Clearway Energy Posts Q1 Net Loss of $68M, $257M Adjusted EBITDA
Clearway Energy reported a first-quarter 2026 net loss of $68 million, adjusted EBITDA of $257 million, $401 million in operating cash flow and $70 million in CAFD. Expanded late-stage pipeline by 20% to 12.7 GW, secured Mesquite Sky PPA and approved share structure simplification, reaffirming 2026 guidance.
1. Q1 Financial Results
Clearway Energy posted a net loss of $68 million in the first quarter of 2026, compared with a $104 million loss in Q1 2025, driven largely by mark-to-market hedge changes. Adjusted EBITDA increased to $257 million from $252 million, operating cash flow surged to $401 million versus $95 million, and CAFD was $70 million.
2. Growth Pipeline and Operational Performance
Renewables & Storage generation rose 8% year-over-year to 4.827 TWh while flexible generation availability remained at 88.7%. The fleet enhancement program is on schedule for 2026/2027 repowerings, the Mesquite Sky hyperscaler PPA was signed, and the late-stage development pipeline expanded by 20% to 12.7 GW.
3. Capital Allocation and Share Structure
Stockholders approved a simplified share structure to enhance liquidity and broaden the investor base. Clearway reaffirmed its 2026 financial guidance, targets $2.90–$3.10 CAFD per share by 2030 and expects 5–8% annual CAFD growth thereafter, driven in part by co-located digital infrastructure projects.
