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Clearway Energy, Inc. Reports First Quarter 2025 Financial Results
Globenewswireยท 2025-04-30 20:02
Financial Results - Clearway Energy, Inc. reported a net loss of $104 million for Q1 2025, compared to a net loss of $46 million in Q1 2024 [4][6][29] - Adjusted EBITDA for the first quarter of 2025 was $252 million, an increase from $211 million in the same period last year [5][8] - Cash from operating activities was $95 million, up from $81 million in Q1 2024, while Cash Available for Distribution (CAFD) rose to $77 million from $52 million [6][8] Operational Performance - The company achieved strong operational performance with availability and capacity factors improving year-over-year across all segments [7] - Generation in the Renewables & Storage segment increased by 13% year-over-year, primarily due to growth investments [9] Growth Initiatives - Clearway Energy is advancing its long-term financial objectives through fleet enhancements, sponsor-offered dropdowns, and asset-centered M&A [2] - The company announced the acquisition of a 100 MW operational solar project in California, with a capital commitment of $120 million to $125 million [13] - The acquisition of Tuolumne Wind, a 137 MW project, was completed with a capital commitment of $61 million, expected to contribute approximately $9 million in asset CAFD annually starting in 2026 [14] Financial Guidance - The company reaffirmed its 2025 full-year CAFD guidance range of $400 million to $440 million, based on median renewable energy production estimates and other operational factors [21][22] Dividend Declaration - Clearway Energy's Board of Directors declared a quarterly dividend of $0.4384 per share, payable on June 16, 2025 [18]