Clearway Energy (CWEN) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-36002
Entity Registrant Name	Clearway Energy, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-1777204
Entity Address, Address Line One	300 Carnegie Center, Suite 300
Entity Address, City or Town	Princeton
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08540
City Area Code	609
Local Phone Number	608-1525
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001567683
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Common Class A
Class of Stock [Line Items]
Title of 12(b) Security	Class A Common Stock, par value $0.01
Trading Symbol	CWEN.A
Security Exchange Name	NYSE
Entity common stock, shares outstanding		34,599,645
Common Class B
Class of Stock [Line Items]
Entity common stock, shares outstanding		42,738,750
Common Class C
Class of Stock [Line Items]
Title of 12(b) Security	Class C Common Stock, par value $0.01
Trading Symbol	CWEN
Security Exchange Name	NYSE
Entity common stock, shares outstanding		81,944,239
Common Class D
Class of Stock [Line Items]
Entity common stock, shares outstanding		42,738,750

Consolidated Statements of Oper

Consolidated Statements of Operations - Unaudited - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Revenues
Total operating revenues	$ 214	$ 237
Operating Costs and Expenses
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below	128	110
Depreciation, amortization and accretion	124	128
General and administrative	12	10
Transaction and integration costs	2	2
Development costs	1	1
Total operating costs and expenses	267	251
Operating Loss	(53)	(14)
Other Income (Expense)
Equity in earnings of unconsolidated affiliates	4	4
Other income, net	0	1
Loss on debt extinguishment	(2)	(42)
Interest expense	(47)	(45)
Total other expense, net	(45)	(82)
Loss Before Income Taxes	(98)	(96)
Income tax benefit	(1)	(20)
Net Loss	(97)	(76)
Less: Loss attributable to noncontrolling interests and redeemable interests	(65)	(79)
Net (Loss) Income Attributable to Clearway Energy, Inc.	(32)	3
Common Class A
Other Income (Expense)
Net (Loss) Income Attributable to Clearway Energy, Inc.	$ (9)	$ 1
(Losses) Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
Weighted average number of common shares outstanding - basic (in shares)	35	35
Weighted average number of common shares outstanding - diluted (in shares)	35	35
(Losses) earnings per weighted average common share — basic (in dollars per share)	$ (0.28)	$ 0.03
(Losses) earnings per weighted average common share — diluted (in dollars per share)	(0.28)	0.03
Common stock, dividends, per share, cash paid (in dollars per share)	$ 0.3468	$ 0.3240
Common Class C
Other Income (Expense)
Net (Loss) Income Attributable to Clearway Energy, Inc.	$ (23)	$ 2
(Losses) Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
Weighted average number of common shares outstanding - basic (in shares)	82	82
Weighted average number of common shares outstanding - diluted (in shares)	82	82
(Losses) earnings per weighted average common share — basic (in dollars per share)	$ (0.28)	$ 0.03
(Losses) earnings per weighted average common share — diluted (in dollars per share)	(0.28)	0.03
Common stock, dividends, per share, cash paid (in dollars per share)	$ 0.3468	$ 0.3240

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - Unaudited - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Loss	$ (97)	$ (76)
Other Comprehensive Income
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	14	11
Other comprehensive income	14	11
Comprehensive Loss	(83)	(65)
Less: Comprehensive loss attributable to noncontrolling interests and redeemable interests	(57)	(72)
Comprehensive (Loss) Income Attributable to Clearway Energy, Inc.	$ (26)	$ 7

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive (Loss) Income - Unaudited (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Unrealized loss on derivatives income tax expense (benefit)	$ 2	$ 2

Consolidated Balance Sheets - U

Consolidated Balance Sheets - Unaudited - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 140	$ 179
Restricted cash	326	475
Accounts receivable — trade	153	144
Inventory	38	37
Derivative instruments	2	0
Current assets held-for-sale	653	631
Prepayments and other current assets	61	65
Total current assets	1,373	1,531
Property, plant and equipment	7,661	7,650
Other Assets
Equity investments in affiliates	374	381
Intangible assets for power purchase agreements, net	2,379	2,419
Other intangible assets, net	78	80
Derivative instruments	16	6
Deferred income taxes	100	95
Right-of-use assets, net	528	550
Other non-current assets	119	101
Total other assets	3,594	3,632
Total Assets	12,628	12,813
Current Liabilities
Current portion of long-term debt	770	772
Accounts payable — trade	76	74
Accounts payable — affiliates	15	107
Derivative instruments	71	46
Accrued interest expense	40	54
Current liabilities held-for-sale	500	494
Accrued expenses and other current liabilities	55	84
Total current liabilities	1,527	1,631
Other Liabilities
Long-term debt	6,979	6,939
Deferred income taxes	11	13
Derivative instruments	252	196
Long-term lease liabilities	541	561
Other non-current liabilities	179	173
Total other liabilities	7,962	7,882
Total Liabilities	9,489	9,513
Commitments and Contingencies
Stockholders’ Equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued	0	0
Class A, Class B, Class C and Class D common stock, $0.01 par value; 3,000,000,000 shares authorized (Class A 500,000,000, Class B 500,000,000, Class C 1,000,000,000, Class D 1,000,000,000); 201,995,385 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 81,918,240, Class D 42,738,750) at March 31, 2022 and 201,856,166 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 81,779,021, Class D 42,738,750) at December 31, 2021	1	1
Additional paid-in capital	1,826	1,872
Accumulated deficit	(65)	(33)
Accumulated other comprehensive loss	0	(6)
Noncontrolling interest	1,377	1,466
Total Stockholders’ Equity	3,139	3,300
Total Liabilities and Stockholders’ Equity	$ 12,628	$ 12,813

Consolidated Balance Sheets -_2

Consolidated Balance Sheets - Unaudited(Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Par value - preferred stock (in usd per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock issued (in shares)	0	0
Common stock, authorized (in shares)	3,000,000,000	3,000,000,000
Common stock issued (in shares)	201,995,385	201,856,166
Common stock outstanding (in shares)	201,995,385	201,856,166
Common Class A
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock issued (in shares)	34,599,645	34,599,645
Common stock outstanding (in shares)	34,599,645	34,599,645
Common Class B
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock issued (in shares)	42,738,750	42,738,750
Common stock outstanding (in shares)	42,738,750	42,738,750
Common Class C
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock issued (in shares)	81,918,240	81,779,021
Common stock outstanding (in shares)	81,918,240	81,779,021
Common Class D
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock issued (in shares)	42,738,750	42,738,750
Common stock outstanding (in shares)	42,738,750	42,738,750

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - Unaudited - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities
Net Loss	$ (97)	$ (76)
Adjustments to reconcile net loss to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates	(4)	(4)
Distributions from unconsolidated affiliates	11	13
Depreciation, amortization and accretion	124	128
Amortization of financing costs and debt discounts	4	4
Amortization of intangibles	42	32
Loss on debt extinguishment	2	42
Reduction in carrying amount of right-of-use assets	4	2
Changes in deferred income taxes	(1)	(20)
Changes in derivative instruments	82	(27)
Cash used in changes in other working capital
Changes in prepaid and accrued liabilities for tolling agreements	(44)	(44)
Changes in other working capital	(30)	(3)
Net Cash Provided by Operating Activities	93	47
Cash Flows from Investing Activities
Acquisitions, net of cash acquired	0	(111)
Acquisition of Drop Down Assets	(51)	(132)
Capital expenditures	(47)	(58)
Asset purchase from affiliate	0	(21)
Return of investment from unconsolidated affiliates	3	8
Other	3	0
Net Cash Used in Investing Activities	(92)	(314)
Cash Flows from Financing Activities
Contributions from noncontrolling interests, net of distributions	23	229
Payments of dividends and distributions	(70)	(66)
Distributions to CEG of escrowed amounts	(64)	0
Proceeds from the revolving credit facility	80	195
Payments for the revolving credit facility	(20)	(170)
Proceeds from the issuance of long-term debt	194	1,004
Payments of debt issuance costs	(4)	(15)
Payments for long-term debt	(317)	(957)
Other	(6)	13
Net Cash (Used in) Provided by Financing Activities	(184)	233
Reclassification of Cash to Assets Held-for-Sale	(5)	0
Net Decrease in Cash, Cash Equivalents and Restricted Cash	(188)	(34)
Cash, Cash Equivalents and Restricted Cash at beginning of period	654	465
Cash, Cash Equivalents and Restricted Cash at end of period	$ 466	$ 431

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - Unaudited - USD ($) $ in Millions	Total	Mesquite Star	Black Rock Drop Down	Mililani Drop Down	Aqua Acquisition	Rattlesnake Dropdown	CEG	Tax Equity Investors	Preferred Stock	Common Stock	Additional Paid-In Capital	Additional Paid-In CapitalMesquite Star	Additional Paid-In CapitalMililani Drop Down	Additional Paid-In CapitalCEG	Accumulated Deficit	Accumulated Other Comprehensive Loss	Noncontrolling Interest	Noncontrolling InterestMesquite Star	Noncontrolling InterestBlack Rock Drop Down	Noncontrolling InterestMililani Drop Down	Noncontrolling InterestAqua Acquisition	Noncontrolling InterestRattlesnake Dropdown	Noncontrolling InterestCEG	Noncontrolling InterestTax Equity Investors
Balance at beginning of period at Dec. 31, 2020	$ 2,715								$ 0	$ 1	$ 1,922				$ (84)	$ (14)	$ 890
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(78)														3		(81)
Unrealized gain on derivatives, net of tax	11															4	7
Contributions from CEG, non-cash							$ 27																$ 27
Contributions from CEG, cash							103	$ 126															103	$ 126
Agua Caliente acquisition					$ 273																$ 273
Drop Downs						$ (118)																$ (118)
Non-cash adjustments for change in tax basis	2										2
Common stock dividends and distributions to CEG unit holders							(66)							$ (38)									(28)
Balance at end of period at Mar. 31, 2021	2,995								0	1	1,886				(81)	(10)	1,199
Balance at beginning of period at Dec. 31, 2021	3,300								0	1	1,872				(33)	(6)	1,466
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(99)														(32)		(67)
Unrealized gain on derivatives, net of tax	14															6	8
Contributions from CEG, cash								$ 28																$ 28
Drop Downs		$ (8)	$ 1	$ (30)								$ (1)	$ (11)					$ (7)	$ 1	$ (19)
Non-cash adjustments for change in tax basis	8										8
Stock-based compensation	(2)										(2)
Common stock dividends and distributions to CEG unit holders							(70)							$ (40)									(30)
Balance at end of period at Mar. 31, 2022	$ 3,139								$ 0	$ 1	$ 1,826				$ (65)	$ 0	$ 1,377
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders, Cash							$ (3)																$ (3)

