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v3.25.3

Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2025
Accounting Policies [Abstract] |
Schedule of Cash and Cash Equivalents | The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows:
| September 30, 2025 |  | December 31, 2024
| (In millions)
Cash and cash equivalents | $ | 251 |  |  | $ | 332 |
Restricted cash | 390 |  |  | 401 |
Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | $ | 641 |  |  | $ | 733 |
Schedule of Restricted Cash | The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows:
| September 30, 2025 |  | December 31, 2024
| (In millions)
Cash and cash equivalents | $ | 251 |  |  | $ | 332 |
Restricted cash | 390 |  |  | 401 |
Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | $ | 641 |  |  | $ | 733 |
Schedule of Accumulated Amortization and Depreciation | The following table presents the accumulated depreciation included in property, plant and equipment, net, and accumulated amortization included in intangible assets, net:
| September 30, 2025 |  | December 31, 2024
| (In millions)
Property, Plant and Equipment Accumulated Depreciation | $ | 4,566 |  |  | $ | 4,086 |
Intangible Assets Accumulated Amortization | 1,332 |  |  | 1,194 |
Schedule of Dividends Declared | The following table lists the dividends paid on the Company's Class A and Class C common stock during the nine months ended September 30, 2025:
|  |  | Third Quarter 2025 |  | Second Quarter 2025 |  | First Quarter 2025
Dividends per Class A share |  |  | $ | 0.4456 |  |  | $ | 0.4384 |  |  | $ | 0.4312 |
Dividends per Class C share |  |  | 0.4456 |  |  | 0.4384 |  |  | 0.4312 |
Schedule of Distributions Made to Limited Liability Company (LLC) Member, by Distribution | The following table lists distributions paid to CEG during the nine months ended September 30, 2025 on Clearway Energy LLC’s Class B and D units:
|  |  | Third Quarter 2025 |  | Second Quarter 2025 |  | First Quarter 2025
Distributions per Class B Unit |  |  | $ | 0.4456 |  |  | $ | 0.4384 |  |  | $ | 0.4312 |
Distributions per Class D Unit |  |  | 0.4456 |  |  | 0.4384 |  |  | 0.4312 |
Schedule of Redeemable Noncontrolling Interest | The following table reflects the changes in the Company’s redeemable noncontrolling interest balance:
|  | (In millions)
Balance at December 31, 2024 |  | $ | — |
Cash contributions from redeemable noncontrolling interests |  | 276 |
Non-cash distributions to redeemable noncontrolling interests |  | (4) |
Comprehensive loss attributable to redeemable noncontrolling interests |  | (198) |
Balance at September 30, 2025 |  | $ | 74 |
Schedule of Disaggregation of Revenue | The following tables represent the Company’s disaggregation of revenue from contracts with customers along with the reportable segment for each category:
| Three months ended September 30, 2025
(In millions) | Flexible Generation |  | Renewables & Storage |  |  |  | Total
Energy revenue (a) | $ | 13 |  |  | $ | 350 |  |  |  |  | $ | 363 |
Capacity revenue (a) | 69 |  |  | 25 |  |  |  |  | 94 |
Other revenues | 3 |  |  | 23 |  |  |  |  | 26 |
Contract amortization | (5) |  |  | (45) |  |  |  |  | (50) |
Mark-to-market for economic hedges | 26 |  |  | (30) |  |  |  |  | (4) |
Total operating revenues | 106 |  |  | 323 |  |  |  |  | 429 |
Less: Contract amortization | 5 |  |  | 45 |  |  |  |  | 50 |
Less: Mark-to-market for economic hedges | (26) |  |  | 30 |  |  |  |  | 4 |
Less: Lease revenue | (29) |  |  | (253) |  |  |  |  | (282) |
Total revenue from contracts with customers | $ | 56 |  |  | $ | 145 |  |  |  |  | $ | 201 |
(a) The following amounts of energy and capacity revenues relate to leases and are accounted for under ASC 842:
(In millions) | Flexible Generation |  | Renewables & Storage |  | Total
Energy revenue | $ | 1 |  |  | $ | 237 |  |  | $ | 238 |
Capacity revenue | 28 |  |  | 16 |  |  | 44 |
Total | $ | 29 |  |  | $ | 253 |  |  | $ | 282 |
