Clearway Energy Reports $298 Million Revenue and $4 Million Net Income in Q1 2025

Clearway Energy, Inc. reported a total operating revenue of $298 million for the first quarter of 2025, marking a 13.3% increase from $263 million in the same period of 2024. The company's net income attributable to Clearway Energy, Inc. was $4 million, a significant improvement compared to a net loss of $2 million in the prior year. This positive shift in profitability was attributed to increased revenues from the Renewables & Storage segment, which saw a rise of $22 million, alongside a decrease in costs associated with fuel purchases.

The company experienced notable changes in its operational metrics, with total operating costs rising slightly to $298 million from $292 million year-over-year. The cost of operations, excluding depreciation and amortization, decreased to $122 million from $126 million, while depreciation, amortization, and accretion costs increased to $163 million from $154 million. Interest expenses surged to $116 million, up from $57 million, primarily due to changes in the fair value of interest rate swaps amid fluctuating interest rates.

Strategically, Clearway Energy made significant acquisitions during the quarter, including the Tuolumne wind facility for approximately $207 million and the Luna Valley solar facility, which is currently under construction. The company also acquired the Daggett 1 battery energy storage system and the Rosamond South I solar facility, with total capital investments expected to reach $90 million and $21 million, respectively. These acquisitions are part of Clearway's strategy to expand its renewable energy portfolio and enhance its operational capacity.

Operationally, Clearway Energy's portfolio now includes approximately 11.8 gigawatts of gross capacity across 26 states, with a focus on wind, solar, and battery energy storage systems. The company reported solar and wind generation of 1,738 and 2,743 megawatt-hours, respectively, for the quarter. The weighted average capacity factors for solar and wind facilities were 25.7% and 33.9%, indicating stable operational performance. As of March 31, 2025, the company maintained a liquidity position of approximately $1.325 billion, which includes cash, restricted cash, and availability under its revolving credit facility.

Looking ahead, Clearway Energy anticipates continued growth driven by its strategic acquisitions and investments in renewable energy assets. The company expects to maintain its quarterly dividend of $0.4312 per share, reflecting its commitment to providing stable returns to shareholders. Management remains optimistic about the future, citing a strong pipeline of projects and a favorable market environment for renewable energy investments.