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Mar 31
Clearway Energy Q1 2025 Earnings Report
reported first quarter 2025 financial results, including Net Loss of $104 million, Adjusted EBITDA of $252 million, Cash from Operating Activities of $95 million, and Cash Available for Distribution (CAFD) of $77 million.
Key Takeaways
Clearway Energy reported a net loss of $104 million in Q1 2025, an increase from the previous year, primarily due to higher interest expense. However, Adjusted EBITDA and CAFD saw increases, driven by contributions from growth investments. The company remains on track to meet its full-year financial guidance and is pursuing growth through fleet enhancements, repowerings, sponsor-offered dropdowns, and asset-centered M&A.
Reported a Net Loss of $104 million for the first quarter of 2025.
Achieved Adjusted EBITDA of $252 million and Cash Available for Distribution (CAFD) of $77 million in Q1 2025.
Operational performance was strong with increased availability and capacity factors across all segments compared to the prior year.
Reaffirmed full-year 2025 CAFD guidance range of $400 million to $440 million and increased the quarterly dividend by 1.7%.
Clearway Energy
Clearway Energy
Forward Guidance
Clearway Energy is reaffirming its 2025 full-year Cash Available for Distribution (CAFD) guidance range of $400 million to $440 million, based on median renewable energy production estimates and factoring in committed growth investments.
Positive Outlook
- Reaffirming full-year CAFD guidance range of $400 million to $440 million.
- Guidance based on median renewable energy production estimates.
- Guidance factors in completing committed growth investments on currently forecasted schedules.
- Expects the Tuolumne Wind project to contribute approximately $9 million in asset CAFD on a five-year average annual basis beginning January 1, 2026.
- Estimates the Mt. Storm Repowering to contribute incremental asset CAFD of approximately $26-28 million on a five-year average annual basis beginning January 1, 2028.
Challenges Ahead
- Guidance range reflects a potential distribution of outcomes on resource and performance.
- Potential investment in Goat Mountain repowering is subject to negotiation and independent director review.
- Potential investment in San Juan Mesa repowering is subject to negotiation and independent director review.
- Quarterly operating results are impacted by seasonal factors and weather variability.
- Factors driving fluctuations in financial results include debt service payments, timing of maintenance capital expenditures and outages, and timing of distributions from unconsolidated affiliates.