Nature of Business

Nature of Business	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business Clearway Energy, Inc., together with its consolidated subsidiaries, or the Company, is a publicly-traded energy infrastructure investor in and owner of modern, sustainable and long-term contracted assets across North America. The Company is indirectly owned by Global Infrastructure Partners, or GIP. GIP is an independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. The Company is sponsored by GIP through GIP’s portfolio company, Clearway Energy Group LLC, or CEG. The Company is one of the largest renewable energy owners in the U.S. with over 5,000 net MW of installed wind and solar generation projects. The Company's over 7,500 net MW of assets also includes approximately 2,500 net MW of environmentally-sound, highly efficient natural gas-fired generation facilities. Through this environmentally-sound, diversified and primarily contracted portfolio, the Company endeavors to provide its investors with stable and growing dividend income. Substantially all of the Company’s generation assets are under long-term contractual arrangements for the output or capacity from these assets. On May 1, 2022, the Company completed the sale of 100% of its interests in the Thermal Business to KKR. For further details of the Thermal Disposition, refer to Note 3, Acquisitions and Dispositions . The Company consolidates the results of Clearway Energy LLC through its controlling interest, with CEG’s interest shown as non-controlling interest in the consolidated financial statements. The holders of the Company’s outstanding shares of Class A and Class C common stock are entitled to dividends as declared. CEG receives its distributions from Clearway Energy LLC through its ownership of Clearway Energy LLC Class B and Class D units. From time to time, CEG may also hold shares of the Company’s Class A and/or Class C common stock. The Company owned 57.68% of the economic interests of Clearway Energy LLC, with CEG owning 42.32% of the economic interests of Clearway Energy LLC as of March 31, 2022. The following table represents the structure of the Company as of March 31, 2022: Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the SEC’s regulations for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The following notes should be read in conjunction with the accounting policies and other disclosures as set forth in the notes to the consolidated financial statements included in the Company’s 2021 Form 10-K. Interim results are not necessarily indicative of results for a full year. In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all material adjustments consisting of normal and recurring accruals necessary to present fairly the Company’s consolidated financial position as of March 31, 2022, and results of operations, comprehensive (loss) income and cash flows for the three months ended March 31, 2022 and 2021.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amounts of net earnings during the reporting periods. Actual results could be different from these estimates. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents include highly liquid investments with an original maturity of three months or less at the time of purchase. Cash and cash equivalents held at project subsidiaries was $95 million and $146 million as of March 31, 2022 and December 31, 2021, respectively. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: March 31, 2022 December 31, 2021 (In millions) Cash and cash equivalents $ 140 $ 179 Restricted cash 326 475 Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 466 $ 654 Restricted cash consists primarily of funds held to satisfy the requirements of certain debt agreements and funds held within the Company’s projects that are restricted in their use. As of March 31, 2022, these restricted funds were comprised of $135 million designated to fund operating expenses, $38 million designated for current debt service payments and $135 million restricted for reserves including debt service, performance obligations and other reserves as well as capital expenditures. The remaining $18 million is held in distributions reserve accounts. In 2020, the members of the partnerships holding the Oahu Solar and Kawailoa Solar projects submitted applications to the state of Hawaii for refundable tax credits based on the cost of construction of the projects. In 2021, the members of the partnerships contributed their respective portions of the tax credits in the amount of $49 million to the Oahu Solar and Kawailoa project companies, which was recorded to restricted cash on the Company’s consolidated balance sheet with an offsetting adjustment to noncontrolling interests. In accordance with the projects’ related agreements, the cash is held in a restricted account and utilized to offset invoiced amounts under the projects’ PPAs. As of March 31, 2022, $23 million of the $49 million has been utilized to offset invoiced amounts under the projects’ PPAs. Accumulated Depreciation and Accumulated Amortization The following table presents the accumulated depreciation included in property, plant and equipment, net, and accumulated amortization included in intangible assets, net, respectively, as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 (In millions) Property, Plant and Equipment Accumulated Depreciation $ 2,623 $ 2,501 Intangible Assets Accumulated Amortization 646 605 Dividends to Class A and Class C common stockholders The following table lists the dividends paid on the Company's Class A and Class C common stock during the three months ended March 31, 2022: First Quarter 2022 Dividends per Class A share $ 0.3468 Dividends per Class C share 0.3468 Dividends on the Class A and Class C common stock are subject to available capital, market conditions, and compliance with associated laws, regulations and other contractual obligations. The Company expects that, based on current circumstances, comparable cash dividends will continue to be paid in the foreseeable future. On May 4, 2022, the Company declared quarterly dividends on its Class A and Class C common stock of $0.3536 per share payable on June 15, 2022 to stockholders of record as of June 1, 2022. Noncontrolling Interests Clearway Energy LLC Distributions to CEG The following table lists distributions paid to CEG during the three months ended March 31, 2022 on Clearway Energy LLC’s Class B and D units: First Quarter 2022 Distributions per Class B Unit $ 0.3468 Distributions per Class D Unit 0.3468 On May 4, 2022, Clearway Energy LLC declared a distribution on its Class B and Class D units of $0.3536 per unit payable on June 15, 2022 to unit holders of record as of June 1, 2022. Revenue Recognition Revenue from Contracts with Customers The Company applies the guidance in ASC 606, Revenue from Contracts with Customers, or Topic 606, when recognizing revenue associated with its contracts with customers. The Company's policies with respect to its various revenue streams are detailed below. In general, the Company applies the invoicing practical expedient to recognize revenue for the revenue streams detailed below, except in circumstances where the invoiced amount does not represent the value transferred to the customer. Thermal Revenues Steam and chilled water revenue is recognized as the Company transfers the product to the customer, based on customer usage as determined by meter readings taken at month-end. Some locations read customer meters throughout the month and recognize estimated revenue for the period between meter read date and month-end. For thermal contracts, the Company’s performance obligation to deliver steam and chilled water is satisfied over time and revenue is recognized based on the invoiced amount. The Thermal Business subsidiaries collect, and remit state and local taxes associated with sales to their customers, as required by governmental authorities. These taxes are presented on a net basis in the consolidated statements of operations. As contracts for steam and chilled water are long-term contracts, the Company has performance obligations under these contracts that have not yet been satisfied. These performance obligations have transaction prices that are both fixed and variable, and that vary based on the contract duration, customer type, inception date and other contract-specific factors. For the fixed price contracts, the Company cannot accurately estimate the amount of its unsatisfied performance obligations as it will vary based on customer usage, which will depend on factors such as weather and customer activity. On May 1, 2022, the Company completed the sale of 100% of its interests in the Thermal Business to KKR. For further details of the Thermal Disposition, refer to Note 3, Acquisitions and Dispositions . Power Purchase Agreements, or PPAs The majority of the Company’s revenues are obtained through PPAs or similar contractual agreements. Energy, capacity and where applicable, renewable attributes, from the majority of the Company’s renewable energy assets and certain conventional energy plants is sold through long-term PPAs and tolling agreements to a single counterparty, which is often a utility or commercial customer. The majority of these PPAs are accounted for as operating leases as the Company retained its historical lease assessments and classification upon adoption of ASC 842, Leases . ASC 842 requires the minimum lease payments received to be amortized over the term of the lease and contingent rentals are recorded when the achievement of the contingency becomes probable. Judgment is required by management in determining the economic life of each generating facility, in evaluating whether certain lease provisions constitute minimum payments or represent contingent rent and other factors in determining whether a contract contains a lease and whether the lease is an operating lease or capital lease. Certain of these leases have no minimum lease payments and all of the rental income under these leases is recorded as contingent rent on an actual basis when the electricity is delivered. Renewable Energy Credits, or RECs Renewable energy credits, or RECs, are usually sold through long-term PPAs or through REC contracts with counterparties. Revenue from the sale of self-generated RECs is recognized when the related energy is generated and simultaneously delivered even in cases where there is a certification lag as it has been deemed to be perfunctory. In a bundled contract to sell energy, capacity and/or self-generated RECs, all performance obligations are deemed to be delivered at the same time and hence, timing of recognition of revenue for all performance obligations is the same and occurs over time. In such cases, it is often unnecessary to allocate transaction price to multiple performance obligations. Disaggregated Revenues The following tables represent the Company’s disaggregation of revenue from contracts with customers along with the reportable segment for each category for the three months ended March 31, 2022 and 2021, respectively: Three months ended March 31, 2022 (In millions) Conventional Generation Renewables Thermal Total Energy revenue (a) $ — $ 195 $ 37 $ 232 Capacity revenue (a) 114 — 14 128 Contract amortization (6) (36) — (42) Other revenue — 14 8 22 Mark-to-market for economic hedges — (126) — (126) Total operating revenues 108 47 59 214 Less: Mark-to-market for economic hedges — 126 — 126 Less: Lease revenue (114) (162) (1) (277) Less: Contract amortization 6 36 — 42 Total revenue from contracts with customers $ — $ 47 $ 58 $ 105 (a) The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 842: (In millions) Conventional Generation Renewables Thermal Total Energy revenue $ — $ 162 $ 1 $ 163 Capacity revenue 114 — — 114 Total $ 114 $ 162 $ 1 $ 277 Three months ended March 31, 2021 (In millions) Conventional Generation Renewables Thermal Total Energy revenue (a) $ 1 $ 126 $ 29 $ 156 Capacity revenue (a) 107 — 13 120 Contract amortization (6) (25) (1) (32) Other revenue — 9 8 17 Mark-to-market for economic hedges — (24) — (24) Total operating revenues 102 86 49 237 Less: Mark-to-market for economic hedges — 24 — 24 Less: Lease revenue (108) (145) (1) (254) Less: Contract amortization 6 25 1 32 Total revenue from contracts with customers $ — $ (10) $ 49 $ 39 (a) The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 842: (In millions) Conventional Generation Renewables Thermal Total Energy revenue $ 1 $ 145 $ 1 $ 147 Capacity revenue 107 — — 107 Total $ 108 $ 145 $ 1 $ 254 Contract Amortization Assets and liabilities recognized from power sales agreements assumed through acquisitions relating to the sale of electric capacity and energy in future periods arising from differences in contract and market prices are amortized to revenue over the term of each underlying contract based on actual generation and/or contracted volumes or on a straight-line basis, where applicable. Contract Balances The following table reflects the contract assets and liabilities included on the Company’s consolidated balance sheets as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 (In millions) Accounts receivable, net - Contracts with customers $ 32 $ 44 Accounts receivable, net - Leases 121 100 Total accounts receivable, net $ 153 $ 144 Recently Adopted Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments provide for optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. These amendments apply only to contracts that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform, which affects certain of the Company’s debt and interest rate swap agreements. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022. As of March 31, 2022, the Company has applied the amendments to all of its eligible contract modifications, where applicable, during the reference rate reform period. Additionally, the Company has not elected any optional expedients provided in the standard.

Acquisition and Dispositions

Acquisition and Dispositions	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition and Dispositions	Acquisitions and Dispositions Mililani I Drop Down — On March 25, 2022, the Company, through its indirect subsidiary, Lighthouse Renewable Holdco LLC, acquired Mililani BL Borrower Holdco LLC, the indirect owner of the Mililani I solar project, a 39 MW solar project with 156 MWh of storage capacity that is currently under construction, located in Oahu, Hawaii, from Clearway Renew LLC, a subsidiary of CEG, for cash consideration of $22 million. Lighthouse Renewable Holdco LLC is a partnership between the Company and a third-party investor. The third-party investor also contributed cash consideration of $14 million utilized to acquire their portion of the acquired entity. Mililani BL Borrower Holdco LLC consolidates, as the direct owner of the primary beneficiary, a tax equity fund, Mililani TE Holdco LLC, which directly holds the Mililani I solar project, as further described in Note 4, Investments Accounted for by the Equity Method and Variable Interest Entities . Mililani I has a 20-year power purchase agreement with an investment-grade utility that commences when the project achieves commercial operations. The Mililani I operations are reflected in the Company’s Renewables segment and the acquisition was funded with existing sources of liquidity. The acquisition was determined to be an asset acquisition and the Company consolidates Mililani I on a prospective basis in its financial statements. The assets and liabilities transferred to the Company relate to interests under common control by GIP and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues . The sum of the cash paid of $22 million and the historical cost of the Company’s net liabilities assumed of $8 million was recorded as an adjustment to CEG’s noncontrolling interest balance. In addition, the Company reflected $15 million of the Company’s purchase price, which was contributed back by CEG to pay down the acquired long-term debt, as distributions to CEG, net of contributions, in the consolidated statement of stockholders’ equity. The following is a summary of assets and liabilities transferred in connection with the acquisition as of March 25, 2022: (In millions) Mililani I Other current and non-current assets $ 2 Property, plant and equipment 118 Right-of-use-assets 19 Total assets acquired 139 Long-term debt (a) 100 Long-term lease liabilities 20 Other current and non-current liabilities 27 Total liabilities assumed 147 Net liabilities assumed $ (8) (a) Includes a $16 million construction loan, $27 million sponsor equity bridge loan and $60 million tax equity bridge loan, offset by $3 million in unamortized debt issuance costs. The sponsor equity bridge loan was repaid at acquisition date utilizing $14 million from the cash equity investor, as well as $15 million of the Company's purchase price, which was contributed back to the Company by CEG, of which $27 million was utilized to pay down the acquired long-term debt and $2 million was utilized to pay associated fees. Also at acquisition date, the tax equity investor contributed $18 million into escrow, which is included in restricted cash on the Company's consolidated balance sheet at March 31, 2022. The tax equity investor will contribute an additional $42 million when the project reaches substantial completion, which will be utilized, along with the $18 million in escrow, to repay the $60 million tax equity bridge loan. The project is expected to achieve commercial operations in the second half of 2022. Thermal Disposition — On May 1, 2022, the Company completed the sale of 100% of its interests in the Thermal Business to KKR for net proceeds of approximately $1.46 billion, inclusive of working capital, which excludes approximately $20 million in transaction expenses that were incurred in connection with the disposition. The Company estimates that the Thermal Disposition will result in a gain of approximately $1.31 billion. Effective with the approval by the Board of Directors and signing of the agreement to sell the Thermal Business on October 22, 2021, the Company concluded that all entities that are included within the Thermal Business will be treated as held for sale on a prospective basis, thus the assets and liabilities were reported as separate held for sale line items on the Company’s consolidated balance sheets as of March 31, 2022 and December 31, 2021. As of March 31, 2022, property, plant and equipment represented 76% and intangible assets represented 9% of assets classified as held for sale while long-term debt represented 83% of liabilities classified as held for sale. As of December 31, 2021, property, plant and equipment represented 78% and intangible assets represented 9% of assets classified as held for sale while long-term debt represented 85% of liabilities classified as held for sale. The Company’s Thermal segment is comprised solely of the Thermal Business's results of operations.

