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Segment Reporting | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company’s segment structure reflects how management currently operates and allocates resources. The Company’s businesses are segregated based on Flexible Generation and Renewables & Storage businesses, which consist of solar, wind and battery energy storage system, or BESS, facilities. The Corporate segment reflects the Company’s corporate costs and includes eliminating entries. The Company’s chief operating decision maker, its Chief Executive Officer, evaluates the performance of its segments based on net income (loss). The Company’s Chief Executive Officer reviews net income (loss) and its components on a monthly and quarterly basis to evaluate the performance of each segment and to determine how to allocate resources.
| Three months ended June 30, 2026
(In millions) | Flexible Generation |  | Renewables & Storage |  | Corporate (a) |  | Total
Operating revenues | $ | 86 |  |  | $ | 395 |  |  | $ | — |  |  | $ | 481 |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 29 |  |  | 120 |  |  | — |  |  | 149 |
Depreciation, amortization and accretion | 28 |  |  | 168 |  |  | — |  |  | 196 |
General and administrative | — |  |  | — |  |  | 15 |  |  | 15 |
Transaction and integration costs | — |  |  | — |  |  | 5 |  |  | 5 |
Operating income (loss) | 29 |  |  | 107 |  |  | (20) |  |  | 116 |
Equity in earnings of unconsolidated affiliates | — |  |  | 11 |  |  | — |  |  | 11 |
Other income, net | 1 |  |  | 6 |  |  | 1 |  |  | 8 |
Loss on debt extinguishment | — |  |  | (3) |  |  | — |  |  | (3) |
Interest expense | (8) |  |  | (66) |  |  | (31) |  |  | (105) |
Income (loss) before income taxes | 22 |  |  | 55 |  |  | (50) |  |  | 27 |
Income tax benefit | — |  |  | — |  |  | (3) |  |  | (3) |
Net Income (Loss) | 22 |  |  | 55 |  |  | (47) |  |  | 30 |
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests | — |  |  | (198) |  |  | 106 |  |  | (92) |
Net Income (Loss) Attributable to Clearway Energy, Inc. | $ | 22 |  |  | $ | 253 |  |  | $ | (153) |  |  | $ | 122 |
Balance Sheet |  |  |  |  |  |  |
Capital expenditures (b) | $ | 1 |  |  | $ | 46 |  |  | $ | — |  |  | $ | 47 |
(a) Includes eliminations. (b) Includes accruals.
| Three months ended June 30, 2025 (as revised) (a)
(In millions) | Flexible Generation |  | Renewables & Storage |  | Corporate (b) |  | Total
Operating revenues | $ | 50 |  |  | $ | 342 |  |  | $ | — |  |  | $ | 392 |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 24 |  |  | 107 |  |  | — |  |  | 131 |
Depreciation, amortization and accretion | 28 |  |  | 135 |  |  | — |  |  | 163 |
General and administrative | — |  |  | — |  |  | 11 |  |  | 11 |
Transaction and integration costs | — |  |  | — |  |  | 2 |  |  | 2 |
Operating (loss) income | (2) |  |  | 100 |  |  | (13) |  |  | 85 |
Equity in earnings of unconsolidated affiliates | — |  |  | 7 |  |  | — |  |  | 7 |
Other income, net | 1 |  |  | 6 |  |  | 1 |  |  | 8 |
Interest expense | (10) |  |  | (50) |  |  | (23) |  |  | (83) |
(Loss) income before income taxes | (11) |  |  | 63 |  |  | (35) |  |  | 17 |
Income tax expense | — |  |  | — |  |  | 5 |  |  | 5 |
Net (Loss) Income | (11) |  |  | 63 |  |  | (40) |  |  | 12 |
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests | — |  |  | (45) |  |  | 27 |  |  | (18) |
Net (Loss) Income Attributable to Clearway Energy, Inc. | $ | (11) |  |  | $ | 108 |  |  | $ | (67) |  |  | $ | 30 |
Balance Sheet |  |  |  |  |  |  |
Capital expenditures (c) | $ | — |  |  | $ | 51 |  |  | $ | — |  |  | $ | 51 |
(a) The following table reconciles the revisions for the Renewables & Storage and Corporate segments:
| Three months ended June 30, 2025
(In millions) | As Previously Reported |  | Adjustments |  | As Revised
Renewables & Storage Segment: |  |  |  |  |
Net loss attributable to noncontrolling interests | $ | (50) |  |  | $ | 5 |  |  | $ | (45) |
Net income attributable to Clearway Energy, Inc. | 113 |  |  | (5) |  |  | 108 |
Corporate Segment: |  |  |  |  |
Net income attributable to noncontrolling interests | $ | 29 |  |  | $ | (2) |  |  | $ | 27 |
Net loss attributable to Clearway Energy, Inc. | (69) |  |  | 2 |  |  | (67) |
(b) Includes eliminations. (c) Includes accruals.
