Welcome to our dedicated page for Clearway Energy Class C news (Ticker: CWEN), a resource for investors and traders seeking the latest updates and insights on Clearway Energy Class C stock.
Clearway Energy, Inc. (CWEN) is a leading developer and operator of renewable energy projects in the United States. The company boasts over 5.7 gigawatts of clean energy assets, including wind, solar, and energy storage, managed through its affiliate, Clearway Energy, Inc. As a publicly traded energy infrastructure investor, Clearway Energy focuses on clean energy investments and operates a diverse portfolio of long-term, contracted assets across North America.
The company's operations are segmented into three divisions: Conventional Power Generation, Renewables, and Thermal. It owns approximately 6,000 net megawatts (MW) of renewable energy projects and an additional 2,500 net MW of environmentally-sound natural gas generation facilities. This diversified portfolio enables Clearway Energy to provide its investors with stable and growing dividend income.
In recent developments, Clearway Energy has shown significant growth. For instance, in the fourth quarter of 2023, the company's Renewables segment saw a 3% increase in generation compared to the same period in 2022, primarily due to new growth investments. Similarly, the Conventional segment experienced higher availability in the same period due to reduced downtime at key facilities.
Financially, the company has maintained a solid performance. Clearway Energy's Adjusted EBITDA and Cash Available for Distribution (CAFD) have shown positive trends, reflecting the company's strong operational efficiency and strategic growth investments. The company's recent quarterly reports indicate an increase in cash from operating activities and improved availability of its energy generation assets.
Clearway Energy also maintains a strong focus on sustainability. Its assets include highly efficient natural gas generation facilities that complement its extensive renewable energy projects, ensuring a balanced and environmentally responsible energy portfolio.
Clearway Energy, Inc. is sponsored by its controlling investor, Clearway Energy Group LLC, and its Class C and Class A common stock are traded on the New York Stock Exchange under the symbols CWEN and CWEN.A, respectively. Investors can find more information on their official website, investor.clearwayenergy.com.
Clearway Energy has signed a binding agreement to acquire the 137 MW Tuolumne Wind Project from Turlock Irrigation District in Klickitat County, WA. The operational wind project, which began commercial operations in 2009, will operate under a new 15-year PPA with Turlock Irrigation District through 2040. The acquisition requires a corporate capital commitment of $70-75 million and is expected to provide incremental annual levered asset CAFD of approximately $9 million starting January 2026. The deal includes a contractual extension option for potential future repowering and is expected to close in Q1 2025.
Clearway Energy (CWEN) reported Q3 2024 financial results with Net Income of $27 million, Adjusted EBITDA of $354 million, and Cash Available for Distribution (CAFD) of $146 million. The company signed an agreement to invest in a 500 MW solar plus storage project and received an offer for a 320 MW storage hybridization project. CWEN reaffirmed its 2024 CAFD guidance of $395 million and initiated 2025 guidance range of $400-440 million. The quarterly dividend was increased by 1.7% to $0.4240 per share. The company is targeting CAFD per share of $2.40-2.60 in 2027, representing 7.5% to 12% annual growth from 2025.
Clearway Energy, Inc. (NYSE: CWEN, CWEN.A) has announced its plan to report Third Quarter 2024 financial results on Wednesday, October 30, 2024. The company will present these results during a conference call and webcast at 8:00 a.m. Eastern. Investors and interested parties can access the live webcast, including presentation materials, through the company's website at http://www.clearwayenergy.com under the Investor Relations section's "Presentations & Webcasts" tab. For those unable to attend in real-time, the webcast will be archived on the site for later viewing.
Clearway Energy, Inc. (NYSE: CWEN, CWEN.A) reported solid Q2 2024 financial results, including Net Income of $4 million, Adjusted EBITDA of $353 million, and Cash Available for Distribution (CAFD) of $187 million. The company reaffirmed its 2024 CAFD guidance of $395 million and increased its quarterly dividend by 1.7% to $0.4171 per share. Clearway signed agreements to invest in 314 MW of solar plus storage projects and received an offer for a 500 MW solar plus storage project. The company also entered a new Resource Adequacy contract for Marsh Landing and continues to target annual dividend growth in the upper range of 5% to 8% through 2026.
Clearway Energy plans to release its Second Quarter 2024 financial results on August 1, 2024. The company will host a conference call and webcast at 8:00 a.m. Eastern to discuss the results. Investors can access the live webcast and presentation materials through Clearway Energy's website under the Investor Relations section. The webcast will also be available on the site for later access.
Clearway Energy, Inc. reported its first quarter 2024 financial results, signing agreements for wind and solar projects, new Resource Adequacy Contracts, and increasing quarterly dividend. The company reported a Net Loss of $(46) million, Adjusted EBITDA of $211 million, Cash from Operating Activities of $81 million, and Cash Available for Distribution of $52 million. The company remains optimistic about achieving its 2024 financial objectives and long-term dividend growth targets.
Clearway Energy, Inc. announced CEO transition where Chris Sotos will step down as CEO and Craig Cornelius will take over. The transition is effective June 30, 2024. Sotos led the company to financial success since its 2013 IPO, and Cornelius has a proven track record in renewable energy. The company reaffirmed its 2024 full year CAFD guidance of $395 million, anticipating growth investments and renewable energy production estimates.
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