Investments Accounted for by th

Investments Accounted for by the Equity Method and Variable Interest Entities	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments Accounted for by the Equity Method and Variable Interest Entities	Investments Accounted for by the Equity Method and Variable Interest Entities Entities that are Consolidated The Company has a controlling financial interest in certain entities which have been identified as VIEs under ASC 810, Consolidations , or ASC 810. These arrangements are primarily related to tax equity arrangements entered into with third parties in order to monetize certain tax credits associated with wind and solar facilities, as further described under Item 15 — Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities, to the consolidated financial statements included in the Company's 2021 Form 10-K. Summarized financial information for the Company's consolidated VIEs consisted of the following as of March 31, 2022: (In millions) Alta TE Holdco Buckthorn Renewables, LLC DGPV Funds (a) Kawailoa Partnership Langford TE Partnership LLC Lighthouse Renewable Holdco LLC (b) Lighthouse Renewable Holdco 2 LLC (c) Other current and non-current assets $ 53 $ 4 $ 84 $ 39 $ 15 $ 112 $ 67 Property, plant and equipment 325 200 592 133 131 726 374 Intangible assets 209 — 15 — 2 — — Total assets 587 204 691 172 148 838 441 Current and non-current liabilities 38 10 75 96 47 302 132 Total liabilities 38 10 75 96 47 302 132 Noncontrolling interest 18 40 5 50 63 432 236 Net assets less noncontrolling interests $ 531 $ 154 $ 611 $ 26 $ 38 $ 104 $ 73 (a) DGPV Funds is comprised of DGPV Fund 2 LLC, Clearway & EFS Distributed Solar LLC, DGPV Fund 4 LLC, Golden Puma Fund LLC, Renew Solar CS4 Fund LLC and Chestnut Fund LLC. (b ) Lighthouse Renewable Holdco LLC consolidates Mesquite Star Tax Equity Holdco LLC, Black Rock TE Holdco LLC and Mililani TE Holdco LLC, which are also consolidated VIEs. (c) Lighthouse Renewable Holdco 2 LLC consolidates Mesquite Sky TE Holdco LLC, which is also a consolidated VIE. (In millions) Oahu Pinnacle Repowering Partnership LLC Rattlesnake TE Holdco LLC Rosie TargetCo LLC Wildorado TE Holdco Other (a) Other current and non-current assets $ 46 $ 11 $ 15 $ 26 $ 18 $ 17 Property, plant and equipment 170 106 191 248 221 165 Intangible assets — 18 — — — 1 Total assets 216 135 206 274 239 183 Current and non-current liabilities 107 4 16 98 18 57 Total liabilities 107 4 16 98 18 57 Noncontrolling interest 32 81 97 138 121 82 Net assets less noncontrolling interests $ 77 $ 50 $ 93 $ 38 $ 100 $ 44 (a) Other is comprised of Crosswind Transmission, LLC, Hardin Hilltop Wind LLC, Elbow Creek TE Holdco and Spring Canyon TE Holdco projects. The discussion below describes material changes to VIEs during the three months ended March 31, 2022. Lighthouse Renewable Holdco LLC — As described in Note 3, Acquisitions and Dispositions , on March 25, 2022, Lighthouse Renewable Holdco LLC acquired the Class B interests in a partnership, Mililani BL Borrower Holdco LLC, which consolidates, as the direct owner of the primary beneficiary, a tax equity fund, Mililani TE Holdco LLC, that holds the Mililani I solar project. The tax equity investor’s interest is shown as noncontrolling interest and the HLBV method is utilized to allocate the income or losses of Mililani TE Holdco LLC. The third-party investor in Lighthouse Renewable Holdco LLC also acquired and contributed an interest in Mililani BL Borrower Holdco LLC to Lighthouse Renewable Holdco LLC. The Company recorded the related noncontrolling interest at historical carrying amount, with the offset to contributed capital. Entities that are not Consolidated The Company has interests in entities that are considered VIEs under ASC 810, but for which it is not considered the primary beneficiary. The Company accounts for its interests in these entities and entities in which it has a significant investment under the equity method of accounting, as further described under Item 15 — Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities, to the consolidated financial statements included in the Company's 2021 Form 10 -K. The Company’s maximum exposure to loss as of March 31, 2022 is limited to its equity investment in the unconsolidated entities, as further summarized in the table below: Name Economic Interest Investment Balance (In millions) Avenal 50% $ 3 Desert Sunlight 25% 237 Elkhorn Ridge 67% 28 GenConn (a) 50% 84 San Juan Mesa 75% 22 $ 374 ( a ) GenConn is a variable interest entity.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair Value Accounting under ASC 820 ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: • Level 1—quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date. • Level 2—inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. • Level 3—unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date. In accordance with ASC 820, the Company determines the level in the fair value hierarchy within which each fair value measurement in its entirety falls, based on the lowest level input that is significant to the fair value measurement. For cash and cash equivalents, restricted cash, accounts receivable — trade, accounts payable — trade, accounts payable — affiliates and accrued expenses and other current liabilities, the carrying amounts approximate fair value because of the short-term maturity of those instruments and are classified as Level 1 within the fair value hierarchy. The carrying amounts and estimated fair values of the Company’s recorded financial instruments not carried at fair market value or that do not approximate fair value are as follows: As of March 31, 2022 As of December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Long-term debt, including current portion (a) $ 7,822 $ 7,644 $ 7,782 $ 7,997 (a) Excludes net debt issuance costs, which are recorded as a reduction to long-term debt on the Company's consolidated balance sheets. The fair value of the Company's publicly-traded long-term debt is based on quoted market prices and is classified as Level 2 within the fair value hierarchy. The fair value of debt securities, non-publicly traded long-term debt and certain notes receivable of the Company are based on expected future cash flows discounted at market interest rates, or current interest rates for similar instruments with equivalent credit quality and are classified as Level 3 within the fair value hierarchy. The following table presents the level within the fair value hierarchy for long-term debt, including current portion as of March 31, 2022 and December 31, 2021: As of March 31, 2022 As of December 31, 2021 Level 2 Level 3 Level 2 Level 3 (In millions) Long-term debt, including current portion $ 2,041 $ 5,603 $ 2,159 $ 5,838 Recurring Fair Value Measurements The Company records its derivative assets and liabilities at fair market value on its consolidated balance sheet. The following table presents assets and liabilities measured and recorded at fair value on the Company's consolidated balance sheets on a recurring basis and their level within the fair value hierarchy: As of March 31, 2022 As of December 31, 2021 Fair Value (a) Fair Value (a) (In millions) Level 2 Level 3 Level 2 Level 3 Derivative assets: Interest rate contracts $ 18 $ — $ 6 $ — Other financial instruments (b) — 24 — 25 Total assets $ 18 $ 24 $ 6 $ 25 Derivative liabilities: Commodity contracts $ — $ 304 $ — $ 179 Interest rate contracts 19 — 63 — Total liabilities $ 19 $ 304 $ 63 $ 179 (a) There were no derivative assets classified as Level 1 or Level 3 and no liabilities classified as Level 1 as of March 31, 2022 and December 31, 2021. (b) SREC contract. The following table reconciles the beginning and ending balances for instruments that are recognized at fair value in the consolidated financial statements using significant unobservable inputs: Three months ended March 31, 2022 2021 (In millions) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Beginning balance $ (154) $ (15) Total losses for the period included in earnings (111) (24) Additions due to loss of NPNS exception (21) — Settlements 6 — Ending balance $ (280) $ (39) Change in unrealized losses included in earnings for derivatives and other financial instruments held as of March 31, 2022 $ (111) Derivative and Financial Instruments Fair Value Measurements The Company's contracts are non-exchange-traded and valued using prices provided by external sources. The Company uses quoted observable forward prices to value its energy contracts. To the extent that observable forward prices are not available, the quoted prices reflect the average of the forward prices from the prior year, adjusted for inflation. As of March 31, 2022, contracts valued with prices provided by models and other valuation techniques make up 94% of derivative liabilities and 100% of other financial instruments. The Company’s significant positions classified as Level 3 include physical commodity contracts executed in illiquid markets. The significant unobservable inputs used in developing fair value include illiquid power tenors and location pricing, which is derived by extrapolating pricing as a basis to liquid locations. The tenor pricing and basis spread are based on observable market data when available or derived from historic prices and forward market prices from similar observable markets when not available. The following table quantifies the significant unobservable inputs used in developing the fair value of the Company's Level 3 positions as of March 31, 2022: March 31, 2022 Fair Value Input/Range Assets Liabilities Valuation Technique Significant Unobservable Input Low High Weighted Average (In millions) Commodity Contracts $ — $ 304 Discounted Cash Flow Forward Market Price (per MWh) $ 17.33 $ 95.02 $ 34.22 Other Financial Instruments 24 — Discounted Cash Flow Forecast annual generation levels of certain DG solar facilities 80,872 MWh 129,913 MWh 124,783 MWh The following table provides the impact on the fair value measurements to increases/(decreases) in significant unobservable inputs as of March 31, 2022: Significant Observable Input Position Change In Input Impact on Fair Value Measurement Forward Market Price Power Buy Increase/(Decrease) Higher/(Lower) Forward Market Price Power Sell Increase/(Decrease) Lower/(Higher) Forecast Generation Levels Sell Increase/(Decrease) Higher/(Lower) The fair value of each contract is discounted using a risk-free interest rate. In addition, a credit reserve is applied to reflect credit risk, which is, for interest rate swaps, calculated based on credit default swaps using the bilateral method. For commodities, to the extent that the Net Exposure under a specific master agreement is an asset, the Company uses the counterparty’s default swap rate. If the Net Exposure under a specific master agreement is a liability, the Company uses a proxy of its own default swap rate. For interest rate swaps and commodities, the credit reserve is added to the discounted fair value to reflect the exit price that a market participant would be willing to receive to assume the liabilities or that a market participant would be willing to pay for the assets. As of March 31, 2022, the non-performance reserve was a $32 million gain recorded primarily to total operating revenues in the consolidated statement of operations. It is possible that future market prices could vary from those used in recording assets and liabilities and such variations could be material. Concentration of Credit Risk In addition to the credit risk discussion as disclosed under Item 15 — Note 2, Summary of Significant Accounting Policies , to the consolidated financial statements included in the Company’s 2021 Form 10-K, the following item is a discussion of the concentration of credit risk for the Company's financial instruments. Credit risk relates to the risk of loss resulting from non-performance or non-payment by counterparties pursuant to the terms of their contractual obligations. The Company monitors and manages credit risk through credit policies that include: (i) an established credit approval process; (ii) monitoring of counterparties' credit limits on as needed basis; (iii) as applicable, the use of credit mitigation measures such as margin, collateral, prepayment arrangements, or volumetric limits; (iv) the use of payment netting agreements; and (v) the use of master netting agreements that allow for the netting of positive and negative exposures of various contracts associated with a single counterparty. Risks surrounding counterparty performance and credit could ultimately impact the amount and timing of expected cash flows. The Company seeks to mitigate counterparty risk by having a diversified portfolio of counterparties.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities This footnote should be read in conjunction with the complete description under Item 15 — Note 7, Accounting for Derivative Instruments and Hedging Activities , to the consolidated financial statements included in the Company's 2021 Form 10-K. Interest Rate Swaps The Company enters into interest rate swap agreements in order to hedge the variability of expected future cash interest payments. As of March 31, 2022, the Company had interest rate derivative instruments on non-recourse debt extending through 2031, a portion of which were designated as cash flow hedges. Under the interest rate swap agreements, the Company pays a fixed rate and the counterparties to the agreements pay a variable interest rate. Energy-Related Commodities As of March 31, 2022, the Company had energy-related derivative instruments extending through 2033. At March 31, 2022, these contracts were not designated as cash flow or fair value hedges. Volumetric Underlying Derivative Transactions The following table summarizes the net notional volume buy/(sell) of the Company's open derivative transactions broken out by commodity as of March 31, 2022 and December 31, 2021: Total Volume March 31, 2022 December 31, 2021 Commodity Units (In millions) Natural Gas MMBtu 1 2 Power MWh (19) (17) Interest Dollars $ 1,223 $ 1,326 Fair Value of Derivative Instruments The following table summarizes the fair value within the derivative instrument valuation on the consolidated balance sheets: Fair Value Derivative Assets Derivative Liabilities March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 (In millions) Derivatives Designated as Cash Flow Hedges: Interest rate contracts current $ — $ — $ 1 $ 5 Interest rate contracts long-term 6 2 — 3 Total Derivatives Designated as Cash Flow Hedges $ 6 $ 2 $ 1 $ 8 Derivatives Not Designated as Cash Flow Hedges: Interest rate contracts current $ 2 $ — $ 8 $ 17 Interest rate contracts long-term 10 4 10 38 Commodity contracts current — — 62 24 Commodity contracts long-term — — 242 155 Total Derivatives Not Designated as Cash Flow Hedges $ 12 $ 4 $ 322 $ 234 Total Derivatives $ 18 $ 6 $ 323 $ 242 The Company has elected to present derivative assets and liabilities on the balance sheet on a trade-by-trade basis and does not offset amounts at the counterparty level. As of March 31, 2022 and December 31, 2021, there was no outstanding collateral paid or received. The following tables summarize the offsetting of derivatives by counterparty: Gross Amounts Not Offset in the Statement of Financial Position As of March 31, 2022 Gross Amounts of Recognized Assets/Liabilities Derivative Instruments Net Amount Commodity contracts (In millions) Derivative liabilities $ (304) $ — $ (304) Total commodity contracts $ (304) $ — $ (304) Interest rate contracts Derivative assets $ 18 $ (3) $ 15 Derivative liabilities (19) 3 (16) Total interest rate contracts $ (1) $ — $ (1) Total derivative instruments $ (305) $ — $ (305) Gross Amounts Not Offset in the Statement of Financial Position As of December 31, 2021 Gross Amounts of Recognized Assets/Liabilities Derivative Instruments Net Amount Commodity contracts (In millions) Derivative liabilities $ (179) $ — $ (179) Total commodity contracts $ (179) $ — $ (179) Interest rate contracts: Derivative assets $ 6 $ (5) $ 1 Derivative liabilities (63) 5 (58) Total interest rate contracts $ (57) $ — $ (57) Total derivative instruments $ (236) $ — $ (236) Accumulated Other Comprehensive Loss The following table summarizes the effects on the Company’s accumulated OCL balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax: Three months ended March 31, 2022 2021 (In millions) Accumulated OCL beginning balance $ (11) $ (30) Reclassified from accumulated OCL to income due to realization of previously deferred amounts 2 2 Mark-to-market of cash flow hedge accounting contracts 12 9 Accumulated OCL ending balance, net of income tax (expense) benefit of $(2) and $4, respectively 3 (19) Accumulated OCL attributable to noncontrolling interests 3 (9) Accumulated OCL attributable to Clearway Energy, Inc. $ — $ (10) Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $1 $ (3) Amounts reclassified from accumulated OCL into income are recorded to interest expense. Impact of Derivative Instruments on the Consolidated Statements of Operations Mark-to-market gains and losses related to the Company’s derivatives are recorded in the consolidated statements of operations as follows: Three months ended March 31, 2022 2021 (In millions) Interest Rate Contracts (Interest expense) $ 41 $ 47 Commodity Contracts (Mark-to-market for economic hedging activities) (a) (125) (22) (a) Relates to long-term commodity contracts at Elbow Creek Wind Project LLC, or Elbow Creek, Mesquite Star, Mt. Storm, Langford and Mesquite Sky and gains or losses are recognized in operating revenues. During the three months ended March 31, 2022, the commodity contract for Langford, which previously met the NPNS exception, no longer qualified for NPNS treatment and, accordingly, is accounted for as a derivative and marked to market value through operating revenues. A portion of the Company’s derivative commodity contracts relate to its Thermal Business for the purchase of fuel/electricity commodities based on the forecasted usage of the thermal district energy centers. Realized gains and losses on these contracts are reflected in the fuel costs that are permitted to be billed to customers through the related customer contracts or tariffs and, accordingly, no gains or losses are reflected in the consolidated statements of operations for these contracts. See Note 5, Fair Value of Financial Instruments , for a discussion regarding concentration of credit risk.

