Clearway Energy (CWEN.A) 10-K 24 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Jan. 31, 2025	Jun. 30, 2024
Class of Stock
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Public Float			$ 2,047
Documents Incorporated by Reference	Documents Incorporated by Reference: Portions of the Registrant’s Definitive Proxy Statement relating to its 2025 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K
Entity Central Index Key	0001567683
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Common Class A
Class of Stock
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		34,613,853
Common Class B
Class of Stock
Entity Common Stock, Shares Outstanding		42,738,750
Common Class C
Class of Stock
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		82,833,226
Common Class D
Class of Stock
Entity Common Stock, Shares Outstanding		41,961,750

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	Baltimore, Maryland

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Revenues
Total operating revenues	$ 1,371	$ 1,314	$ 1,190
Operating Costs and Expenses
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below	501	473	435
Depreciation, amortization and accretion	627	526	512
Impairment losses	0	12	16
General and administrative	39	36	40
Transaction and integration costs	8	4	7
Development costs	0	0	2
Total operating costs and expenses	1,175	1,051	1,012
Gain on sale of business	0	0	1,292
Operating income	196	263	1,470
Other Income (Expense)
Equity in earnings of unconsolidated affiliates	35	12	29
Other income, net	48	52	17
Loss on debt extinguishment	(5)	(6)	(2)
Interest expense	(307)	(337)	(232)
Total other expense, net	(229)	(279)	(188)
Loss Before Income Taxes	(33)	(16)	1,282
Income tax expense (benefit)	30	(2)	222
Net (Loss) Income	(63)	(14)	1,060
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests	(151)	(93)	478
Net income attributable to Clearway Energy, Inc.	$ 88	$ 79	$ 582
Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
Weighted average number of common shares outstanding - diluted (in shares)	35	35	35
Earnings per weighted average common share - basic (in dollars per share)	$ 0.75	$ 0.67	$ 4.99
Earnings per weighted average common share - diluted (in dollars per share)	$ 0.75	$ 0.67	$ 4.99
Common Class A
Other Income (Expense)
Net income attributable to Clearway Energy, Inc.	$ 26	$ 23	$ 172
Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
Weighted average number of shares outstanding - basic (in shares)	35	35	35
Weighted average number of common shares outstanding - diluted (in shares)	35	35	35
Earnings per weighted average common share - basic (in dollars per share)	$ 0.75	$ 0.67	$ 4.99
Earnings per weighted average common share - diluted (in dollars per share)	0.75	0.67	4.99
Dividends per common share (in usd per share)	$ 1.65	$ 1.54	$ 1.43
Common Class C
Other Income (Expense)
Net income attributable to Clearway Energy, Inc.	$ 62	$ 56	$ 410
Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
Weighted average number of shares outstanding - basic (in shares)	83	82	82
Weighted average number of common shares outstanding - diluted (in shares)	83	82	82
Earnings per weighted average common share - basic (in dollars per share)	$ 0.75	$ 0.67	$ 4.99
Earnings per weighted average common share - diluted (in dollars per share)	0.75	0.67	4.99
Dividends per common share (in usd per share)	$ 1.65	$ 1.54	$ 1.43

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net (Loss) Income	$ (63)	$ (14)	$ 1,060
Other Comprehensive (Loss) Income, net of tax
Unrealized (loss) gain on derivatives and changes in accumulated OCI/OCL, net of income tax (benefit) expense of $(1), $(1) and $5	(4)	(6)	28
Other comprehensive (loss) income	(4)	(6)	28
Comprehensive (Loss) Income	(67)	(20)	1,088
Less: Comprehensive (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests	(151)	(97)	495
Comprehensive Income Attributable to Clearway Energy, Inc.	$ 84	$ 77	$ 593

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Unrealized (loss) gain on derivatives, income tax expense	$ (1)	$ (1)	$ 5

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 332	$ 535
Restricted cash	401	516
Inventory	64	55
Derivative instruments	39	41
Prepayments and other current assets	67	68
Total current assets	1,067	1,560
Property, plant and equipment, net	9,944	9,526
Other Assets
Equity investments in affiliates	309	360
Intangible assets for power purchase agreements, net	2,125	2,303
Other intangible assets, net	68	71
Derivative instruments	136	82
Right-of-use assets, net	547	597
Other non-current assets	133	202
Total other assets	3,318	3,615
Total Assets	14,329	14,701
Current Liabilities
Current portion of long-term debt	430	558
Derivative instruments	56	51
Accrued interest expense	53	57
Accrued expenses and other current liabilities	66	79
Total current liabilities	718	906
Other Liabilities
Long-term debt	6,750	7,479
Deferred income taxes	89	127
Derivative instruments	315	281
Long-term lease liabilities	569	627
Other non-current liabilities	324	286
Total other liabilities	8,047	8,800
Total Liabilities	8,765	9,706
Redeemable noncontrolling interest in subsidiaries	0	1
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); 202,147,579 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 82,833,226, Class D 41,961,750) at December 31, 2024 and 202,080,794 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 82,391,441, Class D 42,336,750) at December 31, 2023	1	1
Additional paid-in capital	1,805	1,732
Retained earnings	254	361
Accumulated other comprehensive income	3	7
Noncontrolling interest	3,501	2,893
Total Stockholders’ Equity	5,564	4,994
Total Liabilities and Stockholders’ Equity	14,329	14,701
Nonrelated Party
Current Assets
Accounts receivable — trade	164	171
Current Liabilities
Accounts payable — trade	82	130
Affiliated Entity
Current Assets
Note receivable — affiliate	0	174
Current Liabilities
Accounts payable — affiliates	$ 31	$ 31

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
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, shares authorized (in shares)	3,000,000,000	3,000,000,000
Common stock, shares issued (in shares)	202,147,579	202,080,794
Common stock, shares outstanding (in shares)	202,147,579	202,080,794
Common Class A
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	34,613,853	34,613,853
Common stock, shares outstanding (in shares)	34,613,853	34,613,853
Common Class B
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	42,738,750	42,738,750
Common stock, shares outstanding (in shares)	42,738,750	42,738,750
Common Class C
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	82,833,226	82,391,441
Common stock, shares outstanding (in shares)	82,833,226	82,391,441
Common Class D
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	41,961,750	42,336,750
Common stock, shares outstanding (in shares)	41,961,750	42,336,750

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities
Net (loss) income	$ (63)	$ (14)	$ 1,060
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates	(35)	(12)	(29)
Distributions from unconsolidated affiliates	34	30	37
Depreciation, amortization and accretion	627	526	512
Amortization of financing costs and debt discounts	14	13	14
Amortization of intangibles	182	185	172
Loss on debt extinguishment	5	6	2
Reduction in carrying amount of right-of-use assets	15	15	14
Gain on sale of business	0	0	(1,292)
Impairment losses	0	12	16
Change in deferred income taxes	25	13	194
Changes in derivative instruments and amortization of accumulated OCI/OCL	13	(2)	69
Changes in other working capital	(47)	(70)	18
Net Cash Used in Operating Activities	770	702	787
Cash Flows from Investing Activities
Acquisition of Drop Down Assets, net of cash acquired	(678)	(45)	(71)
Acquisition of Capistrano Wind Portfolio, net of cash acquired	0	0	(223)
Capital expenditures	(287)	(212)	(112)
Payment for equipment deposit	0	(27)	0
Payment for equipment deposit and asset purchase from affiliate	0	(55)	0
Return of investments from unconsolidated affiliates	41	14	13
Decrease (increase) in note receivable — affiliate	184	(174)	0
Investments in unconsolidated affiliates	0	(28)	0
Proceeds from sale of business	0	0	1,457
Other	15	4	1
Net Cash Provided by (Used in) Investing Activities	(725)	(523)	1,065
Cash Flows from Financing Activities
Contributions from noncontrolling interests, net of distributions	1,493	1,028	60
Payments of dividends and distributions	(334)	(311)	(289)
Distributions to CEG of escrowed amounts	0	0	(64)
Tax-related distributions	(1)	(21)	(8)
Buyouts of noncontrolling interest and redeemable noncontrolling interest	(7)	(13)	0
Proceeds from the revolving credit facility	0	0	80
Payments for the revolving credit facility	0	0	(325)
Proceeds from issuance of long-term debt	466	563	244
Payments of debt issuance costs	(13)	(18)	(4)
Payments for long-term debt	(1,966)	(1,349)	(1,198)
Other	(1)	(3)	(6)
Net Cash Provided by Financing Activities	(363)	(124)	(1,510)
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash	(318)	55	342
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	1,051	996	654
Cash, Cash Equivalents and Restricted Cash at End of Period	733	1,051	996
Supplemental Disclosures:
Interest paid, net of amount capitalized	(324)	(304)	(317)
Income taxes paid, net of refunds received	(1)	(31)	(9)
Non-cash financing activity:
Non-cash adjustment for change in tax basis	$ 61	$ 4	$ (1)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Millions	Total	Capistrano Wind Portfolio Drop Down	Kawailoa Solar Partnership LLC	CEG	Tax Equity Investors	Preferred Stock	Common Stock	Additional Paid-In Capital	Additional Paid-In Capital CEG	(Accumulated Deficit) Retained Earnings	(Accumulated Deficit) Retained Earnings CEG	Accumulated Other Comprehensive (Loss) Income	Accumulated Other Comprehensive (Loss) Income Capistrano Wind Portfolio Drop Down	Non-controlling Interest	Non-controlling Interest Capistrano Wind Portfolio Drop Down	Non-controlling Interest Kawailoa Solar Partnership LLC	Non-controlling Interest CEG	Non-controlling Interest Tax Equity Investors
Beginning balance at Dec. 31, 2021	$ 3,300					$ 0	$ 1	$ 1,872		$ (33)		$ (6)		$ 1,466
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,049									582				467
Unrealized gain (loss) on derivatives and changes in accumulated OCL, net of tax	28											11		17
Distributions to CEG, net of contributions, non-cash				$ 4													$ (4)
Contributions from noncontrolling interests, net of distributions, cash				16	$ 51												16	$ 51
Transfer of assets under common control	(58)							(29)						(29)
Drop Downs		$ 11	$ (69)										$ 4		$ 7	$ (69)
Tax-related distributions	(8)													(8)
Non-cash adjustment for change in tax basis	(1)							(1)
Stock-based compensation	0							1		(1)
Common stock dividends and distributions to CEG				289					$ 82	85							122
Ending balance at Dec. 31, 2022	4,026					0	1	1,761		463		9		1,792
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(31)									79				(110)
Unrealized gain (loss) on derivatives and changes in accumulated OCL, net of tax	(6)											(2)		(4)
Distributions to CEG, net of contributions, non-cash					(7)													(7)
Contributions from noncontrolling interests, net of distributions, cash					1,123													1,123
Transfer of assets under common control	286							(62)						348
Drop Downs	(10)							16						(26)
Tax-related distributions	(21)													(21)
Non-cash adjustment for change in tax basis	4							4
Distributions to CEG, net of contributions, cash				(78)													(78)
Buyout of redeemable noncontrolling interest	17							10						7
Stock-based compensation	2							3		(1)
Common stock dividends and distributions to CEG				(311)							$ (180)						(131)
Ending balance at Dec. 31, 2023	4,994					0	1	1,732		361		7		2,893
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(76)									88				(164)
Unrealized gain (loss) on derivatives and changes in accumulated OCL, net of tax	(4)											(4)
Distributions to CEG, net of contributions, non-cash					(1)													(1)
Contributions from noncontrolling interests, net of distributions, cash				194	$ 1,321												194	$ 1,321
Transfer of assets under common control	(593)							7						(600)
Drop Downs	(7)							(2)						(5)
Tax-related distributions	(1)													(1)
Non-cash adjustment for change in tax basis	61							61
Buyout of redeemable noncontrolling interest	7							4						3
Stock-based compensation	1							2		(1)
Common stock dividends and distributions to CEG				$ (334)							$ (194)						$ (140)
Ending balance at Dec. 31, 2024	5,564					$ 0	$ 1	1,805		$ 254		$ 3		3,501
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other	$ 2							$ 1						$ 1

Nature of Business

Nature of Business	12 Months Ended
	Dec. 31, 2024
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 with a focus on investments in clean energy and owner of modern, sustainable and long-term contracted assets across North America. The Company is sponsored by Clearway Energy Group LLC, or CEG, which is equally owned by GIP and TotalEnergies. On October 1, 2024, BlackRock acquired 100% of the business and assets of GIM, which is the investment manager of the GIP funds that own an interest in CEG. The Company is one of the largest owners of clean energy generation assets in the U.S. and a leading contributor to the transition to a world powered by clean energy. The Company’s portfolio comprises approximately 11.8 GW of gross capacity in 26 states, including approximately 9 GW of wind, solar and battery energy storage systems, or BESS, and approximately 2.8 GW of dispatchable combustion-based power generation assets included in the Flexible Generation segment that provide critical grid reliability services. Through this environmentally-sound, diversified and primarily contracted portfolio, the Company endeavors to provide its investors with stable and growing dividend income. The majority of the Company’s revenues are derived from long-term contractual arrangements for the output or capacity from these assets. The Company consolidates the results of Clearway Energy LLC through its controlling interest, with CEG’s interest shown as noncontrolling 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. As of December 31, 2024, the Company owned 58.10% of the economic interests of Clearway Energy LLC, with CEG owning 41.90% of the economic interests of Clearway Energy LLC. For further discussion, see Note 12, Stockholders’ Equity.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The Company’s consolidated financial statements have been prepared in accordance with GAAP. The FASB ASC is the source of authoritative GAAP to be applied by nongovernmental entities. In addition, the rules and interpretative releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. The consolidated financial statements include the Company’s accounts and operations and those of its subsidiaries in which it has a controlling financial interest. All significant intercompany transactions and balances have been eliminated in consolidation. The usual condition for a controlling financial interest is ownership of the majority of the voting interests of an entity. However, a controlling financial interest may also exist through arrangements that do not involve controlling voting interests. As such, the Company applies the guidance of ASC 810, Consolidations , to determine when an entity that is insufficiently capitalized or not controlled through its voting interests, referred to as a variable interest entity, or VIE, should be consolidated. 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 subsidiary facilities was $194 million and $125 million as of December 31, 2024 and 2023, 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: December 31, 2024 2023 (In millions) Cash and cash equivalents $ 332 $ 535 Restricted cash 401 516 Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 733 $ 1,051 Restricted cash consists primarily of funds held to satisfy the requirements of certain debt agreements and funds held within the Company’s facilities that are restricted in their use. As of December 31, 2024, these restricted funds were comprised of $184 million designated to fund operating expenses, $37 million designated for current debt service payments and $102 million restricted for reserves, including debt service, performance obligations and other reserves as well as capital expenditures. The remaining $78 million is held in distribution reserve accounts. As of December 31, 2023, these restricted funds were comprised of $176 million designated to fund operating expenses, $178 million designated for current debt service payments and $85 million restricted for reserves, including debt service, performance obligations and other reserves as well as capital expenditures. The remaining $77 million was held in distribution reserve accounts. Supplemental Cash Flow Information The following table provides a disaggregation of the amounts classified as Acquisition of Drop Down Assets, net of cash acquired, shown in the consolidated statements of cash flows: Year ended December 31, 2024 2023 2022 (In millions) Cash paid to acquire Drop Down Assets $ (680) $ (173) $ (71) Cash acquired from the acquisition of Drop Down Assets 2 128 — Acquisition of Drop Down Assets, net of cash acquired $ (678) $ (45) $ (71) Accounts Receivable — Trade and Allowance for Credit Losses Accounts receivable — trade are reported on the consolidated balance sheet at the invoiced amount adjusted for any write-offs and the allowance for credit losses. The majority of the Company’s customers typically receive invoices monthly with payment due within 30 days. The allowance for credit losses is reviewed periodically based on amounts past due and their significance. The allowance for credit losses was immaterial as of December 31, 2024 and 2023. Inventory Inventory consists of spare parts and is valued at weighted average cost, unless evidence indicates that the weighted average cost will not be recovered with a normal profit in the ordinary course of business. Inventory is removed when used for repairs, maintenance or capital projects. Property, Plant and Equipment Property, plant and equipment are stated at cost, however impairment adjustments are recorded whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Significant additions or improvements extending asset lives are capitalized as incurred, while repairs and maintenance that do not improve or extend the life of the respective asset are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives. Certain assets and their related accumulated depreciation amounts are adjusted for asset retirements and disposals with the resulting gain or loss included in cost of operations in the consolidated statements of income. For further discussion of the Company’s property, plant and equipment refer to Note 4, Property, Plant and Equipment . Interest incurred on funds borrowed to finance capital projects is capitalized until the project under construction is ready for its intended use. The amount of interest capitalized for the years ended December 31, 2024, 2023 and 2022 was $28 million, $36 million and $2 million, respectively. Construction in-progress represents cumulative construction costs, including the costs incurred for the purchase of major equipment and engineering costs and capitalized interest. Once the project achieves commercial operation, the Company reclassifies the amounts recorded in construction in progress to facilities and equipment. Asset Impairments Long-lived assets that are held and used are reviewed for impairment whenever events or changes in circumstances indicate their carrying amounts may not be recoverable. Such reviews are performed in accordance with ASC 360, Property, Plant and Equipment . An impairment loss is indicated if the total future estimated undiscounted cash flows expected from an asset are less than its carrying amount. An impairment charge is measured as the excess of an asset’s carrying amount over its fair value with the difference recorded in operating costs and expenses in the consolidated statements of income. Fair values are determined by a variety of valuation methods, including appraisals, sales prices of similar assets and present value techniques. For further discussion of the Company’s long-lived asset impairments, refer to Note 9, Asset Impairments . Investments accounted for by the equity method are reviewed for impairment in accordance with ASC 323, Investments-Equity Method and Joint Ventures , which requires that a loss in value of an investment that is an other-than-temporary decline should be recognized. The Company identifies and measures losses in the value of equity method investments based upon a comparison of fair value to carrying value. Debt Issuance Costs Debt issuance costs are capitalized and amortized as interest expense on a basis which approximates the effective interest method over the term of the related debt. Debt issuance costs related to the long-term debt are presented as a direct deduction from the carrying amount of the related debt. Debt issuance costs related to the senior secured revolving credit facility line of credit are recorded as a non-current asset on the consolidated balance sheet and are amortized over the term of the credit facility. Intangible Assets Intangible assets represent contractual rights held by the Company. The Company recognizes specifically identifiable intangible assets, including PPAs, leasehold rights, emission allowances, RECs and development rights when specific rights and contracts are acquired. These intangible assets are amortized primarily on a straight-line basis. For further discussion of the Company’s intangible assets, refer to Note 8, Intangible Assets . 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. Flexible Generation Segment Revenues The majority of the facilities in the Flexible Generation segment commenced merchant operations during 2023 following the expiration of the PPAs. These facilities generate revenues from selling electricity and/or RA to the CAISO and to public utility and load serving entities, as the power is delivered at the interconnection point. 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 facilities in the Flexible Generation segment are sold through long-term PPAs and tolling agreements to a single counterparty, which is often a utility or commercial customer. Certain revenue agreements also provide for the sale of BESS capacity. As discussed above, the majority of the facilities in the Flexible Generation segment commenced merchant operations during 2023 following the expiration of the PPAs. 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. The Company’s BESS arrangements include variable payments not based on an index or rate and sales-type lease treatment would result in a loss at lease commencement. As a result, the Company accounts for these arrangements as operating leases under ASC 842. 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 finance lease. Certain of these PPAs have no minimum lease payments and all of the lease revenue under these PPAs is recorded as contingent rent on an actual basis when the electricity is delivered. The contingent lease revenue recognized in the years ended December 31, 2024, 2023 and 2022 was $831 million, $780 million and $850 million, respectively. See Note 17, Leases, for additional information related to the Company’s PPAs accounted for as leases. 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 unnecessary to allocate transaction price to multiple performance obligations. Thermal Revenues On May 1, 2022, the Company completed the sale of 100% of its interests in the Thermal Business to KKR. Prior to the sale, steam and chilled water revenue was recognized as the Company transferred 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 recognized 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 was satisfied over time and revenue was recognized based on the invoiced amount. The Thermal Business subsidiaries collected and remitted state and local taxes associated with sales to their customers, as required by governmental authorities. These taxes were presented on a net basis in the consolidated statements of income. Disaggregated Revenues The following tables represent the Company’s disaggregation of revenue from contracts with customers, along with the reportable segment for each category: Year ended December 31, 2024 (In millions) Flexible Generation Renewables Total Energy revenue (a) $ 84 $ 1,089 $ 1,173 Capacity revenue (a) 262 65 327 Other revenues 5 85 90 Contract amortization (18) (166) (184) Mark-to-market for economic hedges 9 (44) (35) Total operating revenues 342 1,029 1,371 Less: Contract amortization 18 166 184 Less: Mark-to-market for economic hedges (9) 44 35 Less: Lease revenue (113) (860) (973) Total revenue from contracts with customers $ 238 $ 379 $ 617 (a) See Note 17, Leases, for the amounts of energy and capacity revenues that relate to leases and are accounted for under ASC 842. Year ended December 31, 2023 (In millions) Flexible Generation Renewables Total Energy revenue (a) $ 81 $ 942 $ 1,023 Capacity revenue (a) 336 23 359 Other revenues (a) 28 71 99 Contract amortization (20) (166) (186) Mark-to-market for economic hedges (5) 24 19 Total operating revenues 420 894 1,314 Less: Contract amortization 20 166 186 Less: Mark-to-market for economic hedges 5 (24) (19) Less: Lease revenue (274) (780) (1,054) Total revenue from contracts with customers $ 171 $ 256 $ 427 (a) See Note 17, Leases , for the amounts of energy, capacity and other revenues that relate to leases and are accounted for under ASC 842. Year ended December 31, 2022 (In millions) Flexible Generation Renewables Thermal Total Energy revenue (a) $ 6 $ 956 $ 48 $ 1,010 Capacity revenue (a) 435 2 18 455 Other revenues — 71 11 82 Contract amortization (24) (151) — (175) Mark-to-market for economic hedges — (182) — (182) Total operating revenues 417 696 77 1,190 Less: Contract amortization 24 151 — 175 Less: Mark-to-market for economic hedges — 182 — 182 Less: Lease revenue (441) (809) (1) (1,251) Total revenue from contracts with customers $ — $ 220 $ 76 $ 296 (a) See Note 17, Leases , for the amounts of energy and capacity revenues that relate to leases and are accounted for under ASC 842. 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 included on the Company’s consolidated balance sheets: (In millions) December 31, 2024 December 31, 2023 Accounts receivable, net - Contracts with customers $ 75 $ 66 Accounts receivable, net - Leases 89 105 Total accounts receivable, net $ 164 $ 171 Derivative Financial Instruments The Company accounts for derivative financial instruments under ASC 815, Derivatives and Hedging , or ASC 815, which requires the Company to record all derivatives on the balance sheet at fair value unless they qualify for a NPNS exception. Changes in the fair value of non-hedge derivatives are immediately recognized in earnings. Changes in the fair value of derivatives accounted for as hedges, if elected for hedge accounting, are deferred and recorded as a component of accumulated OCI until the hedged transactions occur and are recognized in earnings. The Company’s primary derivative financial instruments are interest rate instruments used to mitigate variability in earnings due to fluctuations in interest rates and energy-related instruments used to mitigate variability in earnings due to fluctuations in power market prices or natural gas market prices. Certain derivative contracts contain provisions providing the counterparties a lien on specific assets as collateral. On an ongoing basis, the Company qualitatively assesses the effectiveness of its derivatives that are designated as hedges for accounting purposes in order to determine that each derivative continues to be highly effective in offsetting changes in cash flows of hedged items. If necessary, the Company will perform an analysis to measure the statistical correlation between the derivative and the associated hedged item to determine the effectiveness of such a contract designated as a hedge. The Company will discontinue hedge accounting if it is determined that the hedge is no longer effective. In this case, the gain or loss previously deferred in accumulated OCI would be frozen until the underlying hedged item is delivered unless the transaction being hedged is no longer probable of occurring in which case the amount in accumulated OCI would be immediately reclassified into earnings. If the derivative financial instrument is terminated, the effective portion of this derivative deferred in accumulated OCI will be frozen until the underlying hedged item is delivered. Revenues and expenses on contracts that qualify for the NPNS exception are recognized when the underlying physical transaction is delivered. While these contracts are considered derivative financial instruments under ASC 815, they are not recorded at fair value, but on an accrual basis of accounting. If it is determined that a transaction designated as NPNS no longer meets the scope exception, the fair value of the related contract is recorded on the balance sheet and immediately recognized through earnings. Cash flows from derivative financial instruments, including derivatives designated as cash flow hedges and derivatives not designated as cash flow hedges, are classified as operating activities in the consolidated statements of cash flows. Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of accounts receivable — trade and derivative financial instruments, which are concentrated within entities engaged in the energy and financial industries. These industry concentrations may impact the overall exposure to credit risk, either positively or negatively, in that the customers may be similarly affected by changes in economic, industry or other conditions. In addition, many of the Company’s facilities have only one customer . See Note 6, Fair Value of Financial Instruments, for a further discussion of derivative concentrations and Note 13, Segment Reporting , for concentration of counterparties. Fair Value of Financial Instruments The carrying amount of cash and cash equivalents, restricted cash, accounts receivable — trade, accounts payable — trade, account payable — affiliates and accrued expenses and other current liabilities approximate fair value because of the short-term maturity of these instruments. See Note 6, Fair Value of Financial Instruments, for a further discussion of fair value of financial instruments. Asset Retirement Obligations Asset retirement obligations, or AROs, are accounted for in accordance with ASC 410-20, Asset Retirement Obligations, or ASC 410-20. Retirement obligations associated with long-lived assets included within the scope of ASC 410-20 are those for which a legal obligation exists under enacted laws, statutes, and written or oral contracts, including obligations arising under the doctrine of promissory estoppel, and for which the timing and/or method of settlement may be conditional on a future event. ASC 410-20 requires an entity to recognize the fair value of a liability for an ARO in the period in which it is incurred and a reasonable estimate of fair value can be made. Upon initial recognition of a liability for an ARO, other than when an ARO is assumed in an acquisition of the related long-lived asset, the asset retirement cost is capitalized by increasing the carrying amount of the related long-lived asset by the same amount. Over time, the liability is accreted to its future value, while the capitalized cost is depreciated over the useful life of the related asset. The Company’s AROs are primarily related to the future dismantlement of equipment on leased property and environmental obligations related to site closures and fuel storage facilities. The Company records AROs as part of other non-current liabilities on its consolidated balance sheet. The following table represents the balance of AROs, along with the related activity: (In millions) Balance as of December 31, 2022 $ 157 Revisions in estimated cash flows 3 Liabilities incurred 67 Accretion expense 12 Balance as of December 31, 2023 239 Revisions in estimated cash flows (1) Liabilities incurred 14 Liabilities settled (2) Accretion expense 16 Balance as of December 31, 2024 $ 266 Guarantees The Company enters into various contracts that include indemnification and guarantee provisions as a routine part of its business activities. Examples of these contracts include operation and maintenance agreements, service agreements, commercial sales arrangements and other types of contractual agreements with vendors and other third parties as well as affiliates. These contracts generally indemnify the counterparty for tax, environmental liability, litigation and other matters as well as breaches of representations, warranties and covenants set forth in these agreements. Because many of the guarantees and indemnities the Company issues to third parties and affiliates do not limit the amount or duration of its obligations to perform under them, there exists a risk that the Company may have obligations in excess of the amounts agreed upon in the contracts mentioned above. For those guarantees and indemnities that do not limit the liability exposure, the Company may not be able to estimate what the liability would be, until a claim is made for payment or performance, due to the contingent nature of these contracts. Investments Accounted for by the Equity Method The Company has investments in various energy facilities accounted for by the equity method, several of which are VIEs, where the Company is not a primary beneficiary, as described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities . The equity method of accounting is applied to these investments in affiliates because the ownership structure prevents the Company from exercising a controlling influence over the operating and financial policies of the facilities. Under this method, equity in pre-tax income or losses of the investments is reflected as equity in earnings of unconsolidated affiliates. Distributions from equity method investments that represent earnings on the Company’s investment are included within cash flows from operating activities and distributions from equity method investments that represent a return of the Company’s investment are included within cash flows from investing activities. Sale-Leaseback Arrangements The Company is party to sale-leaseback arrangements that provide for the sale of certain assets to a third-party and simultaneous leaseback to the Company. In accordance with ASC 842-40, Sale-Leaseback Transactions , if the seller-lessee retains, through the leaseback, substantially all of the benefits and risks incident to the ownership of the property sold, the sale-leaseback transaction is accounted for as a financing arrangement. An example of this type of continuing involvement would include an option to repurchase the assets or the buyer-lessor having the option to sell the assets back to the Company. This provision is included in most of the Company’s sale-leaseback arrangements. As such, the Company accounts for these arrangements as financings. Under the financing method, the Company does not recognize as income any of the sale proceeds received from the lessor that contractually constitutes payment to acquire the assets subject to these arrangements. Instead, the sale proceeds received are accounted for as financing obligations and leaseback payments made by the Company are allocated between interest expense and a reduction to the financing obligation. Interest on the financing obligation is calculated using the Company’s incremental borrowing rate at the inception of the arrangement on the outstanding financing obligation. Judgment is required to determine the appropriate borrowing rate for the arrangement and in determining any gain or loss on the transaction that would be recorded either at the end of or over the lease term. Income Taxes The Company accounts for income taxes using the liability method in accordance with ASC 740, Income Taxes , or ASC 740, which requires that the Company use the asset and liability method of accounting for deferred income taxes and provide deferred income taxes for all significant temporary differences. The Company has two categories of income tax expense or benefit — current and deferred, as follows: • Current income tax expense or benefit consists solely of current taxes payable less applicable tax credits, and • Deferred income tax expense or benefit is the change in the net deferred income tax asset or liability, excluding amounts charged or credited to accumulated other comprehensive income (loss). The Company reports some of its revenues and expenses differently for financial statement purposes than for income tax return purposes, resulting in temporary and permanent differences between the Company’s financial statements and income tax returns. The tax effects of such temporary differences are recorded as either deferred income tax assets or deferred income tax liabilities in the Company’s consolidated balance sheets. The Company measures its deferred income tax assets and deferred income tax liabilities using income tax rates that are currently in effect. The Company believes it is more likely than not that the results of future operations will generate sufficient taxable income which includes the future reversal of existing taxable temporary differences to realize deferred tax assets, net of valuation allowances. In arriving at this conclusion to utilize projections of future profit before tax in its estimate of future taxable income, the Company considered the profit before tax generated in recent years. A valuation allowance is recorded to reduce the net deferred tax assets to an amount that is more-likely-than-not to be realized. The Company accounts for uncertain tax positions in accordance with ASC 740, which applies to all tax positions related to income taxes. Under ASC 740, tax benefits are recognized when it is more-likely-than-not that a tax position will be sustained upon examination by the authorities. The benefit recognized from a position that has surpassed the more-likely-than-not threshold is the largest amount of benefit that is more than 50% likely to be realized upon settlement. In accordance with ASC 740 and as discussed further in Note 14, Income Taxes , changes to existing net deferred tax assets, valuation allowances, or changes to uncertain tax benefits, are recorded to income tax expense. Asset Acquisitions The Company accounts for its acquisitions in accordance with ASC 805, Business Combinations, or ASC 805. For third-party acquisitions, ASC 805 requires an acquirer to recognize and measure in its financial statements the identifiable assets acquired, the liabilities assumed and any noncontrolling interest in the acquiree at fair value at the acquisition date. No goodwill is recognized, and excess purchase price or negative goodwill are allocated to the acquired assets on a relative fair value basis. For acquisitions that relate to entities under common control, the difference between the cash paid and historical value of the entities’ equity is recorded as a distribution/contribution from/to CEG with the offset to noncontrolling interest. Tax Equity Arrangements Certain portions of the Company’s noncontrolling interest represent third-party interests in the net assets under tax equity arrangements, which are consolidated by the Company, that have been entered into to finance the cost of facilities eligible for certain tax credits and benefits. The Company has determined that the provisions in the contractual agreements of these noncontrolling interests represent substantive profit sharing arrangements. Further, the Company has determined that the appropriate methodology for calculating the noncontrolling interest that reflects the substantive profit sharing arrangements is a balance sheet approach utilizing the hypothetical liquidation at book value, or HLBV, method. Under the HLBV method, the amounts reported as noncontrolling interest represent the amounts the investors to the tax equity arrangements would hypothetically receive at each balance sheet date under the liquidation provisions of the contractual agreements, assuming the net assets of the funding structures were liquidated at their recorded amounts determined in accordance with GAAP. The investors’ interests in the results of operations of the funding structures are determined as the difference in noncontrolling interest at the start and end of each reporting period, after taking into account any capital transactions between the structures and the funds’ investors. The calculations utilized to apply the HLBV method include estimated calculations of taxable income or losses for each reporting period. In addition, in certain circumstances, the Company and its partners in the tax equity arrangements agree that certain tax benefits are to be utilized outside of the tax equity arrangements, which may result in differences in the amount an investor would hypothetically receive at the initial balance sheet date calculated strictly in accordance with related contractual agreements. These differences are recognized in the consolidated statements of income using a systematic and rational method over the period during which the investor is expected to achieve its target return. Redeemable Noncontrolling Interest To the extent that a third party has the right to redeem their interests for cash or other assets, the Company has included the noncontrolling interest attributable to the third party as a component of temporary equity in the mezzanine section of the consolidated balance sheet. During the fourth quarter of 2024, the Company repurchased the remaining partner’s equity interest, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities . The following table reflects the changes in the Company’s redeemable noncontrolling interest balance: (In millions) Balance at December 31, 2022 $ 7 Cash distributions to redeemable noncontrolling interests (3) Comprehensive income attributable to redeemable noncontrolling interests 17 Repurchase of redeemable noncontrolling interest (20) Balance at December 31, 2023 1 Cash distributions to redeemable noncontrolling interests (2) Comprehensive income attributable to redeemable noncontrolling interests 13 Repurchase of redeemable noncontrolling interest (12) Balance at December 31, 2024 $ — 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. In recording transactions and balances resulting from business operations, the Company uses estimates based on the best information available. Estimates are used for such items as plant depreciable lives, tax provisions, uncollectible accounts, AROs, acquisition accounting, fair value of financial instruments and legal costs incurred in connection with recorded loss contingencies, among others. In addition, estimates are used to test long-lived assets for impairment and to determine the fair value of impaired assets. As better information becomes available or actual amounts are determinable, the recorded estimates are revised. Consequently, operating results can be affected by revisio

