Clearwater Energy is one of the largest renewable power producers in the U.S., operating wind, solar and energy storage facilities across 27 states with a combined gross generating capacity of approximately 12.7 gigawatts. The firm issues two publicly traded share classes: Class A shares, which yield nearly 6%, and Class C shares, which yield about 5.6%. Over the past 12 months both share classes have appreciated by more than 20%, reflecting growing investor confidence in the company’s diversified asset base and steady cash distributions. Clearwater carries a market capitalization of roughly $3.8 billion and reported a gross margin near 19% in its most recent quarterly filing, underscoring its ability to generate cash despite ongoing project development costs.

In Q3 2025 Clearwater Energy more than doubled year-over-year earnings, driven largely by power purchase agreements with data center operators that account for a growing share of its renewable output. Wall Street consensus projects a further 30% upside for Class C shares over the next 12 months, based on analysts’ average price targets. The continued boom in hyperscale data center construction and long-term offtake contracts are expected to underpin cash flow growth through 2026. However, the shares currently trade at a premium valuation relative to midstream and renewable peers, which may limit upside if project execution or power prices disappoint.