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Long-term Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
The Company’s borrowings, including short-term and long-term portions, consisted of the following:
December 31, 2024December 31, 2023
Interest rate % (a)(b)
Letters of Credit Outstanding at December 31, 2024
(In millions, except rates)
2028 Senior Notes$850 $850 4.750 
2031 Senior Notes925 925 3.750 
2032 Senior Notes 350 350 3.750 
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2028 (b)
— — 
S+1.500
$103 
Non-recourse facility level debt:
Agua Caliente Solar LLC, due 2037574 612 
2.395-3.633
14 
Alta Wind Asset Management LLC, due 203110 11 
S+2.775
— 
Alta Wind I-V lease financing arrangements, due 2034 and 2035609 660 
5.696-7.015
67 
Alta Wind Realty Investments LLC, due 2031 18 20 7.000 — 
Borrego, due 2038 45 48 5.6504 
Broken Bow, due 2031 (d)
— 41 — 
Buckthorn Solar, due 2025112 116 
S+2.100
20 
Capistrano Portfolio Holdco LLC, due 2033 (d)
118 — 
S+1.625
42 
Carlsbad Energy Holdings LLC, due 2027 70 93 
S+1.900
63 
Carlsbad Energy Holdings LLC, due 2038407 407 4.120 — 
Carlsbad Holdco, LLC, due 2038193 195 4.210 5 
Cedar Creek, due 2029108 — 
S+1.625
19 
Cedro Hill, due 202999 165 
S+1.750
3 
Crofton Bluffs, due 2031 (d)
— 27 — 
CVSR, due 2037573 601 
2.339-3.775
— 
CVSR Holdco Notes, due 2037143 152 4.680 12 
Daggett 2, due 2028155 156 
S+1.762
32 
Daggett 3, due 2028217 217 
S+1.762
44 
Dan’s Mountain, due 2025143 — 
S+1.250
5 
DG-CS Master Borrower LLC, due 2040356 385 3.510 30 
Mililani Class B Member Holdco LLC, due 202890 92 
S+1.600
18 
Natural Gas Holdco LC Facility, due 2027— — 
S+1.750
105 
NIMH Solar, due 2031 and 2033126 148 
S+2.000-2.125
11 
Oahu Solar Holdings LLC, due 202678 81 
S+1.775
10 
Rosie Class B LLC, due 2029191 347 
S+1.750
28 
Texas Solar Nova 1, due 2028 (c)
— 102 — 
TSN1 Class B Member LLC, due 2029 (c)
176 — 
S+1.750
52 
Utah Solar Holdings, due 2036228 242 3.590 154 
Viento Funding II, LLC, due 2029 160 175 
S+1.475
29 
Victory Pass and Arica, due 2024— 757 — 
Other111 124 Various 49 
Subtotal non-recourse facility-level debt5,110 5,974 
Total debt7,235 8,099 
Less current maturities(430)(558)
Less net debt issuance costs(57)(65)
Add premiums (e)
2 3 
Total long-term debt$6,750 $7,479 
(a) As of December 31, 2024, S+ equals SOFR plus x%.
(b) Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement, and only applies to outstanding borrowings.
(c) On March 15, 2024, Texas Solar Nova 1’s financing agreement was amended to merge the facility-level debt of Texas Solar Nova 1 and Texas Solar Nova 2 as a combined term loan under TSN1 Class B Member LLC.
(d) On October 23, 2024, the outstanding debt of Broken Bow and Crofton Bluffs was paid off utilizing the proceeds from the Capistrano Portfolio Holdco LLC term loan that was issued on the same day.
(e) Premiums relate to the 2028 Senior Notes.
Summary of Swaps Related to the Company's Project Level Debt
The following table summarizes the swaps, some of which are forward starting as indicated, related to the Company’s facility level debt:
% of PrincipalFixed Interest RateFloating Interest RateNotional Amount at December 31, 2024 (In millions)Effective DateMaturity Date
Avra Valley85 %2.20 %SOFR$26 March 31, 2023January 31, 2031
Alta Wind Asset Management100 %2.22 %SOFR10 May 22, 2013May 15, 2031
Buckthorn Solar80 %VariousSOFR90 February 28, 2018December 31, 2041
Capistrano Portfolio Holdco100 %VariousSOFR118 October 23, 2024September 28, 2033
Carlsbad Energy Holdings100 %VariousSOFR70 VariousSeptember 30, 2027
Cedar Creek100 %3.02 %SOFR108 April 30, 2024March 31, 2049
Cedro Hill 85 %VariousSOFR84 VariousSeptember 30, 2044
Daggett 289 %VariousSOFR137 March 29, 2024March 31, 2043
Daggett 385 %VariousSOFR184 VariousSeptember 30, 2043
Dan’s Mountain93 %4.97 %SOFR133 March 29, 2024February 28, 2025
Kansas South75 %1.93 %SOFR11 June 28, 2013December 31, 2030
Mililani Class B97 %VariousSOFR87 VariousVarious
NIMH Solar100 %3.25 %SOFR126 June 11, 2024January 31, 2033
Oahu Solar96 %2.47 %SOFR75 November 30, 2019October 31, 2040
Rosie Class B94 %VariousSOFR179 VariousVarious
South Trent90 %VariousSOFR18 VariousJune 30, 2028
TSN1 Class B96 %VariousSOFR169 March 29, 2024September 30, 2043
Viento Funding II90 %2.53 %SOFR144 VariousDecember 31, 2032
Total$1,769 
Schedule of Annual Payments Based on the Maturities of NRG Yield's Debt
Annual payments based on the maturities of the Company’s debt, for the years ending after December 31, 2024, are as follows:
 (In millions)
2025 (a)
$555 
2026393 
2027333 
2028
1,626 
2029
821 
Thereafter 3,507 
Total$7,235 
(a) At December 31, 2024, amount includes $125 million of construction-related financings recorded in long-term debt on the Company’s consolidated balance sheet that is being funded through long-term equity contributions.