Welcome to our dedicated page for Clearway Energy news (Ticker: CWEN), a resource for investors and traders seeking the latest updates and insights on Clearway Energy stock.
Clearway Energy, Inc. owns contracted power generation assets across the United States, with activity centered on wind, solar, battery storage and conventional dispatchable facilities. News about CWEN commonly covers operating and financial results, Cash Available for Distribution, dividend declarations, fleet repowering work, power purchase agreements and asset acquisitions.
Company updates also track sponsor-enabled growth with Clearway Energy Group LLC, project contract enhancements, debt or equity financing, and governance matters tied to the company’s public share structure, including the completed conversion of Class A common stock into Class C common stock. Clearway reports its business through Flexible Generation, Renewables & Storage and Corporate categories.
Clearway Energy, Inc. (CWEN) reported Q2 2020 financial results with a net income of $76 million and an Adjusted EBITDA of $316 million. A 49% quarterly dividend increase to $0.3125 per share was declared, reaffirming a long-term target annual dividend growth of 5-8%. The emergence of PG&E from bankruptcy enabled the release of $168 million in trapped cash. Strong growth was noted with the acquisition of a 419 MW wind project and a $278 million capital raise through green bonds. The company reaffirmed its full-year Cash Available for Distribution (CAFD) guidance of $310 million.
Clearway Energy, Inc. (NYSE: CWEN, CWEN.A) will announce its Second Quarter 2020 financial results on August 6, 2020. This will be followed by a conference call and webcast at 8:00 a.m. Eastern time. Investors can access the live webcast on the company’s website, where it will also be archived for later viewing. Clearway Energy specializes in energy infrastructure across North America, boasting over 7,000 megawatts of renewable and natural gas power generation, aiming to deliver stable dividend income to its investors.
Clearway Energy Operating, a subsidiary of Clearway Energy, has announced an upsized offering of $250 million in additional 4.750% Senior Notes due 2028. The notes will be issued at 102.0% of par and are expected to close on May 21, 2020. The proceeds will be used for refinancing existing debt, including $45 million of convertible notes due in June 2020, and general corporate purposes. The offering is targeted at qualified institutional buyers and is part of Clearway's strategy to finance renewable energy projects.
Clearway Energy, Inc. (CWEN) reported a net loss of $107 million for Q1 2020, a significant decline from the $47 million loss in Q1 2019. The company achieved Adjusted EBITDA of $225 million, up from $191 million, largely due to improved renewable conditions and the acquisition of Carlsbad. Cash Available for Distribution (CAFD) was $8 million, compared to a negative $13 million in 2019. Despite COVID-19, Clearway maintains its 2020 financial guidance of $310 million in CAFD and declared a quarterly dividend of $0.21 per share. Recent investments include binding agreements for renewable energy projects.