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Mar 31, 2022
Clearway Energy Q1 2022 Earnings Report
Reported first quarter 2022 financial results, sale of Thermal Business closed, and updated 2022 financial guidance.
Key Takeaways
Clearway Energy reported first quarter 2022 financial results, including a Net Loss of $(97) million, Adjusted EBITDA of $260 million, Cash from Operating Activities of $93 million, and Cash Available for Distribution (CAFD) of $(2) million. The company closed the sale of Clearway's Thermal Business on May 1st and is updating its 2022 financial guidance due to the closing of the Thermal transaction.
Closed the sale of Clearway's Thermal Business on May 1st.
Repaid all outstanding borrowings under the revolving credit facility and the Bridge Loan Agreement.
Advanced previously committed growth through the initial funding of the Mililani solar project.
Updating 2022 financial guidance due to the closing of the Thermal transaction.
Clearway Energy
Clearway Energy
Clearway Energy Revenue by Segment
Revenue by Segment
Renewables & Storage Revenue
CapyFin.comCorporate Revenue
CapyFin.com Forward Guidance
The Company is updating its 2022 full year CAFD guidance to $365 million. The Company's 2022 financial guidance factors in the contribution of committed growth investments based on current expected closing timelines and the closing of Thermal disposition on May 1, 2022. With the effects above, the timing of CAFD realization pursuant to 5-year averages, asset CAFD across all segments being materially in-line with current profiles, the Company is reiterating its pro forma CAFD outlook expectations of approximately $385 million.