| Three months ended September 30, 2024
(In millions) | Flexible Generation |  | Renewables & Storage |  |  |  |  |  | Total
Energy revenue (a) | $ | 35 |  |  | $ | 315 |  |  |  |  |  |  | $ | 350 |
Capacity revenue (a) | 65 |  |  | 22 |  |  |  |  |  |  | 87 |
Other revenues | 3 |  |  | 20 |  |  |  |  |  |  | 23 |
Contract amortization | (5) |  |  | (41) |  |  |  |  |  |  | (46) |
Mark-to-market for economic hedges | 4 |  |  | 68 |  |  |  |  |  |  | 72 |
Total operating revenues | 102 |  |  | 384 |  |  |  |  |  |  | 486 |
Less: Contract amortization | 5 |  |  | 41 |  |  |  |  |  |  | 46 |
Less: Mark-to-market for economic hedges | (4) |  |  | (68) |  |  |  |  |  |  | (72) |
Less: Lease revenue | (27) |  |  | (247) |  |  |  |  |  |  | (274) |
Total revenue from contracts with customers | $ | 76 |  |  | $ | 110 |  |  |  |  |  |  | $ | 186 |
(a) The following amounts of energy and capacity revenues relate to leases and are accounted for under ASC 842:
(In millions) | Flexible Generation |  | Renewables & Storage |  | Total
Energy revenue | $ | 1 |  |  | $ | 234 |  |  | $ | 235 |
Capacity revenue | 26 |  |  | 13 |  |  | 39 |
Total | $ | 27 |  |  | $ | 247 |  |  | $ | 274 |
| Nine months ended September 30, 2025
(In millions) | Flexible Generation |  | Renewables & Storage |  |  |  |  |  | Total
Energy revenue (a) | $ | 24 |  |  | $ | 925 |  |  |  |  |  |  | $ | 949 |
Capacity revenue (a) | 201 |  |  | 68 |  |  |  |  |  |  | 269 |
Other revenues | 5 |  |  | 63 |  |  |  |  |  |  | 68 |
Contract amortization | (14) |  |  | (125) |  |  |  |  |  |  | (139) |
Mark-to-market for economic hedges | 8 |  |  | (36) |  |  |  |  |  |  | (28) |
Total operating revenues | 224 |  |  | 895 |  |  |  |  |  |  | 1,119 |
Less: Contract amortization | 14 |  |  | 125 |  |  |  |  |  |  | 139 |
Less: Mark-to-market for economic hedges | (8) |  |  | 36 |  |  |  |  |  |  | 28 |
Less: Lease revenue | (87) |  |  | (678) |  |  |  |  |  |  | (765) |
Total revenue from contracts with customers | $ | 143 |  |  | $ | 378 |  |  |  |  |  |  | $ | 521 |
(a) The following amounts of energy and capacity revenues relate to leases and are accounted for under ASC 842:
(In millions) | Flexible Generation |  | Renewables & Storage |  | Total
Energy revenue | $ | 2 |  |  | $ | 637 |  |  | $ | 639 |
Capacity revenue | 85 |  |  | 41 |  |  | 126 |
Total | $ | 87 |  |  | $ | 678 |  |  | $ | 765 |
| Nine months ended September 30, 2024
(In millions) | Flexible Generation |  | Renewables & Storage |  |  |  | Total
Energy revenue (a) | $ | 67 |  |  | $ | 870 |  |  |  |  | $ | 937 |
Capacity revenue (a) | 195 |  |  | 44 |  |  |  |  | 239 |
Other revenues | 6 |  |  | 63 |  |  |  |  | 69 |
Contract amortization | (14) |  |  | (124) |  |  |  |  | (138) |
Mark-to-market for economic hedges | 12 |  |  | (4) |  |  |  |  | 8 |
Total operating revenues | 266 |  |  | 849 |  |  |  |  | 1,115 |
Less: Contract amortization | 14 |  |  | 124 |  |  |  |  | 138 |
Less: Mark-to-market for economic hedges | (12) |  |  | 4 |  |  |  |  | (8) |
Less: Lease revenue | (84) |  |  | (691) |  |  |  |  | (775) |
Total revenue from contracts with customers | $ | 184 |  |  | $ | 286 |  |  |  |  | $ | 470 |
(a) The following amounts of energy and capacity revenues relate to leases and are accounted for under ASC 842:
(In millions) | Flexible Generation |  | Renewables & Storage |  | Total
Energy revenue | $ | 2 |  |  | $ | 661 |  |  | $ | 663 |
Capacity revenue | 82 |  |  | 30 |  |  | 112 |
Total | $ | 84 |  |  | $ | 691 |  |  | $ | 775 |
Schedule of Contract with Customer, Asset and Liability | The following table reflects the contract assets included on the Company’s consolidated balance sheets:
| September 30, 2025 |  | December 31, 2024
| (In millions)
Accounts receivable, net - Contracts with customers | $ | 99 |  |  | $ | 75 |
Accounts receivable, net - Leases | 139 |  |  | 89 |
Total accounts receivable, net | $ | 238 |  |  | $ | 164 |

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