Clearway Energy ( (CWEN) ) has realeased its Q3 earnings. Here is a breakdown of the information Clearway Energy presented to its investors.
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Clearway Energy, Inc. is a leading owner and operator of clean energy generation assets in the United States, primarily focusing on wind, solar, and energy storage, with a diverse portfolio that provides stability and growth in dividend income for investors.
In its third quarter of 2024 financial results, Clearway Energy reported a Net Income of $27 million, Adjusted EBITDA of $354 million, and Cash Available for Distribution of $146 million. The company announced an increase in its quarterly dividend and introduced new financial guidance for 2025, reflecting its commitment to growth and shareholder value.
Key financial highlights include a 27% increase in renewable energy generation compared to the same quarter last year, driven by growth investments, and a slight decrease in Cash Available for Distribution due to the expiration of a tolling agreement. Clearway Energy also signed a significant investment commitment in a 500 MW solar plus storage project, and received an offer for a 320 MW storage hybridization project, indicating strategic expansions in its clean energy portfolio.
The company’s liquidity stood at $1,266 million as of September 30, 2024, slightly reduced due to ongoing growth investments. Despite this, Clearway reaffirmed its 2024 financial guidance and provided a positive outlook for 2025, targeting substantial growth in Cash Available for Distribution by 2027.
Looking ahead, Clearway Energy’s management remains optimistic about achieving its financial objectives through 2026, supported by strategic investments and a robust pipeline of clean energy projects, positioning the company for sustained long-term growth.
