Clearway Energy Tops 2025 Guidance with $430m CAFD, Advances 291MW Storage Pipeline
Clearway Energy reported full-year 2025 net loss of $231m and adjusted EBITDA of $1.217bn, with cash available for distribution rising to $430m, hitting the top end of its guidance range. The company advanced its growth pipeline by signing agreements for 291MW storage projects and raised $600m debt plus $50m equity while reaffirming 2026 guidance.
1. 2025 Financial Results
In full-year 2025, Clearway Energy recorded a net loss of $231 million, adjusted EBITDA of $1.217 billion, cash from operating activities of $688 million and cash available for distribution of $430 million, reaching the top end of its original guidance range.
2. Growth and Operational Highlights
The fleet enhancement program remains on schedule with repowerings planned for 2026 and 2027. Sponsor-enabled growth advanced through signed agreements for a 291MW storage portfolio in Colorado and California, receipt of investment offers for the 520MW Royal Slope solar-plus-storage and 650MW Swan Solar projects, and an 11.2GW late-stage pipeline including 2GW of data center power contracts.
3. Capital Raising and Balance Sheet
Since the last earnings call, the company opportunistically raised $600 million of corporate debt and $50 million of equity to fund growth initiatives, strengthen liquidity and support ongoing project development.
4. 2026 Guidance and Long-Term Outlook
Clearway Energy reaffirmed its 2026 financial guidance range and reiterated targets to achieve $2.90–$3.10 of cash available for distribution per share by 2030, with expected CAFD per share growth of 5–8% annually beyond 2030.