustments for change in tax basis	40	61	4	−1	−7

Filings

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