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions As further described in Note 2, Summary of Significant Accounting Policies , the Company records the assets acquired and liabilities assumed at acquisition-date fair value, except for acquisitions under common control by CEG, in which assets acquired and liabilities assumed are recorded at historical cost at the acquisition date, which for certain transactions represent the acquired cost. Dan’s Mountain Drop Down — On November 18, 2024, the Company, through its indirect subsidiary, Dan’s Mountain Parent Holdco LLC, acquired the Class A membership interests in Dan’s Mountain TargetCo LLC, the indirect owner of Dan’s Mountain, a 55 MW wind facility that is currently under construction in Allegany County, Maryland, from Clearway Renew for initial cash consideration of $7 million. At substantial completion, which is expected to occur in the first half of 2025, the Company estimates it will pay an additional $31 million to Clearway Renew. Dan’s Mountain TargetCo LLC, a partnership between the Company and Clearway Renew, consolidates as primary beneficiary, Dan’s Mountain Tax Credit Holdco LLC, a tax equity fund that owns the Dan’s Mountain wind facility, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities . Dan’s Mountain has a 12-year PPA with an investment-grade utility that will commence when the underlying operating assets reach commercial operations, which is expected to occur in the first half of 2025. The Dan’s Mountain 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 Dan’s Mountain on a prospective basis in its financial statements. The assets and liabilities transferred to the Company relate to interests under common control and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues . The sum of the Company’s initial cash consideration of $7 million and the historical cost of the Company’s net liabilities assumed of $2 million, less Clearway Renew’s investment of $1 million in Dan’s Mountain TargetCo LLC, was recorded as an adjustment to CEG’s noncontrolling interest balance. In addition, the Company reflected the entire $7 million purchase price, which was contributed back to the Company by CEG to pay down the acquired long-term debt, in the line item contributions from CEG, net of distributions, in the consolidated statements of stockholders’ equity. The following is a summary of assets and liabilities transferred in connection with the acquisition as of November 18, 2024: (In millions) Dan’s Mountain Property, plant and equipment (a) $ 152 Right-of-use assets 3 Total assets acquired 155 Long-term debt (b) 125 Long-term lease liabilities 3 Other current and non-current liabilities 29 Total liabilities assumed 157 Net liabilities assumed $ (2) (a) Includes Construction in progress of $150 million. (b) Includes a $77 million cash equity bridge loan and a $49 million tax equity bridge loan, offset by $1 million in unamortized debt issuance costs. See Note 10, Long-term Debt, for further discussion of the long-term debt assumed in the acquisition. Rosamond Central BESS Drop Down — On December 1, 2023, the Rosamond Central solar facility acquired a 147 MW co-located BESS facility from Clearway Renew for initial cash consideration of $70 million, $16 million of which was funded by the Company, with the remaining $54 million funded through contributions from the cash equity investor in Rosie TargetCo LLC and the tax equity investor in Rosie TE HoldCo LLC. On June 13, 2024, when the Rosamond Central BESS facility reached substantial completion, the Company paid $279 million to Clearway Renew as additional purchase price to complete its acquisition of the facility. The additional purchase price consisted of $64 million funded by the Company and $215 million funded through contributions from the cash equity and tax equity investors. In order to facilitate and fund the construction of the BESS facility, Rosie Class B LLC, the indirect owner of the Rosamond Central solar facility, utilizing the proceeds from borrowings received under the refinanced debt facility, issued a loan to Clearway Renew, as further discussed in Note 10, Long-term Debt , and also made equity contributions to Rosie BESS Devco LLC, or Rosie Central BESS, which were accounted for as investments under the equity method of accounting, as further discussed in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities . The BESS facility has a 15-year PPA for capacity with an investment-grade utility that commenced in July 2024. The Rosamond Central BESS operations are reflected in the Company’s Renewables segment and the Company’s portion of the purchase price was funded with existing sources of liquidity. The acquisition was determined to be an asset acquisition and the Company consolidates the Rosamond Central BESS net assets on a prospective basis in its financial statements. The assets and liabilities transferred to the Company relate to interests under common control and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues . The difference between the historical cost of the Company’s net assets acquired of $266 million and the Company’s initial cash consideration of $70 million was recorded as an adjustment to CEG’s noncontrolling interest balance. The $279 million additional purchase price was also recorded as an adjustment to CEG’s noncontrolling interest balance. The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 1, 2023: (In millions) Rosamond Central BESS Property, plant and equipment (a) $ 275 Total assets acquired 275 Other current and non-current liabilities 9 Total liabilities assumed 9 Net assets acquired $ 266 (a) Includes Construction in progress of $272 million. Victory Pass and Arica Drop Down — On October 31, 2023, the Company, through its indirect subsidiary, VP-Arica Parent Holdco LLC, acquired the Class A membership interests in VP-Arica TargetCo LLC, a partnership and the indirect owner of Victory Pass, a 200 MW solar facility that is paired with a 50 MW BESS facility, and Arica, a 263 MW solar facility that is paired with a 136 MW BESS facility, both located in Riverside, California, from Clearway Renew for initial cash consideration of $46 million. Simultaneously, a cash equity investor acquired the Class B membership interests in VP-Arica TargetCo LLC from Clearway Renew for initial cash consideration of $87 million. On May 1, 2024, when the facilities reached substantial completion, the Company paid $165 million to Clearway Renew as additional purchase price and the cash equity investor contributed an additional $347 million. VP-Arica TargetCo LLC consolidates as primary beneficiary, VP-Arica TE Holdco LLC, a tax equity fund that owns the Victory Pass and Arica solar and BESS facilities, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities . Victory Pass and Arica each have PPAs with investment-grade counterparties that have a 15-year and 14-year weighted average contract duration, respectively, that commenced between March 2024 and April 2024. The Victory Pass and Arica 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 Victory Pass and Arica on a prospective basis in its financial statements. The assets and liabilities transferred to the Company relate to interests under common control and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues . The sum of the Company’s initial cash consideration of $46 million and the historical cost of the Company’s net liabilities assumed of $1 million was recorded as an adjustment to CEG’s noncontrolling interest balance. The $165 million additional purchase price was also recorded as an adjustment to CEG’s noncontrolling interest balance. In addition, the Company reflected the entire $46 million of the Company’s initial purchase price, which was contributed back to the Company by CEG to pay down the acquired long-term debt, in the line item distributions to CEG, net of contributions, in the consolidated statements of stockholders’ equity. The Company also reflected the entire $165 million of the Company’s additional purchase price, which was contributed back to the Company by CEG to pay down long-term debt, in the line item contributions to CEG, net of distributions, in the consolidated statements of stockholders’ equity. The following is a summary of assets and liabilities transferred in connection with the acquisition as of October 31, 2023: (In millions) Victory Pass and Arica Cash $ 1 Property, plant and equipment (a) 937 Right-of-use assets, net 4 Derivative assets 1 Other non-current assets 6 Total assets acquired 949 Long-term debt (b) 864 Long-term lease liabilities 4 Other current and non-current liabilities 82 Total liabilities assumed 950 Net liabilities assumed $ (1) (a) Includes Construction in progress of $893 million. (b) Includes a $483 million cash equity bridge loan and $385 million tax equity bridge loan, offset by $4 million in unamortized debt issuance costs. See Note 10, Long-term Debt, for further discussion of the long-term debt assumed in the acquisition. Cedar Creek Drop Down — On April 16, 2024, the Company, through its indirect subsidiary, Cedar Creek Wind Holdco LLC, acquired Cedar Creek Holdco LLC, the indirect owner of Cedar Creek, a 160 MW wind facility that is located in Bingham County, Idaho, from Clearway Renew for cash consideration of $117 million. Cedar Creek Holdco LLC consolidates as primary beneficiary, Cedar Creek TE Holdco LLC, a tax equity fund that owns the Cedar Creek wind facility, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities . Cedar Creek has a 25-year PPA with an investment-grade utility that commenced in March 2024. The Cedar Creek 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 Cedar Creek on a prospective basis in its financial statements. The assets and liabilities transferred to the Company relate to interests under common control and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues . The difference between the Company’s cash paid of $117 million and the historical cost of the Company’s net assets acquired of $17 million was recorded as an adjustment to CEG’s noncontrolling interest balance. In addition, the Company reflected the entire $117 million purchase price, which was contributed back to the Company by CEG to pay down the acquired long-term debt, in the line item contributions from CEG, net of distributions, in the consolidated statements of stockholders’ equity. The following is a summary of assets and liabilities transferred in connection with the acquisition as of April 16, 2024: (In millions) Cedar Creek Restricted cash $ 1 Property, plant and equipment 311 Right-of-use assets, net 6 Derivative assets 14 Other current and non-current assets 14 Total assets acquired 346 Long-term debt (a) 309 Long-term lease liabilities 7 Other current and non-current liabilities 13 Total liabilities assumed 329 Net assets acquired $ 17 (a) Includes a $112 million construction loan, a $91 million cash equity bridge loan, and a $109 million tax equity bridge loan, offset by $3 million in unamortized debt issuance costs. See Note 10, Long-term Debt, for further discussion of the long-term debt assumed in the acquisition. Texas Solar Nova 2 Drop Down — On March 15, 2024, the Company, through its indirect subsidiary, TSN1 TE Holdco LLC, acquired Texas Solar Nova 2, a 200 MW solar facility that is located in Kent County, Texas, from Clearway Renew for cash consideration of $112 million, of which $17 million was funded by the Company, with the remaining $95 million funded through a contribution from the cash equity investor in Lighthouse Renewable Holdco 2 LLC, a partnership. Lighthouse Renewable Holdco 2 LLC indirectly consolidates as primary beneficiary, TSN1 TE Holdco LLC, a tax equity fund that owns Texas Solar Nova 1 and Texas Solar Nova 2, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities. Texas Solar Nova 2 has an 18-year PPA with an investment-grade counterparty that commenced in February 2024. The Texas Solar Nova 2 operations are reflected in the Company’s Renewables segment and the Company’s portion of the purchase price was funded with existing sources of liquidity. The acquisition was determined to be an asset acquisition and the Company consolidates Texas Solar Nova 2 on a prospective basis in its financial statements. The assets and liabilities transferred to the Company relate to interests under common control and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues . The difference between the Company’s cash paid of $112 million and the historical cost of the Company’s net assets acquired of $72 million was recorded as an adjustment to CEG’s noncontrolling interest balance. In addition, the Company reflected $9 million of the Company’s purchase price, which was contributed back to the Company by CEG to pay down the acquired long-term debt, in the line item contributions from CEG, net of distributions, in the consolidated statements of stockholders’ equity. The following is a summary of assets and liabilities transferred in connection with the acquisition as of March 15, 2024: (In millions) Texas Solar Nova 2 Restricted cash $ 1 Property, plant and equipment 280 Right-of-use assets, net 21 Derivative assets 6 Other current and non-current assets 4 Total assets acquired 312 Long-term debt (a) 194 Long-term lease liabilities 19 Other current and non-current liabilities 27 Total liabilities assumed 240 Net assets acquired $ 72 (a) Includes an $80 million term loan and a $115 million tax equity bridge loan, offset by $1 million in unamortized debt issuance costs. See Note 10, Long-term Debt, for further discussion of the long-term debt assumed in the acquisition. Texas Solar Nova 1 Drop Down — On December 28, 2023, the Company, through its indirect subsidiary, Lighthouse Renewable Holdco 2 LLC, acquired TSN1 BL Borrower Holdco LLC, the indirect owner of Texas Solar Nova 1, a 252 MW solar facility that is located in Kent County, Texas, from Clearway Renew for cash consideration of $23 million. Lighthouse Renewable Holdco 2 LLC is a partnership between the Company and a cash equity investor. The cash equity investor contributed cash consideration of $109 million to acquire their portion of the acquired entity. TSN1 BL Borrower Holdco LLC consolidates as primary beneficiary, TSN1 TE Holdco LLC, a tax equity fund that owns the Texas Solar Nova 1 solar facility, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities . Texas Solar Nova 1 has an 18-year PPA with an investment-grade counterparty that commenced in January 2024. The Texas Solar Nova 1 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 Texas Solar Nova 1 on a prospective basis in its financial statements. The assets and liabilities transferred to the Company relate to interests under common control and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues . The sum of the Company’s cash paid of $23 million and the historical cost of the Company’s net liabilities assumed of $6 million was recorded as an adjustment to CEG’s noncontrolling interest balance. In addition, the Company reflected the entire $23 million of the Company’s purchase price, which was contributed back to the Company by CEG to pay down the acquired long-term debt, in the line item distributions to CEG, net of contributions, in the consolidated statements of stockholders’ equity. The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 28, 2023: (In millions) Texas Solar Nova 1 Cash $ 3 Property, plant and equipment 362 Right-of-use assets, net 21 Derivative assets 4 Other non-current assets 6 Total assets acquired 396 Long-term debt (a) 349 Long-term lease liabilities 19 Other current and non-current liabilities 34 Total liabilities assumed 402 Net liabilities assumed $ (6) (a) Includes a $90 million construction loan, $109 million cash equity bridge loan and $151 million tax equity bridge loan, offset by $1 million in unamortized debt issuance costs. See Note 10, Long-term Debt, for further discussion of the long-term debt assumed in the acquisition. Daggett 2 Drop Down — On August 30, 2023, the Company, through its indirect subsidiary, Daggett Solar Investment LLC, acquired the Class A membership interests in Daggett 2 TargetCo LLC, a partnership and the indirect owner of Daggett 2, a 182 MW solar facility that is paired with a 131 MW BESS facility located in San Bernardino, California, from CEG for cash consideration of $13 million. Daggett 2 TargetCo LLC consolidates as primary beneficiary, Daggett 2 TE Holdco LLC, a tax equity fund that owns the Daggett 2 solar facility, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities. Daggett 2 has PPAs with investment-grade counterparties that have a 15-year weighted average contract duration that commenced in December 2023. The Daggett 2 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 Daggett 2 on a prospective basis in its financial statements. The assets, liabilities and noncontrolling interests transferred to the Company relate to interests under common control and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues . The sum of the historical cost of the Company’s acquired interests of $29 million and the cash paid of $13 million was recorded as an adjustment to CEG’s noncontrolling interest balance. The following is a summary of assets and liabilities transferred in connection with the acquisition as of August 30, 2023: (In millions) Daggett 2 Cash $ 1 Restricted cash (a) 119 Property, plant and equipment 379 Right-of-use assets, net 22 Derivative assets 22 Total assets acquired 543 Long-term debt (b) 308 Long-term lease liabilities 23 Other current and non-current liabilities 28 Total liabilities assumed 359 Noncontrolling interests 213 Net assets acquired less noncontrolling interests $ (29) (a) Includes funds that were contributed by the cash equity investor and tax equity investor, which were primarily used to pay off the tax equity bridge loan when the facility reached substantial completion on December 22, 2023, as further discussed in Note 10, Long-term Debt . (b) Includes a $107 million construction loan and $204 million tax equity bridge loan, offset by $3 million in unamortized debt issuance costs. See Note 10, Long-term Debt , for further discussion of the long-term debt assumed in the acquisition. Daggett 3 Drop Down — On February 17, 2023, the Company, through its indirect subsidiary, Daggett Solar Investment LLC, acquired the Class A membership interests in Daggett TargetCo LLC, the indirect owner of Daggett 3, a 300 MW solar facility that is paired with a 149 MW BESS facility located in San Bernardino, California, from Clearway Renew for cash consideration of $21 million. Simultaneously, a cash equity investor acquired the Class B membership interests in Daggett TargetCo LLC from Clearway Renew for cash consideration of $129 million. The Company and the cash equity investor contributed their Class A and B membership interests, respectively, into Daggett Renewable Holdco LLC, a partnership that consolidates Daggett TargetCo LLC. Daggett TargetCo LLC consolidates as primary beneficiary, Daggett TE Holdco LLC, a tax equity fund that owns the Daggett 3 solar facility, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities. Daggett 3 has PPAs with investment-grade counterparties that have a 15-year weighted average contract duration that commenced between July 2023 and November 2023. The Daggett 3 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 Daggett 3 on a prospective basis in its financial statements. The assets and liabilities transferred to the Company relate to interests under common control and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues . The difference between the cash paid of $21 million and the historical cost of the Company’s net assets acquired of $15 million was recorded as an adjustment to CEG’s noncontrolling interest balance. In addition, the Company reflected the entire $21 million of the Company’s purchase price, which was contributed back to the Company by CEG to pay down the acquired long-term debt, in the line item distributions to CEG, net of contributions, in the consolidated statements of stockholders’ equity. The following is a summary of assets and liabilities transferred in connection with the acquisition as of February 17, 2023: (In millions) Daggett 3 Restricted cash $ 4 Property, plant and equipment 534 Right-of-use assets, net 31 Derivative assets 27 Total assets acquired 596 Long-term debt (a) 480 Long-term lease liabilities 33 Other current and non-current liabilities (b) 68 Total liabilities assumed 581 Net assets acquired $ 15 (a) Includes a $181 million construction loan, $75 million cash equity bridge loan and $229 million tax equity bridge loan, offset by $5 million in unamortized debt issuance costs. See Note 10, Long-term Debt , for further discussion of the long-term debt assumed in the acquisition. (b) Includes $32 million of facility costs that were subsequently funded by CEG. Subsequent to the acquisition date, CEG funded an additional $22 million in facility costs. The combined $54 million funded by CEG was repaid to CEG in October 2023.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The Company’s major classes of property, plant, and equipment were as follows: December 31, 2024 December 31, 2023 Depreciable Lives (In millions) Facilities and equipment $ 13,302 $ 11,426 3 - 40 Years Land and improvements 537 365 Construction in progress (a) (b) 191 1,220 Total property, plant and equipment 14,030 13,011 Accumulated depreciation (4,086) (3,485) Net property, plant and equipment $ 9,944 $ 9,526 (a) As of December 31, 2024 and 2023, construction in progress included $23 million and $21 million, respectively, of capital expenditures that relate to prepaid long-term service agreements for facilities in the Flexible Generation segment. (b) As of December 31, 2024 and 2023, construction in progress included $9 million and $72 million, respectively, of accrued non-cash capital expenditures. Depreciation expense related to property, plant and equipment during the years ended December 31, 2024, 2023 and 2022 was $610 million, $514 million and $502 million, respectively. The Company recorded long-lived asset impairments during the years ended December 31, 2023 and 2022, as further described in Note 9, Asset Impairments.