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt This note should be read in conjunction with the complete description under Item 15 — Note 10, Long-term Debt, to the consolidated financial statements included in the Company's 2021 Form 10-K. The Company’s borrowings, including short-term and long-term portions consisted of the following: (In millions, except rates) March 31, 2022 December 31, 2021 March 31, 2022 interest rate % (a) Letters of Credit Outstanding at March 31, 2022 2028 Senior Notes $ 850 $ 850 4.750 2031 Senior Notes 925 925 3.750 2032 Senior Notes 350 350 3.750 Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023 (b) 305 245 L+1.750 82 Bridge Loan, due 2022 (c) 335 335 S+1.000 — Project-level debt: Agua Caliente Solar LLC, due 2037 680 684 2.395 - 3.633 45 Alta Wind Asset Management LLC, due 2031 13 13 L+2.625 — Alta Wind I-V lease financing arrangements, due 2034 and 2035 756 756 5.696 - 7.015 35 Alta Wind Realty Investments LLC, due 2031 23 24 7.000 — Borrego, due 2024 and 2038 54 54 Various — Buckthorn Solar, due 2025 122 123 L+1.750 22 Carlsbad Energy Holdings LLC, due 2027 136 136 L+1.750 77 Carlsbad Energy Holdings LLC, due 2038 407 407 4.120 — Carlsbad Holdco, due 2038 205 205 4.210 6 CVSR, due 2037 638 652 2.339 - 3.775 — CVSR Holdco Notes, due 2037 160 169 4.680 13 DG-CS Master Borrower LLC, due 2040 434 441 3.510 30 El Segundo Energy Center, due 2023 154 193 L+1.875 - L+2.500 138 Kawailoa Solar Portfolio LLC, due 2026 78 78 L+1.375 14 Laredo Ridge, due 2028 (d) — 72 L+2.125 — Marsh Landing, due 2023 72 84 L+2.375 62 Mililani I, due 2022 and 2024 79 — L+1.000 - L+1.250 3 NIMH Solar, due 2024 175 176 L+2.000 11 Oahu Solar Holdings LLC, due 2026 86 86 L+1.375 10 Rosie Class B LLC, due 2027 78 78 L+1.750 17 Tapestry Wind LLC, due 2031 (d) — 85 L+1.375 — Utah Solar Holdings, due 2036 273 273 3.590 10 Viento Funding II, LLC, due 2023 and 2029 (d) 190 29 S+1.475 34 Walnut Creek, due 2023 62 74 L+1.750 126 WCEP Holdings, LLC, due 2023 29 30 L+3.000 — Other 149 151 Various 191 Subtotal project-level debt: 5,053 5,073 Total debt 7,818 7,778 Less current maturities (770) (772) Less net debt issuance costs (73) (71) Add premiums (e) 4 4 Total long-term debt $ 6,979 $ 6,939 (a) As of March 31, 2022, L+ equals 3 month LIBOR plus x%, except Clearway Energy Operating LLC Revolving Credit Facility, due 2023, Marsh Landing, due 2023, Mililani I, due 2022 and 2024, and Walnut Creek, due 2023, where L+ equals 1 month LIBOR plus x%. (b) Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement. (c) S+ equals SOFR, plus x%. (d) Laredo Ridge, due 2028; Tapestry Wind, LLC, due 2031; and Viento Funding II, LLC, due 2023 project-level debt was repaid on March 16, 2022 totaling $186 million and was replaced with $190 million in new project-level debt under Viento Funding II, LLC that was obtained on March 16, 2022 and is due in 2029, as discussed further below. (e) Premiums relate to the 2028 Senior Notes. The financing arrangements listed above contain certain covenants, including financial covenants that the Company is required to be in compliance with during the term of the respective arrangement. As of March 31, 2022, the Company was in compliance with all of the required covenants. The discussion below describes material changes to or additions of long-term debt for the three months ended March 31, 2022. Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility As of March 31, 2022, the Company had $305 million in outstanding borrowings under the revolving credit facility and $82 million in letters of credit outstanding. During the three months ended March 31, 2022, the Company borrowed $80 million under the revolving credit facility, and subsequently repaid $20 million. On May 3, 2022, the Company repaid the $305 million in outstanding borrowings under the revolving credit facility utilizing the proceeds received from the Thermal Disposition, as further described in Note 3, Acquisitions and Dispositions . Bridge Loan Agreement As of March 31, 2022, the Company had $335 million in outstanding borrowings under the Bridge Loan Agreement. On May 3, 2022, the Company repaid the $335 million in outstanding borrowings under the Bridge Loan Agreement utilizing proceeds received from the Thermal Disposition, as further described in Note 3, Acquisitions and Dispositions . Project - level Debt Viento Funding II, LLC On March 16, 2022, the Company, through its indirect subsidiary, Viento Funding II, LLC, entered into a financing agreement which included the issuance of a $190 million term loan as well as $35 million in letters of credit, supported by the Company’s interests in the Elkhorn Ridge, Laredo Ridge, San Juan Mesa and Taloga wind projects. The term loan bears annual interest at a rate of SOFR plus a spread of 0.10% and an applicable margin, which is 1.35% per annum through the fourth anniversary of the term loan and 1.50% per annum thereafter through the maturity date of March 16, 2029. The proceeds from the term loan were used to pay off the existing debt in the amount of $186 million related to Laredo Ridge, Tapestry Wind LLC and Viento Funding II, LLC and to pay related financing costs. The Company recorded a loss on debt extinguishment of $2 million to expense unamortized debt issuance costs. Mililani I On March 25, 2022, as part of the acquisition of Mililani I, as further described in Note 3, Acquisitions and Dispositions , the Company assumed the project’s financing agreement which included a $16 million construction loan that converts to a term loan upon completion of construction, $60 million tax equity bridge loan and a $27 million sponsor equity bridge loan. The sponsor equity bridge loan was repaid at acquisition date, utilizing $14 million from the cash equity investor, as well as $15 million of the Company’s acquisition price, which was contributed back by CEG, and $2 million was utilized to pay associated fees. The tax equity bridge loan will be repaid with the final proceeds from the tax equity investor that will be received when Mililani I achieves commercial operations, which is expected to occur in the second half of 2022.

(Losses) Earnings Per Share

(Losses) Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
(Losses) Earnings Per Share	(Losses) Earnings Per Share Basic (losses) earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding. Shares issued during the year are weighted for the portion of the year that they were outstanding. Diluted (losses) earnings per share is computed in a manner consistent with that of basic (losses) earnings per share while giving effect to all potentially dilutive common shares that were outstanding during the period. The reconciliation of the Company’s basic and diluted (losses) earnings per share is shown in the following tables: Three months ended March 31, 2022 2021 (In millions, except per share data) (a) Common Class A Common Class C Common Class A Common Class C Basic and diluted (losses) earnings per share attributable to Clearway Energy, Inc. common stockholders Net (loss) income attributable to Clearway Energy, Inc. $ (9) $ (23) $ 1 $ 2 Weighted average number of common shares outstanding — basic and diluted 35 82 35 82 (Losses) earnings per weighted average common share — basic and diluted $ (0.28) $ (0.28) $ 0.03 $ 0.03 -

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company’s segment structure reflects how management currently operates and allocates resources. The Company’s businesses are segregated based on conventional power generation, renewable businesses which consist of solar and wind, and the Thermal Business, which was classified as held for sale as of March 31, 2022. On May 1, 2022, the Company completed the sale of 100% of its interests in the Thermal Business. The Corporate segment reflects the Company’s corporate costs and includes eliminating entries. The Company's chief operating decision maker, its Chief Executive Officer, evaluates the performance of its segments based on operational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA, and CAFD, as well as net income (loss). Three months ended March 31, 2022 (In millions) Conventional Generation Renewables Thermal Corporate (a) Total Operating revenues $ 108 $ 47 $ 59 $ — $ 214 Cost of operations, exclusive of depreciation, amortization and accretion shown separately below 21 68 39 — 128 Depreciation, amortization and accretion 33 91 — — 124 General and administrative — — 1 11 12 Transaction and integration costs — — — 2 2 Development costs — — 1 — 1 Operating income (loss) 54 (112) 18 (13) (53) Equity in earnings of unconsolidated affiliates 1 3 — — 4 Loss on debt extinguishment — (2) — — (2) Interest expense (8) (8) (5) (26) (47) Income (loss) before income taxes 47 (119) 13 (39) (98) Income tax benefit — — — (1) (1) Net Income (Loss) $ 47 $ (119) $ 13 $ (38) $ (97) Total Assets (b) $ 2,361 $ 9,461 $ 653 $ 153 $ 12,628 (a) Includes eliminations. (b) Thermal Business assets were classified as held for sale at March 31, 2022. Three months ended March 31, 2021 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 102 $ 86 $ 49 $ — $ 237 Cost of operations, exclusive of depreciation, amortization and accretion shown separately below 27 52 31 — 110 Depreciation, amortization and accretion 34 87 7 — 128 General and administrative — — 1 9 10 Transaction and integration costs — — — 2 2 Development costs — — 1 — 1 Operating income (loss) 41 (53) 9 (11) (14) Equity in earnings of unconsolidated affiliates 2 2 — — 4 Other income, net 1 — — — 1 Loss on debt extinguishment — (1) — (41) (42) Interest expense (11) (4) (5) (25) (45) Income (loss) before income taxes 33 (56) 4 (77) (96) Income tax benefit — — — (20) (20) Net Income (Loss) $ 33 $ (56) $ 4 $ (57) $ (76)

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Effective Tax Rate The income tax provision consisted of the following amounts: Three months ended March 31, 2022 2021 (In millions, except percentages) Loss before income taxes $ (98) $ (96) Income tax benefit (1) (20) Effective income tax rate 1.0 % 20.8 % For the three months ended March 31, 2022 and 2021, the overall effective tax rate was different than the statutory rate of 21% primarily due to taxable earnings and losses allocated to partners’ interest in Clearway Energy LLC, which includes the effects of applying the HLBV method of accounting for book purposes of certain partnerships.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In addition to the transactions and relationships described elsewhere in the notes to the consolidated financial statements, certain subsidiaries of CEG provide services to the Company and its project entities. Amounts due to CEG subsidiaries are recorded as accounts payable — affiliates and amounts due to the Company from CEG subsidiaries are recorded as accounts receivable — affiliates in the Company's consolidated balance sheets. The disclosures below summarize the Company’s material related party transactions with CEG and its subsidiaries that are included in the Company's operating costs. O&M Services Agreements by and between the Company and Clearway Renewable Operation & Maintenance LLC Various wholly-owned subsidiaries of the Company in the Renewables segment are party to services agreements with Clearway Renewable Operation & Maintenance LLC, or RENOM, a wholly-owned subsidiary of CEG, which provides operation and maintenance, or O&M, services to these subsidiaries. The Company incurred total expenses for these services of $15 million and $13 million for the three months ended March 31, 2022 and 2021, respectively. There was a balance of $9 million due to RENOM as of both March 31, 2022 and December 31, 2021. Administrative Services Agreements by and between the Company and CEG Various wholly-owned subsidiaries of the Company are parties to services agreements with Clearway Asset Services LLC and Clearway Solar Asset Management LLC, two wholly-owned subsidiaries of CEG, which provide various administrative services to the Company's subsidiaries. The Company incurred expenses under these agreements of $3 million for each of the three months ended March 31, 2022 and 2021. There was a balance of $2 million due to CEG as of both March 31, 2022 and December 31, 2021. CEG Master Services Agreements The Company is a party to Master Services Agreements with CEG, or MSAs, pursuant to which CEG and certain of its affiliates or third-party service providers provide certain services to the Company, including operational and administrative services, which include human resources, information systems, external affairs, accounting, procurement and risk management services, and the Company provides certain services to CEG, including accounting, internal audit, tax and treasury services, in exchange for the payment of fees in respect of such services. The Company incurred net expenses of $1 million under these agreements for each of the three months ended March 31, 2022 and 2021.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies This note should be read in conjunction with the complete description under Item 15 — Note 16, Commitments and Contingencies , to the consolidated financial statements included in the Company's 2021 Form 10-K. The Company's material legal proceedings are described below. The Company believes that it has valid defenses to these legal proceedings and intends to defend them vigorously. The Company records reserves for estimated losses from contingencies when information available indicates that a loss is probable and the amount of the loss, or range of loss, can be reasonably estimated. As applicable, the Company has established an adequate reserve for the matters discussed below. In addition, legal costs are expensed as incurred. Management assesses such matters based on current information and makes a judgment concerning its potential outcome, considering the nature of the claim, the amount and nature of damages sought, and the probability of success. The Company is unable to predict the outcome of the legal proceedings below or reasonably estimate the scope or amount of any associated costs and potential liabilities. As additional information becomes available, management adjusts its assessment and estimates of such contingencies accordingly. Because litigation is subject to inherent uncertainties and unfavorable rulings or developments, it is possible that the ultimate resolution of the Company's liabilities and contingencies could be at amounts that are different from its currently recorded reserves and that such difference could be material. In addition to the legal proceedings noted below, the Company and its subsidiaries are party to other litigation or legal proceedings arising in the ordinary course of business. In management's opinion, the disposition of these ordinary course matters will not materially adversely affect the Company's consolidated financial position, results of operations, or cash flows. Buckthorn Solar Litigation On October 8, 2019, the City of Georgetown, Texas, or Georgetown, filed a petition in the District Court of Williamson County, Texas naming Buckthorn Westex, LLC, the Company’s subsidiary that owns the Buckthorn Westex solar project, as the defendant, alleging fraud by nondisclosure and breach of contract in connection with the project and the PPA, and seeking (i) rescission and/or cancellation of the PPA, (ii) declaratory judgment that the alleged breaches constitute an event of default under the PPA entitling Georgetown to terminate, and (iii) recovery of all damages, costs of court, and attorneys’ fees. On November 15, 2019, Buckthorn Westex filed an original answer and counterclaims (i) denying Georgetown’s claims, (ii) alleging Georgetown has breached its contracts with Buckthorn Westex by failing to pay amounts due, and (iii) seeking relief in the form of (x) declaratory judgment that Georgetown’s alleged failure to pay amounts due constitute breaches of and an event of default under the PPA and that Buckthorn did not commit any events of default under the PPA, (y) recovery of costs, expenses, interest, and attorneys’ fees, and (z) such other relief to which it is entitled at law or in equity. The current deadline to complete discovery is June 24, 2022, and a bench trial is expected to be scheduled for September or October 2022. Buckthorn Westex believes the allegations of Georgetown are meritless, and Buckthorn Westex is vigorously defending its rights under the PPA.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the SEC’s regulations for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The following notes should be read in conjunction with the accounting policies and other disclosures as set forth in the notes to the consolidated financial statements included in the Company’s 2021 Form 10-K. Interim results are not necessarily indicative of results for a full year. In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all material adjustments consisting of normal and recurring accruals necessary to present fairly the Company’s consolidated financial position as of March 31, 2022, and results of operations, comprehensive (loss) income and cash flows for the three months ended March 31, 2022 and 2021.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amounts of net earnings during the reporting periods. Actual results could be different from these estimates.
Revenue Recognition and Contract Amortization	Revenue Recognition Revenue from Contracts with Customers The Company applies the guidance in ASC 606, Revenue from Contracts with Customers, or Topic 606, when recognizing revenue associated with its contracts with customers. The Company's policies with respect to its various revenue streams are detailed below. In general, the Company applies the invoicing practical expedient to recognize revenue for the revenue streams detailed below, except in circumstances where the invoiced amount does not represent the value transferred to the customer. Thermal Revenues Steam and chilled water revenue is recognized as the Company transfers the product to the customer, based on customer usage as determined by meter readings taken at month-end. Some locations read customer meters throughout the month and recognize estimated revenue for the period between meter read date and month-end. For thermal contracts, the Company’s performance obligation to deliver steam and chilled water is satisfied over time and revenue is recognized based on the invoiced amount. The Thermal Business subsidiaries collect, and remit state and local taxes associated with sales to their customers, as required by governmental authorities. These taxes are presented on a net basis in the consolidated statements of operations. As contracts for steam and chilled water are long-term contracts, the Company has performance obligations under these contracts that have not yet been satisfied. These performance obligations have transaction prices that are both fixed and variable, and that vary based on the contract duration, customer type, inception date and other contract-specific factors. For the fixed price contracts, the Company cannot accurately estimate the amount of its unsatisfied performance obligations as it will vary based on customer usage, which will depend on factors such as weather and customer activity. On May 1, 2022, the Company completed the sale of 100% of its interests in the Thermal Business to KKR. For further details of the Thermal Disposition, refer to Note 3, Acquisitions and Dispositions . Power Purchase Agreements, or PPAs The majority of the Company’s revenues are obtained through PPAs or similar contractual agreements. Energy, capacity and where applicable, renewable attributes, from the majority of the Company’s renewable energy assets and certain conventional energy plants is sold through long-term PPAs and tolling agreements to a single counterparty, which is often a utility or commercial customer. The majority of these PPAs are accounted for as operating leases as the Company retained its historical lease assessments and classification upon adoption of ASC 842, Leases . ASC 842 requires the minimum lease payments received to be amortized over the term of the lease and contingent rentals are recorded when the achievement of the contingency becomes probable. Judgment is required by management in determining the economic life of each generating facility, in evaluating whether certain lease provisions constitute minimum payments or represent contingent rent and other factors in determining whether a contract contains a lease and whether the lease is an operating lease or capital lease. Certain of these leases have no minimum lease payments and all of the rental income under these leases is recorded as contingent rent on an actual basis when the electricity is delivered. Renewable Energy Credits, or RECs Renewable energy credits, or RECs, are usually sold through long-term PPAs or through REC contracts with counterparties. Revenue from the sale of self-generated RECs is recognized when the related energy is generated and simultaneously delivered even in cases where there is a certification lag as it has been deemed to be perfunctory. Contract Amortization Assets and liabilities recognized from power sales agreements assumed through acquisitions relating to the sale of electric capacity and energy in future periods arising from differences in contract and market prices are amortized to revenue over the term of each underlying contract based on actual generation and/or contracted volumes or on a straight-line basis, where applicable.
Recently Adopted Accounting Policies	Recently Adopted Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments provide for optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. These amendments apply only to contracts that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform, which affects certain of the Company’s debt and interest rate swap agreements. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022. As of March 31, 2022, the Company has applied the amendments to all of its eligible contract modifications, where applicable, during the reference rate reform period. Additionally, the Company has not elected any optional expedients provided in the standard.

