Financial Performance - Total operating revenues for the three months ended March 31, 2024, were $263 million, a decrease of 8.7% compared to $288 million for the same period in 2023[56]. - Total operating costs and expenses increased to $292 million for the three months ended March 31, 2024, compared to $246 million for the same period in 2023, representing an increase of 18.7%[56]. - The net loss attributable to Clearway Energy, Inc. for the three months ended March 31, 2024, was $2 million, compared to a net loss of $0 for the same period in 2023[56]. - The company reported an operating loss of $(29) million for the three months ended March 31, 2024, compared to an operating income of $42 million for the same period in 2023[56]. - The company experienced a comprehensive loss of $(47) million for the three months ended March 31, 2024, compared to $(43) million for the same period in 2023[58]. - The company incurred a net loss of $46 million for the three months ended March 31, 2024, compared to a net loss of $40 million for the same period in 2023[61]. - The company reported a net loss of $43 million for the three months ended March 31, 2024[45]. - The company reported energy revenue of $170 million, with $1 million from conventional generation and $169 million from renewables[73]. Assets and Liabilities - Total assets increased to $14,862 million as of March 31, 2024, compared to $14,701 million at December 31, 2023, reflecting a growth of 1.1%[41]. - Total liabilities rose to $9,815 million from $9,706 million, an increase of 1.1%[41]. - Current liabilities decreased to $874 million from $906 million, a reduction of 3.5%[41]. - Long-term debt increased to $7,579 million from $7,479 million, an increase of 1.3%[41]. - The fair value of the company's long-term debt, including the current portion, was $8,204 million as of March 31, 2024, compared to $8,102 million as of December 31, 2023[106]. - Total accounts receivable, net, increased to $184 million as of March 31, 2024, up from $171 million as of December 31, 2023[94]. - Cash, cash equivalents, and restricted cash totaled $963 million as of March 31, 2024, down from $1,051 million at the end of 2023[70]. Equity and Dividends - Stockholders' equity increased to $5,045 million from $4,994 million, showing a growth of 1.0%[41]. - Dividends per Class A and Class C common share were $0.4033 for the three months ended March 31, 2024, compared to $0.3745 for the same period in 2023, reflecting an increase of 7.5%[56]. - The company declared a quarterly dividend of $0.4102 per share on May 9, 2024, payable on June 17, 2024[90]. - Noncontrolling interest increased to $2,987 million from $2,893 million, a rise of 3.2%[41]. Cash Flow - Net cash provided by operating activities increased to $81 million from $75 million year-over-year[61]. - Cash used in investing activities was $203 million, significantly higher than $86 million in the prior year[61]. - Cash and cash equivalents decreased to $478 million from $535 million, a decline of 10.7%[41]. - Cash, cash equivalents, and restricted cash totaled $963 million as of March 31, 2024, down from $1,051 million at the end of 2023[70]. Operational Highlights - The company has a commitment to continue expanding its market presence and investing in new technologies, although specific details were not provided in the extracted content[35]. - The company owned approximately 6,200 net MW of installed renewable energy facilities as of March 31, 2024[80]. - The company operates in both conventional power generation and renewable energy sectors, including solar, wind, and battery energy storage systems[168]. - The company is focused on expanding its clean energy investments and enhancing its renewable energy infrastructure across North America[47]. Acquisitions and Investments - The company acquired Drop Down Assets for a net cash outflow of $111 million during the quarter[71]. - The company acquired Cedar Creek Holdco LLC, a 160 MW wind facility, for cash consideration of $117 million on April 16, 2024[95]. - The Company acquired Texas Solar Nova 2, a 200 MW solar facility, for a cash consideration of $112 million, with $17 million funded by the Company and $95 million from a cash equity investor[113]. - The company assumed an $80 million term loan and a $115 million tax equity bridge loan as part of the acquisition of Texas Solar Nova 2[151]. Debt and Derivatives - The company recorded a total of $339 million in derivative liabilities as of March 31, 2024, reflecting a change in unrealized losses included in earnings[107]. - The company reported derivative liabilities related to energy-related commodity contracts of $361 million as of March 31, 2024, up from $330 million as of December 31, 2023[136]. - The fair value of total derivatives as of March 31, 2024, was $165 million, an increase from $123 million as of December 31, 2023[144]. - Interest expense decreased to $57 million for the three months ended March 31, 2024, down from $99 million for the same period in 2023, a reduction of 42.4%[56]. Tax and Compliance - The effective income tax rate for the three months ended March 31, 2024, was 22.0%, slightly down from 23.1% in the same period of 2023[158]. - The effective tax rate for the Company was different from the statutory rate of 21% due to the allocation of taxable earnings and losses[170].