Investments Accounted for by th

Investments Accounted for by the Equity Method and Variable Interest Entities	12 Months Ended
	Dec. 31, 2024
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 Equity Method Investments The following table reflects the Company’s equity investments in unconsolidated affiliates as of December 31, 2024: Name Economic Interest Investment Balance (a) (In millions) Avenal 50% $ 9 Desert Sunlight 25% 217 Elkhorn Ridge 66.7% 7 GenConn (b) 50% 75 San Juan Mesa 75% 1 $ 309 (a) The Company’s maximum exposure to loss is limited to its investment balances. (b) GenConn is a VIE. As of December 31, 2024 and 2023, the Company had $20 million and $17 million, respectively, of undistributed earnings from its equity method investments. The Company acquired its interest in Desert Sunlight on June 30, 2015, for $285 million, which resulted in a $181 million difference between the purchase price and the basis of the acquired assets and liabilities. The difference is attributable to the fair value of the property, plant and equipment and PPAs. The Company is amortizing the related basis differences to equity in earnings of unconsolidated subsidiaries over the related useful life of the underlying assets acquired. As of December 31, 2024, the carrying value of the basis difference is $115 million. The Company’s pro-rata share of non-recourse debt held by unconsolidated affiliates was $282 million as of December 31, 2024. Rosie Central BESS — On June 30, 2023, the Company, through its indirect subsidiary, Rosie Class B LLC, the indirect owner of the Rosamond Central solar facility, became the owner of the Class B membership interests of Rosie Central BESS in order to facilitate and fund the construction of a BESS facility that is co-located at the Rosamond Central solar facility. Clearway Renew indirectly owns the Class A membership interests and controls Rosie Central BESS. The Company accounted for its investment in Rosie Central BESS as an equity method investment. On June 13, 2024, when the Rosamond Central BESS facility reached substantial completion, Clearway Renew redeemed Rosie Class B LLC’s entire investment of $28 million in Rosie Central BESS utilizing the additional purchase price paid by the Company, as further described in Note 3, Acquisitions. Rosie Class B LLC’s equity investment in Rosie Central BESS was comprised of contributions from the Company and the cash equity investor in Rosie TargetCo LLC during the year ended December 31, 2023. The following tables present summarized financial information for the Company’s equity method investments: Year Ended December 31, 2024 2023 2022 Income Statement Data: (In millions) Desert Sunlight Operating revenues $ 206 $ 202 $ 203 Operating income 146 144 137 Net income 113 108 114 Other (a) Operating revenues 95 94 102 Operating income 25 23 34 Net income 16 13 22 As of December 31, 2024 2023 Balance Sheet Data: (In millions) Desert Sunlight Current assets $ 81 $ 80 Non-current assets 1,086 1,131 Current liabilities 63 61 Non-current liabilities 726 776 Other (b) Current assets 63 58 Non-current assets 391 429 Current liabilities 27 28 Non-current liabilities 225 243 (a) Includes Avenal, Elkhorn Ridge, GenConn and San Juan Mesa. (b) Includes Avenal, Elkhorn Ridge, GenConn and San Juan Mesa as of December 31, 2024 and 2023. Includes Rosie Central BESS only as of December 31, 2023 since the equity investment was redeemed on June 13, 2024, as further described above. Variable Interest Entities, or VIEs Entities that are Consolidated The Company has a controlling financial interest in certain entities which have been identified as VIEs under ASC 810, Consolidations . These arrangements are primarily related to tax equity arrangements entered into with third parties in order to monetize certain tax credits associated with wind, solar and BESS facilities. The Company also has a controlling financial interest in certain partnership arrangements with third-party investors, which also have been identified as VIEs. Under the Company’s arrangements that have been identified as VIEs, the third-party investors are allocated earnings, tax attributes and distributable cash in accordance with the respective limited liability company agreements. Many of these arrangements also provide a mechanism to facilitate achievement of the investor’s specified return by providing incremental cash distributions to the investor at a specified date if the specified return has not yet been achieved. The following is a summary of significant activity during 2024 related to the Company’s consolidated VIEs: DGPV Funds On December 31, 2024, Chestnut Fund Class B LLC, an indirect subsidiary of the Company, acquired 100% of the Class A membership interests in Chestnut Fund LLC, a tax equity fund that owns several distributed solar facilities, from the tax equity investor for $5 million. Prior to the acquisition, the Company consolidated Chestnut Fund LLC through its ownership of the Class B membership interests and role as managing member, and the Class A membership interests were reflected as redeemable noncontrolling interest on the Company’s consolidated balance sheet. The difference between the historical cost of the Company’s redeemable noncontrolling interest of $12 million and the cash paid of $5 million was recorded as adjustments to additional paid-in capital and CEG’s noncontrolling interest balance. Cedro Hill TE Holdco LLC On December 27, 2024, when the repowering of the Cedro Hill wind facility reached substantial completion, tax equity investors contributed $152 million to acquire the Class A membership interests in Cedro Hill TE Holdco LLC, as further described in Note 10, Long-term Debt . The Company, through its indirect subsidiary, Cedro Hill Class B Member LLC, consolidates as primary beneficiary, Cedro Hill TE Holdco LLC, a tax equity fund that owns the Cedro Hill wind facility. The Class A membership interests in Cedro Hill TE Holdco LLC are reflected as noncontrolling interest on the Company’s consolidated balance sheet. Spring Canyon On December 17, 2024, Spring Canyon TE Holdco LLC, an indirect subsidiary of the Company, acquired 100% of the Class A membership interests in Spring Canyon Expansion Holdings LLC, a tax equity fund that owns the Spring Canyon wind facilities, from the tax equity investor for $7 million. Prior to the acquisition, the Company consolidated Spring Canyon Expansion Holdings LLC through its controlling interest in Spring Canyon Expansion Class B Holdings LLC, a partnership, which owns the Class B membership interests, and role as managing member, and the Class A membership interests were reflected as noncontrolling interest on the Company’s consolidated balance sheet. The difference between the cash paid of $7 million and the historical cost of the Company’s noncontrolling interest of $3 million was recorded as adjustments to additional paid-in capital and CEG’s noncontrolling interest balance. Dan’s Mountain TargetCo LLC As described in Note 3, Acquisitions , on November 18, 2024, Dan’s Mountain Parent Holdco LLC, an indirect subsidiary of the Company, acquired the Class A membership interests in Dan’s Mountain TargetCo LLC, which is a partnership between the Company and Clearway Renew. The Company consolidates Dan’s Mountain TargetCo LLC as a VIE as the Company is the primary beneficiary through its role as managing member. Through its membership interests in Dan’s Mountain TargetCo LLC, the Company receives 50% of distributable cash. The Company recorded the noncontrolling interest of Clearway Renew’s Class B membership interests in Dan’s Mountain TargetCo LLC at historical carrying amount, with the offset to additional paid-in capital. Dan’s Mountain TargetCo LLC consolidates as primary beneficiary and through its ownership of the Class B membership interests, Dan’s Mountain Tax Credit Holdco LLC, a tax equity fund that owns the Dan’s Mountain wind facility. The Class A membership interests in Dan’s Mountain Tax Credit Holdco LLC are held by a tax equity investor and are reflected as noncontrolling interest on the Company’s consolidated balance sheet. Cedar Creek TE Holdco LLC As described in Note 3, Acquisitions , on April 16, 2024, the Company, through its indirect subsidiary, Cedar Creek Wind Holdco LLC, acquired Cedar Creek Holdco LLC. Cedar Creek Holdco LLC consolidates as primary beneficiary, Cedar Creek TE Holdco LLC, a tax equity fund that owns the Cedar Creek wind facility. The Class A membership interests in Cedar Creek TE Holdco LLC are held by a tax equity investor and are reflected as noncontrolling interest on the Company’s consolidated balance sheet. Lighthouse Renewable Holdco 2 LLC As described in Note 3, Acquisitions , on March 15, 2024, TSN1 TE Holdco LLC, an indirect subsidiary of the Company, acquired Texas Solar Nova 2. The Company, through Lighthouse Renewable Holdco 2 LLC, a partnership, consolidates TSN1 TE Holdco LLC, a tax equity fund that owns Texas Solar Nova 1 and Texas Solar Nova 2. The Company recorded the noncontrolling interest of the cash equity investor in Lighthouse Renewable Holdco 2 LLC at historical carrying amount, with the offset to additional paid-in capital. The Class A membership interests in TSN1 TE Holdco LLC are held by a tax equity investor and are reflected as noncontrolling interest on the Company’s consolidated balance sheet. Daggett Renewable Holdco LLC Effective January 1, 2024, the Company and the cash equity investor in Daggett Renewable HoldCo LLC and Daggett 2 TargetCo LLC, the indirect owner of the Daggett 2 solar and BESS facility, agreed to transfer Daggett 2 TargetCo LLC to Daggett Renewable Holdco LLC. As the transfer was among entities under common control, the transaction was recognized at historical cost and no gain or loss was recognized. Summarized financial information for the Company’s consolidated VIEs consisted of the following as of December 31, 2024: (In millions) Buckthorn Holdings, LLC Cedar Creek TE Holdco LLC Cedro Hill TE Holdco LLC Daggett Renewable Holdco LLC (a) DGPV Funds (b) Lighthouse Renewable Holdco LLC (c) Lighthouse Renewable Holdco 2 LLC (d) Other current and non-current assets $ 3 $ 40 $ 62 $ 152 $ 26 $ 67 $ 143 Property, plant and equipment 178 313 213 946 217 393 1,296 Intangible assets — — — — — — 2 Total assets 181 353 275 1,098 243 460 1,441 Total liabilities 13 118 31 447 26 136 569 Noncontrolling interest 5 113 145 796 3 240 668 Net assets less noncontrolling interest $ 163 $ 122 $ 99 $ (145) $ 214 $ 84 $ 204 (a) Daggett Renewable Holdco LLC consolidates Daggett TE Holdco LLC and Daggett 2 TE Holdco LLC, which are consolidated VIEs. (b) DGPV Funds is comprised of Clearway & EFS Distributed Solar LLC, Golden Puma Fund LLC and Renew Solar CS4 Fund LLC, which are all tax equity funds. (c) Lighthouse Renewable Holdco LLC consolidates Black Rock TE Holdco LLC and Mililani TE Holdco LLC, which are consolidated VIEs. (d) Lighthouse Renewable Holdco 2 LLC consolidates Mesquite Sky TE Holdco LLC, Mesquite Star Tax Equity Holdco LLC and TSN1 TE Holdco LLC, which are consolidated VIEs. (In millions) Oahu Solar LLC Rattlesnake TE Holdco LLC Rosie TargetCo LLC VP-Arica TargetCo LLC (a) Wildorado TE Holdco LLC Other (b) Other current and non-current assets $ 37 $ 13 $ 62 $ 66 $ 26 $ 62 Property, plant and equipment 149 165 527 988 178 488 Intangible assets — — — 2 — 13 Total assets 186 178 589 1,056 204 563 Total liabilities 22 17 218 40 18 315 Noncontrolling interest 20 74 256 308 81 150 Net assets less noncontrolling interest $ 144 $ 87 $ 115 $ 708 $ 105 $ 98 (a) VP-Arica TargetCo LLC consolidates VP-Arica TE Holdco LLC, a consolidated VIE that owns the Victory Pass and Arica solar and BESS facilities. (b) Other is comprised of Dan’s Mountain TargetCo LLC, which consolidates Dan’s Mountain Tax Credit Holdco LLC, Elbow Creek TE Holdco LLC, Langford TE Partnership LLC, Pinnacle Repowering TE Holdco LLC and the Spring Canyon facilities.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2024
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 approximates fair value because of the short-term maturity of those instruments and are classified as Level 1 within the fair value hierarchy. The carrying amount and estimated fair value of the Company’s recorded financial instrument not carried at fair market value or that does not approximate fair value is as follows: As of December 31, 2024 As of December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Liabilities: Long-term debt, including current portion (a) $ 7,237 $ 6,715 $ 8,102 $ 7,611 (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 December 31, 2024 As of December 31, 2023 Level 2 Level 3 Level 2 Level 3 (In millions) Long-term debt, including current portion $ 1,922 $ 4,793 $ 1,939 $ 5,672 Recurring Fair Value Measurements The Company records its derivative assets and liabilities at fair market value on its consolidated balance sheets. 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 December 31, 2024 As of December 31, 2023 Fair Value (a) Fair Value (a) (In millions) Level 2 (b) Level 3 Level 2 (b) Level 3 Derivative assets Energy-related commodity contracts (c) $ — $ 9 $ 2 $ — Interest rate contracts 166 — 121 — Other financial instruments (d) — 10 — 13 Total assets $ 166 $ 19 $ 123 $ 13 Derivative liabilities Energy-related commodity contracts (e) $ — $ 371 $ — $ 330 Interest rate contracts — — 2 — Total liabilities $ — $ 371 $ 2 $ 330 (a) There were no derivative assets or liabilities classified as Level 1 as of December 31, 2024 and 2023. (b) The Company’s interest rate swaps are measured at fair value using an income approach, which use readily observable inputs, such as forward interest rates (e.g., SOFR) and contractual terms to estimate fair value. (c) Includes long-term backbone transportation service contracts classified as Level 2 and heat rate call option contracts classified as Level 3. (d) Includes SREC contract. (e) Includes long-term power commodity contracts and heat rate call option contracts classified as Level 3. As of December 31, 2024 and 2023, $366 million and $325 million related to long-term power commodity contracts, respectively, and $5 million related to heat rate call option contracts. 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: Year ended December 31, 2024 2023 (In millions) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Beginning balance $ (317) $ (336) Settlements (2) 28 Total losses for the period included in earnings (33) (9) Ending balance $ (352) $ (317) Change in unrealized losses included in earnings for derivatives and other financial instruments held as of December 31, $ (33) $ (9) 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-related commodity contracts, which includes long-term power commodity contracts and heat rate call option 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 December 31, 2024, contracts valued with prices provided by models and other valuation techniques make up 5% of derivative assets, 100% of derivative liabilities and 100% of other financial instruments. The Company’s significant positions classified as Level 3 relate to physical and financial energy-related commodity contracts, including long-term power commodity contracts and heat rate call option 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 tables quantify the significant unobservable inputs used in developing the fair value of the Company’s Level 3 positions: December 31, 2024 Fair Value Input/Range Assets Liabilities Valuation Technique Significant Unobservable Input Low High Weighted Average (In millions) Long-term Power Commodity Contracts $ — $ 366 Discounted Cash Flow Forward Market Price (per MWh) $ 21.60 $ 80.82 $ 45.44 Heat Rate Call Option Commodity Contracts 9 5 Option Model Forward Market Price (per MWh) $ (19.30) $ 1,011.79 $ 45.87 Option Model Forward Market Price (per MMBtu) $ 0.85 $ 10.55 $ 3.25 Other Financial Instruments 10 — Discounted Cash Flow Forecast annual generation levels of certain DG solar facilities 59,425 MWh 118,850 MWh 111,091 MWh December 31, 2023 Fair Value Input/Range Assets Liabilities Valuation Technique Significant Unobservable Input Low High Weighted Average (In millions) Long-term Power Commodity Contracts $ — $ 325 Discounted Cash Flow Forward Market Price (per MWh) $ 18.18 $ 81.62 $ 39.91 Heat Rate Call Option Commodity Contracts — 5 Option Model Forward Market Price (per MWh) $ (43.96) $ 343.61 $ 64.34 Option Model Forward Market Price (per MMBtu) $ 1.25 $ 13.69 $ 4.93 Other Financial Instruments 13 — Discounted Cash Flow Forecast annual generation levels of certain DG solar facilities 60,801 MWh 121,602 MWh 115,622 MWh The following table provides the impact on the fair value measurements to increases/(decreases) in significant unobservable inputs as of December 31, 2024 and 2023 : Type Significant Observable Input Position Change In Input Impact on Fair Value Measurement Energy-Related Commodity Contracts Forward Market Price Power Sell Increase/(Decrease) Lower/(Higher) Energy-Related Commodity Contracts Forward Market Price Gas Sell Increase/(Decrease) Higher/(Lower) Other Financial Instruments 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 December 31, 2024, the non-performance reserve was a $16 million gain recorded primarily to total operating revenues in the consolidated statements of income. 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 in Note 2, Summary of Significant Accounting Policies , 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. Counterparty credit exposure includes credit risk exposure under certain long-term agreements, including solar and other PPAs. As external sources or observable market quotes are not available to estimate such exposure, the Company estimates the exposure related to these contracts based on various techniques including, but not limited to, internal models based on a fundamental analysis of the market and extrapolation of observable market data with similar characteristics. A significant portion of these energy-related commodity contracts are with utilities with strong credit quality and public utility commission or other regulatory support. However, such regulated utility counterparties can be impacted by changes in government regulations or adverse financial conditions, which the Company is unable to predict. Certain subsidiaries of the Company sell the output of their facilities to PG&E, a significant counterparty of the Company, under long-term PPAs, and PG&E’s credit rating is below investment-grade.

Accounting for Derivative Instr

Accounting for Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Accounting for Derivative Instruments and Hedging Activities	Accounting for Derivative Instruments and Hedging Activities ASC 815 requires the Company to recognize all derivative instruments on the balance sheet as either assets or liabilities and to measure them at fair value each reporting period unless they qualify for a NPNS exception. The Company may elect to designate certain derivatives as cash flow hedges, if certain conditions are met, and defer the change in fair value of the derivatives to accumulated OCI/OCL, until the hedged transactions occur and are recognized in earnings. For derivatives that are not designated as cash flow hedges or do not qualify for hedge accounting treatment, the changes in the fair value will be immediately recognized in earnings. Certain derivative instruments may qualify for the NPNS exception and are therefore exempt from fair value accounting treatment. ASC 815 applies to the Company’s energy-related commodity contracts and interest rate swaps. 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 December 31, 2024, the Company had interest rate derivative instruments on non-recourse debt extending through 2033, 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 Commodity Contracts As of December 31, 2024, the Company had energy-related derivative instruments extending through 2033. At December 31, 2024, 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: Total Volume December 31, 2024 December 31, 2023 Commodity Units (In millions) Power MWh (25) (23) Natural Gas MMBtu 11 17 Interest Dollars $ 1,769 $ 2,467 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 December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 (In millions) Derivatives Designated as Cash Flow Hedges: Interest rate contracts current $ 5 $ 7 $ — $ — Interest rate contracts long-term 22 12 — 2 Total Derivatives Designated as Cash Flow Hedges $ 27 $ 19 $ — $ 2 Derivatives Not Designated as Cash Flow Hedges: Interest rate contracts current $ 30 $ 33 $ — $ — Interest rate contracts long-term 109 69 — — Energy-related commodity contracts current 4 1 56 51 Energy-related commodity contracts long-term 5 1 315 279 Total Derivatives Not Designated as Cash Flow Hedges $ 148 $ 104 $ 371 $ 330 Total Derivatives $ 175 $ 123 $ 371 $ 332 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 December 31, 2024 and 2023, the amount of outstanding collateral paid or received was immaterial. The following tables summarize the offsetting of derivatives by counterparty: Gross Amounts Not Offset in the Statement of Financial Position As of December 31, 2024 Gross Amounts of Recognized Assets/Liabilities Derivative Instruments Net Amount Energy-related commodity contracts (In millions) Derivative assets $ 9 $ — $ 9 Derivative liabilities (371) — (371) Total energy-related commodity contracts $ (362) $ — $ (362) Interest rate contracts Derivative assets $ 166 $ — $ 166 Total interest rate contracts $ 166 $ — $ 166 Total derivative instruments $ (196) $ — $ (196) Gross Amounts Not Offset in the Statement of Financial Position As of December 31, 2023 Gross Amounts of Recognized Assets/Liabilities Derivative Instruments Net Amount Energy-related commodity contracts (In millions) Derivative assets $ 2 $ — $ 2 Derivative liabilities (330) — (330) Total energy-related commodity contracts $ (328) $ — $ (328) Interest rate contracts Derivative assets $ 121 $ (2) $ 119 Derivative liabilities (2) 2 — Total interest rate contracts $ 119 $ — $ 119 Total derivative instruments $ (209) $ — $ (209) Accumulated Other Comprehensive Income (Loss) The following table summarizes the effects on the Company’s accumulated OCI (OCL) balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax: Year ended December 31, 2024 2023 2022 (In millions) Accumulated OCI (OCL) beginning balance $ 18 $ 24 $ (11) Reclassified from accumulated OCI (OCL) to income due to realization of previously deferred amounts (1) (4) 4 Capistrano Wind Portfolio Acquisition (a) — — 7 Mark-to-market of cash flow hedge accounting contracts (3) (2) 24 Accumulated OCI ending balance, net of income tax expense of $1, $2 and $3, respectively 14 18 24 Accumulated OCI attributable to noncontrolling interests 11 11 15 Accumulated OCI attributable to Clearway Energy, Inc. $ 3 $ 7 $ 9 Income expected to be realized from OCI during the next 12 months, net of income tax expense of $1 $ 1 (a) Represents $4 million attributable to Clearway Energy, Inc. and $3 million attributable to noncontrolling interests. Amounts reclassified from accumulated OCI (OCL) into income are recorded to interest expense. Impact of Derivative Instruments on the Consolidated Statements of Income Mark-to-market gains/(losses) related to the Company’s derivatives are recorded in the consolidated statements of income as follows: Year ended December 31, 2024 2023 2022 (In millions) Interest Rate Contracts (Interest expense) $ 29 $ (17) $ 100 Energy-Related Commodity Contracts (Mark-to-market for economic hedging activities included in Total operating revenues) (a) (32) 23 (174) Energy-Related Commodity Contracts (Mark-to-market for economic hedging activities included in Cost of operations) (b) (2) 2 — (a) Relates to long-term energy-related commodity contracts at Elbow Creek, Mesquite Star, Mt. Storm, Langford and Mesquite Sky and heat rate call option energy-related commodity contracts at El Segundo, Marsh Landing and Walnut Creek. (b) Relates to long-term backbone transportation service energy-related commodity contracts at El Segundo and Walnut Creek. See Note 6, Fair Value of Financial Instruments , for a discussion regarding concentration of credit risk.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible Assets — The Company’s intangible assets as of December 31, 2024 and 2023 primarily reflect intangible assets established from its business acquisitions and are comprised of the following: • PPAs — Established predominantly with the acquisitions of the Alta Wind Portfolio, Tapestry, Laredo Ridge, Carlsbad Energy Center, Agua Caliente, the Utah Solar Portfolio and the Capistrano Wind Portfolio. These represent the fair value of the PPAs acquired. These are amortized on a straight-line basis, over the term of the PPA. • Leasehold Rights — Established with the acquisition of the Alta Wind Portfolio, this represents the fair value of contractual rights to receive royalty payments equal to a percentage of PPA revenue from certain facilities. These are amortized as a reduction to operating revenue on a straight-line basis over the term of the PPAs. • Emission Allowances — These intangibles primarily consist of SO 2 and NO x emission allowances established with the El Segundo, Walnut Creek and Carlsbad Energy Center acquisitions. These emission allowances are held-for-use and are amortized to cost of operations, with NO x allowances amortized on a straight-line basis and SO 2 allowances amortized based on units of production. • Other — Consists of a) the acquisition date fair value of the contractual rights to a ground lease for South Trent and to utilize certain interconnection facilities for Blythe as well as land rights acquired in connection with the acquisition of Elbow Creek; b) development rights related to certain solar business acquisitions; c) purchased software for certain solar facilities; d) RECs acquired in connection with the acquisition of the Utah Solar Portfolio; and e) favorable land leases acquired in connection with the acquisition of the Utah Star Portfolio. The following tables summarize the components of intangible assets subject to amortization: Year ended December 31, 2024 PPAs Leasehold Rights Emission Allowances Other Total (In millions) January 1, 2024 $ 3,265 $ 86 $ 17 $ 15 $ 3,383 Other — — — 4 4 December 31, 2024 3,265 86 17 19 3,387 Less accumulated amortization (1,140) (42) (5) (7) (1,194) Net carrying amount $ 2,125 $ 44 $ 12 $ 12 $ 2,193 Year ended December 31, 2023 PPAs Leasehold Rights Emission Allowances Other Total (In millions) January 1, 2023 $ 3,321 $ 86 $ 17 $ 18 $ 3,442 Walnut Creek PPA expiration (50) — — — (50) Other (6) — — (3) (9) December 31, 2023 3,265 86 17 15 3,383 Less accumulated amortization (962) (38) (4) (5) (1,009) Net carrying amount $ 2,303 $ 48 $ 13 $ 10 $ 2,374 The Company recorded amortization expense of $184 million, $186 million and $174 million during the years ended December 31, 2024, 2023 and 2022, respectively. Of these amounts, $178 million, $181 million and $168 million during the years ended December 31, 2024, 2023 and 2022, respectively, were related to the amortization of intangible assets for PPAs and were recorded to contract amortization expense, which reduced operating revenues in the consolidated statements of income. The Company estimates the future amortization expense for its intangibles for the next five years as follows: (In millions) 2025 $ 185 2026 185 2027 185 2028 185 2029 185

Asset Impairments

Asset Impairments	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Asset Impairments	Asset Impairments 2023 Impairment Losses During the fourth quarter of 2023, in preparation and review of its annual budget, the Company updated its long-term estimates of operating and capital expenditures and revised its assessment of long-term merchant power prices, which was primarily informed by present conditions and did not contemplate future policy changes, which could impact renewable energy power prices. The impairment analysis reviews certain qualitative factors as well as the results of long-term operating expectations and its carrying value to determine if impairment indicators are present. The impairment analysis indicated that the projected future cash flows for certain facilities within the Renewables segment no longer supported the recoverability of the carrying value of the related long-lived assets. As such, the Company recorded an impairment loss of $12 million, which primarily related to property, plant, and equipment to reflect the assets at fair market value. The fair value of the facilities was determined using an income approach by applying a discounted cash flow methodology to the updated long-term budgets for each respective plant. The income approach included key inputs such as forecasted merchant power prices, operations and maintenance expense, and discount rates. The resulting fair value is a Level 3 fair value measurement. 2022 Impairment Losses The impairment analysis indicated that the projected future cash flows for certain facilities within the Renewables segment no longer supported the recoverability of the carrying value of the related long-lived assets. As such, the Company recorded an impairment loss of $16 million, which primarily related to property, plant, and equipment to reflect the assets at fair market value. The fair value of the facilities was determined using an income approach by applying a discounted cash flow methodology to the updated long-term budgets for each respective plant. The income approach included key inputs such as forecasted merchant power prices, operations and maintenance expense, and discount rates. The resulting fair value is a Level 3 fair value measurement.