Nature of Business (Tables)

Nature of Business (Tables)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Structure	The following table represents the structure of the Company as of March 31, 2022:

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: March 31, 2022 December 31, 2021 (In millions) Cash and cash equivalents $ 140 $ 179 Restricted cash 326 475 Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 466 $ 654
Schedule of Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: March 31, 2022 December 31, 2021 (In millions) Cash and cash equivalents $ 140 $ 179 Restricted cash 326 475 Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 466 $ 654
Schedule of Accumulated Amortization and Depreciation	The following table presents the accumulated depreciation included in property, plant and equipment, net, and accumulated amortization included in intangible assets, net, respectively, as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 (In millions) Property, Plant and Equipment Accumulated Depreciation $ 2,623 $ 2,501 Intangible Assets Accumulated Amortization 646 605
Dividends Declared	The following table lists the dividends paid on the Company's Class A and Class C common stock during the three months ended March 31, 2022: First Quarter 2022 Dividends per Class A share $ 0.3468 Dividends per Class C share 0.3468
Distributions Made to Limited Liability Company (LLC) Member, by Distribution	The following table lists distributions paid to CEG during the three months ended March 31, 2022 on Clearway Energy LLC’s Class B and D units: First Quarter 2022 Distributions per Class B Unit $ 0.3468 Distributions per Class D Unit 0.3468
Disaggregation of Revenue	The following tables represent the Company’s disaggregation of revenue from contracts with customers along with the reportable segment for each category for the three months ended March 31, 2022 and 2021, respectively: Three months ended March 31, 2022 (In millions) Conventional Generation Renewables Thermal Total Energy revenue (a) $ — $ 195 $ 37 $ 232 Capacity revenue (a) 114 — 14 128 Contract amortization (6) (36) — (42) Other revenue — 14 8 22 Mark-to-market for economic hedges — (126) — (126) Total operating revenues 108 47 59 214 Less: Mark-to-market for economic hedges — 126 — 126 Less: Lease revenue (114) (162) (1) (277) Less: Contract amortization 6 36 — 42 Total revenue from contracts with customers $ — $ 47 $ 58 $ 105 (a) The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 842: (In millions) Conventional Generation Renewables Thermal Total Energy revenue $ — $ 162 $ 1 $ 163 Capacity revenue 114 — — 114 Total $ 114 $ 162 $ 1 $ 277 Three months ended March 31, 2021 (In millions) Conventional Generation Renewables Thermal Total Energy revenue (a) $ 1 $ 126 $ 29 $ 156 Capacity revenue (a) 107 — 13 120 Contract amortization (6) (25) (1) (32) Other revenue — 9 8 17 Mark-to-market for economic hedges — (24) — (24) Total operating revenues 102 86 49 237 Less: Mark-to-market for economic hedges — 24 — 24 Less: Lease revenue (108) (145) (1) (254) Less: Contract amortization 6 25 1 32 Total revenue from contracts with customers $ — $ (10) $ 49 $ 39 (a) The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 842: (In millions) Conventional Generation Renewables Thermal Total Energy revenue $ 1 $ 145 $ 1 $ 147 Capacity revenue 107 — — 107 Total $ 108 $ 145 $ 1 $ 254
Contract with Customer, Asset and Liability	The following table reflects the contract assets and liabilities included on the Company’s consolidated balance sheets as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 (In millions) Accounts receivable, net - Contracts with customers $ 32 $ 44 Accounts receivable, net - Leases 121 100 Total accounts receivable, net $ 153 $ 144

Acquisition and Dispositions (T

Acquisition and Dispositions (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Asset Acquisition	The following is a summary of assets and liabilities transferred in connection with the acquisition as of March 25, 2022: (In millions) Mililani I Other current and non-current assets $ 2 Property, plant and equipment 118 Right-of-use-assets 19 Total assets acquired 139 Long-term debt (a) 100 Long-term lease liabilities 20 Other current and non-current liabilities 27 Total liabilities assumed 147 Net liabilities assumed $ (8) (a) Includes a $16 million construction loan, $27 million sponsor equity bridge loan and $60 million tax equity bridge loan, offset by $3 million in unamortized debt issuance costs. The sponsor equity bridge loan was repaid at acquisition date utilizing $14 million from the cash equity investor, as well as $15 million of the Company's purchase price, which was contributed back to the Company by CEG, of which $27 million was utilized to pay down the acquired long-term debt and $2 million was utilized to pay associated fees. Also at acquisition date, the tax equity investor contributed $18 million into escrow, which is included in restricted cash on the Company's consolidated balance sheet at March 31, 2022. The tax equity investor will contribute an additional $42 million when the project reaches substantial completion, which will be utilized, along with the $18 million in escrow, to repay the $60 million tax equity bridge loan. The project is expected to achieve commercial operations in the second half of 2022.

Investments Accounted for by _2

Investments Accounted for by the Equity Method and Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Variable Interest Entities	Summarized financial information for the Company's consolidated VIEs consisted of the following as of March 31, 2022: (In millions) Alta TE Holdco Buckthorn Renewables, LLC DGPV Funds (a) Kawailoa Partnership Langford TE Partnership LLC Lighthouse Renewable Holdco LLC (b) Lighthouse Renewable Holdco 2 LLC (c) Other current and non-current assets $ 53 $ 4 $ 84 $ 39 $ 15 $ 112 $ 67 Property, plant and equipment 325 200 592 133 131 726 374 Intangible assets 209 — 15 — 2 — — Total assets 587 204 691 172 148 838 441 Current and non-current liabilities 38 10 75 96 47 302 132 Total liabilities 38 10 75 96 47 302 132 Noncontrolling interest 18 40 5 50 63 432 236 Net assets less noncontrolling interests $ 531 $ 154 $ 611 $ 26 $ 38 $ 104 $ 73 (a) DGPV Funds is comprised of DGPV Fund 2 LLC, Clearway & EFS Distributed Solar LLC, DGPV Fund 4 LLC, Golden Puma Fund LLC, Renew Solar CS4 Fund LLC and Chestnut Fund LLC. (b ) Lighthouse Renewable Holdco LLC consolidates Mesquite Star Tax Equity Holdco LLC, Black Rock TE Holdco LLC and Mililani TE Holdco LLC, which are also consolidated VIEs. (c) Lighthouse Renewable Holdco 2 LLC consolidates Mesquite Sky TE Holdco LLC, which is also a consolidated VIE. (In millions) Oahu Pinnacle Repowering Partnership LLC Rattlesnake TE Holdco LLC Rosie TargetCo LLC Wildorado TE Holdco Other (a) Other current and non-current assets $ 46 $ 11 $ 15 $ 26 $ 18 $ 17 Property, plant and equipment 170 106 191 248 221 165 Intangible assets — 18 — — — 1 Total assets 216 135 206 274 239 183 Current and non-current liabilities 107 4 16 98 18 57 Total liabilities 107 4 16 98 18 57 Noncontrolling interest 32 81 97 138 121 82 Net assets less noncontrolling interests $ 77 $ 50 $ 93 $ 38 $ 100 $ 44 (a) Other is comprised of Crosswind Transmission, LLC, Hardin Hilltop Wind LLC, Elbow Creek TE Holdco and Spring Canyon TE Holdco projects.
Schedule of Maximum Loss Exposure in Equity Method Investments	The Company’s maximum exposure to loss as of March 31, 2022 is limited to its equity investment in the unconsolidated entities, as further summarized in the table below: Name Economic Interest Investment Balance (In millions) Avenal 50% $ 3 Desert Sunlight 25% 237 Elkhorn Ridge 67% 28 GenConn (a) 50% 84 San Juan Mesa 75% 22 $ 374 ( a ) GenConn is a variable interest entity.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Estimated Carrying Values and Fair Values	The carrying amounts and estimated fair values of the Company’s recorded financial instruments not carried at fair market value or that do not approximate fair value are as follows: As of March 31, 2022 As of December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Long-term debt, including current portion (a) $ 7,822 $ 7,644 $ 7,782 $ 7,997 (a) Excludes net debt issuance costs, which are recorded as a reduction to long-term debt on the Company's consolidated balance sheets.
Fair Value Option, Disclosures	The following table presents the level within the fair value hierarchy for long-term debt, including current portion as of March 31, 2022 and December 31, 2021: As of March 31, 2022 As of December 31, 2021 Level 2 Level 3 Level 2 Level 3 (In millions) Long-term debt, including current portion $ 2,041 $ 5,603 $ 2,159 $ 5,838
Schedule of Fair Value, Assets and Liabilities	The following table presents assets and liabilities measured and recorded at fair value on the Company's consolidated balance sheets on a recurring basis and their level within the fair value hierarchy: As of March 31, 2022 As of December 31, 2021 Fair Value (a) Fair Value (a) (In millions) Level 2 Level 3 Level 2 Level 3 Derivative assets: Interest rate contracts $ 18 $ — $ 6 $ — Other financial instruments (b) — 24 — 25 Total assets $ 18 $ 24 $ 6 $ 25 Derivative liabilities: Commodity contracts $ — $ 304 $ — $ 179 Interest rate contracts 19 — 63 — Total liabilities $ 19 $ 304 $ 63 $ 179 (a) There were no derivative assets classified as Level 1 or Level 3 and no liabilities classified as Level 1 as of March 31, 2022 and December 31, 2021. (b) SREC contract. The following table reconciles the beginning and ending balances for instruments that are recognized at fair value in the consolidated financial statements using significant unobservable inputs: Three months ended March 31, 2022 2021 (In millions) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Beginning balance $ (154) $ (15) Total losses for the period included in earnings (111) (24) Additions due to loss of NPNS exception (21) — Settlements 6 — Ending balance $ (280) $ (39) Change in unrealized losses included in earnings for derivatives and other financial instruments held as of March 31, 2022 $ (111)
Fair Value Measurement Inputs and Valuation Techniques	The following table quantifies the significant unobservable inputs used in developing the fair value of the Company's Level 3 positions as of March 31, 2022: March 31, 2022 Fair Value Input/Range Assets Liabilities Valuation Technique Significant Unobservable Input Low High Weighted Average (In millions) Commodity Contracts $ — $ 304 Discounted Cash Flow Forward Market Price (per MWh) $ 17.33 $ 95.02 $ 34.22 Other Financial Instruments 24 — Discounted Cash Flow Forecast annual generation levels of certain DG solar facilities 80,872 MWh 129,913 MWh 124,783 MWh The following table provides the impact on the fair value measurements to increases/(decreases) in significant unobservable inputs as of March 31, 2022: Significant Observable Input Position Change In Input Impact on Fair Value Measurement Forward Market Price Power Buy Increase/(Decrease) Higher/(Lower) Forward Market Price Power Sell Increase/(Decrease) Lower/(Higher) Forecast Generation Levels Sell Increase/(Decrease) Higher/(Lower)

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net notional volume buy/(sell) of NRG Yield's open derivative transactions broken out by commodity	The following table summarizes the net notional volume buy/(sell) of the Company's open derivative transactions broken out by commodity as of March 31, 2022 and December 31, 2021: Total Volume March 31, 2022 December 31, 2021 Commodity Units (In millions) Natural Gas MMBtu 1 2 Power MWh (19) (17) Interest Dollars $ 1,223 $ 1,326
Fair value within the derivative instrument valuation on the balance sheets	The following table summarizes the fair value within the derivative instrument valuation on the consolidated balance sheets: Fair Value Derivative Assets Derivative Liabilities March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 (In millions) Derivatives Designated as Cash Flow Hedges: Interest rate contracts current $ — $ — $ 1 $ 5 Interest rate contracts long-term 6 2 — 3 Total Derivatives Designated as Cash Flow Hedges $ 6 $ 2 $ 1 $ 8 Derivatives Not Designated as Cash Flow Hedges: Interest rate contracts current $ 2 $ — $ 8 $ 17 Interest rate contracts long-term 10 4 10 38 Commodity contracts current — — 62 24 Commodity contracts long-term — — 242 155 Total Derivatives Not Designated as Cash Flow Hedges $ 12 $ 4 $ 322 $ 234 Total Derivatives $ 18 $ 6 $ 323 $ 242
Offsetting of derivatives by counterparty master agreement level and collateral received or paid	The following tables summarize the offsetting of derivatives by counterparty: Gross Amounts Not Offset in the Statement of Financial Position As of March 31, 2022 Gross Amounts of Recognized Assets/Liabilities Derivative Instruments Net Amount Commodity contracts (In millions) Derivative liabilities $ (304) $ — $ (304) Total commodity contracts $ (304) $ — $ (304) Interest rate contracts Derivative assets $ 18 $ (3) $ 15 Derivative liabilities (19) 3 (16) Total interest rate contracts $ (1) $ — $ (1) Total derivative instruments $ (305) $ — $ (305) Gross Amounts Not Offset in the Statement of Financial Position As of December 31, 2021 Gross Amounts of Recognized Assets/Liabilities Derivative Instruments Net Amount Commodity contracts (In millions) Derivative liabilities $ (179) $ — $ (179) Total commodity contracts $ (179) $ — $ (179) Interest rate contracts: Derivative assets $ 6 $ (5) $ 1 Derivative liabilities (63) 5 (58) Total interest rate contracts $ (57) $ — $ (57) Total derivative instruments $ (236) $ — $ (236)
Effects of NRG Yield's accumulated OCI balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax	The following table summarizes the effects on the Company’s accumulated OCL balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax: Three months ended March 31, 2022 2021 (In millions) Accumulated OCL beginning balance $ (11) $ (30) Reclassified from accumulated OCL to income due to realization of previously deferred amounts 2 2 Mark-to-market of cash flow hedge accounting contracts 12 9 Accumulated OCL ending balance, net of income tax (expense) benefit of $(2) and $4, respectively 3 (19) Accumulated OCL attributable to noncontrolling interests 3 (9) Accumulated OCL attributable to Clearway Energy, Inc. $ — $ (10) Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $1 $ (3)
Derivative gains and losses	Mark-to-market gains and losses related to the Company’s derivatives are recorded in the consolidated statements of operations as follows: Three months ended March 31, 2022 2021 (In millions) Interest Rate Contracts (Interest expense) $ 41 $ 47 Commodity Contracts (Mark-to-market for economic hedging activities) (a) (125) (22) (a) Relates to long-term commodity contracts at Elbow Creek Wind Project LLC, or Elbow Creek, Mesquite Star, Mt. Storm, Langford and Mesquite Sky and gains or losses are recognized in operating revenues. During the three months ended March 31, 2022, the commodity contract for Langford, which previously met the NPNS exception, no longer qualified for NPNS treatment and, accordingly, is accounted for as a derivative and marked to market value through operating revenues.

