Clearway Energy(US:CWEN)2025-08-05 21:00Financial Performance & Guidance - Second quarter 2025 CAFD reached $152 million, impacted by lower renewable resource[13] - The company is updating its 2025 CAFD guidance range to $405-440 million, raising the bottom end due to closed 3rd party M&A[13,40] - The company is targeting CAFD per share to $2.50-2.70 in 2027, increased from $2.40-2.60 previously[13] - The company expects to generate over $270 million of retained CAFD cumulatively between 2025-2027 and to have over $600 million of debt capacity to fund growth[44] Growth Initiatives - The company announced a dividend increase of 1.6% to $0.4456/share in 3Q25, or $1.7824/share annualized[13] - Mt Storm repowering is set to begin in 2H25, completed in two phases in 2026 and 2027, with estimated corporate capital of ~$220-230 million and a target 5-year average incremental annual asset CAFD yield of ~11-13%[13,19] - The company signed a 15-year PPA for Goat Mountain repowering with a hyperscaler customer, targeting a 2027 COD, with estimated corporate capital of ~$200 million and a target 5-year average incremental annual asset CAFD yield of +10%[13,19] - The company received an offer to invest in a 291 MW battery storage portfolio, requiring ~$65 million of estimated corporate capital[13] - The company closed a 3rd party M&A agreement for the operational Catalina Solar project, requiring ~$122 million of estimated corporate capital[13] Pipeline & Future Growth - The late-stage pipeline through 2029 vintages has over $1.5 billion of potential corporate capital investments beyond already offered/committed projects/advanced repowerings[32] - Clearway Group has 9.4 GW of late-stage projects through the end of the decade[13,60]