| Six months ended June 30, 2026
(In millions) | Flexible Generation |  | Renewables & Storage |  | Corporate (a) |  | Total
Operating revenues | $ | 147 |  |  | $ | 688 |  |  | $ | — |  |  | $ | 835 |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 59 |  |  | 224 |  |  | — |  |  | 283 |
Depreciation, amortization and accretion | 56 |  |  | 321 |  |  | 1 |  |  | 378 |
General and administrative | — |  |  | — |  |  | 26 |  |  | 26 |
Transaction and integration costs | — |  |  | — |  |  | 12 |  |  | 12 |
Operating income (loss) | 32 |  |  | 143 |  |  | (39) |  |  | 136 |
Equity in earnings of unconsolidated affiliates | 2 |  |  | 14 |  |  | — |  |  | 16 |
Other income, net | 2 |  |  | 11 |  |  | 3 |  |  | 16 |
Loss on debt extinguishment | — |  |  | (5) |  |  | — |  |  | (5) |
Interest expense | (16) |  |  | (123) |  |  | (67) |  |  | (206) |
Income (loss) before income taxes | 20 |  |  | 40 |  |  | (103) |  |  | (43) |
Income tax benefit | — |  |  | — |  |  | (5) |  |  | (5) |
Net Income (Loss) | 20 |  |  | 40 |  |  | (98) |  |  | (38) |
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interest | — |  |  | (150) |  |  | 153 |  |  | 3 |
Net Income (Loss) Attributable to Clearway Energy, Inc. | $ | 20 |  |  | $ | 190 |  |  | $ | (251) |  |  | $ | (41) |
Balance Sheet |  |  |  |  |  |  |
Equity investments in affiliates | $ | 70 |  |  | $ | 305 |  |  | $ | — |  |  | $ | 375 |
Capital expenditures (b) | 5 |  |  | 124 |  |  | — |  |  | 129 |
Total Assets | $ | 1,770 |  |  | $ | 14,876 |  |  | $ | 126 |  |  | $ | 16,772 |
(a) Includes eliminations. (b) Includes accruals.
| Six months ended June 30, 2025 (as revised) (a)
(In millions) | Flexible Generation |  | Renewables & Storage |  | Corporate (b) |  | Total
Operating revenues | $ | 118 |  |  | $ | 572 |  |  | $ | — |  |  | $ | 690 |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 55 |  |  | 198 |  |  | — |  |  | 253 |
Depreciation, amortization and accretion | 56 |  |  | 270 |  |  | — |  |  | 326 |
General and administrative | — |  |  | — |  |  | 21 |  |  | 21 |
Transaction and integration costs | — |  |  | — |  |  | 5 |  |  | 5 |
Operating income (loss) | 7 |  |  | 104 |  |  | (26) |  |  | 85 |
Equity in earnings of unconsolidated affiliates | — |  |  | 12 |  |  | — |  |  | 12 |
Other income, net | 2 |  |  | 11 |  |  | 2 |  |  | 15 |
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | — |
Interest expense | (18) |  |  | (134) |  |  | (47) |  |  | (199) |
Loss before income taxes | (9) |  |  | (7) |  |  | (71) |  |  | (87) |
Income tax expense | — |  |  | — |  |  | 5 |  |  | 5 |
Net Loss | (9) |  |  | (7) |  |  | (76) |  |  | (92) |
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests | — |  |  | (144) |  |  | 25 |  |  | (119) |
Net (Loss) Income Attributable to Clearway Energy, Inc. | $ | (9) |  |  | $ | 137 |  |  | $ | (101) |  |  | $ | 27 |
Balance Sheet |  |  |  |  |  |  |
Equity investments in affiliates | $ | 73 |  |  | $ | 224 |  |  | $ | — |  |  | $ | 297 |
Capital expenditures (c) | 2 |  |  | 87 |  |  | — |  |  | 89 |
Total Assets | $ | 1,879 |  |  | $ | 14,083 |  |  | $ | 71 |  |  | $ | 16,033 |
(a) The following table reconciles the revisions for the Renewables & Storage and Corporate segments:
| Six months ended June 30, 2025
(In millions) | As Previously Reported |  | Adjustments |  | As Revised
Renewables & Storage Segment: |  |  |  |  |
Net loss attributable to noncontrolling interests | $ | (161) |  |  | $ | 17 |  |  | $ | (144) |
Net income attributable to Clearway Energy, Inc. | 154 |  |  | (17) |  |  | 137 |
Corporate Segment: |  |  |  |  |
Net income attributable to noncontrolling interests | $ | 32 |  |  | $ | (7) |  |  | $ | 25 |
Net loss attributable to Clearway Energy, Inc. | (108) |  |  | 7 |  |  | (101) |
(b) Includes eliminations. (c) Includes accruals.

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