Financial Performance - Total operating revenues for Q1 2024 were $263 million, a decrease of 8.7% compared to $288 million in Q1 2023[4] - Operating costs and expenses increased to $292 million in Q1 2024, up 18.7% from $246 million in Q1 2023[4] - Net loss attributable to Clearway Energy, Inc. was $2 million in Q1 2024, compared to a net loss of $40 million in Q1 2023[4] - The company reported a net loss of $46 million for the three months ended March 31, 2024, compared to a net loss of $13 million for the same period in 2023[30] - Adjusted EBITDA for Q1 2024 was $218 million, reflecting a strong operational performance despite the net loss[9] - Adjusted EBITDA decreased from $218 million in Q1 2023 to $211 million in Q1 2024, primarily due to the expiration of certain tolling agreements[47] Cash Flow and Liquidity - Cash provided by operating activities was $81 million in Q1 2024, an increase from $75 million in Q1 2023[7] - Net cash used in investing activities was $203 million in Q1 2024, compared to $86 million in Q1 2023[7] - Net cash provided by financing activities was $34 million in Q1 2024, up from $28 million in Q1 2023[7] - Cash, cash equivalents, and restricted cash at the end of Q1 2024 totaled $963 million, down from $1,013 million at the end of Q1 2023[7] - Clearway Energy's liquidity as of March 31, 2024, was $1.435 billion, down from $1.505 billion at the end of 2023[49] - Total liquidity as of March 31, 2024, was $1,435 million, a decrease of $70 million from December 31, 2023, primarily due to debt repayment and growth investments[72] Dividends and Shareholder Returns - Dividends per Class A and Class C common share increased to $0.4033 in Q1 2024, compared to $0.3745 in Q1 2023[4] - The company reaffirmed its 2024 financial guidance and increased the quarterly dividend by 1.7% to $0.4102 per share, annualized at $1.64 per share[44] - A quarterly dividend of $0.4102 per share was declared, payable on June 17, 2024, to stockholders of record as of June 3, 2024[77] - Clearway Energy continues to target annual dividend per share growth in the upper range of 5% to 8% through 2026[44] Assets and Liabilities - Total assets as of March 31, 2024, increased to $14,862 million from $14,701 million as of December 31, 2023, reflecting a growth of approximately 1.1%[23] - Total liabilities increased to $9,815 million as of March 31, 2024, from $9,706 million at the end of 2023, marking an increase of about 1.1%[23] - Long-term debt rose to $7,579 million from $7,479 million, an increase of approximately 1.3%[23] - Retained earnings decreased to $311 million as of March 31, 2024, down from $361 million, a decline of about 13.9%[23] Operational Highlights - Generation in the Renewables segment increased by 10% in Q1 2024 compared to Q1 2023, driven by growth investments[48] - The Conventional Equivalent Availability Factor improved to 86.3% for the three months ended March 31, 2024, compared to 74.4% for the same period in 2023[61] - Solar MWh generated/sold increased to 1,443, up from 866 MWh year-over-year, while Wind MWh generated/sold decreased to 2,519 from 2,744 MWh[61] Strategic Investments - Clearway Energy, Inc. continues to focus on strategic investments and market expansion to enhance future growth prospects[12] - The company committed to acquire a 50% cash equity interest in the Dan's Mountain wind project for $44 million, expected to contribute approximately $4 million in CAFD annually starting in 2026[52] - The Company committed to acquire a 50% cash equity interest in the Rosamond South I solar plus storage project for approximately $21 million, expected to contribute asset CAFD of about $2 million annually starting January 1, 2026[66] - The Cedar Creek wind project was acquired for $117 million, expected to contribute asset CAFD of approximately $13 million annually starting January 1, 2025[74] Cash Available for Distribution (CAFD) - Cash Available for Distribution (CAFD) is defined as Adjusted EBITDA plus cash distributions from unconsolidated affiliates, indicating the company's ability to earn and distribute cash returns to investors[18] - For Q1 2024, Clearway Energy reported a Net Loss of $(46) million, Adjusted EBITDA of $211 million, Cash from Operating Activities of $81 million, and Cash Available for Distribution (CAFD) of $52 million[57] - Cash Available for Distribution (CAFD) increased from $(4) million in Q1 2023 to $52 million in Q1 2024, attributed to lower debt service and higher wind generation[47] - The Company reaffirmed its 2024 full-year CAFD guidance of $395 million, factoring in committed growth investments and median renewable energy production estimates[80] Management Insights - Management emphasizes the use of Adjusted EBITDA as a measure for planning and forecasting overall expectations and evaluating actual results against such expectations[16] - The company acknowledges the limitations of CAFD as it does not include changes in operating assets and liabilities, which could materially affect financial condition and results from operations[20] Seasonal Impact - Seasonal factors significantly impact the Company's quarterly operating results, with most revenues generated from May through September[78]