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt The Company’s borrowings, including short-term and long-term portions, consisted of the following: December 31, 2024 December 31, 2023 Interest rate % (a)(b) Letters of Credit Outstanding at December 31, 2024 (In millions, except rates) 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 2028 (b) — — S+1.500 $ 103 Non-recourse facility level debt: Agua Caliente Solar LLC, due 2037 574 612 2.395-3.633 14 Alta Wind Asset Management LLC, due 2031 10 11 S+2.775 — Alta Wind I-V lease financing arrangements, due 2034 and 2035 609 660 5.696-7.015 67 Alta Wind Realty Investments LLC, due 2031 18 20 7.000 — Borrego, due 2038 45 48 5.650 4 Broken Bow, due 2031 (d) — 41 — Buckthorn Solar, due 2025 112 116 S+2.100 20 Capistrano Portfolio Holdco LLC, due 2033 (d) 118 — S+1.625 42 Carlsbad Energy Holdings LLC, due 2027 70 93 S+1.900 63 Carlsbad Energy Holdings LLC, due 2038 407 407 4.120 — Carlsbad Holdco, LLC, due 2038 193 195 4.210 5 Cedar Creek, due 2029 108 — S+1.625 19 Cedro Hill, due 2029 99 165 S+1.750 3 Crofton Bluffs, due 2031 (d) — 27 — CVSR, due 2037 573 601 2.339-3.775 — CVSR Holdco Notes, due 2037 143 152 4.680 12 Daggett 2, due 2028 155 156 S+1.762 32 Daggett 3, due 2028 217 217 S+1.762 44 Dan’s Mountain, due 2025 143 — S+1.250 5 DG-CS Master Borrower LLC, due 2040 356 385 3.510 30 Mililani Class B Member Holdco LLC, due 2028 90 92 S+1.600 18 Natural Gas Holdco LC Facility, due 2027 — — S+1.750 105 NIMH Solar, due 2031 and 2033 126 148 S+2.000-2.125 11 Oahu Solar Holdings LLC, due 2026 78 81 S+1.775 10 Rosie Class B LLC, due 2029 191 347 S+1.750 28 Texas Solar Nova 1, due 2028 (c) — 102 — TSN1 Class B Member LLC, due 2029 (c) 176 — S+1.750 52 Utah Solar Holdings, due 2036 228 242 3.590 154 Viento Funding II, LLC, due 2029 160 175 S+1.475 29 Victory Pass and Arica, due 2024 — 757 — Other 111 124 Various 49 Subtotal non-recourse facility-level debt 5,110 5,974 Total debt 7,235 8,099 Less current maturities (430) (558) Less net debt issuance costs (57) (65) Add premiums (e) 2 3 Total long-term debt $ 6,750 $ 7,479 (a) As of December 31, 2024, S+ equals SOFR plus x%. (b) Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement, and only applies to outstanding borrowings. (c) On March 15, 2024, Texas Solar Nova 1’s financing agreement was amended to merge the facility-level debt of Texas Solar Nova 1 and Texas Solar Nova 2 as a combined term loan under TSN1 Class B Member LLC. (d) On October 23, 2024, the outstanding debt of Broken Bow and Crofton Bluffs was paid off utilizing the proceeds from the Capistrano Portfolio Holdco LLC term loan that was issued on the same day. (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. Under the facility-level financing arrangements, each facility is permitted to pay distributions out of available cash as long as certain conditions are satisfied, including that no default under the applicable arrangements has occurred and that each facility is otherwise in compliance with all relevant conditions under the financing agreements, including meeting required financial ratios, where applicable. The Company’s facility-level financing arrangements are non-recourse to the Company, thus, each facility pledges its underlying assets as collateral, and if a facility is in default of its financing arrangement, then the related lender could demand repayment of the facility or enforce their security interests with respect to the pledged collateral. As of December 31, 2024, the Company was in compliance with all of the required covenants. Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility On March 15, 2023, Clearway Energy Operating LLC refinanced the Amended and Restated Credit Agreement, which (i) replaced LIBOR with SOFR plus a credit spread adjustment of 0.10% as the applicable reference rate, (ii) increased the available revolving commitments to an aggregate principal amount of $700 million, (iii) extended the maturity date to March 15, 2028, (iv) increased the letter of credit sublimit to $594 million and (v) implemented certain other technical modifications. Facility-level Debt Cedro Hill Repowering On December 12, 2023, the Company entered into a financing agreement for non-recourse debt for a total commitment of $254 million, which consists of construction loans, a tax equity bridge loan and a cash equity bridge loan, related to the repowering of the Cedro Hill wind facility. The Company’s initial borrowing of $165 million was utilized to repay the $72 million of outstanding principal under the original financing agreement, to pay $55 million to Clearway Renew for the future delivery of equipment, which was included in other non-current assets on the Company’s consolidated balance sheet, to pay $27 million to a third party for the future delivery of equipment, which was included in other non-current assets on the Company’s consolidated balance sheet, to pay a $4 million development services fee to Clearway Renew, to pay for $4 million in debt issuance costs that were deferred and to pay for $3 million in capital expenditures. During 2024, the $82 million of equipment was delivered, and therefore, is now included in property, plant and equipment, net on the Company’s consolidated balance sheet as of December 31, 2024. On December 27, 2024, when the repowering of the Cedro Hill wind facility reached substantial completion, tax equity investors contributed $152 million to acquire the Class A membership interests in Cedro Hill TE Holdco LLC, a tax equity fund that owns the Cedro Hill wind facility, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities . The tax equity proceeds were utilized, along with $54 million in construction loan proceeds, to repay the $138 million tax equity bridge loan, the $16 million cash equity bridge loan, to fund $38 million in construction completion and related reserves, which is included in restricted cash on the Company’s consolidated balance sheet, to pay $11 million in construction invoices and to pay $4 million in associated fees with the remaining $26 million distributed to CEG. Also at substantial completion, the outstanding construction loans were converted to a term loan in the amount of $99 million. Under the new financing agreement, the Company borrowed $88 million during 2024. Dan’s Mountain On November 18, 2024, as part of the acquisition of Dan’s Mountain, as further described in Note 3, Acquisitions, the Company assumed the facility’s financing agreement, which included a $77 million cash equity bridge loan and a $49 million tax equity bridge loan, offset by $1 million in unamortized debt issuance costs. A partial payment of $7 million was made on the cash equity bridge loan at acquisition date utilizing all of the proceeds from the Company, which were contributed back to the Company by CEG. The tax equity bridge loan and the remaining cash equity bridge loan will be repaid with the final proceeds received from the tax equity investor and the Company’s additional purchase price upon Dan’s Mountain reaching substantial completion, which is expected to occur in the first half of 2025, along with the $18 million that was contributed into escrow by the tax equity investor at acquisition date, which is included in restricted cash on the Company’s consolidated balance sheet. Subsequent to the acquisition, the Company borrowed an additional $24 million in tax equity bridge loans. Capistrano Portfolio Holdco LLC On October 23, 2024, the Company, through its indirect subsidiary, Capistrano Portfolio Holdco LLC, entered into a financing agreement, which included the issuance of a $121 million term loan, as well as $42 million in letters of credit in support of debt service and facility obligations, supported by the Company’s interests in the Broken Bow, Crofton Bluffs, Mountain Wind 1 and Mountain Wind 2 wind facilities. The Company utilized the proceeds from the term loan to pay off the existing debt in the amount of $63 million related to Broken Bow and Crofton Bluffs and to pay related financing costs. Natural Gas Holdco LC Facility On July 25, 2024, the Company, through its indirect subsidiary, Natural Gas Holdco, entered into a financing agreement that provides for a $200 million letter of credit facility, which is being utilized to support the collateral needs of the merchant facilities in the Flexible Generation segment. The letter of credit facility has an initial term of three years and the option for two additional one-year extensions. Rosamond Central (Rosie Class B LLC) On June 30, 2023, Rosie Class B LLC, the indirect owner of the Rosamond Central solar facility, amended its financing agreement to provide for (i) a refinanced term loan in the amount of $77 million, (ii) construction loans up to $115 million, (iii) tax equity bridge loans up to $188 million, (iv) an increase to the letter of credit sublimit to $41 million and (v) an extension of the maturity date of the term loan and construction loans to June 13, 2029. On July 3, 2023, Rosie Class B LLC issued a loan to Clearway Renew, utilizing a portion of the loan proceeds under the amended financing agreement, in order to finance the construction of the BESS facility. On December 1, 2023, the Rosamond Central solar facility acquired the BESS facility from Clearway Renew for initial cash consideration of $70 million, as further discussed in Note 3, Acquisitions , and Clearway Renew utilized the funds to partially repay the loan. On June 13, 2024, when the Rosamond Central BESS facility reached substantial completion, Clearway Renew repaid the $184 million outstanding loan balance owed to Rosie Class B LLC utilizing the additional purchase price of $279 million paid by the Company, as further described in Note 3, Acquisitions . The Company utilized the proceeds from Clearway Renew, along with $39 million held previously in escrow and $56 million of the Company’s additional purchase price that was contributed back to the Company by CEG, to repay the $186 million tax equity bridge loan, to distribute $44 million to the cash equity investor, to fund $21 million in construction completion reserves, which is included in restricted cash on the Company’s consolidated balance sheet, and to pay $11 million in associated fees. Additionally, on June 13, 2024, the outstanding construction loans were converted to a term loan in the amount of $115 million. Under the amended financing agreement, the Company borrowed $271 million during 2023 and $30 million during 2024. NIMH Solar On June 11, 2024, the Company, through its indirect subsidiary, NIMH Solar LLC, refinanced its amended and restated credit agreement, which was scheduled to mature in September 2024, resulting in the issuance of a $137 million term loan facility, as well as $17 million in letters of credit in support of debt service and facility obligations. The obligations under the new financing arrangement are supported by the Company’s interests in the Alpine, Blythe and Roadrunner solar facilities. The Company utilized the proceeds from the term loan and existing sources of liquidity to pay off the existing debt in the amount of $146 million. Victory Pass and Arica On October 31, 2023, as part of the acquisition of Victory Pass and Arica, as further described in Note 3, Acquisitions, the Company assumed the facility’s financing agreement, which included a $483 million cash equity bridge loan and a $385 million tax equity bridge loan, offset by $4 million in unamortized debt issuance costs. A partial payment of $133 million was made on the cash equity bridge loan at acquisition date utilizing all of the proceeds from the Company, which were contributed back to the Company by CEG, and the contribution from the cash equity investor. On May 1, 2024, when the facilities reached substantial completion, the Company paid $165 million to Clearway Renew as additional purchase price, as further described in Note 3, Acquisitions , the cash equity investor contributed an additional $347 million, the tax equity investor contributed an additional $410 million and CEG contributed $52 million, which were utilized, along with $103 million held previously in escrow, to repay the $351 million cash equity bridge loan, to repay the $468 million tax equity bridge loan, to fund $75 million in construction completion reserves, which is included in restricted cash on the Company’s consolidated balance sheet, and to pay $18 million in associated fees. Subsequent to the acquisition, the Company borrowed an additional $22 million during 2023 and $62 million during 2024. Cedar Creek On April 16, 2024, as part of the acquisition of Cedar Creek, as further described in Note 3, Acquisitions , the Company assumed the facility’s financing agreement, which included a $112 million construction loan, a $91 million cash equity bridge loan and a $109 million tax equity bridge loan, offset by $3 million in unamortized debt issuance costs. At acquisition date, the tax equity investor contributed $108 million, which was utilized, along with the Company’s entire purchase price that was contributed back to the Company by CEG, to repay the tax equity bridge loan, to repay the cash equity bridge loan, to partially repay $2 million in construction loans, to fund $16 million in construction completion reserves, which is included in restricted cash on the Company’s consolidated balance sheet, and to pay $6 million in associated fees. Also at acquisition date, the outstanding construction loans were converted to a term loan in the amount of $110 million. Texas Solar Nova 1 and Texas Solar Nova 2 On December 28, 2023, as part of the acquisition of Texas Solar Nova 1, as further described in Note 3, Acquisitions , the Company assumed the facility’s financing agreement, which included a $90 million construction loan, $109 million cash equity bridge loan and $151 million tax equity bridge loan, offset by $1 million in unamortized debt issuance costs. At acquisition date, the tax equity investor contributed $148 million, which was utilized, along with the Company’s entire purchase price that was contributed back to the Company by CEG and the proceeds from the cash equity investor, to repay the $109 million cash equity bridge loan, to repay the $151 million tax equity bridge loan, to fund $18 million in construction completion reserves, which was included in restricted cash on the Company’s consolidated balance sheet, and to pay $5 million in associated fees with the remaining $9 million distributed back to CEG. Also at acquisition date, the $90 million construction loan was converted into a term loan in the amount of $102 million, which includes an additional borrowing of $12 million. On March 15, 2024, as part of the acquisition of Texas Solar Nova 2, as further described in Note 3, Acquisitions , the Company assumed the facility’s financing agreement, which included an $80 million term loan and a $115 million tax equity bridge loan, offset by $1 million in unamortized debt issuance costs. At acquisition date, the tax equity investor contributed $130 million, which was utilized, along with $9 million of the Company’s purchase price that was contributed back to the Company by CEG, to repay the $115 million tax equity bridge loan, to fund $19 million in construction completion reserves, which is included in restricted cash on the Company’s consolidated balance sheet, and to pay $4 million in associated fees. Additionally, on March 15, 2024, Texas Solar Nova 1’s financing agreement was amended to merge the Texas Solar Nova 1 and Texas Solar Nova 2 term loans as a combined term loan under TSN1 Class B Member LLC. Daggett 2 On August 30, 2023, as part of the acquisition of Daggett 2, as further described in Note 3, Acquisitions , the Company assumed the facility’s financing agreement, which included a $107 million construction loan and a $204 million tax equity bridge loan, offset by $3 million in unamortized debt issuance costs. On December 22, 2023, when the facility reached substantial completion, the tax equity investor contributed an additional $202 million, which was utilized, along with the $120 million in escrow and $10 million in construction loan proceeds, to repay the $204 million tax equity bridge loan, to fund $36 million in construction completion reserves, which was included in restricted cash on the Company’s consolidated balance sheet, and to pay $1 million in associated fees with the remaining $91 million distributed to CEG. Subsequent to the acquisition, the Company borrowed an additional $49 million in construction loans and the total outstanding construction loans were converted to a term loan in the amount of $156 million on December 22, 2023. Daggett 3 On February 17, 2023, as part of the acquisition of Daggett 3, as further described in Note 3, Acquisitions , the Company assumed the facility’s financing agreement, which included a $181 million construction loan, a $229 million tax equity bridge loan and a $75 million cash equity bridge loan, offset by $5 million in unamortized debt issuance costs. The cash equity bridge loan was repaid at acquisition date, along with $8 million in associated fees, utilizing all of the proceeds from the Company, which were contributed back to the Company by CEG, and the contribution from the cash equity investor. On December 1, 2023, when the facility reached substantial completion, the tax equity investor contributed an additional $252 million, which was utilized along with the $69 million in escrow, to repay the $229 million tax equity bridge loan, to fund $40 million in construction completion reserves, which was included in restricted cash on the Company’s consolidated balance sheet, and to pay $7 million in associated fees with the remaining $45 million distributed to CEG. Subsequent to the acquisition, the Company borrowed an additional $36 million in construction loans and the total outstanding construction loans were converted to a term loan in the amount of $217 million on December 1, 2023. Interest Rate Swaps — Facility Financings Many of the Company’s subsidiaries entered into interest rate swaps, intended to hedge the risks associated with interest rates on non-recourse facility level debt. These swaps amortize in proportion to their respective loans and are floating for a fixed rate where the subsidiary pays its counterparty the equivalent of a fixed interest payment on a predetermined notional amount and will receive quarterly the equivalent of a floating interest payment based on the same notional amount. All interest rate swap payments by the subsidiary and its counterparty are made quarterly and the SOFR is determined in advance of each interest period. The following table summarizes the swaps, some of which are forward starting as indicated, related to the Company’s facility level debt: % of Principal Fixed Interest Rate Floating Interest Rate Notional Amount at December 31, 2024 (In millions) Effective Date Maturity Date Avra Valley 85 % 2.20 % SOFR $ 26 March 31, 2023 January 31, 2031 Alta Wind Asset Management 100 % 2.22 % SOFR 10 May 22, 2013 May 15, 2031 Buckthorn Solar 80 % Various SOFR 90 February 28, 2018 December 31, 2041 Capistrano Portfolio Holdco 100 % Various SOFR 118 October 23, 2024 September 28, 2033 Carlsbad Energy Holdings 100 % Various SOFR 70 Various September 30, 2027 Cedar Creek 100 % 3.02 % SOFR 108 April 30, 2024 March 31, 2049 Cedro Hill 85 % Various SOFR 84 Various September 30, 2044 Daggett 2 89 % Various SOFR 137 March 29, 2024 March 31, 2043 Daggett 3 85 % Various SOFR 184 Various September 30, 2043 Dan’s Mountain 93 % 4.97 % SOFR 133 March 29, 2024 February 28, 2025 Kansas South 75 % 1.93 % SOFR 11 June 28, 2013 December 31, 2030 Mililani Class B 97 % Various SOFR 87 Various Various NIMH Solar 100 % 3.25 % SOFR 126 June 11, 2024 January 31, 2033 Oahu Solar 96 % 2.47 % SOFR 75 November 30, 2019 October 31, 2040 Rosie Class B 94 % Various SOFR 179 Various Various South Trent 90 % Various SOFR 18 Various June 30, 2028 TSN1 Class B 96 % Various SOFR 169 March 29, 2024 September 30, 2043 Viento Funding II 90 % 2.53 % SOFR 144 Various December 31, 2032 Total $ 1,769 Annual Maturities Annual payments based on the maturities of the Company’s debt, for the years ending after December 31, 2024, are as follows: (In millions) 2025 (a) $ 555 2026 393 2027 333 2028 1,626 2029 821 Thereafter 3,507 Total $ 7,235 (a) At December 31, 2024, amount includes $125 million of construction-related financings recorded in long-term debt on the Company’s consolidated balance sheet that is being funded through long-term equity contributions.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per common share is computed by dividing net income (loss) 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 earnings per share is computed in a manner consistent with that of basic 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 earnings per share is shown in the following table: Year Ended December 31, 2024 2023 2022 (In millions, except per share data) (a) Common Class A Common Class C Common Class A Common Class C Common Class A Common Class C Basic and diluted income per share attributable to Clearway Energy, Inc. common stockholders Net income attributable to Clearway Energy, Inc. $ 26 $ 62 $ 23 $ 56 $ 172 $ 410 Weighted average number of common shares outstanding — basic and diluted 35 83 35 82 35 82 Earnings per weighted average common share — basic and diluted $ 0.75 $ 0.75 $ 0.67 $ 0.67 $ 4.99 $ 4.99 (a)

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Equity, Attributable to Parent [Abstract]
Stockholders' Equity	Stockholders’ Equity At-the-Market Equity Offering Program, or the ATM Program Under the Company’s ATM Program, the Company may offer and sell shares of its Class C common stock from time to time up to an aggregate sales price of $150 million through an at-the-market equity offering program, or the ATM Program. During the years ended December 31, 2024, 2023 and 2022, the Company did not sell any Class C common stock shares under the ATM Program. As of December 31, 2024, approximately $126 million of Class C common stock remains available for issuance under the ATM Program. Dividends to Class A and Class C common stockholders The following tables list the dividends paid on the Company’s Class A and Class C common stock during the years ended December 31, 2024, 2023 and 2022: Fourth Quarter 2024 Third Quarter 2024 Second Quarter 2024 First Quarter 2024 Dividends per Class A share $ 0.4240 $ 0.4171 $ 0.4102 $ 0.4033 Dividends per Class C share 0.4240 0.4171 0.4102 0.4033 Fourth Quarter 2023 Third Quarter 2023 Second Quarter 2023 First Quarter 2023 Dividends per Class A share $ 0.3964 $ 0.3891 $ 0.3818 $ 0.3745 Dividends per Class C share 0.3964 0.3891 0.3818 0.3745 Fourth Quarter 2022 Third Quarter 2022 Second Quarter 2022 First Quarter 2022 Dividends per Class A share $ 0.3672 $ 0.3604 $ 0.3536 $ 0.3468 Dividends per Class C share 0.3672 0.3604 0.3536 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 February 17, 2025, the Company declared a quarterly dividend on its Class A and Class C common stock of $0.4312 per share payable on March 17, 2025 to stockholders of record as of March 3, 2025. The Company has also authorized 10,000,000 shares of preferred stock, par value $0.01 per share. None of the shares of preferred stock have been issued. Distributions to CEG The following tables list the distributions paid to CEG during the years ended December 31, 2024, 2023 and 2022 on Clearway Energy LLC’s Class B and D units: Fourth Quarter 2024 Third Quarter 2024 Second Quarter 2024 First Quarter 2024 Distributions per Class B unit $ 0.4240 $ 0.4171 $ 0.4102 $ 0.4033 Distributions per Class D unit 0.4240 0.4171 0.4102 0.4033 Fourth Quarter 2023 Third Quarter 2023 Second Quarter 2023 First Quarter 2023 Distributions per Class B unit $ 0.3964 $ 0.3891 $ 0.3818 $ 0.3745 Distributions per Class D unit 0.3964 0.3891 0.3818 0.3745 Fourth Quarter 2022 Third Quarter 2022 Second Quarter 2022 First Quarter 2022 Distributions per Class B unit $ 0.3672 $ 0.3604 $ 0.3536 $ 0.3468 Distributions per Class D unit 0.3672 0.3604 0.3536 0.3468 The portion of the distributions paid by Clearway Energy LLC to CEG is recorded as a reduction to the Company’s noncontrolling interest balance. The portion of the distributions paid by Clearway Energy LLC to the Company was utilized to fund the dividends to the Class A and Class C common stockholders described above. In addition to the quarterly distributions paid to CEG, Clearway Energy LLC distributed an additional $21 million to CEG during the year ended December 31, 2023, which represents CEG’s pro-rata share of distributions that were paid in order for the Company to make certain additional tax payments primarily associated with the sale of the Thermal Business. The Company’s share of the distribution was $30 million. On February 17, 2025, Clearway Energy LLC declared a quarterly distribution on its Class B and Class D units of $0.4312 per unit payable to CEG on March 17, 2025.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2024
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 Flexible Generation and Renewables businesses, which consist of solar, wind and battery energy storage system, or BESS, facilities. 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 net income (loss). The Company’s Chief Executive Officer reviews net income (loss) and its components on a monthly and quarterly basis to evaluate the performance of each segment and to determine how to allocate resources. Approximately 60% of the Company’s operating revenues and 50% of the Company’s assets relate to operations located in California. Also, the Company generated more than 10% of its revenues from the following customers for the years ended December 31, 2024, 2023 and 2022: 2024 2023 2022 Customer Flexible Generation Renewables Flexible Generation Renewables Flexible Generation Renewables SCE 7% 17% 11% 13% 17% 17% PG&E 3% 14% 4% 13% 10% 15% Year ended December 31, 2024 (In millions) Flexible Generation Renewables Corporate (a) Total Operating revenues $ 342 $ 1,029 $ — $ 1,371 Cost of operations, exclusive of depreciation, amortization and accretion shown separately below 137 367 (3) 501 Depreciation, amortization and accretion 115 512 — 627 General and administrative — — 39 39 Transaction and integration costs — — 8 8 Operating income (loss) 90 150 (44) 196 Equity in earnings of unconsolidated affiliates 3 32 — 35 Other income, net 6 31 11 48 Loss on debt extinguishment — (5) — (5) Interest expense (35) (176) (96) (307) Income (loss) before income taxes 64 32 (129) (33) Income tax expense — 1 29 30 Net Income (Loss) 64 31 (158) (63) Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests — (236) 85 (151) Net Income (Loss) Attributable to Clearway Energy, Inc. $ 64 $ 267 $ (243) $ 88 Balance Sheet Equity investments in affiliates $ 75 $ 234 $ — $ 309 Capital expenditures (b) 9 179 — 188 Total Assets $ 1,933 $ 12,236 $ 160 $ 14,329 (a) Includes eliminations. (b) Includes accruals. Year ended December 31, 2023 (In millions) Flexible Generation Renewables Corporate (a) Total Operating revenues $ 420 $ 894 $ — $ 1,314 Cost of operations, exclusive of depreciation, amortization and accretion shown separately below 154 321 (2) 473 Depreciation, amortization and accretion 129 397 — 526 Impairment losses — 12 — 12 General and administrative — — 36 36 Transaction and integration costs — — 4 4 Operating income (loss) 137 164 (38) 263 Equity in earnings of unconsolidated affiliates 3 9 — 12 Other income, net 4 24 24 52 Loss on debt extinguishment — (6) — (6) Interest expense (35) (205) (97) (337) Income (loss) before income taxes 109 (14) (111) (16) Income tax benefit — (2) — (2) Net Income (Loss) 109 (12) (111) (14) Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests — (162) 69 (93) Net Income (Loss) Attributable to Clearway Energy, Inc. $ 109 $ 150 $ (180) $ 79 Balance Sheet Equity investments in affiliates $ 79 $ 281 $ — $ 360 Capital expenditures (b) 11 146 — 157 Total Assets $ 2,058 $ 12,205 $ 438 $ 14,701 (a) Includes eliminations. (b) Includes accruals. Year ended December 31, 2022 (In millions) Flexible Generation Renewables Thermal Corporate (a) Total Operating revenues $ 417 $ 696 $ 77 $ — $ 1,190 Cost of operations, exclusive of depreciation, amortization and accretion shown separately below 89 298 50 (2) 435 Depreciation, amortization and accretion 131 381 — — 512 Impairment losses — 16 — — 16 General and administrative — — 2 38 40 Transaction and integration costs — — — 7 7 Development costs — — 2 — 2 Total operating costs and expenses 220 695 54 43 1,012 Gain on sale of business — — — 1,292 1,292 Operating income 197 1 23 1,249 1,470 Equity in earnings of unconsolidated affiliates 3 26 — — 29 Other income, net 1 6 — 10 17 Loss on debt extinguishment — (2) — — (2) Interest expense (40) (87) (6) (99) (232) Income (loss) before income taxes 161 (56) 17 1,160 1,282 Income tax expense — 2 — 220 222 Net Income (Loss) 161 (58) 17 940 1,060 Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests — (107) — 585 478 Net Income Attributable to Clearway Energy, Inc. $ 161 $ 49 $ 17 $ 355 $ 582 (a) Includes eliminations.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Effective Tax Rate The income tax provision consisted of the following amounts: Year Ended December 31, 2024 2023 2022 (In millions) Current U.S. Federal $ 1 $ (13) $ — State 4 (2) 28 Total — current 5 (15) 28 Deferred U.S. Federal $ 22 $ 13 $ 150 State 3 — 44 Total — deferred 25 13 194 Total income tax expense (benefit) $ 30 $ (2) $ 222 As further described in Note 2, Summary of Significant Accounting Policies , the Company has elected to prospectively adopt the guidance in ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures , or ASU 2023-09. The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Company’s effective rate for the year ended December 31, 2024 in accordance with the guidance in ASU No. 2023-09: Year Ended December 31, 2024 (In millions, except percentages) Loss Before Income Taxes $ (33) Tax at 21% (7) 21.0 % State taxes, net of federal benefit (a) 6 (18.2) % Tax credits (4) 12.1 % Nontaxable/nondeductible items: HLBV impact 32 (96.9) % Employee share-based payments 2 (6.0) % Other 1 (2.9) % Income tax expense $ 30 (90.9) % Effective income tax rate (90.9) % (a) State taxes in California made up the majority of the tax effect in this category. The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Company’s effective rate for the years ended December 31, 2023 and 2022 in accordance with the guidance prior to the adoption of ASU 2023-09: Year Ended December 31, 2023 2022 (In millions, except percentages) (Loss) Income Before Income Taxes $ (16) $ 1,282 Tax at 21% (3) 269 State taxes, net of federal benefit (2) 58 Impact of non-taxable partnership earnings (losses) 21 (101) Valuation allowance 3 — Investment tax credits (1) — Production tax credits (a) (16) (2) Rate change 1 (2) State taxes assessed at subsidiaries (3) 2 Other (2) (2) Income tax (benefit) expense $ (2) $ 222 Effective income tax rate 12.5 % 17.3 % (a) On December 6, 2023, the Company executed an agreement with a third party to sell the PTCs generated by the Alta X and Alta XI wind facilities, which resulted in a $14 million income tax benefit (reduction to income tax expense) during the year ended December 31, 2023. For the year ended December 31, 2024, the overall effective tax rate was different than the statutory rate of 21% primarily due to the allocation of taxable earnings and losses based on the partners’ interest in Clearway Energy LLC, which includes the effects of applying the HLBV method of accounting for book purposes for certain partnerships. For the year ended December 31, 2023, the overall effective tax rate was different than the statutory rate of 21% primarily due to the allocation of taxable earnings and losses based on the partners’ interest in Clearway Energy LLC, which includes the effects of applying the HLBV method of accounting for book purposes for certain partnerships, partially offset by the impact of PTCs generated. For the year ended December 31, 2022, the overall effective tax rate was different than the statutory rate of 21% primarily due to the allocation of taxable earnings and losses, including the gain on the sale of the Thermal Business, based on the partners’ interest in Clearway Energy LLC, which includes the effects of applying the HLBV method of accounting for book purposes for certain partnerships. For tax purposes, Clearway Energy LLC is treated as a partnership; therefore, the Company and CEG each record their respective share of taxable income or loss. The temporary differences, which gave rise to the Company’s deferred tax balances consisted of the following: As of December 31, 2024 2023 (In millions) Deferred tax liabilities: Investment in projects $ 191 $ 241 Total deferred tax liabilities 191 241 Deferred tax assets: Interest expense disallowance carryforward - Investment in Projects $ 18 $ 17 Production tax credits 16 15 Investment tax credits 7 6 U.S. Federal net operating loss carryforwards 58 73 State net operating loss carryforwards 7 7 Total deferred tax assets 106 118 Valuation allowance (4) (4) Total deferred tax assets, net of valuation allowance 102 114 Net deferred non-current tax liability $ (89) $ (127) Tax Receivable As of December 31, 2024, the Company had a $9 million tax receivable. Deferred Tax Balances and Valuation Allowance Net deferred tax balances — As of December 31, 2024 and 2023, the Company recorded a net deferred tax liability of $89 million and $127 million, respectively. The Company believes it is more likely than not that the results of future operations will generate sufficient taxable income, which includes the future reversal of existing taxable temporary differences to realize deferred tax assets. The Company considered the profit before tax generated in recent years as well as projections of future earnings and estimates of taxable income in arriving at this conclusion. The Company believes that $4 million of existing state NOLs, based on forecasted future earnings and estimated taxable income, will expire unutilized, resulting in the recording of a valuation allowance. NOL and Tax Credit carryforwards — As of December 31, 2024, the Company had tax-effected domestic NOL carryforwards for federal income tax purposes of $58 million. Additionally, the Company has a cumulative tax-effected state NOL carryforward of $7 million, which will expire between 2025 and 2041 if unutilized. In addition, the Company has PTC and ITC carryforward balances totaling $23 million, which will expire between 2035 and 2044 if unutilized. Income Tax Payments During the year ended December 31, 2024, the Company paid $1 million in federal income taxes. Additionally, the amount paid in state income taxes, net of refunds received, was immaterial for the year ended December 31, 2024. Uncertain Tax Positions

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
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 operating subsidiaries. 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 $82 million, $73 million and $71 million for the years ended December 31, 2024, 2023 and 2022, respectively, included in cost of operations in the consolidated statements of income. There was a balance of $12 million and $13 million due to RENOM as of December 31, 2024 and 2023, respectively. 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 $22 million, $20 million and $16 million for the years ended December 31, 2024, 2023 and 2022, respectively, included in cost of operations in the consolidated statements of income. There was a balance of $3 million and $2 million due to CEG as of December 31, 2024 and 2023, respectively. CEG Master Services Agreement The Company, along with certain of its subsidiaries, is a party to the CEG Master Services Agreement, 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, cybersecurity, external affairs, accounting, procurement and risk management services, in exchange for the payment of fees in respect of such services. Until January 1, 2025, the Company provided certain services to CEG under a separate Master Services Agreement, including accounting, internal audit, tax and treasury services, in exchange for the payment of fees in respect of such services. On April 30, 2024, the CEG Master Services Agreement was amended and restated as a result of a reorganization effected by the Company pursuant to which all of the employees of the Company transferred to CEG as of January 1, 2025. On February 13, 2025, but effective as of January 1, 2025, the CEG Master Services Agreement was amended and restated again to engage CEG in a payroll sharing agreement, such that the Company directly bears all labor costs for certain employees of CEG who perform work on behalf of the Company. Under the amended and restated agreement, CEG and certain of its affiliates or third-party service providers continued providing the operational and administrative services outlined above, and, effective January 1, 2025, also began providing accounting, internal audit, tax, legal and treasury services to the Company, in exchange for the payment of fees in respect of such services. Certain independent functions of the Company are directed by the Corporate Governance, Conflicts and Nominating Committee of the Board of Directors and paid for by the Company, while being administered by CEG. The Company incurred net expenses of $6 million under the CEG Master Services Agreement for the year ended December 31, 2024 and $5 million under this agreement for each of the years ended December 31, 2023 and 2022, included in cost of operations in the consolidated statements of income. There was a balance of $5 million and zero due to CEG as of December 31, 2024 and 2023, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Gas and Transportation Commitments The Company previously entered into contractual arrangements to procure power, fuel and associated transportation services for the Thermal Business, which was sold to KKR on May 1, 2022. Under these arrangements, the Company purchased $20 million for the year ended December 31, 2022. Contingencies 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 will establish an adequate reserve for ongoing legal matters. 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 ongoing legal proceedings or reasonably estimate the scope or amount of any associated costs and potential liabilities. As additional information becomes available, management adjusts its assessment and estimate of 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. The Company and its subsidiaries are party to 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.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases Accounting for Leases The Company evaluates each arrangement at inception to determine if it contains a lease. Substantially all of the Company’s leases are operating leases. Lessee The Company records its operating lease liabilities at the present value of the lease payments over the lease term at lease commencement date. Lease payments include fixed payment amounts as well as variable rate payments based on an index initially measured at lease commencement date. Variable payments, including payments based on future performance and based on index changes, are recorded when the expense is probable. The Company determines the relevant lease term by evaluating whether renewal and termination options are reasonably certain to be exercised. The Company uses its incremental borrowing rate to calculate the present value of the lease payments, based on information available at the lease commencement date. The Company’s leases consist of land leases for numerous operating asset locations, real estate leases and equipment leases. The terms and conditions for these leases vary by the type of underlying asset. Certain of these leases have both lease and non-lease components and the Company has elected to apply the practical expedient to not separate these components. Lease expense was comprised of the following: Year Ended December 31, (In millions) 2024 2023 2022 Operating lease cost - Fixed $ 31 $ 40 $ 36 Operating lease cost - Variable 12 11 11 Total lease cost $ 43 $ 51 $ 47 Operating lease information was as follows: Year Ended December 31, (In millions) 2024 2023 2022 Cash paid for operating leases $ 34 $ 30 $ 28 (In millions, except term and rate) December 31, 2024 December 31, 2023 Right-of-use assets - operating leases, net $ 547 $ 597 Short-term lease liability - operating leases (a) $ 10 $ 7 Long-term lease liability - operating leases 569 627 Total lease liabilities $ 579 $ 634 Weighted average remaining lease term (in years) 26 28 Weighted average discount rate 4.5 % 4.2 % (a) Short-term lease liability balances are included within the accrued expenses and other current liabilities line item of the consolidated balance sheets as of December 31, 2024 and 2023. Minimum future rental payments of operating lease liabilities as of December 31, 2024 are as follows: (In millions) 2025 $ 34 2026 34 2027 35 2028 35 2029 35 Thereafter 771 Total lease payments 944 Less imputed interest (365) Total lease liability - operating leases $ 579 The Company is party to various land lease agreements with wholly-owned subsidiaries of CEG that are accounted for as operating leases. The following table summarizes the land lease agreements: (In millions) Right-of-use assets, net Long-term lease liabilities Lease expiration As of December 31, 2024 Daggett 2 $ 22 $ 23 June 30, 2058 Daggett 3 30 34 December 18, 2062 Mililani I 18 21 March 31, 2057 Oahu Solar (a) 17 19 August 1, 2057 Rosamond Central (a) 11 12 March 31, 2056 As of December 31, 2023 Daggett 2 $ 22 $ 23 June 30, 2058 Daggett 3 31 33 December 18, 2062 Mililani I 19 20 March 31, 2057 Oahu Solar (a) 17 20 August 1, 2057 Rosamond Central (a) 11 12 March 31, 2056 (a) The Company has the ability to extend each of these leases for two additional five-year periods. Lessor The majority of the Company’s revenue is obtained through PPAs or other contractual agreements that are accounted for as leases. These leases are comprised of both fixed payments and variable payments contingent upon volumes or performance metrics. Termination may be allowed under specific circumstances in the lease arrangements, such as under an event of default. All but one of the Company’s active leases are operating leases. This sales-type lease is further described below. Certain of these operating leases have both lease and non-lease components, and the Company allocates the transaction price to the components based on standalone selling prices. The following amounts of energy, capacity and other revenues are related to the Company’s operating leases: Flexible Generation Renewables Total December 31, 2024 (In millions) Energy revenue $ 3 $ 817 $ 820 Capacity revenue 110 43 153 Operating revenues $ 113 $ 860 $ 973 Flexible Generation Renewables Total December 31, 2023 (In millions) Energy revenue $ 4 $ 760 $ 764 Capacity revenue 249 20 269 Other revenues (a) 21 — 21 Operating revenues $ 274 $ 780 $ 1,054 (a) On May 31, 2023, the Marsh Landing Black Start addition reached commercial operations and the Company will receive an annual fixed fee over a five-year term under the related agreement. The agreement was determined to be a sales-type lease resulting in the Company recording a lease receivable of $21 million included in total operating revenues, offset by net investment costs of $13 million included in cost of operations, resulting in a net pre-tax profit of $8 million. The lease receivable is included in other current and non-current assets on the Company’s consolidated balance sheet. Flexible Generation Renewables Thermal Total December 31, 2022 (In millions) Energy revenue $ 6 $ 809 $ 1 $ 816 Capacity revenue 435 — — 435 Operating revenues $ 441 $ 809 $ 1 $ 1,251 Minimum future rent payments the Company expects to receive for the remaining periods related to various facility operating leases as of December 31, 2024 were as follows: (In millions) 2025 $ 168 2026 170 2027 171 2028 172 2029 173 Thereafter 1,700 Total lease payments $ 2,554 Property, plant and equipment, net related to the Company’s operating leases were as follows: (In millions) December 31, 2024 December 31, 2023 Property, plant and equipment $ 6,284 $ 5,720 Accumulated depreciation (2,276) (1,991) Net property, plant and equipment $ 4,008 $ 3,729
Leases	Leases Accounting for Leases The Company evaluates each arrangement at inception to determine if it contains a lease. Substantially all of the Company’s leases are operating leases. Lessee The Company records its operating lease liabilities at the present value of the lease payments over the lease term at lease commencement date. Lease payments include fixed payment amounts as well as variable rate payments based on an index initially measured at lease commencement date. Variable payments, including payments based on future performance and based on index changes, are recorded when the expense is probable. The Company determines the relevant lease term by evaluating whether renewal and termination options are reasonably certain to be exercised. The Company uses its incremental borrowing rate to calculate the present value of the lease payments, based on information available at the lease commencement date. The Company’s leases consist of land leases for numerous operating asset locations, real estate leases and equipment leases. The terms and conditions for these leases vary by the type of underlying asset. Certain of these leases have both lease and non-lease components and the Company has elected to apply the practical expedient to not separate these components. Lease expense was comprised of the following: Year Ended December 31, (In millions) 2024 2023 2022 Operating lease cost - Fixed $ 31 $ 40 $ 36 Operating lease cost - Variable 12 11 11 Total lease cost $ 43 $ 51 $ 47 Operating lease information was as follows: Year Ended December 31, (In millions) 2024 2023 2022 Cash paid for operating leases $ 34 $ 30 $ 28 (In millions, except term and rate) December 31, 2024 December 31, 2023 Right-of-use assets - operating leases, net $ 547 $ 597 Short-term lease liability - operating leases (a) $ 10 $ 7 Long-term lease liability - operating leases 569 627 Total lease liabilities $ 579 $ 634 Weighted average remaining lease term (in years) 26 28 Weighted average discount rate 4.5 % 4.2 % (a) Short-term lease liability balances are included within the accrued expenses and other current liabilities line item of the consolidated balance sheets as of December 31, 2024 and 2023. Minimum future rental payments of operating lease liabilities as of December 31, 2024 are as follows: (In millions) 2025 $ 34 2026 34 2027 35 2028 35 2029 35 Thereafter 771 Total lease payments 944 Less imputed interest (365) Total lease liability - operating leases $ 579 The Company is party to various land lease agreements with wholly-owned subsidiaries of CEG that are accounted for as operating leases. The following table summarizes the land lease agreements: (In millions) Right-of-use assets, net Long-term lease liabilities Lease expiration As of December 31, 2024 Daggett 2 $ 22 $ 23 June 30, 2058 Daggett 3 30 34 December 18, 2062 Mililani I 18 21 March 31, 2057 Oahu Solar (a) 17 19 August 1, 2057 Rosamond Central (a) 11 12 March 31, 2056 As of December 31, 2023 Daggett 2 $ 22 $ 23 June 30, 2058 Daggett 3 31 33 December 18, 2062 Mililani I 19 20 March 31, 2057 Oahu Solar (a) 17 20 August 1, 2057 Rosamond Central (a) 11 12 March 31, 2056 (a) The Company has the ability to extend each of these leases for two additional five-year periods. Lessor The majority of the Company’s revenue is obtained through PPAs or other contractual agreements that are accounted for as leases. These leases are comprised of both fixed payments and variable payments contingent upon volumes or performance metrics. Termination may be allowed under specific circumstances in the lease arrangements, such as under an event of default. All but one of the Company’s active leases are operating leases. This sales-type lease is further described below. Certain of these operating leases have both lease and non-lease components, and the Company allocates the transaction price to the components based on standalone selling prices. The following amounts of energy, capacity and other revenues are related to the Company’s operating leases: Flexible Generation Renewables Total December 31, 2024 (In millions) Energy revenue $ 3 $ 817 $ 820 Capacity revenue 110 43 153 Operating revenues $ 113 $ 860 $ 973 Flexible Generation Renewables Total December 31, 2023 (In millions) Energy revenue $ 4 $ 760 $ 764 Capacity revenue 249 20 269 Other revenues (a) 21 — 21 Operating revenues $ 274 $ 780 $ 1,054 (a) On May 31, 2023, the Marsh Landing Black Start addition reached commercial operations and the Company will receive an annual fixed fee over a five-year term under the related agreement. The agreement was determined to be a sales-type lease resulting in the Company recording a lease receivable of $21 million included in total operating revenues, offset by net investment costs of $13 million included in cost of operations, resulting in a net pre-tax profit of $8 million. The lease receivable is included in other current and non-current assets on the Company’s consolidated balance sheet. Flexible Generation Renewables Thermal Total December 31, 2022 (In millions) Energy revenue $ 6 $ 809 $ 1 $ 816 Capacity revenue 435 — — 435 Operating revenues $ 441 $ 809 $ 1 $ 1,251 Minimum future rent payments the Company expects to receive for the remaining periods related to various facility operating leases as of December 31, 2024 were as follows: (In millions) 2025 $ 168 2026 170 2027 171 2028 172 2029 173 Thereafter 1,700 Total lease payments $ 2,554 Property, plant and equipment, net related to the Company’s operating leases were as follows: (In millions) December 31, 2024 December 31, 2023 Property, plant and equipment $ 6,284 $ 5,720 Accumulated depreciation (2,276) (1,991) Net property, plant and equipment $ 4,008 $ 3,729