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of long-term debt	isted of the following: (In millions, except rates) March 31, 2022 December 31, 2021 March 31, 2022 interest rate % (a) Letters of Credit Outstanding at March 31, 2022 2028 Senior Notes $ 850 $ 850 4.750 2031 Senior Notes 925 925 3.750 2032 Senior Notes 350 350 3.750 Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023 (b) 305 245 L+1.750 82 Bridge Loan, due 2022 (c) 335 335 S+1.000 — Project-level debt: Agua Caliente Solar LLC, due 2037 680 684 2.395 - 3.633 45 Alta Wind Asset Management LLC, due 2031 13 13 L+2.625 — Alta Wind I-V lease financing arrangements, due 2034 and 2035 756 756 5.696 - 7.015 35 Alta Wind Realty Investments LLC, due 2031 23 24 7.000 — Borrego, due 2024 and 2038 54 54 Various — Buckthorn Solar, due 2025 122 123 L+1.750 22 Carlsbad Energy Holdings LLC, due 2027 136 136 L+1.750 77 Carlsbad Energy Holdings LLC, due 2038 407 407 4.120 — Carlsbad Holdco, due 2038 205 205 4.210 6 CVSR, due 2037 638 652 2.339 - 3.775 — CVSR Holdco Notes, due 2037 160 169 4.680 13 DG-CS Master Borrower LLC, due 2040 434 441 3.510 30 El Segundo Energy Center, due 2023 154 193 L+1.875 - L+2.500 138 Kawailoa Solar Portfolio LLC, due 2026 78 78 L+1.375 14 Laredo Ridge, due 2028 (d) — 72 L+2.125 — Marsh Landing, due 2023 72 84 L+2.375 62 Mililani I, due 2022 and 2024 79 — L+1.000 - L+1.250 3 NIMH Solar, due 2024 175 176 L+2.000 11 Oahu Solar Holdings LLC, due 2026 86 86 L+1.375 10 Rosie Class B LLC, due 2027 78 78 L+1.750 17 Tapestry Wind LLC, due 2031 (d) — 85 L+1.375 — Utah Solar Holdings, due 2036 273 273 3.590 10 Viento Funding II, LLC, due 2023 and 2029 (d) 190 29 S+1.475 34 Walnut Creek, due 2023 62 74 L+1.750 126 WCEP Holdings, LLC, due 2023 29 30 L+3.000 — Other 149 151 Various 191 Subtotal project-level debt: 5,053 5,073 Total debt 7,818 7,778 Less current maturities (770) (772) Less net debt issuance costs (73) (71) Add premiums (e) 4 4 Total long-term debt $ 6,979 $ 6,939 (a) As of March 31, 2022, L+ equals 3 month LIBOR plus x%, except Clearway Energy Operating LLC Revolving Credit Facility, due 2023, Marsh Landing, due 2023, Mililani I, due 2022 and 2024, and Walnut Creek, due 2023, where L+ equals 1 month LIBOR plus x%. (b) Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement. (c) S+ equals SOFR, plus x%. (d) Laredo Ridge, due 2028; Tapestry Wind, LLC, due 2031; and Viento Funding II, LLC, due 2023 project-level debt was repaid on March 16, 2022 totaling $186 million and was replaced with $190 million in new project-level debt under Viento Funding II, LLC that was obtained on March 16, 2022 and is due in 2029, as discussed further below. (e) Premiums relate to the 2028 Senior Notes.

(Losses) Earnings Per Share (Ta

(Losses) Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic	The reconciliation of the Company’s basic and diluted (losses) earnings per share is shown in the following tables: Three months ended March 31, 2022 2021 (In millions, except per share data) (a) Common Class A Common Class C Common Class A Common Class C Basic and diluted (losses) earnings per share attributable to Clearway Energy, Inc. common stockholders Net (loss) income attributable to Clearway Energy, Inc. $ (9) $ (23) $ 1 $ 2 Weighted average number of common shares outstanding — basic and diluted 35 82 35 82 (Losses) earnings per weighted average common share — basic and diluted $ (0.28) $ (0.28) $ 0.03 $ 0.03 -
Schedule of Earnings Per Share, Diluted	The reconciliation of the Company’s basic and diluted (losses) earnings per share is shown in the following tables: Three months ended March 31, 2022 2021 (In millions, except per share data) (a) Common Class A Common Class C Common Class A Common Class C Basic and diluted (losses) earnings per share attributable to Clearway Energy, Inc. common stockholders Net (loss) income attributable to Clearway Energy, Inc. $ (9) $ (23) $ 1 $ 2 Weighted average number of common shares outstanding — basic and diluted 35 82 35 82 (Losses) earnings per weighted average common share — basic and diluted $ (0.28) $ (0.28) $ 0.03 $ 0.03 -

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three months ended March 31, 2022 (In millions) Conventional Generation Renewables Thermal Corporate (a) Total Operating revenues $ 108 $ 47 $ 59 $ — $ 214 Cost of operations, exclusive of depreciation, amortization and accretion shown separately below 21 68 39 — 128 Depreciation, amortization and accretion 33 91 — — 124 General and administrative — — 1 11 12 Transaction and integration costs — — — 2 2 Development costs — — 1 — 1 Operating income (loss) 54 (112) 18 (13) (53) Equity in earnings of unconsolidated affiliates 1 3 — — 4 Loss on debt extinguishment — (2) — — (2) Interest expense (8) (8) (5) (26) (47) Income (loss) before income taxes 47 (119) 13 (39) (98) Income tax benefit — — — (1) (1) Net Income (Loss) $ 47 $ (119) $ 13 $ (38) $ (97) Total Assets (b) $ 2,361 $ 9,461 $ 653 $ 153 $ 12,628 (a) Includes eliminations. (b) Thermal Business assets were classified as held for sale at March 31, 2022. Three months ended March 31, 2021 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 102 $ 86 $ 49 $ — $ 237 Cost of operations, exclusive of depreciation, amortization and accretion shown separately below 27 52 31 — 110 Depreciation, amortization and accretion 34 87 7 — 128 General and administrative — — 1 9 10 Transaction and integration costs — — — 2 2 Development costs — — 1 — 1 Operating income (loss) 41 (53) 9 (11) (14) Equity in earnings of unconsolidated affiliates 2 2 — — 4 Other income, net 1 — — — 1 Loss on debt extinguishment — (1) — (41) (42) Interest expense (11) (4) (5) (25) (45) Income (loss) before income taxes 33 (56) 4 (77) (96) Income tax benefit — — — (20) (20) Net Income (Loss) $ 33 $ (56) $ 4 $ (57) $ (76)

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Reconciliation of the U.S. federal statutory rate to the Company's effective rate	The income tax provision consisted of the following amounts: Three months ended March 31, 2022 2021 (In millions, except percentages) Loss before income taxes $ (98) $ (96) Income tax benefit (1) (20) Effective income tax rate 1.0 % 20.8 %

Nature of Business (Details)

Nature of Business (Details) - MW	3 Months Ended
	Mar. 31, 2022	May 01, 2022
Nature of Business [Line Items]
Power generation capacity, megawatts (over)	7,500
Discontinued Operations, Disposed of by Sale | Thermal | Subsequent Event
Nature of Business [Line Items]
Percentage of assets ownership sold		100.00%
Conventional Generation, Utility-Scale Solar, Distributed Solar, and Wind
Nature of Business [Line Items]
Power generation capacity, megawatts (over)	5,000
Generational Facilities and District Energy Systems
Nature of Business [Line Items]
Power generation capacity, megawatts (over)	2,500
Clearway Energy LLC | Clearway Energy, Inc.
Nature of Business [Line Items]
Ownership interest (as a percentage)	57.68%
CEG | Clearway Energy LLC
Nature of Business [Line Items]
Ownership interest (as a percentage)	42.32%
CEG | Clearway Energy, Inc.
Nature of Business [Line Items]
Voting Interest (as a percentage)	54.93%
Public Shareholders | Clearway Energy, Inc.
Nature of Business [Line Items]
Voting Interest (as a percentage)	45.07%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, held at project subsidiaries	$ 95	$ 146
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	140	179
Restricted cash	326	475
Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	466	654	$ 431	$ 465
State of Hawaii | Prepayments and other current assets
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Refundable tax credit receivable	49	$ 49
Amount of restricted funds used to offset amounts under the PPAs	23
Long Term Debt Current
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Restricted cash	38
Debt Service Obligations
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Restricted cash	135
Cash Distribution
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Restricted cash	18
Operating Funds
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Restricted cash	$ 135

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Accumulated Depreciation, Accumulated Amortization (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Property, Plant and Equipment Accumulated Depreciation	$ 2,623	$ 2,501
Intangible Assets Accumulated Amortization	$ 646	$ 605

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Dividends Paid (Details) - $ / shares	May 04, 2022	Mar. 31, 2022	Mar. 31, 2021
Common Class A
Class of Stock [Line Items]
Common stock, dividends, per share, cash paid (in dollars per share)		$ 0.3468	$ 0.3240
Common Class A | Subsequent Event
Class of Stock [Line Items]
Common stock, dividends, per share, declared (in dollars per share)	$ 0.3536
Common Class C
Class of Stock [Line Items]
Common stock, dividends, per share, cash paid (in dollars per share)		$ 0.3468	$ 0.3240
Common Class C | Subsequent Event
Class of Stock [Line Items]
Common stock, dividends, per share, declared (in dollars per share)	$ 0.3536

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Noncontrolling Interests (Details) - $ / shares	May 04, 2022	Mar. 31, 2022
Common Class B | Subsequent Event
Summary of Significant Accounting Policies [Line Items]
Distribution made to limited liability (LLC) member, distributions declared, per unit (in dollars per share)	$ 0.3536
Common Class D | Subsequent Event
Summary of Significant Accounting Policies [Line Items]
Distribution made to limited liability (LLC) member, distributions declared, per unit (in dollars per share)	$ 0.3536
Clearway Energy LLC | Common Class B
Summary of Significant Accounting Policies [Line Items]
Distribution made to limited liability company (LLC) member, distributions paid, per unit (in dollars per share)		$ 0.3468
Clearway Energy LLC | Common Class D
Summary of Significant Accounting Policies [Line Items]
Distribution made to limited liability company (LLC) member, distributions paid, per unit (in dollars per share)		$ 0.3468

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Revenue Recognition (Details)	May 01, 2022
Discontinued Operations, Disposed of by Sale | Thermal | Subsequent Event
Schedule of Asset Acquisition [Line Items]
Percentage of assets ownership sold	100.00%

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Operating revenues	$ 214	$ 237
Total operating revenues	214	237
Operating Segments
Disaggregation of Revenue [Line Items]
Operating revenues	214	237
Contract amortization	(42)	(32)
Mark-to-market for economic hedges	(126)	(24)
Total operating revenues	214	237
Less: Mark-to-market for economic hedges	126	24
Lease income	(277)	(254)
Less: Contract amortization	42	32
Total revenue from contracts with customers	105	39
Operating Segments | Conventional Generation
Disaggregation of Revenue [Line Items]
Operating revenues	108	102
Contract amortization	(6)	(6)
Mark-to-market for economic hedges	0	0
Total operating revenues	108	102
Less: Mark-to-market for economic hedges	0	0
Lease income	(114)	(108)
Less: Contract amortization	6	6
Total revenue from contracts with customers	0	0
Operating Segments | Renewables
Disaggregation of Revenue [Line Items]
Operating revenues	47	86
Contract amortization	(36)	(25)
Mark-to-market for economic hedges	(126)	(24)
Total operating revenues	47	86
Less: Mark-to-market for economic hedges	126	24
Lease income	(162)	(145)
Less: Contract amortization	36	25
Total revenue from contracts with customers	47	(10)
Operating Segments | Thermal
Disaggregation of Revenue [Line Items]
Operating revenues	59	49
Contract amortization	0	(1)
Mark-to-market for economic hedges	0	0
Total operating revenues	59	49
Less: Mark-to-market for economic hedges	0	0
Lease income	(1)	(1)
Less: Contract amortization	0	1
Total revenue from contracts with customers	58	49
Operating Segments | Energy revenue
Disaggregation of Revenue [Line Items]
Operating revenues	232	156
Total operating revenues	232	156
Lease income	(163)	(147)
Operating Segments | Energy revenue | Conventional Generation
Disaggregation of Revenue [Line Items]
Operating revenues	0	1
Total operating revenues	0	1
Lease income	0	(1)
Operating Segments | Energy revenue | Renewables
Disaggregation of Revenue [Line Items]
Operating revenues	195	126
Total operating revenues	195	126
Lease income	(162)	(145)
Operating Segments | Energy revenue | Thermal
Disaggregation of Revenue [Line Items]
Operating revenues	37	29
Total operating revenues	37	29
Lease income	(1)	(1)
Operating Segments | Capacity revenue
Disaggregation of Revenue [Line Items]
Operating revenues	128	120
Total operating revenues	128	120
Lease income	(114)	(107)
Operating Segments | Capacity revenue | Conventional Generation
Disaggregation of Revenue [Line Items]
Operating revenues	114	107
Total operating revenues	114	107
Lease income	(114)	(107)
Operating Segments | Capacity revenue | Renewables
Disaggregation of Revenue [Line Items]
Operating revenues	0	0
Total operating revenues	0	0
Lease income	0	0
Operating Segments | Capacity revenue | Thermal
Disaggregation of Revenue [Line Items]
Operating revenues	14	13
Total operating revenues	14	13
Lease income	0	0
Operating Segments | Other revenue
Disaggregation of Revenue [Line Items]
Operating revenues	22	17
Total operating revenues	22	17
Operating Segments | Other revenue | Conventional Generation
Disaggregation of Revenue [Line Items]
Operating revenues	0	0
Total operating revenues	0	0
Operating Segments | Other revenue | Renewables
Disaggregation of Revenue [Line Items]
Operating revenues	14	9
Total operating revenues	14	9
Operating Segments | Other revenue | Thermal
Disaggregation of Revenue [Line Items]
Operating revenues	8	8
Total operating revenues	$ 8	$ 8

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Contract Balances (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, net	$ 153	$ 144
Accounts receivable, net - Contracts with customers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, net	32	44
Accounts receivable, net - Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, net	$ 121	$ 100