Primarily relates to Thermal Development Expenses 2023 excludes $1,025 million of contributions related to the funding of Rosamond Central Battery Storage, Waiawa, Daggett, Victory Pass, Arica and Texas Solar Nova 1; 2022 excludes $118 million of contributions related to the funding of Mesquite Sky, Black Rock, Mililani, and Waiawa, and $2 million of distributions related to release of inverter reserves at Agua Caliente 2023 excludes $1,024 million for the repayment of construction loans in connection with ...

Business Overview - As of December 31, 2023, the company has approximately 6,000 net MW of installed wind, solar, and energy storage projects, and a total of approximately 8,500 net MW of assets, including 2,500 net MW of natural gas-fired generation facilities[21]. - The Company reported total operating revenues of $1,314 million for the year ended December 31, 2023, compared to $1,190 million in 2022, reflecting an increase of approximately 10.4%[36]. - The Company's total assets increased to $14,701 million in 2023 from $12,312 million in 2022, indicating growth in asset base[36]. - Total rated capacity of Clearway Energy, Inc. is 10,583 MW, with a net capacity of 8,451 MW as of December 31, 2023[195]. - The company has a total of 4,157 MW of wind capacity, with a net capacity of 3,658 MW[195]. - The total utility scale solar capacity is 3,432 MW, with a net capacity of 1,989 MW[193]. - Distributed solar projects account for 332 MW, all of which are 100% solar[193]. Financial Performance - The net income for the Company in 2023 was a loss of $14 million, a significant decrease from a net income of $1,060 million in 2022, which included a $1.29 billion gain from the sale of the Thermal Business[36]. - The Company intends to maintain a disciplined financial analysis and a balanced capital structure to increase its quarterly dividend over time[28]. - The Company intends to distribute a significant amount of Cash Available for Distribution (CAFD) each quarter, relying primarily on external financing sources for acquisitions and growth capital expenditures[76]. - The Company’s ability to maintain or increase dividends may be impacted by the issuance of additional equity securities and increased interest expenses from debt financing[76]. - The Company is committed to diversity and inclusion, providing unconscious bias training and focusing on three areas: Our People, Our Brand, Customers and Community, and Our Purchasing[56][59]. - The company declared a quarterly dividend of $0.4033 per share on February 14, 2024, payable on March 15, 2024[202]. - The company expects to continue paying comparable cash dividends in the foreseeable future based on current circumstances[203]. Growth Strategy - The company plans to grow its business through acquisitions of contracted operating assets, with a focus on cash accretive and tax-advantaged acquisitions[27]. - The Company’s growth strategy is contingent on public policy mechanisms supporting renewable energy, which are critical for the viability of its renewable assets[78]. - The Company is focused on North America for its investments, leveraging regional knowledge of power markets to maximize performance[27]. - The Company has committed investments in projects with Clearway Energy Group (CEG), including Cedar Creek (160 MW wind, ID, COD 1H24), Cedro Hill Repowering (160 MW wind, TX, COD 2H24), and Texas Solar Nova 2 (200 MW solar, TX, COD 1H24)[27]. - The Company aims to provide stable and growing dividend income through its diversified and primarily contracted portfolio[212]. Regulatory Environment - The Company is subject to various federal and state regulations, which may impact its operations and financial performance, particularly with potential revisions in 2024[48]. - The Company’s renewable energy projects are supported by various policy incentives, including PTCs and ITCs, which are crucial for maintaining project viability and attractiveness[38]. - The Company is subject to various federal, state, and local environmental and health regulations, which could lead to significant liabilities and costs exceeding property values[131]. - The EPA has implemented strict new methane emissions regulations, impacting the Company's conventional assets and potentially increasing operational costs[132]. - Legislative changes regarding carbon emissions could require the Company to install new equipment or purchase emission allowances, affecting profitability[133]. - Government incentives for renewable power generation are critical for the Company's growth strategy, and any changes could adversely affect project viability[141]. Risks and Challenges - The Company faces risks related to its ability to grow and make acquisitions, with limited cash on hand and competition from