Schedule I - Condensed Financia

Schedule I - Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Registrant	Clearway Energy, Inc. (Parent) Condensed Financial Information of Registrant Condensed Statements of Income Year ended December 31, (In millions) 2024 2023 2022 Total operating costs and expenses $ 1 $ 1 $ 2 Equity in (losses) earnings of consolidated subsidiaries (33) (13) 1,282 Total other (expense) income, net (33) (13) 1,282 (Loss) Income Before Income Taxes (34) (14) 1,280 Income tax expense 29 — 220 Net (Loss) Income (63) (14) 1,060 Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests (151) (93) 478 Net Income Attributable to Clearway Energy, Inc. $ 88 $ 79 $ 582 - Clearway Energy, Inc. (Parent) Condensed Balance Sheets December 31, December 31, 2024 2023 ASSETS (In millions) Current Assets Accounts receivable — affiliates $ 4 $ 3 Note receivable — Clearway Energy Operating LLC — 1 Other current assets 9 13 Other Assets Investment in consolidated subsidiaries 5,642 5,106 Total Assets $ 5,655 $ 5,123 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities Other Liabilities Deferred income taxes 87 125 Other non-current liabilities 4 4 Total Liabilities 91 129 Commitments and Contingencies Stockholders’ Equity Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued — — 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); 202,147,579 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 82,833,226, Class D 41,961,750) at December 31, 2024 and 202,080,794 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 82,391,441, Class D 42,336,750) at December 31, 2023 1 1 Additional paid-in capital 1,805 1,732 Retained earnings 254 361 Accumulated other comprehensive income 3 7 Noncontrolling interest 3,501 2,893 Total Stockholders’ Equity 5,564 4,994 Total Liabilities and Stockholders’ Equity $ 5,655 $ 5,123 Clearway Energy, Inc. (Parent) Condensed Statements of Cash Flows Year ended December 31, 2024 2023 2022 (In millions) Net Cash Used in Operating Activities $ (2) $ (31) $ (10) Cash Flows from Investing Activities Cash advances for notes receivable — affiliate — — (4) Cash received from notes receivable — affiliate 1 1 3 Net Cash Provided by (Used in) Investing Activities 1 1 (1) Cash Flows from Financing Activities Cash received from Clearway Energy LLC for tax-related distributions 1 30 11 Cash received from Clearway Energy LLC for the payment of dividends 194 180 167 Payment of dividends (194) (180) (167) Net Cash Provided by Financing Activities 1 30 11 Net Change in Cash — — — Cash at Beginning of Period — — — Cash at End of Period $ — $ — $ — Background Clearway Energy, Inc., together with its consolidated subsidiaries, or the Company, is a publicly-traded energy infrastructure investor with a focus on investments in clean energy and owner of modern, sustainable and long-term contracted assets across North America. The Company is sponsored by Clearway Energy Group LLC, or CEG, which is equally owned by GIP and TotalEnergies. On October 1, 2024, BlackRock acquired 100% of the business and assets of GIM, which is the investment manager of the GIP funds that own an interest in CEG. The Company is one of the largest owners of clean energy generation assets in the U.S. and a leading contributor to the transition to a world powered by clean energy. The Company’s portfolio comprises approximately 11.8 GW of gross capacity in 26 states, including approximately 9 GW of wind, solar and battery energy storage systems, or BESS, and approximately 2.8 GW of dispatchable combustion-based power generation assets included in the Flexible Generation segment that provide critical grid reliability services. Through this environmentally-sound, diversified and primarily contracted portfolio, the Company endeavors to provide its investors with stable and growing dividend income. The majority of the Company’s revenues are derived from long-term contractual arrangements for the output or capacity from these assets. The Company consolidates the results of Clearway Energy LLC through its controlling interest, with CEG’s interest shown as noncontrolling interest in the 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. As of December 31, 2024, the Company owned 58.10% of the economic interests of Clearway Energy LLC, with CEG owning 41.90% of the economic interests of Clearway Energy LLC. Basis of Presentation The condensed parent-only company financial statements have been prepared in accordance with Rule 12-04 of Regulation S-X, as the restricted net assets of Clearway Energy, Inc.’s subsidiaries exceed 25% of the consolidated net assets of Clearway Energy, Inc. The parent’s 100% investment in its subsidiaries has been recorded using the equity basis of accounting in the accompanying condensed parent-only financial statements. These statements should be read in conjunction with the consolidated financial statements and notes thereto of Clearway Energy, Inc. Note 2 — Long-Term Debt For a discussion of Clearway Energy, Inc.’s financing arrangements, see Note 10, Long-term Debt, to the Company’s consolidated financial statements. Note 3 — Commitments, Contingencies and Guarantees See Note 14, Income Taxes, and Note 16, Commitments and Contingencies, to the Company’s consolidated financial statements for a detailed discussion of Clearway Energy, Inc.’s commitments and contingencies. Note 4 — Dividends Cash distributions paid to Clearway Energy, Inc. by its subsidiary, Clearway Energy LLC, were $194 million, $180 million and $167 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Schedule II VALUATION AND QUALI

Schedule II VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2024, 2023, and 2022 (In millions) Balance at Charged to Charged to Balance at Income tax valuation allowance, deducted from deferred tax assets Year Ended December 31, 2024 $ 4 $ — $ — $ 4 Year Ended December 31, 2023 1 3 — 4 Year Ended December 31, 2022 1 — — 1

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income attributable to Clearway Energy, Inc.	$ 88	$ 79	$ 582

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	The Company recognizes the critical importance of developing, implementing and maintaining robust cybersecurity measures to safeguard information systems and protect the confidentiality, integrity and availability of data. Managing Material Risks & Integrated Overall Risk Management The Company has strategically integrated cybersecurity risk management into its broader risk management framework to promote a company-wide culture of cybersecurity risk management. The Company’s risk management team works closely with the IT department to continuously evaluate and address cybersecurity risks in alignment with business objectives and operational needs. In addition, the Company follows the National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF). Engage Third Parties on Risk Management Recognizing the complexity and evolving nature of cybersecurity threats, the Company engages with a range of external experts, including cybersecurity consultants in evaluating and testing its risk management systems. The Company’s collaboration with these third parties includes regular audits; threat and vulnerability assessments; incident response plan testing; company-wide monitoring of cybersecurity risks; and consultation on security enhancements. Oversee Third-Party Risk Due to the risks associated with the engagement of third-party vendors, service providers and business partners, the Company applies stringent processes to manage these risks. Thorough security assessments of all third-party providers with access to internal data and information systems occurs before engagement, as well as ongoing monitoring to ensure compliance with relevant cybersecurity standards. The monitoring includes annual assessments by CEG’s Vice President of Information Technology and its Director of Cybersecurity and assessments on an ongoing basis by the internal cybersecurity team. These services are provided to the Company pursuant to the CEG Master Services Agreement. This approach is designed to mitigate risks related to data breaches or other security incidents originating from third parties. Risks from Cybersecurity Threats As of February 24, 2025, the Company was not aware of any cybersecurity threats or incidents that have materially affected, or are reasonably likely to materially affect the Company, including its business strategy, results of operations or financial standing. However, there can be no assurance that the Company’s cybersecurity processes will prevent or mitigate cybersecurity incidents or threats and that the Company’s efforts will always be successful. For further discussion regarding the Company’s cybersecurity risks, see Item 1A — Risk Factors, Risks Related to the Company’s Business .
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The Company has strategically integrated cybersecurity risk management into its broader risk management framework to promote a company-wide culture of cybersecurity risk management. The Company’s risk management team works closely with the IT department to continuously evaluate and address cybersecurity risks in alignment with business objectives and operational needs. In addition, the Company follows the National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF).
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Company’s Board of Directors has oversight of cybersecurity risks and is well informed with respect to the nature and scope of such risks. The Board of Directors is acutely aware of the critical nature of managing risks associated with cybersecurity threats. The Board of Directors has established oversight mechanisms to ensure effective governance in managing risks associated with cybersecurity as they recognize the significance of these risks and threats to operational integrity and stakeholder confidence.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Vice President of Information Technology and Director of Cybersecurity
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Vice President of Information Technology and Director of Cybersecurity play a pivotal role in informing the Board of Directors on cybersecurity risks. They provide briefings to the Board of Directors on a regular basis, with a minimum frequency of once per year. These briefings encompass a broad range of topics, including: • Current cybersecurity threat landscape and emerging threats; • Status of ongoing cybersecurity initiatives and strategies; • Incident reports and learnings from any meaningful cybersecurity events; and • Compliance status and efforts with regulatory requirements and industry standards. In addition to scheduled meetings, the Board of Directors, the Vice President of Information Technology and the Director of Cybersecurity maintain an ongoing dialogue regarding emerging cybersecurity risks. Together, they receive updates on significant developments in the cybersecurity domain. The Board of Directors actively participates in strategic decisions related to cybersecurity, offering guidance and approval for major strategic decisions and initiatives. This involvement advances the Company’s overall strategy that cybersecurity considerations are integrated into its broader strategic objectives. The Board of Directors conducts an annual review of the Company’s cybersecurity posture and the effectiveness of its risk management strategies through the information, findings and recommendations from the Company’s internal cybersecurity team as well as third-party audits, penetration tests and incident response plan testing outcomes. This review helps identify areas for improvement and helps align cybersecurity efforts with the overall risk management framework.
Cybersecurity Risk Role of Management [Text Block]	Management’s Role Managing Cybersecurity Risk The Vice President of Information Technology and Director of Cybersecurity regularly inform the Company’s management of all aspects related to cybersecurity risks and incidents. This ensures that the highest levels of management are kept abreast of the cybersecurity posture and potential risks facing the Company. Furthermore, significant cybersecurity matters and strategic risk management decisions are escalated to the Board of Directors, ensuring that they have insight and can provide guidance on critical cybersecurity issues. Monitor Cybersecurity Incidents The Vice President of Information Technology and Director of Cybersecurity are continually informed about the latest developments in cybersecurity, including emerging threats and innovative risk management techniques. They implement and oversee processes for the regular monitoring of the Company’s information systems. This includes the deployment of advanced security measures and regular system audits to identify potential vulnerabilities. In the event of a cybersecurity incident, the Company is equipped with a defined and practiced incident response plan, which includes retainers from respected third parties. This plan includes immediate actions to mitigate the impact of the incident, long-term strategies for remediation and the prevention of future incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Vice President of Information Technology and Director of Cybersecurity regularly inform the Company’s management of all aspects related to cybersecurity risks and incidents. This ensures that the highest levels of management are kept abreast of the cybersecurity posture and potential risks facing the Company. Furthermore, significant cybersecurity matters and strategic risk management decisions are escalated to the Board of Directors, ensuring that they have insight and can provide guidance on critical cybersecurity issues. Monitor Cybersecurity Incidents The Vice President of Information Technology and Director of Cybersecurity are continually informed about the latest developments in cybersecurity, including emerging threats and innovative risk management techniques. They implement and oversee processes for the regular monitoring of the Company’s information systems. This includes the deployment of advanced security measures and regular system audits to identify potential vulnerabilities. In the event of a cybersecurity incident, the Company is equipped with a defined and practiced incident response plan, which includes retainers from respected third parties. This plan includes immediate actions to mitigate the impact of the incident, long-term strategies for remediation and the prevention of future incidents.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	With over 20 years of experience in the field of cybersecurity, the current Vice President of Information Technology brings a wealth of expertise to their role. Their background includes extensive experience in information technology, and their in-depth knowledge and experience are instrumental in developing and executing the Company’s cybersecurity strategies. They oversee the Company’s IT governance programs; test compliance with internal, industry and regulatory standards; remediate known risks; and lead the Company’s employee training program. The current Director of Cybersecurity has over 30 years of experience in information technology across a variety of industries and compliance programs. The Director of Cybersecurity has been heavily focused on cybersecurity in regulated industries for the past 10 years.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Vice President of Information Technology and Director of Cybersecurity regularly inform the Company’s management of all aspects related to cybersecurity risks and incidents. This ensures that the highest levels of management are kept abreast of the cybersecurity posture and potential risks facing the Company. Furthermore, significant cybersecurity matters and strategic risk management decisions are escalated to the Board of Directors, ensuring that they have insight and can provide guidance on critical cybersecurity issues.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	The Company’s consolidated financial statements have been prepared in accordance with GAAP. The FASB ASC is the source of authoritative GAAP to be applied by nongovernmental entities. In addition, the rules and interpretative releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants.
Principles of Consolidation	The consolidated financial statements include the Company’s accounts and operations and those of its subsidiaries in which it has a controlling financial interest. All significant intercompany transactions and balances have been eliminated in consolidation. The usual condition for a controlling financial interest is ownership of the majority of the voting interests of an entity. However, a controlling financial interest may also exist through arrangements that do not involve controlling voting interests. As such, the Company applies the guidance of ASC 810, Consolidations , to determine when an entity that is insufficiently capitalized or not controlled through its voting interests, referred to as a variable interest entity, or VIE, should be consolidated.
Cash and Cash Equivalents	Cash, Cash Equivalents and Restricted Cash
Restricted Cash	Restricted cash consists primarily of funds held to satisfy the requirements of certain debt agreements and funds held within the Company’s facilities that are restricted in their use.
Accounts Receivable — Trade and Allowance for Credit Losses	Accounts Receivable — Trade and Allowance for Credit Losses
Inventory	Inventory Inventory consists of spare parts and is valued at weighted average cost, unless evidence indicates that the weighted average cost will not be recovered with a normal profit in the ordinary course of business. Inventory is removed when used for repairs, maintenance or capital projects.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost, however impairment adjustments are recorded whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Significant additions or improvements extending asset lives are capitalized as incurred, while repairs and maintenance that do not improve or extend the life of the respective asset are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives. Certain assets and their related accumulated depreciation amounts are adjusted for asset retirements and disposals with the resulting gain or loss included in cost of operations in the consolidated statements of income. For further discussion of the Company’s property, plant and equipment refer to Note 4, Property, Plant and Equipment . Interest incurred on funds borrowed to finance capital projects is capitalized until the project under construction is ready for its intended use. The amount of interest capitalized for the years ended December 31, 2024, 2023 and 2022 was $28 million, $36 million and $2 million, respectively.
Asset Impairments	Asset Impairments Long-lived assets that are held and used are reviewed for impairment whenever events or changes in circumstances indicate their carrying amounts may not be recoverable. Such reviews are performed in accordance with ASC 360, Property, Plant and Equipment . An impairment loss is indicated if the total future estimated undiscounted cash flows expected from an asset are less than its carrying amount. An impairment charge is measured as the excess of an asset’s carrying amount over its fair value with the difference recorded in operating costs and expenses in the consolidated statements of income. Fair values are determined by a variety of valuation methods, including appraisals, sales prices of similar assets and present value techniques. For further discussion of the Company’s long-lived asset impairments, refer to Note 9, Asset Impairments . Investments accounted for by the equity method are reviewed for impairment in accordance with ASC 323, Investments-Equity Method and Joint Ventures , which requires that a loss in value of an investment that is an other-than-temporary decline should be recognized. The Company identifies and measures losses in the value of equity method investments based upon a comparison of fair value to carrying value.
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs are capitalized and amortized as interest expense on a basis which approximates the effective interest method over the term of the related debt. Debt issuance costs related to the long-term debt are presented as a direct deduction from the carrying amount of the related debt. Debt issuance costs related to the senior secured revolving credit facility line of credit are recorded as a non-current asset on the consolidated balance sheet and are amortized over the term of the credit facility.
Intangible Assets	Intangible Assets
Revenue Recognition	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. Flexible Generation Segment Revenues The majority of the facilities in the Flexible Generation segment commenced merchant operations during 2023 following the expiration of the PPAs. These facilities generate revenues from selling electricity and/or RA to the CAISO and to public utility and load serving entities, as the power is delivered at the interconnection point. 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 facilities in the Flexible Generation segment are sold through long-term PPAs and tolling agreements to a single counterparty, which is often a utility or commercial customer. Certain revenue agreements also provide for the sale of BESS capacity. As discussed above, the majority of the facilities in the Flexible Generation segment commenced merchant operations during 2023 following the expiration of the PPAs. 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. The Company’s BESS arrangements include variable payments not based on an index or rate and sales-type lease treatment would result in a loss at lease commencement. As a result, the Company accounts for these arrangements as operating leases under ASC 842. 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 finance lease. Certain of these PPAs have no minimum lease payments and all of the lease revenue under these PPAs is recorded as contingent rent on an actual basis when the electricity is delivered. The contingent lease revenue recognized in the years ended December 31, 2024, 2023 and 2022 was $831 million, $780 million and $850 million, respectively. See Note 17, Leases, for additional information related to the Company’s PPAs accounted for as leases. 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 unnecessary to allocate transaction price to multiple performance obligations. Thermal Revenues On May 1, 2022, the Company completed the sale of 100% of its interests in the Thermal Business to KKR. Prior to the sale, steam and chilled water revenue was recognized as the Company transferred 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 recognized 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 was satisfied over time and revenue was recognized based on the invoiced amount. The Thermal Business subsidiaries collected and remitted state and local taxes associated with sales to their customers, as required by governmental authorities. These taxes were presented on a net basis in the consolidated statements of income. 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.
Derivative Financial Instruments	Derivative Financial Instruments The Company accounts for derivative financial instruments under ASC 815, Derivatives and Hedging , or ASC 815, which requires the Company to record all derivatives on the balance sheet at fair value unless they qualify for a NPNS exception. Changes in the fair value of non-hedge derivatives are immediately recognized in earnings. Changes in the fair value of derivatives accounted for as hedges, if elected for hedge accounting, are deferred and recorded as a component of accumulated OCI until the hedged transactions occur and are recognized in earnings. The Company’s primary derivative financial instruments are interest rate instruments used to mitigate variability in earnings due to fluctuations in interest rates and energy-related instruments used to mitigate variability in earnings due to fluctuations in power market prices or natural gas market prices. Certain derivative contracts contain provisions providing the counterparties a lien on specific assets as collateral. On an ongoing basis, the Company qualitatively assesses the effectiveness of its derivatives that are designated as hedges for accounting purposes in order to determine that each derivative continues to be highly effective in offsetting changes in cash flows of hedged items. If necessary, the Company will perform an analysis to measure the statistical correlation between the derivative and the associated hedged item to determine the effectiveness of such a contract designated as a hedge. The Company will discontinue hedge accounting if it is determined that the hedge is no longer effective. In this case, the gain or loss previously deferred in accumulated OCI would be frozen until the underlying hedged item is delivered unless the transaction being hedged is no longer probable of occurring in which case the amount in accumulated OCI would be immediately reclassified into earnings. If the derivative financial instrument is terminated, the effective portion of this derivative deferred in accumulated OCI will be frozen until the underlying hedged item is delivered. Revenues and expenses on contracts that qualify for the NPNS exception are recognized when the underlying physical transaction is delivered. While these contracts are considered derivative financial instruments under ASC 815, they are not recorded at fair value, but on an accrual basis of accounting. If it is determined that a transaction designated as NPNS no longer meets the scope exception, the fair value of the related contract is recorded on the balance sheet and immediately recognized through earnings. Cash flows from derivative financial instruments, including derivatives designated as cash flow hedges and derivatives not designated as cash flow hedges, are classified as operating activities in the consolidated statements of cash flows.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of accounts receivable — trade and derivative financial instruments, which are concentrated within entities engaged in the energy and financial industries. These industry concentrations may impact the overall exposure to credit risk, either positively or negatively, in that the customers may be similarly affected by changes in economic, industry or other conditions. In addition, many of the Company’s facilities have only one customer . Concentration of Credit Risk In addition to the credit risk discussion as disclosed in Note 2, Summary of Significant Accounting Policies , 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. Counterparty credit exposure includes credit risk exposure under certain long-term agreements, including solar and other PPAs. As external sources or observable market quotes are not available to estimate such exposure, the Company estimates the exposure related to these contracts based on various techniques including, but not limited to, internal models based on a fundamental analysis of the market and extrapolation of observable market data with similar characteristics. A significant portion of these energy-related commodity contracts are with utilities with strong credit quality and public utility commission or other regulatory support. However, such regulated utility counterparties can be impacted by changes in government regulations or adverse financial conditions, which the Company is unable to predict. Certain subsidiaries of the Company sell the output of their facilities to PG&E, a significant counterparty of the Company, under long-term PPAs, and PG&E’s credit rating is below investment-grade.
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Asset Retirement Obligations	Asset Retirement Obligations Asset retirement obligations, or AROs, are accounted for in accordance with ASC 410-20, Asset Retirement Obligations, or ASC 410-20. Retirement obligations associated with long-lived assets included within the scope of ASC 410-20 are those for which a legal obligation exists under enacted laws, statutes, and written or oral contracts, including obligations arising under the doctrine of promissory estoppel, and for which the timing and/or method of settlement may be conditional on a future event. ASC 410-20 requires an entity to recognize the fair value of a liability for an ARO in the period in which it is incurred and a reasonable estimate of fair value can be made. Upon initial recognition of a liability for an ARO, other than when an ARO is assumed in an acquisition of the related long-lived asset, the asset retirement cost is capitalized by increasing the carrying amount of the related long-lived asset by the same amount. Over time, the liability is accreted to its future value, while the capitalized cost is depreciated over the useful life of the related asset. The Company’s AROs are primarily related to the future dismantlement of equipment on leased property and environmental obligations related to site closures and fuel storage facilities. The Company records AROs as part of other non-current liabilities on its consolidated balance sheet.
Guarantees	Guarantees The Company enters into various contracts that include indemnification and guarantee provisions as a routine part of its business activities. Examples of these contracts include operation and maintenance agreements, service agreements, commercial sales arrangements and other types of contractual agreements with vendors and other third parties as well as affiliates. These contracts generally indemnify the counterparty for tax, environmental liability, litigation and other matters as well as breaches of representations, warranties and covenants set forth in these agreements. Because many of the guarantees and indemnities the Company issues to third parties and affiliates do not limit the amount or duration of its obligations to perform under them, there exists a risk that the Company may have obligations in excess of the amounts agreed upon in the contracts mentioned above. For those guarantees and indemnities that do not limit the liability exposure, the Company may not be able to estimate what the liability would be, until a claim is made for payment or performance, due to the contingent nature of these contracts.
Investments Accounted for by the Equity Method	Investments Accounted for by the Equity Method The Company has investments in various energy facilities accounted for by the equity method, several of which are VIEs, where the Company is not a primary beneficiary, as described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities . The equity method of accounting is applied to these investments in affiliates because the ownership structure prevents the Company from exercising a controlling influence over the operating and financial policies of the facilities. Under this method, equity in pre-tax income or losses of the investments is reflected as equity in earnings of unconsolidated affiliates. Distributions from equity method investments that represent earnings on the Company’s investment are included within cash flows from operating activities and distributions from equity method investments that represent a return of the Company’s investment are included within cash flows from investing activities.
Sale-Leaseback Arrangements	Sale-Leaseback Arrangements The Company is party to sale-leaseback arrangements that provide for the sale of certain assets to a third-party and simultaneous leaseback to the Company. In accordance with ASC 842-40, Sale-Leaseback Transactions , if the seller-lessee retains, through the leaseback, substantially all of the benefits and risks incident to the ownership of the property sold, the sale-leaseback transaction is accounted for as a financing arrangement. An example of this type of continuing involvement would include an option to repurchase the assets or the buyer-lessor having the option to sell the assets back to the Company. This provision is included in most of the Company’s sale-leaseback arrangements. As such, the Company accounts for these arrangements as financings. Under the financing method, the Company does not recognize as income any of the sale proceeds received from the lessor that contractually constitutes payment to acquire the assets subject to these arrangements. Instead, the sale proceeds received are accounted for as financing obligations and leaseback payments made by the Company are allocated between interest expense and a reduction to the financing obligation. Interest on the financing obligation is calculated using the Company’s incremental borrowing rate at the inception of the arrangement on the outstanding financing obligation. Judgment is required to determine the appropriate borrowing rate for the arrangement and in determining any gain or loss on the transaction that would be recorded either at the end of or over the lease term.
Income Taxes	Income Taxes The Company accounts for income taxes using the liability method in accordance with ASC 740, Income Taxes , or ASC 740, which requires that the Company use the asset and liability method of accounting for deferred income taxes and provide deferred income taxes for all significant temporary differences. The Company has two categories of income tax expense or benefit — current and deferred, as follows: • Current income tax expense or benefit consists solely of current taxes payable less applicable tax credits, and • Deferred income tax expense or benefit is the change in the net deferred income tax asset or liability, excluding amounts charged or credited to accumulated other comprehensive income (loss). The Company reports some of its revenues and expenses differently for financial statement purposes than for income tax return purposes, resulting in temporary and permanent differences between the Company’s financial statements and income tax returns. The tax effects of such temporary differences are recorded as either deferred income tax assets or deferred income tax liabilities in the Company’s consolidated balance sheets. The Company measures its deferred income tax assets and deferred income tax liabilities using income tax rates that are currently in effect. The Company believes it is more likely than not that the results of future operations will generate sufficient taxable income which includes the future reversal of existing taxable temporary differences to realize deferred tax assets, net of valuation allowances. In arriving at this conclusion to utilize projections of future profit before tax in its estimate of future taxable income, the Company considered the profit before tax generated in recent years. A valuation allowance is recorded to reduce the net deferred tax assets to an amount that is more-likely-than-not to be realized. The Company accounts for uncertain tax positions in accordance with ASC 740, which applies to all tax positions related to income taxes. Under ASC 740, tax benefits are recognized when it is more-likely-than-not that a tax position will be sustained upon examination by the authorities. The benefit recognized from a position that has surpassed the more-likely-than-not threshold is the largest amount of benefit that is more than 50% likely to be realized upon settlement. In accordance with ASC 740 and as discussed further in Note 14, Income Taxes , changes to existing net deferred tax assets, valuation allowances, or changes to uncertain tax benefits, are recorded to income tax expense.
Asset Acquisitions	Asset Acquisitions The Company accounts for its acquisitions in accordance with ASC 805, Business Combinations, or ASC 805. For third-party acquisitions, ASC 805 requires an acquirer to recognize and measure in its financial statements the identifiable assets acquired, the liabilities assumed and any noncontrolling interest in the acquiree at fair value at the acquisition date. No goodwill is recognized, and excess purchase price or negative goodwill are allocated to the acquired assets on a relative fair value basis. For acquisitions that relate to entities under common control, the difference between the cash paid and historical value of the entities’ equity is recorded as a distribution/contribution from/to CEG with the offset to noncontrolling interest.
Tax Equity Arrangements	Tax Equity Arrangements Certain portions of the Company’s noncontrolling interest represent third-party interests in the net assets under tax equity arrangements, which are consolidated by the Company, that have been entered into to finance the cost of facilities eligible for certain tax credits and benefits. The Company has determined that the provisions in the contractual agreements of these noncontrolling interests represent substantive profit sharing arrangements. Further, the Company has determined that the appropriate methodology for calculating the noncontrolling interest that reflects the substantive profit sharing arrangements is a balance sheet approach utilizing the hypothetical liquidation at book value, or HLBV, method. Under the HLBV method, the amounts reported as noncontrolling interest represent the amounts the investors to the tax equity arrangements would hypothetically receive at each balance sheet date under the liquidation provisions of the contractual agreements, assuming the net assets of the funding structures were liquidated at their recorded amounts determined in accordance with GAAP. The investors’ interests in the results of operations of the funding structures are determined as the difference in noncontrolling interest at the start and end of each reporting period, after taking into account any capital transactions between the structures and the funds’ investors. The calculations utilized to apply the HLBV method include estimated calculations of taxable income or losses for each reporting period. In addition, in certain circumstances, the Company and its partners in the tax equity arrangements agree that certain tax benefits are to be utilized outside of the tax equity arrangements, which may result in differences in the amount an investor would hypothetically receive at the initial balance sheet date calculated strictly in accordance with related contractual agreements. These differences are recognized in the consolidated statements of income using a systematic and rational method over the period during which the investor is expected to achieve its target return.
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. In recording transactions and balances resulting from business operations, the Company uses estimates based on the best information available. Estimates are used for such items as plant depreciable lives, tax provisions, uncollectible accounts, AROs, acquisition accounting, fair value of financial instruments and legal costs incurred in connection with recorded loss contingencies, among others. In addition, estimates are used to test long-lived assets for impairment and to determine the fair value of impaired assets. As better information becomes available or actual amounts are determinable, the recorded estimates are revised. Consequently, operating results can be affected by revisions to prior accounting estimates.
Recently Adopted Accounting Standards and Recent Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendment improves income tax disclosure requirements by requiring public entities, on an annual basis, to provide disclosure of defined categories in the income tax rate reconciliation, as well as disclosure of income taxes paid, disaggregated by jurisdiction. This guidance must be applied prospectively and is effective for annual reporting periods in fiscal years beginning after December 15, 2024. As of December 31, 2024, the Company has elected to early adopt ASU 2023-09 prospectively and has enhanced its income tax disclosures included in Note 14, Income Taxes , to comply with the requirements. The adoption did not have an impact on the Company’s financial statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The amendment improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expense categories and details regarding information utilized to assess segment performance. Additionally, the amendment increases the frequency of disclosures by requiring Topic 280 to be applied to interim financial statements. This guidance must be applied retrospectively and is effective for annual reporting periods in fiscal years beginning after December 15, 2023, and interim reporting periods in fiscal years beginning after December 31, 2024. As of December 31, 2024, the Company has adopted ASU 2023-07 and has enhanced its reportable segment disclosures in Note 13, Segment Reporting , to comply with the requirements. The adoption did not have an impact on the Company’s financial statements. Recent Accounting Standards Not Yet Adopted In November 2024, the FASB issued ASU No 2024-03 , Income Statement - Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40). The amendment requires certain expenses presented on the face of the income statement to be disaggregated in the notes to the financial statements. This guidance is effective for annual reporting periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027. The amendments may be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to all prior periods presented in the financial statements. As of December 31, 2024, the Company has not elected to early adopt the standard and is evaluating the effect of the new guidance on its consolidated financial statements.