Acquisition and Dispositions -

Acquisition and Dispositions - Narrative (Details) $ in Millions	May 01, 2022USD ($)	Mar. 25, 2022USD ($)MW	Mar. 31, 2022USD ($)MW	Mar. 31, 2021USD ($)	May 01, 2022USD ($)	Dec. 31, 2021
Schedule of Asset Acquisition [Line Items]
Power generation capacity, megawatts | MW			7,500
Payments for asset acquisition			$ 0	$ 111
Thermal | Discontinued Operations, Disposed of by Sale
Schedule of Asset Acquisition [Line Items]
Disposition, property, plant and equipment, percent			76.00%			78.00%
Disposition, intangible assets, percent			9.00%			9.00%
Disposition, liabilities held for sale, percent			83.00%			85.00%
Thermal | Discontinued Operations, Disposed of by Sale | Subsequent Event
Schedule of Asset Acquisition [Line Items]
Consideration received in asset disposition	$ 1,460				$ 1,460
Percentage of assets ownership sold	100.00%				100.00%
Transaction expenses					$ 20
Gain on disposition of asset	$ 1,310
Mililani Drop Down
Schedule of Asset Acquisition [Line Items]
Consideration transferred in asset acquisition		$ 22
Net liabilities assumed, net		(8)
Mililani Drop Down | Tax Equity Investors
Schedule of Asset Acquisition [Line Items]
Payments to fund project reserve accounts		$ 15
Mililani Drop Down | Lighthouse Renewable Holdco LLC | Solar | Lighthouse Renewable Holdco LLC
Schedule of Asset Acquisition [Line Items]
Power generation capacity, megawatts | MW		39
Power generation storage capacity, megawatts | MW		156
Payments for asset acquisition		$ 22
Power purchase agreement period (in years_		20 years
Mililani Drop Down | Lighthouse Renewable Holdco LLC | Solar | Lighthouse Renewable Holdco LLC | Third Party Investor
Schedule of Asset Acquisition [Line Items]
Payments for asset acquisition		$ 14

Acquisitions and Dispositions -

Acquisitions and Dispositions - Summary of Assets and Liabilities Transferred (Details) - USD ($) $ in Millions	Mar. 25, 2022	Jun. 30, 2022	Mar. 31, 2022	Mar. 31, 2021
Schedule of Asset Acquisition [Line Items]
Contributions from noncontrolling interests, net of distributions			$ 23	$ 229
Mililani Drop Down
Schedule of Asset Acquisition [Line Items]
Other current and non-current assets	$ 2
Property, plant and equipment	118
Right-of-use-assets	19
Total assets acquired	139
Long-term debt	100
Long-term lease liabilities	20
Other current and non-current liabilities	27
Total liabilities assumed	147
Net liabilities assumed	(8)
Unamortized debt issuance costs	3
Mililani Drop Down | Forecast
Schedule of Asset Acquisition [Line Items]
Expected contributions upon substantial completion		$ 42
Mililani Drop Down | Tax Equity Investors
Schedule of Asset Acquisition [Line Items]
Contributions from noncontrolling interests, net of distributions	18
Mililani Drop Down | CEG
Schedule of Asset Acquisition [Line Items]
Repayment of debt at asset acquisition	27
Payments for associated fees	2
Mililani Drop Down | Construction loans
Schedule of Asset Acquisition [Line Items]
Long-term debt	16
Mililani Drop Down | Sponsor Equity Bridge Loan
Schedule of Asset Acquisition [Line Items]
Long-term debt	27
Mililani Drop Down | Sponsor Equity Bridge Loan | Tax Equity Investors
Schedule of Asset Acquisition [Line Items]
Repayment of debt at asset acquisition	14
Mililani Drop Down | Tax Equity Bridge Loan
Schedule of Asset Acquisition [Line Items]
Long-term debt	$ 60

Investments Accounted for by _3

Investments Accounted for by the Equity Method and Variable Interest Entities - Consolidated Entities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	$ 3,594	$ 3,632
Property, plant and equipment	7,661	7,650
Intangible assets	2,379	2,419
Total Assets	12,628	12,813
Total Liabilities	9,489	$ 9,513
Alta TE Holdco
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	53
Property, plant and equipment	325
Intangible assets	209
Total Assets	587
Total Liabilities	38
Noncontrolling interest	18
Net assets less noncontrolling interests	531
Buckthorn Renewables, LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	4
Property, plant and equipment	200
Intangible assets	0
Total Assets	204
Total Liabilities	10
Noncontrolling interest	40
Net assets less noncontrolling interests	154
DGPV Funds
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	84
Property, plant and equipment	592
Intangible assets	15
Total Assets	691
Total Liabilities	75
Noncontrolling interest	5
Net assets less noncontrolling interests	611
Kawailoa Partnership
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	39
Property, plant and equipment	133
Intangible assets	0
Total Assets	172
Total Liabilities	96
Noncontrolling interest	50
Net assets less noncontrolling interests	26
Langford TE Partnership LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	15
Property, plant and equipment	131
Intangible assets	2
Total Assets	148
Total Liabilities	47
Noncontrolling interest	63
Net assets less noncontrolling interests	38
Lighthouse Renewable Holdco LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	112
Property, plant and equipment	726
Intangible assets	0
Total Assets	838
Total Liabilities	302
Noncontrolling interest	432
Net assets less noncontrolling interests	104
Lighthouse Renewable Holdco 2 LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	67
Property, plant and equipment	374
Intangible assets	0
Total Assets	441
Total Liabilities	132
Noncontrolling interest	236
Net assets less noncontrolling interests	73
Oahu Solar Partnership
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	46
Property, plant and equipment	170
Intangible assets	0
Total Assets	216
Total Liabilities	107
Noncontrolling interest	32
Net assets less noncontrolling interests	77
Pinnacle Repowering Partnership LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	11
Property, plant and equipment	106
Intangible assets	18
Total Assets	135
Total Liabilities	4
Noncontrolling interest	81
Net assets less noncontrolling interests	50
Rattlesnake TE Holdco LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	15
Property, plant and equipment	191
Intangible assets	0
Total Assets	206
Total Liabilities	16
Noncontrolling interest	97
Net assets less noncontrolling interests	93
Rosie TargetCo LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	26
Property, plant and equipment	248
Intangible assets	0
Total Assets	274
Total Liabilities	98
Noncontrolling interest	138
Net assets less noncontrolling interests	38
Wildorado TE Holdco
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	18
Property, plant and equipment	221
Intangible assets	0
Total Assets	239
Total Liabilities	18
Noncontrolling interest	121
Net assets less noncontrolling interests	100
Other
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	17
Property, plant and equipment	165
Intangible assets	1
Total Assets	183
Total Liabilities	57
Noncontrolling interest	82
Net assets less noncontrolling interests	$ 44

Investments Accounted for by _4

Investments Accounted for by the Equity Method and Variable Interest Entities - Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of Equity Method Investments [Line Items]
Payments for asset acquisition	$ 0	$ 111
CEG
Schedule of Equity Method Investments [Line Items]
Contributions from CEG, non-cash		27
CEG | Noncontrolling Interest
Schedule of Equity Method Investments [Line Items]
Contributions from CEG, non-cash		$ 27

Investments Accounted for by _5

Investments Accounted for by the Equity Method and Variable Interest Entities - Unconsolidated Entities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates	$ 374	$ 381
Avenal
Schedule of Equity Method Investments [Line Items]
Economic Interest	50.00%
Equity investments in affiliates	$ 3
Desert Sunlight
Schedule of Equity Method Investments [Line Items]
Economic Interest	25.00%
Equity investments in affiliates	$ 237
Elkhorn Ridge
Schedule of Equity Method Investments [Line Items]
Economic Interest	67.00%
Equity investments in affiliates	$ 28
GenConn
Schedule of Equity Method Investments [Line Items]
Economic Interest	50.00%
Equity investments in affiliates	$ 84
San Juan Mesa
Schedule of Equity Method Investments [Line Items]
Economic Interest	75.00%
Equity investments in affiliates	$ 22

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Balance Sheet Grouping (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	$ 7,822	$ 7,782
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	7,644	7,997
Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	2,041	2,159
Fair Value | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	$ 5,603	$ 5,838

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Recurring Fair Value (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets	$ 18		$ 6
Derivative Liabilities	323		242
Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets	18		6
Derivative Liabilities	19		63
Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities	304		179
Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets	18		6
Derivative Liabilities	19		63
Fair Value, Recurring | Level 2 | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets	18		6
Derivative Liabilities	19		63
Fair Value, Recurring | Level 2 | Other Financial Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets	0		0
Fair Value, Recurring | Level 2 | Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities	0		0
Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets	24		25
Derivative Liabilities	304		179
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	(154)	$ (15)
Total losses for the period included in earnings	(111)	(24)
Additions due to loss of NPNS exception	(21)	0
Settlements	6	0
Ending balance	(280)	(39)
Change in unrealized losses included in earnings for derivatives and other financial instruments held as of March 31, 2022	(111)
Fair Value, Recurring | Level 3 | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets	0		0
Derivative Liabilities	0		0
Fair Value, Recurring | Level 3 | Other Financial Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets	24		25
Fair Value, Recurring | Level 3 | Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities	$ 304		$ 179

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Narrative (Details) $ in Millions	Mar. 31, 2022USD ($)
Fair Value Disclosures [Abstract]
Percent of derivative liabilities using level 3 fair value inputs	94.00%
Percent of other financial instruments using Level 3 fair value inputs	100.00%
Fair value assets, measured on recurring basis, valuation techniques, impact of credit reserve to fair value	$ 32

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Significant Unobservable Inputs (Details) - Fair Value, Recurring - Level 3 $ in Millions	Mar. 31, 2022USD ($)$ / MWh
Commodity Contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset | $	$ 0
Derivative liability | $	$ 304
Commodity Contracts | Low | Measurement Input, Commodity Forward Price | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input	17.33
Commodity Contracts | High | Measurement Input, Commodity Forward Price | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input	95.02
Commodity Contracts | Weighted Average | Measurement Input, Commodity Forward Price | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input	34.22
Other Financial Instruments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset | $	$ 24
Derivative liability | $	$ 0
Other Financial Instruments | Low | Measurement Input, Commodity Forward Price | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input	80,872
Other Financial Instruments | High | Measurement Input, Commodity Forward Price | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input	129,913
Other Financial Instruments | Weighted Average | Measurement Input, Commodity Forward Price | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input	124,783

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Volumetric Underlying Derivative Transactions (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)MMBTUMWh	Dec. 31, 2021USD ($)MMBTUMWh
Natural Gas | Long
Derivatives, Fair Value [Line Items]
Derivative nonmonetary notional amount (energy measure) | MMBTU	1	2
Power | Short
Derivatives, Fair Value [Line Items]
Derivative nonmonetary notional amount (energy measure) | MWh	19	17
Interest | Long
Derivatives, Fair Value [Line Items]
Derivative, notional amount | $	$ 1,223	$ 1,326

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - FV of Derivatives (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 18	$ 6
Derivative Liabilities	323	242
Derivatives Designated as Cash Flow Hedges:
Derivatives, Fair Value [Line Items]
Derivative Assets	6	2
Derivative Liabilities	1	8
Derivatives Designated as Cash Flow Hedges: | Interest rate contracts current
Derivatives, Fair Value [Line Items]
Derivative Assets	0	0
Derivative Liabilities	1	5
Derivatives Designated as Cash Flow Hedges: | Interest rate contracts long-term
Derivatives, Fair Value [Line Items]
Derivative Assets	6	2
Derivative Liabilities	0	3
Derivatives Not Designated as Cash Flow Hedges:
Derivatives, Fair Value [Line Items]
Derivative Assets	12	4
Derivative Liabilities	322	234
Derivatives Not Designated as Cash Flow Hedges: | Interest rate contracts current
Derivatives, Fair Value [Line Items]
Derivative Assets	2	0
Derivative Liabilities	8	17
Derivatives Not Designated as Cash Flow Hedges: | Interest rate contracts long-term
Derivatives, Fair Value [Line Items]
Derivative Assets	10	4
Derivative Liabilities	10	38
Derivatives Not Designated as Cash Flow Hedges: | Commodity contracts current
Derivatives, Fair Value [Line Items]
Derivative Assets	0	0
Derivative Liabilities	62	24
Derivatives Not Designated as Cash Flow Hedges: | Commodity contracts long-term
Derivatives, Fair Value [Line Items]
Derivative Assets	0	0
Derivative Liabilities	$ 242	$ 155

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Summary of Offsetting of Derivatives by Counterparty Master Agreement Level (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative liability, Gross Amounts of Recognized Assets/Liabilities	$ (323)	$ (242)
Derivative assets, Gross Amount of Recognized Assets/Liabilities	18	6
Total derivative instruments, Gross Amounts Recognized Assets/Liabilities	(305)	(236)
Total derivative instruments, Derivative Instruments	0	0
Total derivative instruments, Net Amount	(305)	(236)
Commodity contracts
Derivatives, Fair Value [Line Items]
Derivative liability, Gross Amounts of Recognized Assets/Liabilities	(304)	(179)
Derivative liability, Derivative Instruments	0	0
Derivative liability, Net Amount	(304)	(179)
Total derivative instruments, Gross Amounts Recognized Assets/Liabilities	(304)	(179)
Total derivative instruments, Derivative Instruments	0	0
Total derivative instruments, Net Amount	(304)	(179)
Interest rate contracts
Derivatives, Fair Value [Line Items]
Derivative liability, Gross Amounts of Recognized Assets/Liabilities	(19)	(63)
Derivative liability, Derivative Instruments	3	5
Derivative liability, Net Amount	(16)	(58)
Derivative assets, Gross Amount of Recognized Assets/Liabilities	18	6
Derivative assets, Derivative Instruments	(3)	(5)
Derivative asset, Net Amount	15	1
Total derivative instruments, Gross Amounts Recognized Assets/Liabilities	(1)	(57)
Total derivative instruments, Derivative Instruments	0	0
Total derivative instruments, Net Amount	$ (1)	$ (57)

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	$ 3,300	$ 2,715
Mark-to-market of cash flow hedge accounting contracts	14	11
Balance at end of period	3,139	2,995
Accumulated other comprehensive loss	0		$ (6)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $1	(3)
Accumulated OCL ending balance, income tax benefit	(2)	4
Losses expected to be realized from OCL during the next 12 months, tax expense (benefit)	1
AOCI Including Portion Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(11)	(30)
Balance at end of period	3	(19)
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassified from accumulated OCL to income due to realization of previously deferred amounts	2	2
Mark-to-market of cash flow hedge accounting contracts	12	9
AOCI Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated other comprehensive loss	3	(9)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(6)	(14)
Balance at end of period	0	(10)
Accumulated other comprehensive loss	$ 0	$ (10)

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities - Impact to Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest rate contracts | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Interest Rate Contracts (Interest expense)	$ 41	$ 47
Commodity Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Commodity Contracts (Mark-to-market economic hedging activities)	$ (125)	$ (22)

