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Schedule I - Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Registrant
Clearway Energy, Inc. (Parent)
Condensed Financial Information of Registrant
Condensed Statements of Income
Year ended December 31,
(In millions)202420232022
Total operating costs and expenses$1 $1 $2 
Equity in (losses) earnings of consolidated subsidiaries(33)(13)1,282 
Total other (expense) income, net(33)(13)1,282 
(Loss) Income Before Income Taxes(34)(14)1,280 
Income tax expense29 — 220 
Net (Loss) Income(63)(14)1,060 
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests(151)(93)478 
Net Income Attributable to Clearway Energy, Inc.
$88 $79 $582 
-
Clearway Energy, Inc. (Parent)
Condensed Balance Sheets
December 31,December 31,
20242023
ASSETS(In millions)
Current Assets
Accounts receivable — affiliates$4 $3 
Note receivable — Clearway Energy Operating LLC— 1 
Other current assets9 13 
Other Assets
Investment in consolidated subsidiaries5,642 5,106 
Total Assets$5,655 $5,123 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Other Liabilities
Deferred income taxes87 125 
Other non-current liabilities4 4 
Total Liabilities91 129 
Commitments and Contingencies
Stockholders’ Equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued
— — 
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); 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 and 202,080,794 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 82,391,441, Class D 42,336,750) at December 31, 2023
1 1 
Additional paid-in capital1,805 1,732 
Retained earnings254 361 
Accumulated other comprehensive income3 7 
Noncontrolling interest3,501 2,893 
Total Stockholders’ Equity5,564 4,994 
Total Liabilities and Stockholders’ Equity$5,655 $5,123 
Clearway Energy, Inc. (Parent)
Condensed Statements of Cash Flows
Year ended December 31,
202420232022
(In millions)
Net Cash Used in Operating Activities$(2)$(31)$(10)
Cash Flows from Investing Activities
Cash advances for notes receivable — affiliate— — (4)
Cash received from notes receivable — affiliate1 1 3 
Net Cash Provided by (Used in) Investing Activities1 1 (1)
Cash Flows from Financing Activities
Cash received from Clearway Energy LLC for tax-related distributions1 30 11 
Cash received from Clearway Energy LLC for the payment of dividends 194 180 167 
Payment of dividends(194)(180)(167)
Net Cash Provided by Financing Activities1 30 11 
Net Change in Cash— — — 
Cash at Beginning of Period— — — 
Cash at End of Period$— $— $— 
Background and Basis of Presentation
Background
Clearway Energy, Inc., together with its consolidated subsidiaries, or the Company, is a publicly-traded energy infrastructure investor with a focus on investments in clean energy and owner of modern, sustainable and long-term contracted assets across North America. The Company is sponsored by Clearway Energy Group LLC, or CEG, which is equally owned by GIP and TotalEnergies. On October 1, 2024, BlackRock acquired 100% of the business and assets of GIM, which is the investment manager of the GIP funds that own an interest in CEG.
The Company is one of the largest owners of clean energy generation assets in the U.S. and a leading contributor to the transition to a world powered by clean energy. The Company’s portfolio comprises approximately 11.8 GW of gross capacity in 26 states, including approximately 9 GW of wind, solar and battery energy storage systems, or BESS, and approximately 2.8 GW of dispatchable combustion-based power generation assets included in the Flexible Generation segment that provide critical grid reliability services. Through this environmentally-sound, diversified and primarily contracted portfolio, the Company endeavors to provide its investors with stable and growing dividend income. The majority of the Company’s revenues are derived from long-term contractual arrangements for the output or capacity from these assets.
The Company consolidates the results of Clearway Energy LLC through its controlling interest, with CEG’s interest shown as noncontrolling interest in the financial statements. The holders of the Company’s outstanding shares of Class A and Class C common stock are entitled to dividends as declared. CEG receives its distributions from Clearway Energy LLC through its ownership of Clearway Energy LLC Class B and Class D units. From time to time, CEG may also hold shares of the Company’s Class A and/or Class C common stock.
As of December 31, 2024, the Company owned 58.10% of the economic interests of Clearway Energy LLC, with CEG owning 41.90% of the economic interests of Clearway Energy LLC.
Basis of Presentation
The condensed parent-only company financial statements have been prepared in accordance with Rule 12-04 of Regulation S-X, as the restricted net assets of Clearway Energy, Inc.’s subsidiaries exceed 25% of the consolidated net assets of Clearway Energy, Inc. The parent’s 100% investment in its subsidiaries has been recorded using the equity basis of accounting in the accompanying condensed parent-only financial statements. These statements should be read in conjunction with the consolidated financial statements and notes thereto of Clearway Energy, Inc.
Note 2 — Long-Term Debt
For a discussion of Clearway Energy, Inc.’s financing arrangements, see Note 10, Long-term Debt, to the Company’s consolidated financial statements.
Note 3 — Commitments, Contingencies and Guarantees
See Note 14, Income Taxes, and Note 16, Commitments and Contingencies, to the Company’s consolidated financial statements for a detailed discussion of Clearway Energy, Inc.’s commitments and contingencies.
Note 4 — Dividends
Cash distributions paid to Clearway Energy, Inc. by its subsidiary, Clearway Energy LLC, were $194 million, $180 million and $167 million for the years ended December 31, 2024, 2023, and 2022, respectively.