Nature of Business (Tables)

Nature of Business (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Structure	The diagram below represents a summarized structure of the Company as of December 31, 2024:

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
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: December 31, 2024 2023 (In millions) Cash and cash equivalents $ 332 $ 535 Restricted cash 401 516 Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 733 $ 1,051
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: December 31, 2024 2023 (In millions) Cash and cash equivalents $ 332 $ 535 Restricted cash 401 516 Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 733 $ 1,051
Schedule of Supplemental Cash Flow Information	The following table provides a disaggregation of the amounts classified as Acquisition of Drop Down Assets, net of cash acquired, shown in the consolidated statements of cash flows: Year ended December 31, 2024 2023 2022 (In millions) Cash paid to acquire Drop Down Assets $ (680) $ (173) $ (71) Cash acquired from the acquisition of Drop Down Assets 2 128 — Acquisition of Drop Down Assets, net of cash acquired $ (678) $ (45) $ (71)
Summary of 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: Year ended December 31, 2024 (In millions) Flexible Generation Renewables Total Energy revenue (a) $ 84 $ 1,089 $ 1,173 Capacity revenue (a) 262 65 327 Other revenues 5 85 90 Contract amortization (18) (166) (184) Mark-to-market for economic hedges 9 (44) (35) Total operating revenues 342 1,029 1,371 Less: Contract amortization 18 166 184 Less: Mark-to-market for economic hedges (9) 44 35 Less: Lease revenue (113) (860) (973) Total revenue from contracts with customers $ 238 $ 379 $ 617 (a) See Note 17, Leases, for the amounts of energy and capacity revenues that relate to leases and are accounted for under ASC 842. Year ended December 31, 2023 (In millions) Flexible Generation Renewables Total Energy revenue (a) $ 81 $ 942 $ 1,023 Capacity revenue (a) 336 23 359 Other revenues (a) 28 71 99 Contract amortization (20) (166) (186) Mark-to-market for economic hedges (5) 24 19 Total operating revenues 420 894 1,314 Less: Contract amortization 20 166 186 Less: Mark-to-market for economic hedges 5 (24) (19) Less: Lease revenue (274) (780) (1,054) Total revenue from contracts with customers $ 171 $ 256 $ 427 (a) See Note 17, Leases , for the amounts of energy, capacity and other revenues that relate to leases and are accounted for under ASC 842. Year ended December 31, 2022 (In millions) Flexible Generation Renewables Thermal Total Energy revenue (a) $ 6 $ 956 $ 48 $ 1,010 Capacity revenue (a) 435 2 18 455 Other revenues — 71 11 82 Contract amortization (24) (151) — (175) Mark-to-market for economic hedges — (182) — (182) Total operating revenues 417 696 77 1,190 Less: Contract amortization 24 151 — 175 Less: Mark-to-market for economic hedges — 182 — 182 Less: Lease revenue (441) (809) (1) (1,251) Total revenue from contracts with customers $ — $ 220 $ 76 $ 296 (a) See Note 17, Leases , for the amounts of energy and capacity revenues that relate to leases and are accounted for under ASC 842.
Schedule of Contract balances	The following table reflects the contract assets included on the Company’s consolidated balance sheets: (In millions) December 31, 2024 December 31, 2023 Accounts receivable, net - Contracts with customers $ 75 $ 66 Accounts receivable, net - Leases 89 105 Total accounts receivable, net $ 164 $ 171
Schedule of Changes in Asset Retirement Obligation	The following table represents the balance of AROs, along with the related activity: (In millions) Balance as of December 31, 2022 $ 157 Revisions in estimated cash flows 3 Liabilities incurred 67 Accretion expense 12 Balance as of December 31, 2023 239 Revisions in estimated cash flows (1) Liabilities incurred 14 Liabilities settled (2) Accretion expense 16 Balance as of December 31, 2024 $ 266
Schedule of Redeemable Noncontrolling Interest	The following table reflects the changes in the Company’s redeemable noncontrolling interest balance: (In millions) Balance at December 31, 2022 $ 7 Cash distributions to redeemable noncontrolling interests (3) Comprehensive income attributable to redeemable noncontrolling interests 17 Repurchase of redeemable noncontrolling interest (20) Balance at December 31, 2023 1 Cash distributions to redeemable noncontrolling interests (2) Comprehensive income attributable to redeemable noncontrolling interests 13 Repurchase of redeemable noncontrolling interest (12) Balance at December 31, 2024 $ —

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule Of Asset Acquisition	The following is a summary of assets and liabilities transferred in connection with the acquisition as of November 18, 2024: (In millions) Dan’s Mountain Property, plant and equipment (a) $ 152 Right-of-use assets 3 Total assets acquired 155 Long-term debt (b) 125 Long-term lease liabilities 3 Other current and non-current liabilities 29 Total liabilities assumed 157 Net liabilities assumed $ (2) (a) Includes Construction in progress of $150 million. (b) Includes a $77 million cash equity bridge loan and a $49 million tax equity bridge loan, offset by $1 million in unamortized debt issuance costs. See Note 10, Long-term Debt, for further discussion of the long-term debt assumed in the acquisition. The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 1, 2023: (In millions) Rosamond Central BESS Property, plant and equipment (a) $ 275 Total assets acquired 275 Other current and non-current liabilities 9 Total liabilities assumed 9 Net assets acquired $ 266 (a) Includes Construction in progress of $272 million. The following is a summary of assets and liabilities transferred in connection with the acquisition as of October 31, 2023: (In millions) Victory Pass and Arica Cash $ 1 Property, plant and equipment (a) 937 Right-of-use assets, net 4 Derivative assets 1 Other non-current assets 6 Total assets acquired 949 Long-term debt (b) 864 Long-term lease liabilities 4 Other current and non-current liabilities 82 Total liabilities assumed 950 Net liabilities assumed $ (1) (a) Includes Construction in progress of $893 million. (b) Includes a $483 million cash equity bridge loan and $385 million tax equity bridge loan, offset by $4 million in unamortized debt issuance costs. See Note 10, Long-term Debt, for further discussion of the long-term debt assumed in the acquisition. The following is a summary of assets and liabilities transferred in connection with the acquisition as of April 16, 2024: (In millions) Cedar Creek Restricted cash $ 1 Property, plant and equipment 311 Right-of-use assets, net 6 Derivative assets 14 Other current and non-current assets 14 Total assets acquired 346 Long-term debt (a) 309 Long-term lease liabilities 7 Other current and non-current liabilities 13 Total liabilities assumed 329 Net assets acquired $ 17 (a) Includes a $112 million construction loan, a $91 million cash equity bridge loan, and a $109 million tax equity bridge loan, offset by $3 million in unamortized debt issuance costs. See Note 10, Long-term Debt, for further discussion of the long-term debt assumed in the acquisition. The following is a summary of assets and liabilities transferred in connection with the acquisition as of March 15, 2024: (In millions) Texas Solar Nova 2 Restricted cash $ 1 Property, plant and equipment 280 Right-of-use assets, net 21 Derivative assets 6 Other current and non-current assets 4 Total assets acquired 312 Long-term debt (a) 194 Long-term lease liabilities 19 Other current and non-current liabilities 27 Total liabilities assumed 240 Net assets acquired $ 72 (a) Includes an $80 million term loan and a $115 million tax equity bridge loan, offset by $1 million in unamortized debt issuance costs. See Note 10, Long-term Debt, for further discussion of the long-term debt assumed in the acquisition. The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 28, 2023: (In millions) Texas Solar Nova 1 Cash $ 3 Property, plant and equipment 362 Right-of-use assets, net 21 Derivative assets 4 Other non-current assets 6 Total assets acquired 396 Long-term debt (a) 349 Long-term lease liabilities 19 Other current and non-current liabilities 34 Total liabilities assumed 402 Net liabilities assumed $ (6) (a) Includes a $90 million construction loan, $109 million cash equity bridge loan and $151 million tax equity bridge loan, offset by $1 million in unamortized debt issuance costs. See Note 10, Long-term Debt, for further discussion of the long-term debt assumed in the acquisition. The following is a summary of assets and liabilities transferred in connection with the acquisition as of August 30, 2023: (In millions) Daggett 2 Cash $ 1 Restricted cash (a) 119 Property, plant and equipment 379 Right-of-use assets, net 22 Derivative assets 22 Total assets acquired 543 Long-term debt (b) 308 Long-term lease liabilities 23 Other current and non-current liabilities 28 Total liabilities assumed 359 Noncontrolling interests 213 Net assets acquired less noncontrolling interests $ (29) (a) Includes funds that were contributed by the cash equity investor and tax equity investor, which were primarily used to pay off the tax equity bridge loan when the facility reached substantial completion on December 22, 2023, as further discussed in Note 10, Long-term Debt . (b) Includes a $107 million construction loan and $204 million tax equity bridge loan, offset by $3 million in unamortized debt issuance costs. See Note 10, Long-term Debt , for further discussion of the long-term debt assumed in the acquisition. The following is a summary of assets and liabilities transferred in connection with the acquisition as of February 17, 2023: (In millions) Daggett 3 Restricted cash $ 4 Property, plant and equipment 534 Right-of-use assets, net 31 Derivative assets 27 Total assets acquired 596 Long-term debt (a) 480 Long-term lease liabilities 33 Other current and non-current liabilities (b) 68 Total liabilities assumed 581 Net assets acquired $ 15 (a) Includes a $181 million construction loan, $75 million cash equity bridge loan and $229 million tax equity bridge loan, offset by $5 million in unamortized debt issuance costs. See Note 10, Long-term Debt , for further discussion of the long-term debt assumed in the acquisition. (b) Includes $32 million of facility costs that were subsequently funded by CEG. Subsequent to the acquisition date, CEG funded an additional $22 million in facility costs. The combined $54 million funded by CEG was repaid to CEG in October 2023.

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The Company’s major classes of property, plant, and equipment were as follows: December 31, 2024 December 31, 2023 Depreciable Lives (In millions) Facilities and equipment $ 13,302 $ 11,426 3 - 40 Years Land and improvements 537 365 Construction in progress (a) (b) 191 1,220 Total property, plant and equipment 14,030 13,011 Accumulated depreciation (4,086) (3,485) Net property, plant and equipment $ 9,944 $ 9,526 (a) As of December 31, 2024 and 2023, construction in progress included $23 million and $21 million, respectively, of capital expenditures that relate to prepaid long-term service agreements for facilities in the Flexible Generation segment. (b) As of December 31, 2024 and 2023, construction in progress included $9 million and $72 million, respectively, of accrued non-cash capital expenditures.

Investments Accounted for by _2

Investments Accounted for by the Equity Method and Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	The following table reflects the Company’s equity investments in unconsolidated affiliates as of December 31, 2024: Name Economic Interest Investment Balance (a) (In millions) Avenal 50% $ 9 Desert Sunlight 25% 217 Elkhorn Ridge 66.7% 7 GenConn (b) 50% 75 San Juan Mesa 75% 1 $ 309 (a) The Company’s maximum exposure to loss is limited to its investment balances. (b) GenConn is a VIE. The following tables present summarized financial information for the Company’s equity method investments: Year Ended December 31, 2024 2023 2022 Income Statement Data: (In millions) Desert Sunlight Operating revenues $ 206 $ 202 $ 203 Operating income 146 144 137 Net income 113 108 114 Other (a) Operating revenues 95 94 102 Operating income 25 23 34 Net income 16 13 22 As of December 31, 2024 2023 Balance Sheet Data: (In millions) Desert Sunlight Current assets $ 81 $ 80 Non-current assets 1,086 1,131 Current liabilities 63 61 Non-current liabilities 726 776 Other (b) Current assets 63 58 Non-current assets 391 429 Current liabilities 27 28 Non-current liabilities 225 243 (a) Includes Avenal, Elkhorn Ridge, GenConn and San Juan Mesa. (b) Includes Avenal, Elkhorn Ridge, GenConn and San Juan Mesa as of December 31, 2024 and 2023. Includes Rosie Central BESS only as of December 31, 2023 since the equity investment was redeemed on June 13, 2024, as further described above.
Schedule of Variable Interest Entities	Summarized financial information for the Company’s consolidated VIEs consisted of the following as of December 31, 2024: (In millions) Buckthorn Holdings, LLC Cedar Creek TE Holdco LLC Cedro Hill TE Holdco LLC Daggett Renewable Holdco LLC (a) DGPV Funds (b) Lighthouse Renewable Holdco LLC (c) Lighthouse Renewable Holdco 2 LLC (d) Other current and non-current assets $ 3 $ 40 $ 62 $ 152 $ 26 $ 67 $ 143 Property, plant and equipment 178 313 213 946 217 393 1,296 Intangible assets — — — — — — 2 Total assets 181 353 275 1,098 243 460 1,441 Total liabilities 13 118 31 447 26 136 569 Noncontrolling interest 5 113 145 796 3 240 668 Net assets less noncontrolling interest $ 163 $ 122 $ 99 $ (145) $ 214 $ 84 $ 204 (a) Daggett Renewable Holdco LLC consolidates Daggett TE Holdco LLC and Daggett 2 TE Holdco LLC, which are consolidated VIEs. (b) DGPV Funds is comprised of Clearway & EFS Distributed Solar LLC, Golden Puma Fund LLC and Renew Solar CS4 Fund LLC, which are all tax equity funds. (c) Lighthouse Renewable Holdco LLC consolidates Black Rock TE Holdco LLC and Mililani TE Holdco LLC, which are consolidated VIEs. (d) Lighthouse Renewable Holdco 2 LLC consolidates Mesquite Sky TE Holdco LLC, Mesquite Star Tax Equity Holdco LLC and TSN1 TE Holdco LLC, which are consolidated VIEs. (In millions) Oahu Solar LLC Rattlesnake TE Holdco LLC Rosie TargetCo LLC VP-Arica TargetCo LLC (a) Wildorado TE Holdco LLC Other (b) Other current and non-current assets $ 37 $ 13 $ 62 $ 66 $ 26 $ 62 Property, plant and equipment 149 165 527 988 178 488 Intangible assets — — — 2 — 13 Total assets 186 178 589 1,056 204 563 Total liabilities 22 17 218 40 18 315 Noncontrolling interest 20 74 256 308 81 150 Net assets less noncontrolling interest $ 144 $ 87 $ 115 $ 708 $ 105 $ 98 (a) VP-Arica TargetCo LLC consolidates VP-Arica TE Holdco LLC, a consolidated VIE that owns the Victory Pass and Arica solar and BESS facilities. (b) Other is comprised of Dan’s Mountain TargetCo LLC, which consolidates Dan’s Mountain Tax Credit Holdco LLC, Elbow Creek TE Holdco LLC, Langford TE Partnership LLC, Pinnacle Repowering TE Holdco LLC and the Spring Canyon facilities.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Estimated Carrying Amounts and Fair Values	The carrying amount and estimated fair value of the Company’s recorded financial instrument not carried at fair market value or that does not approximate fair value is as follows: As of December 31, 2024 As of December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Liabilities: Long-term debt, including current portion (a) $ 7,237 $ 6,715 $ 8,102 $ 7,611 (a) Excludes net debt issuance costs, which are recorded as a reduction to long-term debt on the Company’s consolidated balance sheets.
Schedule of Fair Value Option, Disclosures	The following table presents the level within the fair value hierarchy for long-term debt, including current portion: As of December 31, 2024 As of December 31, 2023 Level 2 Level 3 Level 2 Level 3 (In millions) Long-term debt, including current portion $ 1,922 $ 4,793 $ 1,939 $ 5,672
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 December 31, 2024 As of December 31, 2023 Fair Value (a) Fair Value (a) (In millions) Level 2 (b) Level 3 Level 2 (b) Level 3 Derivative assets Energy-related commodity contracts (c) $ — $ 9 $ 2 $ — Interest rate contracts 166 — 121 — Other financial instruments (d) — 10 — 13 Total assets $ 166 $ 19 $ 123 $ 13 Derivative liabilities Energy-related commodity contracts (e) $ — $ 371 $ — $ 330 Interest rate contracts — — 2 — Total liabilities $ — $ 371 $ 2 $ 330 (a) There were no derivative assets or liabilities classified as Level 1 as of December 31, 2024 and 2023. (b) The Company’s interest rate swaps are measured at fair value using an income approach, which use readily observable inputs, such as forward interest rates (e.g., SOFR) and contractual terms to estimate fair value. (c) Includes long-term backbone transportation service contracts classified as Level 2 and heat rate call option contracts classified as Level 3. (d) Includes SREC contract. (e) Includes long-term power commodity contracts and heat rate call option contracts classified as Level 3. As of December 31, 2024 and 2023, $366 million and $325 million related to long-term power commodity contracts, respectively, and $5 million related to heat rate call option contracts. 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: Year ended December 31, 2024 2023 (In millions) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Beginning balance $ (317) $ (336) Settlements (2) 28 Total losses for the period included in earnings (33) (9) Ending balance $ (352) $ (317) Change in unrealized losses included in earnings for derivatives and other financial instruments held as of December 31, $ (33) $ (9) The following tables quantify the significant unobservable inputs used in developing the fair value of the Company’s Level 3 positions: December 31, 2024 Fair Value Input/Range Assets Liabilities Valuation Technique Significant Unobservable Input Low High Weighted Average (In millions) Long-term Power Commodity Contracts $ — $ 366 Discounted Cash Flow Forward Market Price (per MWh) $ 21.60 $ 80.82 $ 45.44 Heat Rate Call Option Commodity Contracts 9 5 Option Model Forward Market Price (per MWh) $ (19.30) $ 1,011.79 $ 45.87 Option Model Forward Market Price (per MMBtu) $ 0.85 $ 10.55 $ 3.25 Other Financial Instruments 10 — Discounted Cash Flow Forecast annual generation levels of certain DG solar facilities 59,425 MWh 118,850 MWh 111,091 MWh December 31, 2023 Fair Value Input/Range Assets Liabilities Valuation Technique Significant Unobservable Input Low High Weighted Average (In millions) Long-term Power Commodity Contracts $ — $ 325 Discounted Cash Flow Forward Market Price (per MWh) $ 18.18 $ 81.62 $ 39.91 Heat Rate Call Option Commodity Contracts — 5 Option Model Forward Market Price (per MWh) $ (43.96) $ 343.61 $ 64.34 Option Model Forward Market Price (per MMBtu) $ 1.25 $ 13.69 $ 4.93 Other Financial Instruments 13 — Discounted Cash Flow Forecast annual generation levels of certain DG solar facilities 60,801 MWh 121,602 MWh 115,622 MWh
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The following table provides the impact on the fair value measurements to increases/(decreases) in significant unobservable inputs as of December 31, 2024 and 2023 : Type Significant Observable Input Position Change In Input Impact on Fair Value Measurement Energy-Related Commodity Contracts Forward Market Price Power Sell Increase/(Decrease) Lower/(Higher) Energy-Related Commodity Contracts Forward Market Price Gas Sell Increase/(Decrease) Higher/(Lower) Other Financial Instruments Forecast Generation Levels Sell Increase/(Decrease) Higher/(Lower)

Accounting for Derivative Ins_2

Accounting for Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of 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: Total Volume December 31, 2024 December 31, 2023 Commodity Units (In millions) Power MWh (25) (23) Natural Gas MMBtu 11 17 Interest Dollars $ 1,769 $ 2,467
Schedule of 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 December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 (In millions) Derivatives Designated as Cash Flow Hedges: Interest rate contracts current $ 5 $ 7 $ — $ — Interest rate contracts long-term 22 12 — 2 Total Derivatives Designated as Cash Flow Hedges $ 27 $ 19 $ — $ 2 Derivatives Not Designated as Cash Flow Hedges: Interest rate contracts current $ 30 $ 33 $ — $ — Interest rate contracts long-term 109 69 — — Energy-related commodity contracts current 4 1 56 51 Energy-related commodity contracts long-term 5 1 315 279 Total Derivatives Not Designated as Cash Flow Hedges $ 148 $ 104 $ 371 $ 330 Total Derivatives $ 175 $ 123 $ 371 $ 332
Schedule of 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 December 31, 2024 Gross Amounts of Recognized Assets/Liabilities Derivative Instruments Net Amount Energy-related commodity contracts (In millions) Derivative assets $ 9 $ — $ 9 Derivative liabilities (371) — (371) Total energy-related commodity contracts $ (362) $ — $ (362) Interest rate contracts Derivative assets $ 166 $ — $ 166 Total interest rate contracts $ 166 $ — $ 166 Total derivative instruments $ (196) $ — $ (196) Gross Amounts Not Offset in the Statement of Financial Position As of December 31, 2023 Gross Amounts of Recognized Assets/Liabilities Derivative Instruments Net Amount Energy-related commodity contracts (In millions) Derivative assets $ 2 $ — $ 2 Derivative liabilities (330) — (330) Total energy-related commodity contracts $ (328) $ — $ (328) Interest rate contracts Derivative assets $ 121 $ (2) $ 119 Derivative liabilities (2) 2 — Total interest rate contracts $ 119 $ — $ 119 Total derivative instruments $ (209) $ — $ (209)
Summary of 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 OCI (OCL) balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax: Year ended December 31, 2024 2023 2022 (In millions) Accumulated OCI (OCL) beginning balance $ 18 $ 24 $ (11) Reclassified from accumulated OCI (OCL) to income due to realization of previously deferred amounts (1) (4) 4 Capistrano Wind Portfolio Acquisition (a) — — 7 Mark-to-market of cash flow hedge accounting contracts (3) (2) 24 Accumulated OCI ending balance, net of income tax expense of $1, $2 and $3, respectively 14 18 24 Accumulated OCI attributable to noncontrolling interests 11 11 15 Accumulated OCI attributable to Clearway Energy, Inc. $ 3 $ 7 $ 9 Income expected to be realized from OCI during the next 12 months, net of income tax expense of $1 $ 1 (a) Represents $4 million attributable to Clearway Energy, Inc. and $3 million attributable to noncontrolling interests.
Schedule of Derivative Gains and Losses	Mark-to-market gains/(losses) related to the Company’s derivatives are recorded in the consolidated statements of income as follows: Year ended December 31, 2024 2023 2022 (In millions) Interest Rate Contracts (Interest expense) $ 29 $ (17) $ 100 Energy-Related Commodity Contracts (Mark-to-market for economic hedging activities included in Total operating revenues) (a) (32) 23 (174) Energy-Related Commodity Contracts (Mark-to-market for economic hedging activities included in Cost of operations) (b) (2) 2 — (a) Relates to long-term energy-related commodity contracts at Elbow Creek, Mesquite Star, Mt. Storm, Langford and Mesquite Sky and heat rate call option energy-related commodity contracts at El Segundo, Marsh Landing and Walnut Creek. (b) Relates to long-term backbone transportation service energy-related commodity contracts at El Segundo and Walnut Creek.