Long-term Debt - Schedule of De

Long-term Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 16, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt		$ 7,818	$ 7,778
Less current maturities		(770)	(772)
Less net debt issuance costs		(73)	(71)
Add premiums		4	4
Total long-term debt		6,979	6,939
2028 Senior Notes
Debt Instrument [Line Items]
Total debt		$ 850	850
Debt instrument, interest rate, stated percentage		4.75%
2031 Senior Notes
Debt Instrument [Line Items]
Total debt		$ 925	925
Debt instrument, interest rate, stated percentage		3.75%
2032 Senior Notes
Debt Instrument [Line Items]
Total debt		$ 350	350
Debt instrument, interest rate, stated percentage		3.75%
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023
Debt Instrument [Line Items]
Total debt		$ 305	245
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 82
Bridge Loan, Due 2022
Debt Instrument [Line Items]
Total debt		$ 335	335
Bridge Loan, Due 2022 | SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.00%
Subtotal project-level debt:
Debt Instrument [Line Items]
Total debt		$ 5,053	5,073
Agua Caliente Solar LLC, due 2037
Debt Instrument [Line Items]
Total debt		$ 680	684
Agua Caliente Solar LLC, due 2037 | Minimum
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		239.50%
Agua Caliente Solar LLC, due 2037 | Maximum
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		363.30%
Agua Caliente Solar LLC, due 2037 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 45
Alta Wind Asset Management LLC, due 2031
Debt Instrument [Line Items]
Total debt		$ 13	13
Alta Wind Asset Management LLC, due 2031 | LIBOR
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		2.625%
Alta Wind Asset Management LLC, due 2031 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 0
Alta Wind I-V lease financing arrangements, due 2034 and 2035
Debt Instrument [Line Items]
Total debt		$ 756	756
Alta Wind I-V lease financing arrangements, due 2034 and 2035 | Minimum
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		5.696%
Alta Wind I-V lease financing arrangements, due 2034 and 2035 | Maximum
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		7.015%
Alta Wind I-V lease financing arrangements, due 2034 and 2035 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 35
Alta Wind Realty Investments LLC, due 2031
Debt Instrument [Line Items]
Total debt		$ 23	24
Debt instrument, interest rate, stated percentage		7.00%
Alta Wind Realty Investments LLC, due 2031 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 0
Borrego, due 2024 and 2038
Debt Instrument [Line Items]
Total debt		54	54
Borrego, due 2024 and 2038 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		0
Buckthorn Solar, due 2025
Debt Instrument [Line Items]
Total debt		$ 122	123
Buckthorn Solar, due 2025 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
Buckthorn Solar, due 2025 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 22
Carlsbad Energy Holdings LLC, due 2027
Debt Instrument [Line Items]
Total debt		$ 136	136
Carlsbad Energy Holdings LLC, due 2027 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
Carlsbad Energy Holdings LLC, due 2027 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 77
Carlsbad Energy Holdings LLC, due 2038
Debt Instrument [Line Items]
Total debt		$ 407	407
Debt instrument, interest rate, stated percentage		4.12%
Carlsbad Energy Holdings LLC, due 2038 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 0
Carlsbad Holdco, due 2038
Debt Instrument [Line Items]
Total debt		$ 205	205
Debt instrument, interest rate, stated percentage		4.21%
Carlsbad Holdco, due 2038 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 6
CVSR Holdco Notes, due 2037
Debt Instrument [Line Items]
Total debt		$ 160	169
Debt instrument, interest rate, stated percentage		4.68%
CVSR Holdco Notes, due 2037 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 13
CVSR, due 2037
Debt Instrument [Line Items]
Total debt		$ 638	652
CVSR, due 2037 | Minimum
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		2.339%
CVSR, due 2037 | Maximum
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		3.775%
CVSR, due 2037 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 0
DG-CS Master Borrower LLC, due 2040
Debt Instrument [Line Items]
Total debt		$ 434	441
Debt instrument, interest rate, stated percentage		3.51%
DG-CS Master Borrower LLC, due 2040 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 30
El Segundo Energy Center, due 2023
Debt Instrument [Line Items]
Total debt		$ 154	193
El Segundo Energy Center, due 2023 | Minimum | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.875%
El Segundo Energy Center, due 2023 | Maximum | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.50%
El Segundo Energy Center, due 2023 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 138
Kawailoa Solar Portfolio LLC, due 2026
Debt Instrument [Line Items]
Total debt		$ 78	78
Kawailoa Solar Portfolio LLC, due 2026 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.375%
Kawailoa Solar Portfolio LLC, due 2026 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 14
Laredo Ridge, due 2028 (d)
Debt Instrument [Line Items]
Total debt		$ 0	72
Laredo Ridge, due 2028 (d) | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.125%
Laredo Ridge, due 2028 (d) | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 0
Marsh Landing, due 2023
Debt Instrument [Line Items]
Total debt		$ 72	84
Marsh Landing, due 2023 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.375%
Marsh Landing, due 2023 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 62
Mililani I, due 2022 and 2024
Debt Instrument [Line Items]
Total debt		$ 79	0
Mililani I, due 2022 and 2024 | Minimum | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.00%
Mililani I, due 2022 and 2024 | Maximum | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.25%
Mililani I, due 2022 and 2024 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 3
NIMH Solar, due 2024
Debt Instrument [Line Items]
Total debt		$ 175	176
NIMH Solar, due 2024 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.00%
NIMH Solar, due 2024 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 11
Oahu Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Total debt		$ 86	86
Oahu Solar Holdings LLC, due 2026 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.375%
Oahu Solar Holdings LLC, due 2026 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 10
Rosie Class B LLC, due 2027
Debt Instrument [Line Items]
Total debt		$ 78	78
Rosie Class B LLC, due 2027 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
Rosie Class B LLC, due 2027 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 17
Tapestry Wind LLC, due 2031(d)
Debt Instrument [Line Items]
Total debt		$ 0	85
Tapestry Wind LLC, due 2031(d) | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.375%
Tapestry Wind LLC, due 2031(d) | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 0
Utah Solar Holdings, due 2036
Debt Instrument [Line Items]
Total debt		$ 273	273
Debt instrument, interest rate, stated percentage		3.59%
Utah Solar Holdings, due 2036 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 10
Viento Funding II, LLC Due 2023 and 2029
Debt Instrument [Line Items]
Total debt	$ 190	$ 190	29
Viento Funding II, LLC Due 2023 and 2029 | SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.10%
Viento Funding II, LLC Due 2023 and 2029 | SOFR and Applicable Margin
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.475%
Viento Funding II, LLC Due 2023 and 2029 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 34
Walnut Creek, due 2023
Debt Instrument [Line Items]
Total debt		$ 62	74
Walnut Creek, due 2023 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
Walnut Creek, due 2023 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 126
WCEP Holdings, LLC, due 2023
Debt Instrument [Line Items]
Total debt		$ 29	30
WCEP Holdings, LLC, due 2023 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.00%
WCEP Holdings, LLC, due 2023 | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 0
Other
Debt Instrument [Line Items]
Total debt		149	$ 151
Other | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 191
Laredo Ridge, Due 2028; Tapestry Wind, LLC, Due 2031; and Viento Funding II, LLC, Due 2023
Debt Instrument [Line Items]
Repayments of debt	$ 186

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - USD ($) $ in Millions	May 03, 2022	Mar. 25, 2022	Mar. 16, 2022	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2027	Mar. 31, 2026	Dec. 31, 2021
Debt Instrument [Line Items]
Proceeds from the revolving credit facility				$ 80	$ 195
Payments for the revolving credit facility				20	170
Total debt				7,818				$ 7,778
Loss on debt extinguishment				(2)	$ (42)
Mililani Drop Down
Debt Instrument [Line Items]
Long-term debt		$ 100
Mililani Drop Down | Tax Equity Investors
Debt Instrument [Line Items]
Payments to fund project reserve accounts		15
Mililani Drop Down | CEG
Debt Instrument [Line Items]
Repayment of debt at asset acquisition		27
Payments for associated fees		2
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023
Debt Instrument [Line Items]
Line of credit facility, fair value of amount outstanding				305
Proceeds from the revolving credit facility				80
Payments for the revolving credit facility				20
Total debt				305				245
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023 | Subsequent Event
Debt Instrument [Line Items]
Repayments of debt	$ 305
Bridge Loan, Due 2022
Debt Instrument [Line Items]
Total debt				$ 335				335
Bridge Loan, Due 2022 | SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.00%
Bridge Loan, Due 2022 | Subsequent Event
Debt Instrument [Line Items]
Repayments of debt	$ 335
Viento Funding II, LLC Due 2023 and 2029
Debt Instrument [Line Items]
Total debt			$ 190	$ 190				$ 29
Viento Funding II, LLC Due 2023 and 2029 | Forecast
Debt Instrument [Line Items]
Effective interest rate, percent						1.50%	1.35%
Viento Funding II, LLC Due 2023 and 2029 | SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.10%
Laredo Ridge, Due 2028; Tapestry Wind, LLC, Due 2031; and Viento Funding II, LLC, Due 2023
Debt Instrument [Line Items]
Repayments of debt			186
Loss on debt extinguishment			2
Letter of Credit | Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023
Debt Instrument [Line Items]
Letters of credit outstanding, amount				$ 82
Letter of Credit | Viento Funding II, LLC Due 2023 and 2029
Debt Instrument [Line Items]
Letters of credit outstanding, amount				$ 34
Debt instrument, face amount			$ 35
Construction loans | Mililani Drop Down
Debt Instrument [Line Items]
Long-term debt		16
Tax Equity Bridge Loan | Mililani Drop Down
Debt Instrument [Line Items]
Long-term debt		60
Sponsor Equity Bridge Loan | Mililani Drop Down
Debt Instrument [Line Items]
Long-term debt		27
Sponsor Equity Bridge Loan | Mililani Drop Down | Tax Equity Investors
Debt Instrument [Line Items]
Repayment of debt at asset acquisition		$ 14

(Losses) Earnings Per Share - S

(Losses) Earnings Per Share - Schedule of Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Income (Loss) Available to Common Stockholders, Basic [Abstract]
Net (loss) income attributable to Clearway Energy, Inc.	$ (32)	$ 3
Common Class A
Net Income (Loss) Available to Common Stockholders, Basic [Abstract]
Net (loss) income attributable to Clearway Energy, Inc.	$ (9)	$ 1
Weighted average number of common shares outstanding - basic (in shares)	35	35
Weighted average number of common shares outstanding - diluted (in shares)	35	35
(Losses) earnings per weighted average common share — basic (in dollars per share)	$ (0.28)	$ 0.03
(Losses) earnings per weighted average common share — diluted (in dollars per share)	$ (0.28)	$ 0.03
Common Class C
Net Income (Loss) Available to Common Stockholders, Basic [Abstract]
Net (loss) income attributable to Clearway Energy, Inc.	$ (23)	$ 2
Weighted average number of common shares outstanding - basic (in shares)	82	82
Weighted average number of common shares outstanding - diluted (in shares)	82	82
(Losses) earnings per weighted average common share — basic (in dollars per share)	$ (0.28)	$ 0.03
(Losses) earnings per weighted average common share — diluted (in dollars per share)	$ (0.28)	$ 0.03

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	May 01, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Operating revenues	$ 214	$ 237
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below	128	110
Depreciation, amortization and accretion	124	128
General and administrative	12	10
Transaction and integration costs	2	2
Development costs	1	1
Operating Loss	(53)	(14)
Equity in earnings of unconsolidated affiliates	4	4
Other income, net	0	1
Loss on debt extinguishment	(2)	(42)
Interest expense	(47)	(45)
Loss Before Income Taxes	(98)	(96)
Income tax benefit	(1)	(20)
Net Income (Loss)	(97)	(76)
Total Assets	12,628			$ 12,813
Discontinued Operations, Disposed of by Sale | Thermal | Subsequent Event
Segment Reporting Information [Line Items]
Percentage of assets ownership sold			100.00%
Operating Segments
Segment Reporting Information [Line Items]
Operating revenues	214	237
Operating Segments | Conventional Generation
Segment Reporting Information [Line Items]
Operating revenues	108	102
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below	21	27
Depreciation, amortization and accretion	33	34
General and administrative	0	0
Transaction and integration costs	0	0
Development costs	0	0
Operating Loss	54	41
Equity in earnings of unconsolidated affiliates	1	2
Other income, net		1
Loss on debt extinguishment	0	0
Interest expense	(8)	(11)
Loss Before Income Taxes	47	33
Income tax benefit	0	0
Net Income (Loss)	47	33
Total Assets	2,361
Operating Segments | Renewables
Segment Reporting Information [Line Items]
Operating revenues	47	86
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below	68	52
Depreciation, amortization and accretion	91	87
General and administrative	0	0
Transaction and integration costs	0	0
Development costs	0	0
Operating Loss	(112)	(53)
Equity in earnings of unconsolidated affiliates	3	2
Other income, net		0
Loss on debt extinguishment	(2)	(1)
Interest expense	(8)	(4)
Loss Before Income Taxes	(119)	(56)
Income tax benefit	0	0
Net Income (Loss)	(119)	(56)
Total Assets	9,461
Operating Segments | Thermal
Segment Reporting Information [Line Items]
Operating revenues	59	49
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below	39	31
Depreciation, amortization and accretion	0	7
General and administrative	1	1
Transaction and integration costs	0	0
Development costs	1	1
Operating Loss	18	9
Equity in earnings of unconsolidated affiliates	0	0
Other income, net		0
Loss on debt extinguishment	0	0
Interest expense	(5)	(5)
Loss Before Income Taxes	13	4
Income tax benefit	0	0
Net Income (Loss)	13	4
Total Assets	653
Corporate
Segment Reporting Information [Line Items]
Operating revenues	0	0
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below	0	0
Depreciation, amortization and accretion	0	0
General and administrative	11	9
Transaction and integration costs	2	2
Development costs	0	0
Operating Loss	(13)	(11)
Equity in earnings of unconsolidated affiliates	0	0
Other income, net		0
Loss on debt extinguishment	0	(41)
Interest expense	(26)	(25)
Loss Before Income Taxes	(39)	(77)
Income tax benefit	(1)	(20)
Net Income (Loss)	(38)	$ (57)
Total Assets	$ 153

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Loss before income taxes	$ (98)	$ (96)
Income tax benefit	$ (1)	$ (20)
Effective income tax rate	1.00%	20.80%

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)subsidiary	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Related Party Transaction
General and administrative expense	$ 12	$ 10
RENOM
Related Party Transaction
Expenses from transactions with related party	15	13
Due to affiliate	9
CEG
Related Party Transaction
Expenses from transactions with related party	$ 3	3
Number of wholly owned subsidiaries | subsidiary	2
General and administrative expense	$ 1	$ 1
Affiliated Entity
Related Party Transaction
Due to affiliate	$ 2		$ 2