larger companies for acquisition opportunities[70][77]. - The Company is exposed to various risks, including operational risks from electric generation facilities and reliance on third-party service providers[70]. - The Company faces intense competition in the power generation industry, which has contributed to a reduction in electricity prices in certain markets[82]. - The company’s ability to replace expiring offtake agreements is challenged by increasing competition, potentially affecting profitability[82]. - The company’s financial condition may be adversely affected if power purchasers fail to fulfill their contractual obligations[81]. - The Company faces significant risks in the operation of electric generation facilities, including equipment breakdowns and unplanned outages, which could adversely affect financial performance and cash flows[94]. - The Company is exposed to risks from interest rate swaps and energy-related financial instruments, which could affect reported financial results if market conditions change[104]. - The Company is subject to cyber-based security risks that could lead to significant revenue losses and increased operational costs[111]. - The Company may face increased regulatory compliance costs due to potential cyberattacks, which could lead to significant penalties[113]. Corporate Governance - CEG, the Company's controlling stockholder, holds 54.91% of the combined voting power, significantly influencing corporate governance and strategic decisions[119]. - The CEG Master Services Agreement provides essential services to the Company, and any failure in these services could materially affect operations and financial results[121]. - The Company’s Board of Directors reviews emerging ESG matters and strategies, ensuring compliance with ESG disclosure requirements[63]. - The Company has established oversight mechanisms for cybersecurity risks, with the Board of Directors receiving regular updates on the cybersecurity landscape and compliance status[182]. Acquisitions and Investments - On December 28, 2023, the Company acquired Texas Solar Nova 1, a 252 MW solar project, for cash consideration of $23 million, with an additional $109 million contributed by a cash equity investor[214]. - On October 31, 2023, the Company acquired Class A membership interests in two solar projects in California for initial cash consideration of $46 million, with an expected additional payment of $182 million upon substantial completion[214]. - The Company expects to invest approximately $17 million in Texas Solar Nova 2, a 200 MW solar project, subject to certain milestones being met[214]. - The Company acquired Daggett 2, a 182 MW solar project paired with 131 MW of energy storage, for cash consideration of $13 million[214]. - BlackRock is expected to acquire 100% of the business and assets of GIM, the investment manager of the GIP funds, with the transaction anticipated to close in Q3 2024[211].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-36002 Clearway Energy, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 300 Carnegie Center, Suit ...

(a) The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 842: This footnote should be read in conjunction with the complete description under Item 15 — Note 7, Accounting for Derivative Instruments and Hedging Activities, to the consolidated financial statements included in the Company's 2022 Form 10-K. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Clearway Energy, Inc. (Exact name of registrant as specified in its charter) ...

• Executive Summary, including a description of the business and significant events that are important to understanding the results of operations and financial condition; • Results of operations, including an explanation of significant differences between the periods in the specific line items of the consolidated statements of income; • Financial condition addressing liquidity position, sources and uses of cash, capital resources and requirements, commitments and off-balance sheet arrangements; • Known tren ...

PG&E Pacific Gas and Electric Company PJM PJM Interconnection, LLC PPA Power Purchase Agreement PTC Production Tax Credit PUCT Public Utility Commission of Texas PUHCA Public Utility Holding Company Act of 2005 PURPA Public Utility Regulatory Policies Act of 1978 QF Qualifying Facility under PURPA RENOM Clearway Renewable Operation & Maintenance LLC ROFO Right of First Offer RPS Renewable Portfolio Standards RPV Holdco RPV Holdco 1 LLC RTO Regional Transmission Organization SCE Southern California Edison SE ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2022 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-36002 Clearway Energy, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 300 Carnegie Cen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-36002 Clearway Energy, Inc. (Exact name of registrant as specified in its charter) Delaware 46-1777204 (State or other jurisdiction of incorporation or organization) (I.R.S. Em ...