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of the Components of the Company's Intangible Assets Subject to Amortization	The following tables summarize the components of intangible assets subject to amortization: Year ended December 31, 2024 PPAs Leasehold Rights Emission Allowances Other Total (In millions) January 1, 2024 $ 3,265 $ 86 $ 17 $ 15 $ 3,383 Other — — — 4 4 December 31, 2024 3,265 86 17 19 3,387 Less accumulated amortization (1,140) (42) (5) (7) (1,194) Net carrying amount $ 2,125 $ 44 $ 12 $ 12 $ 2,193 Year ended December 31, 2023 PPAs Leasehold Rights Emission Allowances Other Total (In millions) January 1, 2023 $ 3,321 $ 86 $ 17 $ 18 $ 3,442 Walnut Creek PPA expiration (50) — — — (50) Other (6) — — (3) (9) December 31, 2023 3,265 86 17 15 3,383 Less accumulated amortization (962) (38) (4) (5) (1,009) Net carrying amount $ 2,303 $ 48 $ 13 $ 10 $ 2,374
Schedule Future Amortization Expense for Intangibles	The Company estimates the future amortization expense for its intangibles for the next five years as follows: (In millions) 2025 $ 185 2026 185 2027 185 2028 185 2029 185

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The Company’s borrowings, including short-term and long-term portions, consisted of the following: December 31, 2024 December 31, 2023 Interest rate % (a)(b) Letters of Credit Outstanding at December 31, 2024 (In millions, except rates) 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 2028 (b) — — S+1.500 $ 103 Non-recourse facility level debt: Agua Caliente Solar LLC, due 2037 574 612 2.395-3.633 14 Alta Wind Asset Management LLC, due 2031 10 11 S+2.775 — Alta Wind I-V lease financing arrangements, due 2034 and 2035 609 660 5.696-7.015 67 Alta Wind Realty Investments LLC, due 2031 18 20 7.000 — Borrego, due 2038 45 48 5.650 4 Broken Bow, due 2031 (d) — 41 — Buckthorn Solar, due 2025 112 116 S+2.100 20 Capistrano Portfolio Holdco LLC, due 2033 (d) 118 — S+1.625 42 Carlsbad Energy Holdings LLC, due 2027 70 93 S+1.900 63 Carlsbad Energy Holdings LLC, due 2038 407 407 4.120 — Carlsbad Holdco, LLC, due 2038 193 195 4.210 5 Cedar Creek, due 2029 108 — S+1.625 19 Cedro Hill, due 2029 99 165 S+1.750 3 Crofton Bluffs, due 2031 (d) — 27 — CVSR, due 2037 573 601 2.339-3.775 — CVSR Holdco Notes, due 2037 143 152 4.680 12 Daggett 2, due 2028 155 156 S+1.762 32 Daggett 3, due 2028 217 217 S+1.762 44 Dan’s Mountain, due 2025 143 — S+1.250 5 DG-CS Master Borrower LLC, due 2040 356 385 3.510 30 Mililani Class B Member Holdco LLC, due 2028 90 92 S+1.600 18 Natural Gas Holdco LC Facility, due 2027 — — S+1.750 105 NIMH Solar, due 2031 and 2033 126 148 S+2.000-2.125 11 Oahu Solar Holdings LLC, due 2026 78 81 S+1.775 10 Rosie Class B LLC, due 2029 191 347 S+1.750 28 Texas Solar Nova 1, due 2028 (c) — 102 — TSN1 Class B Member LLC, due 2029 (c) 176 — S+1.750 52 Utah Solar Holdings, due 2036 228 242 3.590 154 Viento Funding II, LLC, due 2029 160 175 S+1.475 29 Victory Pass and Arica, due 2024 — 757 — Other 111 124 Various 49 Subtotal non-recourse facility-level debt 5,110 5,974 Total debt 7,235 8,099 Less current maturities (430) (558) Less net debt issuance costs (57) (65) Add premiums (e) 2 3 Total long-term debt $ 6,750 $ 7,479 (a) As of December 31, 2024, S+ equals SOFR plus x%. (b) Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement, and only applies to outstanding borrowings. (c) On March 15, 2024, Texas Solar Nova 1’s financing agreement was amended to merge the facility-level debt of Texas Solar Nova 1 and Texas Solar Nova 2 as a combined term loan under TSN1 Class B Member LLC. (d) On October 23, 2024, the outstanding debt of Broken Bow and Crofton Bluffs was paid off utilizing the proceeds from the Capistrano Portfolio Holdco LLC term loan that was issued on the same day. (e) Premiums relate to the 2028 Senior Notes.
Summary of Swaps Related to the Company's Project Level Debt	The following table summarizes the swaps, some of which are forward starting as indicated, related to the Company’s facility level debt: % of Principal Fixed Interest Rate Floating Interest Rate Notional Amount at December 31, 2024 (In millions) Effective Date Maturity Date Avra Valley 85 % 2.20 % SOFR $ 26 March 31, 2023 January 31, 2031 Alta Wind Asset Management 100 % 2.22 % SOFR 10 May 22, 2013 May 15, 2031 Buckthorn Solar 80 % Various SOFR 90 February 28, 2018 December 31, 2041 Capistrano Portfolio Holdco 100 % Various SOFR 118 October 23, 2024 September 28, 2033 Carlsbad Energy Holdings 100 % Various SOFR 70 Various September 30, 2027 Cedar Creek 100 % 3.02 % SOFR 108 April 30, 2024 March 31, 2049 Cedro Hill 85 % Various SOFR 84 Various September 30, 2044 Daggett 2 89 % Various SOFR 137 March 29, 2024 March 31, 2043 Daggett 3 85 % Various SOFR 184 Various September 30, 2043 Dan’s Mountain 93 % 4.97 % SOFR 133 March 29, 2024 February 28, 2025 Kansas South 75 % 1.93 % SOFR 11 June 28, 2013 December 31, 2030 Mililani Class B 97 % Various SOFR 87 Various Various NIMH Solar 100 % 3.25 % SOFR 126 June 11, 2024 January 31, 2033 Oahu Solar 96 % 2.47 % SOFR 75 November 30, 2019 October 31, 2040 Rosie Class B 94 % Various SOFR 179 Various Various South Trent 90 % Various SOFR 18 Various June 30, 2028 TSN1 Class B 96 % Various SOFR 169 March 29, 2024 September 30, 2043 Viento Funding II 90 % 2.53 % SOFR 144 Various December 31, 2032 Total $ 1,769
Schedule of Annual Payments Based on the Maturities of NRG Yield's Debt	Annual payments based on the maturities of the Company’s debt, for the years ending after December 31, 2024, are as follows: (In millions) 2025 (a) $ 555 2026 393 2027 333 2028 1,626 2029 821 Thereafter 3,507 Total $ 7,235 (a) At December 31, 2024, amount includes $125 million of construction-related financings recorded in long-term debt on the Company’s consolidated balance sheet that is being funded through long-term equity contributions.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic	The reconciliation of the Company’s basic and diluted earnings per share is shown in the following table: Year Ended December 31, 2024 2023 2022 (In millions, except per share data) (a) Common Class A Common Class C Common Class A Common Class C Common Class A Common Class C Basic and diluted income per share attributable to Clearway Energy, Inc. common stockholders Net income attributable to Clearway Energy, Inc. $ 26 $ 62 $ 23 $ 56 $ 172 $ 410 Weighted average number of common shares outstanding — basic and diluted 35 83 35 82 35 82 Earnings per weighted average common share — basic and diluted $ 0.75 $ 0.75 $ 0.67 $ 0.67 $ 4.99 $ 4.99 (a)
Schedule of Earnings Per Share, Diluted	The reconciliation of the Company’s basic and diluted earnings per share is shown in the following table: Year Ended December 31, 2024 2023 2022 (In millions, except per share data) (a) Common Class A Common Class C Common Class A Common Class C Common Class A Common Class C Basic and diluted income per share attributable to Clearway Energy, Inc. common stockholders Net income attributable to Clearway Energy, Inc. $ 26 $ 62 $ 23 $ 56 $ 172 $ 410 Weighted average number of common shares outstanding — basic and diluted 35 83 35 82 35 82 Earnings per weighted average common share — basic and diluted $ 0.75 $ 0.75 $ 0.67 $ 0.67 $ 4.99 $ 4.99 (a)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity, Attributable to Parent [Abstract]
Schedule of Dividends Paid	The following tables list the dividends paid on the Company’s Class A and Class C common stock during the years ended December 31, 2024, 2023 and 2022: Fourth Quarter 2024 Third Quarter 2024 Second Quarter 2024 First Quarter 2024 Dividends per Class A share $ 0.4240 $ 0.4171 $ 0.4102 $ 0.4033 Dividends per Class C share 0.4240 0.4171 0.4102 0.4033 Fourth Quarter 2023 Third Quarter 2023 Second Quarter 2023 First Quarter 2023 Dividends per Class A share $ 0.3964 $ 0.3891 $ 0.3818 $ 0.3745 Dividends per Class C share 0.3964 0.3891 0.3818 0.3745 Fourth Quarter 2022 Third Quarter 2022 Second Quarter 2022 First Quarter 2022 Dividends per Class A share $ 0.3672 $ 0.3604 $ 0.3536 $ 0.3468 Dividends per Class C share 0.3672 0.3604 0.3536 0.3468
Schedule of Distributions Paid	The following tables list the distributions paid to CEG during the years ended December 31, 2024, 2023 and 2022 on Clearway Energy LLC’s Class B and D units: Fourth Quarter 2024 Third Quarter 2024 Second Quarter 2024 First Quarter 2024 Distributions per Class B unit $ 0.4240 $ 0.4171 $ 0.4102 $ 0.4033 Distributions per Class D unit 0.4240 0.4171 0.4102 0.4033 Fourth Quarter 2023 Third Quarter 2023 Second Quarter 2023 First Quarter 2023 Distributions per Class B unit $ 0.3964 $ 0.3891 $ 0.3818 $ 0.3745 Distributions per Class D unit 0.3964 0.3891 0.3818 0.3745 Fourth Quarter 2022 Third Quarter 2022 Second Quarter 2022 First Quarter 2022 Distributions per Class B unit $ 0.3672 $ 0.3604 $ 0.3536 $ 0.3468 Distributions per Class D unit 0.3672 0.3604 0.3536 0.3468

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Revenue by Major Customers by Reporting Segments	Also, the Company generated more than 10% of its revenues from the following customers for the years ended December 31, 2024, 2023 and 2022: 2024 2023 2022 Customer Flexible Generation Renewables Flexible Generation Renewables Flexible Generation Renewables SCE 7% 17% 11% 13% 17% 17% PG&E 3% 14% 4% 13% 10% 15%
Schedule of Segment Reporting Information	Year ended December 31, 2024 (In millions) Flexible Generation Renewables Corporate (a) Total Operating revenues $ 342 $ 1,029 $ — $ 1,371 Cost of operations, exclusive of depreciation, amortization and accretion shown separately below 137 367 (3) 501 Depreciation, amortization and accretion 115 512 — 627 General and administrative — — 39 39 Transaction and integration costs — — 8 8 Operating income (loss) 90 150 (44) 196 Equity in earnings of unconsolidated affiliates 3 32 — 35 Other income, net 6 31 11 48 Loss on debt extinguishment — (5) — (5) Interest expense (35) (176) (96) (307) Income (loss) before income taxes 64 32 (129) (33) Income tax expense — 1 29 30 Net Income (Loss) 64 31 (158) (63) Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests — (236) 85 (151) Net Income (Loss) Attributable to Clearway Energy, Inc. $ 64 $ 267 $ (243) $ 88 Balance Sheet Equity investments in affiliates $ 75 $ 234 $ — $ 309 Capital expenditures (b) 9 179 — 188 Total Assets $ 1,933 $ 12,236 $ 160 $ 14,329 (a) Includes eliminations. (b) Includes accruals. Year ended December 31, 2023 (In millions) Flexible Generation Renewables Corporate (a) Total Operating revenues $ 420 $ 894 $ — $ 1,314 Cost of operations, exclusive of depreciation, amortization and accretion shown separately below 154 321 (2) 473 Depreciation, amortization and accretion 129 397 — 526 Impairment losses — 12 — 12 General and administrative — — 36 36 Transaction and integration costs — — 4 4 Operating income (loss) 137 164 (38) 263 Equity in earnings of unconsolidated affiliates 3 9 — 12 Other income, net 4 24 24 52 Loss on debt extinguishment — (6) — (6) Interest expense (35) (205) (97) (337) Income (loss) before income taxes 109 (14) (111) (16) Income tax benefit — (2) — (2) Net Income (Loss) 109 (12) (111) (14) Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests — (162) 69 (93) Net Income (Loss) Attributable to Clearway Energy, Inc. $ 109 $ 150 $ (180) $ 79 Balance Sheet Equity investments in affiliates $ 79 $ 281 $ — $ 360 Capital expenditures (b) 11 146 — 157 Total Assets $ 2,058 $ 12,205 $ 438 $ 14,701 (a) Includes eliminations. (b) Includes accruals. Year ended December 31, 2022 (In millions) Flexible Generation Renewables Thermal Corporate (a) Total Operating revenues $ 417 $ 696 $ 77 $ — $ 1,190 Cost of operations, exclusive of depreciation, amortization and accretion shown separately below 89 298 50 (2) 435 Depreciation, amortization and accretion 131 381 — — 512 Impairment losses — 16 — — 16 General and administrative — — 2 38 40 Transaction and integration costs — — — 7 7 Development costs — — 2 — 2 Total operating costs and expenses 220 695 54 43 1,012 Gain on sale of business — — — 1,292 1,292 Operating income 197 1 23 1,249 1,470 Equity in earnings of unconsolidated affiliates 3 26 — — 29 Other income, net 1 6 — 10 17 Loss on debt extinguishment — (2) — — (2) Interest expense (40) (87) (6) (99) (232) Income (loss) before income taxes 161 (56) 17 1,160 1,282 Income tax expense — 2 — 220 222 Net Income (Loss) 161 (58) 17 940 1,060 Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests — (107) — 585 478 Net Income Attributable to Clearway Energy, Inc. $ 161 $ 49 $ 17 $ 355 $ 582 (a) Includes eliminations.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision From Continuing Operations	The income tax provision consisted of the following amounts: Year Ended December 31, 2024 2023 2022 (In millions) Current U.S. Federal $ 1 $ (13) $ — State 4 (2) 28 Total — current 5 (15) 28 Deferred U.S. Federal $ 22 $ 13 $ 150 State 3 — 44 Total — deferred 25 13 194 Total income tax expense (benefit) $ 30 $ (2) $ 222
Schedule of Reconciliation of the U.S. Federal Statutory Rate to the Company's Effective Rate	The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Company’s effective rate for the year ended December 31, 2024 in accordance with the guidance in ASU No. 2023-09: Year Ended December 31, 2024 (In millions, except percentages) Loss Before Income Taxes $ (33) Tax at 21% (7) 21.0 % State taxes, net of federal benefit (a) 6 (18.2) % Tax credits (4) 12.1 % Nontaxable/nondeductible items: HLBV impact 32 (96.9) % Employee share-based payments 2 (6.0) % Other 1 (2.9) % Income tax expense $ 30 (90.9) % Effective income tax rate (90.9) % (a) State taxes in California made up the majority of the tax effect in this category. The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Company’s effective rate for the years ended December 31, 2023 and 2022 in accordance with the guidance prior to the adoption of ASU 2023-09: Year Ended December 31, 2023 2022 (In millions, except percentages) (Loss) Income Before Income Taxes $ (16) $ 1,282 Tax at 21% (3) 269 State taxes, net of federal benefit (2) 58 Impact of non-taxable partnership earnings (losses) 21 (101) Valuation allowance 3 — Investment tax credits (1) — Production tax credits (a) (16) (2) Rate change 1 (2) State taxes assessed at subsidiaries (3) 2 Other (2) (2) Income tax (benefit) expense $ (2) $ 222 Effective income tax rate 12.5 % 17.3 % (a) On December 6, 2023, the Company executed an agreement with a third party to sell the PTCs generated by the Alta X and Alta XI wind facilities, which resulted in a $14 million income tax benefit (reduction to income tax expense) during the year ended December 31, 2023.
Schedule of Company's Deferred Tax Assets and Liabilities	The temporary differences, which gave rise to the Company’s deferred tax balances consisted of the following: As of December 31, 2024 2023 (In millions) Deferred tax liabilities: Investment in projects $ 191 $ 241 Total deferred tax liabilities 191 241 Deferred tax assets: Interest expense disallowance carryforward - Investment in Projects $ 18 $ 17 Production tax credits 16 15 Investment tax credits 7 6 U.S. Federal net operating loss carryforwards 58 73 State net operating loss carryforwards 7 7 Total deferred tax assets 106 118 Valuation allowance (4) (4) Total deferred tax assets, net of valuation allowance 102 114 Net deferred non-current tax liability $ (89) $ (127)

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Lease Information and Expense	Lease expense was comprised of the following: Year Ended December 31, (In millions) 2024 2023 2022 Operating lease cost - Fixed $ 31 $ 40 $ 36 Operating lease cost - Variable 12 11 11 Total lease cost $ 43 $ 51 $ 47 Operating lease information was as follows: Year Ended December 31, (In millions) 2024 2023 2022 Cash paid for operating leases $ 34 $ 30 $ 28 (In millions, except term and rate) December 31, 2024 December 31, 2023 Right-of-use assets - operating leases, net $ 547 $ 597 Short-term lease liability - operating leases (a) $ 10 $ 7 Long-term lease liability - operating leases 569 627 Total lease liabilities $ 579 $ 634 Weighted average remaining lease term (in years) 26 28 Weighted average discount rate 4.5 % 4.2 % (a) Short-term lease liability balances are included within the accrued expenses and other current liabilities line item of the consolidated balance sheets as of December 31, 2024 and 2023.
Schedule of Maturities of Operating Lease Liabilities	Minimum future rental payments of operating lease liabilities as of December 31, 2024 are as follows: (In millions) 2025 $ 34 2026 34 2027 35 2028 35 2029 35 Thereafter 771 Total lease payments 944 Less imputed interest (365) Total lease liability - operating leases $ 579
Schedule of Components of Leveraged Lease Investments	The Company is party to various land lease agreements with wholly-owned subsidiaries of CEG that are accounted for as operating leases. The following table summarizes the land lease agreements: (In millions) Right-of-use assets, net Long-term lease liabilities Lease expiration As of December 31, 2024 Daggett 2 $ 22 $ 23 June 30, 2058 Daggett 3 30 34 December 18, 2062 Mililani I 18 21 March 31, 2057 Oahu Solar (a) 17 19 August 1, 2057 Rosamond Central (a) 11 12 March 31, 2056 As of December 31, 2023 Daggett 2 $ 22 $ 23 June 30, 2058 Daggett 3 31 33 December 18, 2062 Mililani I 19 20 March 31, 2057 Oahu Solar (a) 17 20 August 1, 2057 Rosamond Central (a) 11 12 March 31, 2056 (a) The Company has the ability to extend each of these leases for two additional five-year periods.
Schedule of Energy and Capacity Revenue	The following amounts of energy, capacity and other revenues are related to the Company’s operating leases: Flexible Generation Renewables Total December 31, 2024 (In millions) Energy revenue $ 3 $ 817 $ 820 Capacity revenue 110 43 153 Operating revenues $ 113 $ 860 $ 973 Flexible Generation Renewables Total December 31, 2023 (In millions) Energy revenue $ 4 $ 760 $ 764 Capacity revenue 249 20 269 Other revenues (a) 21 — 21 Operating revenues $ 274 $ 780 $ 1,054 (a) On May 31, 2023, the Marsh Landing Black Start addition reached commercial operations and the Company will receive an annual fixed fee over a five-year term under the related agreement. The agreement was determined to be a sales-type lease resulting in the Company recording a lease receivable of $21 million included in total operating revenues, offset by net investment costs of $13 million included in cost of operations, resulting in a net pre-tax profit of $8 million. The lease receivable is included in other current and non-current assets on the Company’s consolidated balance sheet. Flexible Generation Renewables Thermal Total December 31, 2022 (In millions) Energy revenue $ 6 $ 809 $ 1 $ 816 Capacity revenue 435 — — 435 Operating revenues $ 441 $ 809 $ 1 $ 1,251
Schedule of Minimum Future Rent Payments Under the Operating Leases	Minimum future rent payments the Company expects to receive for the remaining periods related to various facility operating leases as of December 31, 2024 were as follows: (In millions) 2025 $ 168 2026 170 2027 171 2028 172 2029 173 Thereafter 1,700 Total lease payments $ 2,554
Schedule of Property, Plant, and Equipment Net	Property, plant and equipment, net related to the Company’s operating leases were as follows: (In millions) December 31, 2024 December 31, 2023 Property, plant and equipment $ 6,284 $ 5,720 Accumulated depreciation (2,276) (1,991) Net property, plant and equipment $ 4,008 $ 3,729

Nature of Business (Details)

Nature of Business (Details)		12 Months Ended
	Oct. 01, 2024	Dec. 31, 2024 state GW
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Power generation capacity, gigawatts (over)		11.8
Number of states | state		26
Conventional Generation, Utility-Scale Solar, Distributed Solar, and Wind
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Power generation capacity, gigawatts (over)		9
Generational Facilities and District Energy Systems
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Power generation capacity, gigawatts (over)		2.8
Black Rock Drop Down | Global Infrastructure Management
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest (as a percentage)	100%
Clearway Energy, Inc. | Clearway Energy LLC
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest (as a percentage)		58.10%
Clearway Energy LLC | CEG
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest (as a percentage)		41.90%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	May 01, 2022
Summary of Significant Accounting Policies [Line Items]
Restricted cash	$ 184,000,000	$ 176,000,000
Restricted cash, current	401,000,000	516,000,000
Allowance for credit losses	0	0
Interest costs capitalized	28,000,000	36,000,000	$ 2,000,000
Contingent lease revenue recognized	$ 831,000,000	$ 780,000,000	$ 850,000,000
Income tax benefit threshold	50%
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Operating revenues	Operating revenues	Operating revenues
Disposed of by Sale | Thermal
Summary of Significant Accounting Policies [Line Items]
Assets ownership sold (as a percentage)				100%
Long-Term Debt, Current
Summary of Significant Accounting Policies [Line Items]
Restricted cash, current	$ 37,000,000	$ 178,000,000
Debt Service Obligations
Summary of Significant Accounting Policies [Line Items]
Restricted cash, current	102,000,000	85,000,000
Cash Distribution
Summary of Significant Accounting Policies [Line Items]
Restricted cash, current	78,000,000	77,000,000
Operating Funds
Summary of Significant Accounting Policies [Line Items]
Restricted cash, current	184,000,000	176,000,000
Project Level Subsidiaries
Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents held at project subsidiaries	$ 194,000,000	$ 125,000,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Cash and Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 332	$ 535
Restricted cash	401	516
Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$ 733	$ 1,051	$ 996	$ 654

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Summary of Significant Accounting Policies [Line Items]
Acquisition of Drop Down Assets, net of cash acquired	$ (678)	$ (45)	$ (71)
Drop Down
Summary of Significant Accounting Policies [Line Items]
Cash paid to acquire Drop Down Assets	(680)	(173)	(71)
Cash acquired from the acquisition of Drop Down Assets	2	128	0
Acquisition of Drop Down Assets, net of cash acquired	$ (678)	$ (45)	$ (71)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Disaggregated Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Operating revenues	$ 1,371	$ 1,314	$ 1,190
Mark-to-market for economic hedges	(35)
Total operating revenues	1,371	$ 1,314	$ 1,190
Less: Mark-to-market for economic hedges	$ 35
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Total operating revenues	Total operating revenues	Total operating revenues
Flexible Generation | Energy revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue	$ (3)	$ (4)	$ (6)
Flexible Generation | Capacity revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue	(110)	(249)	(435)
Renewables | Energy revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue	(817)	(760)	(809)
Renewables | Capacity revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue	(43)	(20)	0
Thermal | Energy revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue			(1)
Thermal | Capacity revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue			0
Operating Segments
Disaggregation of Revenue [Line Items]
Operating revenues	1,371	1,314	1,190
Contract amortization	(184)	(186)	(175)
Mark-to-market for economic hedges	(35)	19	(182)
Total operating revenues	1,371	1,314	1,190
Less: Contract amortization	184	186	175
Less: Mark-to-market for economic hedges	35	(19)	182
Less: Lease revenue	(973)	(1,054)	(1,251)
Total revenue from contracts with customers	617	427	296
Operating Segments | Energy revenue
Disaggregation of Revenue [Line Items]
Operating revenues	1,173	1,023	1,010
Total operating revenues	1,173	1,023	1,010
Operating Segments | Capacity revenue
Disaggregation of Revenue [Line Items]
Operating revenues	327	359	455
Total operating revenues	327	359	455
Operating Segments | Other revenues
Disaggregation of Revenue [Line Items]
Operating revenues	90	99	82
Total operating revenues	90	99	82
Operating Segments | Flexible Generation
Disaggregation of Revenue [Line Items]
Operating revenues	342	420	417
Contract amortization	(18)	(20)	(24)
Mark-to-market for economic hedges	9	(5)	0
Total operating revenues	342	420	417
Less: Contract amortization	18	20	24
Less: Mark-to-market for economic hedges	(9)	5	0
Less: Lease revenue	(113)	(274)	(441)
Total revenue from contracts with customers	238	171	0
Operating Segments | Flexible Generation | Energy revenue
Disaggregation of Revenue [Line Items]
Operating revenues	84	81	6
Total operating revenues	84	81	6
Operating Segments | Flexible Generation | Capacity revenue
Disaggregation of Revenue [Line Items]
Operating revenues	262	336	435
Total operating revenues	262	336	435
Operating Segments | Flexible Generation | Other revenues
Disaggregation of Revenue [Line Items]
Operating revenues	5	28	0
Total operating revenues	5	28	0
Operating Segments | Renewables
Disaggregation of Revenue [Line Items]
Operating revenues	1,029	894	696
Contract amortization	(166)	(166)	(151)
Mark-to-market for economic hedges	(44)	24	(182)
Total operating revenues	1,029	894	696
Less: Contract amortization	166	166	151
Less: Mark-to-market for economic hedges	44	(24)	182
Less: Lease revenue	(860)	(780)	(809)
Total revenue from contracts with customers	379	256	220
Operating Segments | Renewables | Energy revenue
Disaggregation of Revenue [Line Items]
Operating revenues	1,089	942	956
Total operating revenues	1,089	942	956
Operating Segments | Renewables | Capacity revenue
Disaggregation of Revenue [Line Items]
Operating revenues	65	23	2
Total operating revenues	65	23	2
Operating Segments | Renewables | Other revenues
Disaggregation of Revenue [Line Items]
Operating revenues	85	71	71
Total operating revenues	$ 85	$ 71	71
Operating Segments | Thermal
Disaggregation of Revenue [Line Items]
Operating revenues			77
Contract amortization			0
Mark-to-market for economic hedges			0
Total operating revenues			77
Less: Contract amortization			0
Less: Mark-to-market for economic hedges			0
Less: Lease revenue			(1)
Total revenue from contracts with customers			76
Operating Segments | Thermal | Energy revenue
Disaggregation of Revenue [Line Items]
Operating revenues			48
Total operating revenues			48
Operating Segments | Thermal | Capacity revenue
Disaggregation of Revenue [Line Items]
Operating revenues			18
Total operating revenues			18
Operating Segments | Thermal | Other revenues
Disaggregation of Revenue [Line Items]
Operating revenues			11
Total operating revenues			$ 11

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Contract Balances (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, net	$ 164	$ 171
Customer Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, net	75	66
Lease Agreements
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, net	$ 89	$ 105

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Asset Retirement Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning Balance	$ 239	$ 157
Revisions in estimated cash flows	(1)	3
Liabilities incurred	14	67
Liabilities settled	(2)
Accretion expense	16	12
Ending Balance	$ 266	$ 239

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Redeemable Noncontrolling Interests (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 1	$ 7
Cash distributions to redeemable noncontrolling interests	(2)	(3)
Comprehensive income attributable to redeemable noncontrolling interests	13	17
Repurchase of redeemable noncontrolling interest	(12)	(20)
Ending balance	$ 0	$ 1

Acquisitions - Acquisitions Nar

Acquisitions - Acquisitions Narrative (Details) $ in Millions	Nov. 18, 2024 USD ($) MW	Jun. 13, 2024 USD ($)	Apr. 16, 2024 USD ($) MW	Mar. 15, 2024 USD ($) MW	Dec. 28, 2023 USD ($) MW	Dec. 01, 2023 USD ($) MW	Oct. 31, 2023 USD ($) MW	Aug. 30, 2023 USD ($) MW	Feb. 17, 2023 USD ($) MW
Dan’s Mountain Drop Down
Business Acquisition [Line Items]
Payments for asset acquisition	$ 1
Net assets (liabilities) assumed	$ (2)
Dan’s Mountain Drop Down | Dan’s Mountain Parent Holdco LLC
Business Acquisition [Line Items]
Power purchase agreement period (in years)	12 years
Additional payments for asset acquisition	$ 31
Cedar Creek Drop Down
Business Acquisition [Line Items]
Net assets (liabilities) assumed			$ 17
Texas Solar Nova 2 Drop Down
Business Acquisition [Line Items]
Net assets (liabilities) assumed				$ 72
Texas Solar Nova 2 Drop Down | CEG
Business Acquisition [Line Items]
Payments to fund project reserve accounts				9
Texas Solar Nova 2 Drop Down | Clearway Renew LLC
Business Acquisition [Line Items]
Payments to acquire productive assets				17
Texas Solar Nova 2 Drop Down | TSN1 TE Holdco LLC | Cash Equity Investor
Business Acquisition [Line Items]
Payments to acquire productive assets				$ 95
Texas Solar Nova 1 Drop Down
Business Acquisition [Line Items]
Net assets (liabilities) assumed					$ (6)
Texas Solar Nova 1 Drop Down | CEG
Business Acquisition [Line Items]
Payments to fund project reserve accounts					$ 23
Rosamond Central Solar Project | Rosie Central BESS
Business Acquisition [Line Items]
Power generation capacity, megawatts (over) | MW						147
Power purchase agreement period (in years)						15 years
Payments for asset acquisition						$ 70
Current assets, receivables						279
Rosamond Central Solar Project | Rosie Central BESS | Cash Equity Investor
Business Acquisition [Line Items]
Payments for asset acquisition						54
Rosamond Central Solar Project | Rosie Central BESS | Tax Equity Investors
Business Acquisition [Line Items]
Current assets, receivables						215
Rosamond Central Solar Project | Rosie Central BESS | Clearway Renew LLC
Business Acquisition [Line Items]
Payments for asset acquisition						16
Current assets, receivables		$ 184				$ 64
Victory Pass and Arica Drop Down
Business Acquisition [Line Items]
Power generation capacity, megawatts (over) | MW							200
Power purchase agreement period (in years)							15 years
Power generation storage capacity, megawatts | MW							50
Weighted average contract duration (in years)							14 years
Victory Pass and Arica Drop Down | Clearway Renew LLC
Business Acquisition [Line Items]
Power generation capacity, megawatts (over) | MW							263
Power generation storage capacity, megawatts | MW							136
Additional payments for asset acquisition							$ 165
Victory Pass and Arica Drop Down | Clearway Renew LLC | Cash Equity Investor
Business Acquisition [Line Items]
Additional payments for asset acquisition							347
Daggett 2 Drop Down
Business Acquisition [Line Items]
Net assets (liabilities) assumed								$ (29)
Daggett 3 Drop Down
Business Acquisition [Line Items]
Net assets (liabilities) assumed									$ 15
VP-Arica TargetCo LLC | Victory Pass and Arica Drop Down | Clearway Renew LLC
Business Acquisition [Line Items]
Payments to acquire productive assets							165
Payments for asset acquisition							46
VP-Arica TargetCo LLC | Victory Pass and Arica Drop Down | Clearway Renew LLC | Cash Equity Investor
Business Acquisition [Line Items]
Payments for asset acquisition							$ 87
Alternative Energy | Dan’s Mountain Parent Holdco LLC | Dan’s Mountain Drop Down | Dan’s Mountain TargetCo LLC
Business Acquisition [Line Items]
Power generation capacity, megawatts (over) | MW	55
Payments for asset acquisition	$ 7
Alternative Energy | Cedar Creek Wind Holdco LLC | Cedar Creek Drop Down | Cedar Creek TE Holdco LLC
Business Acquisition [Line Items]
Power generation capacity, megawatts (over) | MW			160
Payments to acquire productive assets			$ 117
Asset acquisition, power purchase agreement, period			25 years
Alternative Energy | Lighthouse Renewable Holdco 2 LLC | Texas Solar Nova 2 Drop Down | TSN1 TE Holdco LLC
Business Acquisition [Line Items]
Power generation capacity, megawatts (over) | MW				200
Payments to acquire productive assets				$ 112
Asset acquisition, power purchase agreement, period				18 years
Alternative Energy | Lighthouse Renewable Holdco 2 LLC | Texas Solar Nova 1 Drop Down | Lighthouse Renewable Holdco 2 LLC
Business Acquisition [Line Items]
Power generation capacity, megawatts (over) | MW					252
Power purchase agreement period (in years)					18 years
Payments for asset acquisition					$ 23
Alternative Energy | Lighthouse Renewable Holdco 2 LLC | Texas Solar Nova 1 Drop Down | Lighthouse Renewable Holdco 2 LLC | Third Party Investor
Business Acquisition [Line Items]
Payments for asset acquisition					$ 109
Alternative Energy | Daggett TargetCo LLC | Daggett 2 Drop Down | Daggett TargetCo LLC
Business Acquisition [Line Items]
Power generation capacity, megawatts (over) | MW								182
Power purchase agreement period (in years)								15 years
Payments for asset acquisition								$ 13
Power generation storage capacity, megawatts | MW								131
Alternative Energy | Daggett TargetCo LLC | Daggett 3 Drop Down | Daggett TargetCo LLC
Business Acquisition [Line Items]
Power purchase agreement period (in years)									15 years
Payments for asset acquisition									$ 21
Alternative Energy | Daggett TargetCo LLC | Daggett 3 Drop Down | Daggett TargetCo LLC | Cash Equity Investor
Business Acquisition [Line Items]
Payments for asset acquisition									$ 129
Alternative Energy | Lighthouse Renewable Holdco LLC | Daggett 3 Drop Down | Lighthouse Renewable Holdco LLC
Business Acquisition [Line Items]
Power generation capacity, megawatts (over) | MW									300
Power generation storage capacity, megawatts | MW									149

Acquisitions - Summary of Asset

Acquisitions - Summary of Assets and Liabilities Transferred (Details) - USD ($) $ in Millions

12 Months Ended

Nov. 18, 2024

May 01, 2024

Apr. 16, 2024

Mar. 15, 2024

Dec. 28, 2023

Dec. 22, 2023

Dec. 01, 2023

Oct. 31, 2023

Aug. 30, 2023

Jun. 30, 2023

Feb. 17, 2023

Dec. 31, 2024

Dec. 31, 2023

Business Acquisition [Line Items]

Removed related noncontrolling interest balance

$ 7

$ 10

Dan’s Mountain Drop Down

Business Acquisition [Line Items]

Property, Plant and Equipment, Additions, Net

$ 152

Right-of-use assets, net

3

Asset Acquisition, Assets Acquired

155

Long-term debt

125

Long-term lease liabilities

3

Other current and non-current liabilities

29

Asset Acquisition, Liabilities Assumed

157

Net assets (liabilities) assumed

(2)

Unamortized debt issuance costs

1

Dan’s Mountain Drop Down | Cash Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

77

Construction in progress

150

Dan’s Mountain Drop Down | Tax Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

$ 49

$ 49

Rosamond Central BESS

Business Acquisition [Line Items]

Property, Plant and Equipment, Additions, Net

$ 275

Asset Acquisition, Assets Acquired

275

Other current and non-current liabilities

9

Asset Acquisition, Liabilities Assumed

9

Net assets (liabilities) assumed

266

Victory Pass and Arica

Business Acquisition [Line Items]

Cash

$ 1

Property, Plant and Equipment, Additions, Net

937

Right-of-use assets, net

4

Derivative assets

1

Other non-current assets

6

Asset Acquisition, Assets Acquired

949

Long-term debt

864

Long-term lease liabilities

4

Other current and non-current liabilities

82

Asset Acquisition, Liabilities Assumed

950

Net assets (liabilities) assumed

(1)

Unamortized debt issuance costs

4

Payments for other fees

$ 18

Cedar Creek Drop Down

Business Acquisition [Line Items]

Restricted cash

1

Property, Plant and Equipment, Additions, Net

311

Right-of-use assets, net

6

Derivative assets

14

Other non-current assets

14

Asset Acquisition, Assets Acquired

346

Long-term debt

309

Long-term lease liabilities

7

Other current and non-current liabilities

13

Asset Acquisition, Liabilities Assumed

329

Net assets (liabilities) assumed

17

Unamortized debt issuance costs

3

Payments for other fees

6

Cedar Creek Drop Down | Cash Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

91

Cedar Creek Drop Down | Tax Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

109

Cedar Creek Drop Down | Construction Loans

Business Acquisition [Line Items]

Long-term debt

$ 112

Texas Solar Nova 2 Drop Down

Business Acquisition [Line Items]

Restricted cash

$ 1

Property, Plant and Equipment, Additions, Net

280

Right-of-use assets, net

21

Derivative assets

6

Other non-current assets

4

Asset Acquisition, Assets Acquired

312

Long-term debt

194

Long-term lease liabilities

19

Other current and non-current liabilities

27

Asset Acquisition, Liabilities Assumed

240

Net assets (liabilities) assumed

72

Unamortized debt issuance costs

1

Texas Solar Nova 2 Drop Down | Tax Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

115

Texas Solar Nova 2 Drop Down | Term Loan

Business Acquisition [Line Items]

Long-term debt

$ 80

Texas Solar Nova 1 Drop Down

Business Acquisition [Line Items]

Cash

$ 3

Property, Plant and Equipment, Additions, Net

362

Right-of-use assets, net

21

Derivative assets

4

Other non-current assets

6

Asset Acquisition, Assets Acquired

396

Long-term debt

349

Long-term lease liabilities

19

Other current and non-current liabilities

34

Asset Acquisition, Liabilities Assumed

402

Net assets (liabilities) assumed

(6)

Unamortized debt issuance costs

1

Texas Solar Nova 1 Drop Down | Tax Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

151

Texas Solar Nova 1 Drop Down | Construction Loans

Business Acquisition [Line Items]

Long-term debt

90

Texas Solar Nova 1 Drop Down | Sponsor Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

$ 109

Rosamond Central Solar Project

Business Acquisition [Line Items]

Construction in progress

272

Rosamond Central Solar Project | Tax Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

$ 188

Rosamond Central Solar Project | Construction Loans

Business Acquisition [Line Items]

Long-term debt

$ 115

Victory Pass and Arica Drop Down

Business Acquisition [Line Items]

Unamortized debt issuance costs

4

Construction in progress

893

Victory Pass and Arica Drop Down | Tax Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

385

Victory Pass and Arica Drop Down | Sponsor Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

$ 483

Daggett 2 Drop Down

Business Acquisition [Line Items]

Cash

$ 1

Restricted cash

119

Property, Plant and Equipment, Additions, Net

379

Right-of-use assets, net

22

Derivative assets

22

Asset Acquisition, Assets Acquired

543

Long-term debt

308

Long-term lease liabilities

23

Other current and non-current liabilities

28

Asset Acquisition, Liabilities Assumed

359

Noncontrolling interests

213

Net assets (liabilities) assumed

(29)

Unamortized debt issuance costs

3

Payments for other fees

$ 1

Daggett 2 Drop Down | Tax Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

204

204

Daggett 2 Drop Down | Construction Loans

Business Acquisition [Line Items]

Long-term debt

$ 36

$ 107

Daggett 3 Drop Down

Business Acquisition [Line Items]

Restricted cash

$ 4

Property, Plant and Equipment, Additions, Net

534

Right-of-use assets, net

31

Derivative assets

27

Asset Acquisition, Assets Acquired

596

Long-term debt

480

Long-term lease liabilities

33

Other current and non-current liabilities

68

Asset Acquisition, Liabilities Assumed

581

Net assets (liabilities) assumed

15

Unamortized debt issuance costs

5

Payments for other fees

7

Daggett 3 Drop Down | CEG

Business Acquisition [Line Items]

Long-term lease liabilities

32

Removed related noncontrolling interest balance

22

Payments for other fees

54

Daggett 3 Drop Down | Tax Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

229

229

Daggett 3 Drop Down | Construction Loans

Business Acquisition [Line Items]

Long-term debt

$ 40

181

Daggett 3 Drop Down | Sponsor Equity Bridge Loan

Business Acquisition [Line Items]

Long-term debt

$ 75

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 14,030	$ 13,011
Accumulated depreciation	(4,086)	(3,485)
Net property, plant and equipment	9,944	9,526
Depreciation expense	610	514	$ 502
Facilities and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 13,302	11,426
Facilities and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Facilities and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	40 years
Land and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 537	365
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	191	1,220
Construction in Progress | Accrued Liabilities
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	9	72
Construction in Progress | Flexible Generation
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 23	$ 21

Investments Accounted for by _3

Investments Accounted for by the Equity Method and Variable Interest Entities - Maximum Exposure to Loss Limited to Equity method investments (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Investment Balance	$ 309	$ 360
Avenal
Schedule of Equity Method Investments [Line Items]
Economic Interest	50%
Investment Balance	$ 9
Desert Sunlight
Schedule of Equity Method Investments [Line Items]
Economic Interest	25%
Investment Balance	$ 217
Elkhorn Ridge
Schedule of Equity Method Investments [Line Items]
Economic Interest	66.70%
Investment Balance	$ 7
Gen Conn
Schedule of Equity Method Investments [Line Items]
Economic Interest	50%
Investment Balance	$ 75
San Juan Mesa
Schedule of Equity Method Investments [Line Items]
Economic Interest	75%
Investment Balance	$ 1

Investments Accounted for by _4

Investments Accounted for by the Equity Method and Variable Interest Entities - Narrative (Details) - USD ($) $ in Millions			12 Months Ended
	Dec. 17, 2024	Jun. 30, 2015	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 27, 2024	Nov. 18, 2024
Schedule of Equity Method Investments [Line Items]
Retained earnings, undistributed earnings from equity method investees			$ 20	$ 17
Payments to acquire equity method investments			0	28	$ 0
Long-term debt			7,235
Investment Balance (a)			309	$ 360
Desert Sunlight
Schedule of Equity Method Investments [Line Items]
Carrying value basis difference			$ 115
Economic Interest			25%
Investment Balance (a)			$ 217
Chestnut Fund Class B LLC
Schedule of Equity Method Investments [Line Items]
Economic Interest			100%
Investment Balance (a)			$ 5
Noncontrolling interest adjustment to additional paid in capital			12
Cedro Hill TE Holdco LLC
Schedule of Equity Method Investments [Line Items]
Investment Balance (a)						$ 152
Spring Canyon TE Holdco LLC,
Schedule of Equity Method Investments [Line Items]
Economic Interest	100%
Investment Balance (a)	$ 7
Noncontrolling interest adjustment to additional paid in capital	$ 3
Dan’s Mountain Parent Holdco LLC
Schedule of Equity Method Investments [Line Items]
Economic Interest							50%
Rosie Central BESS
Schedule of Equity Method Investments [Line Items]
Investment Balance (a)			28
Desert Sunlight
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments		$ 285
Business acquisition, consideration transferred, working capital		$ 181
Long-term debt			$ 282

Investments Accounted for by _5

Investments Accounted for by the Equity Method and Variable Interest Entities - Summarized Financial Information of Equity Method Investments (Details) - USD ($) $ in Millions		12 Months Ended
	May 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Operating revenues		$ 1,371	$ 1,314	$ 1,190
Operating income		196	263	1,470
Net income	$ 8	(63)	(14)	1,060
Current assets		1,067	1,560
Current liabilities		718	906
Non-current liabilities		8,047	8,800
Desert Sunlight
Schedule of Equity Method Investments [Line Items]
Operating revenues		206	202	203
Operating income		146	144	137
Net income		113	108	114
Current assets		81	80
Non-current assets		1,086	1,131
Current liabilities		63	61
Non-current liabilities		726	776
Other
Schedule of Equity Method Investments [Line Items]
Operating revenues		95	94	102
Operating income		25	23	34
Net income		16	13	$ 22
Current assets		63	58
Non-current assets		391	429
Current liabilities		27	28
Non-current liabilities		$ 225	$ 243

Investments Accounted for by _6

Investments Accounted for by the Equity Method and Variable Interest Entities - VIEs that are Consolidated (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	$ 3,318	$ 3,615
Property, plant and equipment	9,944	9,526
Intangible assets	2,193	2,374
Total Assets	14,329	14,701
Total Liabilities	8,765	$ 9,706
Buckthorn Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	3
Property, plant and equipment	178
Intangible assets	0
Total Assets	181
Total Liabilities	13
Noncontrolling interest	5
Net assets less noncontrolling interest	163
Cedar Creek TE Holdco LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	40
Property, plant and equipment	313
Intangible assets	0
Total Assets	353
Total Liabilities	118
Noncontrolling interest	113
Net assets less noncontrolling interest	122
Cedro Hill TE Holdco LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	62
Property, plant and equipment	213
Intangible assets	0
Total Assets	275
Total Liabilities	31
Noncontrolling interest	145
Net assets less noncontrolling interest	99
Daggett Renewable Holdco LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	152
Property, plant and equipment	946
Intangible assets	0
Total Assets	1,098
Total Liabilities	447
Noncontrolling interest	796
Net assets less noncontrolling interest	(145)
DGPV Funds
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	26
Property, plant and equipment	217
Intangible assets	0
Total Assets	243
Total Liabilities	26
Noncontrolling interest	3
Net assets less noncontrolling interest	214
Lighthouse Renewable Holdco LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	67
Property, plant and equipment	393
Intangible assets	0
Total Assets	460
Total Liabilities	136
Noncontrolling interest	240
Net assets less noncontrolling interest	84
Lighthouse Renewable Holdco 2 LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	143
Property, plant and equipment	1,296
Intangible assets	2
Total Assets	1,441
Total Liabilities	569
Noncontrolling interest	668
Net assets less noncontrolling interest	204
Oahu Solar LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	37
Property, plant and equipment	149
Intangible assets	0
Total Assets	186
Total Liabilities	22
Noncontrolling interest	20
Net assets less noncontrolling interest	144
Rattlesnake TE Holdco LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	13
Property, plant and equipment	165
Intangible assets	0
Total Assets	178
Total Liabilities	17
Noncontrolling interest	74
Net assets less noncontrolling interest	87
Rosie TargetCo LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	62
Property, plant and equipment	527
Intangible assets	0
Total Assets	589
Total Liabilities	218
Noncontrolling interest	256
Net assets less noncontrolling interest	115
VP-Arica TargetCo LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	66
Property, plant and equipment	988
Intangible assets	2
Total Assets	1,056
Total Liabilities	40
Noncontrolling interest	308
Net assets less noncontrolling interest	708
Wildorado TE Holdco LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	26
Property, plant and equipment	178
Intangible assets	0
Total Assets	204
Total Liabilities	18
Noncontrolling interest	81
Net assets less noncontrolling interest	105
Other
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	62
Property, plant and equipment	488
Intangible assets	13
Total Assets	563
Total Liabilities	315
Noncontrolling interest	150
Net assets less noncontrolling interest	$ 98

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Balance Sheet Grouping (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	$ 7,237	$ 8,102
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	6,715	7,611
Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	1,922	1,939
Fair Value | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	$ 4,793	$ 5,672

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Recurring Fair Value Measurements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 175	$ 123
Derivative liabilities	371	332
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Change in unrealized losses included in earnings for derivatives and other financial instruments held as of December 31,	$ (4)	$ (6)	$ 28
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Derivative instruments	Derivative instruments
Call Option | El Segundo, Marsh Landing and Walnut Creek Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of long term debt	$ 366	$ 325
Fair value of short term debt		5
Fair Value, Recurring
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	(317)	(336)
Settlements	(2)	28
Total losses for the period included in earnings	(33)	(9)
Ending balance	(352)	(317)	(336)
Change in unrealized losses included in earnings for derivatives and other financial instruments held as of December 31,	(33)	(9)
Level 2 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	166	123
Derivative liabilities	0	2
Level 3 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	19	13
Derivative liabilities	371	330
Energy-related commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	9	2
Derivative liabilities	371	330
Energy-related commodity contracts | Level 2 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	2
Derivative liabilities	0	0
Energy-related commodity contracts | Level 3 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	9	0
Derivative liabilities	371	330
Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	166	121
Derivative liabilities		2
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Change in unrealized losses included in earnings for derivatives and other financial instruments held as of December 31,	29	(17)	$ 100
Interest rate contracts | Level 2 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	166	121
Derivative liabilities	0	2
Interest rate contracts | Level 3 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Other Financial Instruments | Level 2 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Other Financial Instruments | Level 3 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 10	$ 13

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Narrative (Details) $ in Millions	Dec. 31, 2024 USD ($)
Fair Value Disclosures [Abstract]
Percent of derivative liabilities using level 3 fair value inputs	100%
Percent of financial instruments using level 3 fair value inputs	100%
Fair value assets, measured on recurring basis, valuation techniques, impact of credit reserve to fair value	$ 16

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Significant Unobservable Inputs (Details) - Fair Value, Recurring - Level 3 $ in Millions	Dec. 31, 2024 USD ($) $ / MWh $ / BTU MWh	Dec. 31, 2023 USD ($) MWh $ / MWh $ / BTU
Low | Measurement Input, Commodity Forward Price | Valuation Technique, Option Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input (in dollars per megawatt-hour or British thermal unit) | $ / BTU	0.85	1.25
High | Measurement Input, Commodity Forward Price | Valuation Technique, Option Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input (in dollars per megawatt-hour or British thermal unit) | $ / BTU	10.55	13.69
Weighted Average | Measurement Input, Commodity Forward Price | Valuation Technique, Option Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input (in dollars per megawatt-hour or British thermal unit) | $ / BTU	3.25	4.93
Long-term Power Commodity Contracts | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset | $	$ 0	$ 0
Derivative liability | $	$ 366	$ 325
Long-term Power 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 (in dollars per megawatt-hour or British thermal unit) | $ / MWh	21.60	18.18
Long-term Power 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 (in dollars per megawatt-hour or British thermal unit) | $ / MWh	80.82	81.62
Long-term Power 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 (in dollars per megawatt-hour or British thermal unit) | $ / MWh	45.44	39.91
Commodity Contracts | Measurement Input, Commodity Forward Price | Valuation Technique, Option Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset | $	$ 9	$ 0
Derivative liability | $	$ 5	$ 5
Commodity Contracts | Low | Measurement Input, Commodity Forward Price | Valuation Technique, Option Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input (in dollars per megawatt-hour or British thermal unit) | $ / MWh	(19.30)	(43.96)
Commodity Contracts | High | Measurement Input, Commodity Forward Price | Valuation Technique, Option Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input (in dollars per megawatt-hour or British thermal unit) | $ / MWh	1,011.79	343.61
Commodity Contracts | Weighted Average | Measurement Input, Commodity Forward Price | Valuation Technique, Option Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset/liability measurement input (in dollars per megawatt-hour or British thermal unit) | $ / MWh	45.87	64.34
Other Financial Instruments | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset | $	$ 10	$ 13
Derivative liability | $	$ 0	$ 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 (in dollars per megawatt-hour or British thermal unit) | MWh	59,425	60,801
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 (in dollars per megawatt-hour or British thermal unit) | MWh	118,850	121,602
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 (in dollars per megawatt-hour or British thermal unit) | MWh	111,091	115,622

Accounting for Derivative Ins_3

Accounting for Derivative Instruments and Hedging Activities - Volume Buy/Sell of Company's Open Derivative Transactions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) BTU MWh	Dec. 31, 2023 USD ($) MWh BTU
Long | Interest
Derivative [Line Items]
Notional amount | $	$ 1,769	$ 2,467
Commodity Contracts | Short | Power
Derivative [Line Items]
Notional amount, energy measure | MWh	25	23
Commodity Contracts | Short | Natural Gas
Derivative [Line Items]
Notional amount, energy measure | BTU	11	17

Accounting for Derivative Ins_4

Accounting for Derivative Instruments and Hedging Activities - FV of Derivatives (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative assets	$ 175	$ 123
Derivative liabilities	371	332
Derivatives Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets	27	19
Derivative liabilities	0	2
Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets	148	104
Derivative liabilities	371	330
Interest rate contracts current | Derivatives Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets	5	7
Derivative liabilities	0	0
Interest rate contracts current | Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets	30	33
Derivative liabilities	0	0
Interest rate contracts long-term | Derivatives Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets	22	12
Derivative liabilities	0	2
Interest rate contracts long-term | Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets	109	69
Derivative liabilities	0	0
Energy-related commodity contracts current | Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets	4	1
Derivative liabilities	56	51
Energy-related commodity contracts long-term | Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets	5	1
Derivative liabilities	$ 315	$ 279

Accounting for Derivative Ins_5

Accounting for Derivative Instruments and Hedging Activities - Offsetting Derivatives by Counterparty Master Agreement Level (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative assets, gross	$ 175	$ 123
Derivative liabilities, gross	(371)	(332)
Fair value of gross derivative assets/(liabilities), net	(196)	(209)
Derivative instruments	0	0
Net amount	(196)	(209)
Energy-related commodity contracts
Derivative [Line Items]
Derivative assets, gross	9	2
Derivative instruments, assets	0	0
Net amount	9	2
Derivative liabilities, gross	(371)	(330)
Derivative instruments, liabilities	0	0
Derivative Liabilities, Net Amount	(371)	(330)
Fair value of gross derivative assets/(liabilities), net	(362)	(328)
Derivative instruments	0	0
Net amount	(362)	(328)
Interest rate contracts
Derivative [Line Items]
Derivative assets, gross	166	121
Derivative instruments, assets	0	(2)
Net amount	166	119
Derivative liabilities, gross		(2)
Derivative instruments, liabilities		2
Derivative Liabilities, Net Amount		0
Fair value of gross derivative assets/(liabilities), net	166	119
Derivative instruments	0	0
Net amount	$ 166	$ 119

Accounting for Derivative Ins_6

Accounting for Derivative Instruments and Hedging Activities - AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Beginning balance	$ 4,994	$ 4,026	$ 3,300
Mark-to-market of cash flow hedge accounting contracts	(4)	(6)	28
Ending balance	5,564	4,994	4,026
Accumulated other comprehensive income	3	7
Income expected to be realized from OCI during the next 12 months, net of income tax expense of $1	1
Accumulated OCL ending balance, income tax benefit	1	2	3
Losses expected to be realized from OCL during the next 12 months, income tax benefit	1
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Beginning balance	18	24	(11)
Ending balance	14	18	24
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Reclassified from accumulated OCI (OCL) to income due to realization of previously deferred amounts	(1)	(4)	4
Mark-to-market of cash flow hedge accounting contracts	(3)	(2)	24
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest | Capistrano Wind Portfolio
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Capistrano Wind Portfolio Acquisition	0	0	7
Non-controlling Interest
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Beginning balance	2,893	1,792	1,466
Ending balance	3,501	2,893	1,792
Accumulated other comprehensive income	11	11	15
Non-controlling Interest | Capistrano Wind Portfolio
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Capistrano Wind Portfolio Acquisition	3
Accumulated Other Comprehensive (Loss) Income
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Beginning balance	7	9	(6)
Ending balance	3	7	9
Accumulated other comprehensive income	3	$ 7	$ 9
Clearway Energy, Inc. | Capistrano Wind Portfolio
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Capistrano Wind Portfolio Acquisition	$ 4

Accounting for Derivative Ins_7

Accounting for Derivative Instruments and Hedging Activities - Impact of Statement of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on derivatives, net of tax	$ (4)	$ (6)	$ 28
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on derivatives, net of tax	29	(17)	100
Energy-Related Commodity Contracts - Operating Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on derivatives, net of tax	(32)	23	(174)
Energy-Related Commodity Contracts - Cost of Operation
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on derivatives, net of tax	$ (2)	$ 2	$ 0

Intangible Assets - Components

Intangible Assets - Components Subject to Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	$ 3,387	$ 3,383	$ 3,442
Net carrying amount ending balance	3,387	3,383	3,442
Less accumulated amortization	(1,194)	(1,009)
Ending balance	2,193	2,374
Walnut Creek
Finite-lived Intangible Assets [Roll Forward]
Expiration		(50)
Other Acquisitions
Finite-lived Intangible Assets [Roll Forward]
Other	4	(9)
PPAs
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	3,265	3,265	3,321
Net carrying amount ending balance	3,265	3,265	3,321
Less accumulated amortization	(1,140)	(962)
Ending balance	2,125	2,303
PPAs | Walnut Creek
Finite-lived Intangible Assets [Roll Forward]
Expiration		(50)
PPAs | Other Acquisitions
Finite-lived Intangible Assets [Roll Forward]
Other	0	(6)
Leasehold Rights
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	86	86	86
Net carrying amount ending balance	86	86	86
Less accumulated amortization	(42)	(38)
Ending balance	44	48
Leasehold Rights | Walnut Creek
Finite-lived Intangible Assets [Roll Forward]
Expiration		0
Leasehold Rights | Other Acquisitions
Finite-lived Intangible Assets [Roll Forward]
Other	0	0
Emission Allowances
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	17	17	17
Net carrying amount ending balance	17	17	17
Less accumulated amortization	(5)	(4)
Ending balance	12	13
Emission Allowances | Walnut Creek
Finite-lived Intangible Assets [Roll Forward]
Expiration		0
Emission Allowances | Other Acquisitions
Finite-lived Intangible Assets [Roll Forward]
Other	0	0
Other
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	19	15	18
Net carrying amount ending balance	19	15	$ 18
Less accumulated amortization	(7)	(5)
Ending balance	12	10
Other | Walnut Creek
Finite-lived Intangible Assets [Roll Forward]
Expiration		0
Other | Other Acquisitions
Finite-lived Intangible Assets [Roll Forward]
Other	$ 4	$ (3)

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 184	$ 186	$ 174
Contract amortization expense	$ 178	$ 181	$ 168

Intangible Assets - Schedule Fu

Intangible Assets - Schedule Future Amortization Expense for Intangibles (Details) $ in Millions	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 185
2026	185
2027	185
2028	185
2029	$ 185

Asset Impairments (Details)

Asset Impairments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment losses	$ 0	$ 12	$ 16

Long-term Debt - Short and Long

Long-term Debt - Short and Long-term Borrowings (Details) - USD ($) $ in Millions		12 Months Ended
	Mar. 15, 2023	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt		$ 7,235	$ 8,099
Less current maturities		(430)	(558)
Less net debt issuance costs		(57)	(65)
Add premiums		2	3
Total long-term debt		6,750	7,479
2028 Senior Notes
Debt Instrument [Line Items]
Long-term debt		$ 850	850
Interest rate %		4.75%
2031 Senior Notes
Debt Instrument [Line Items]
Long-term debt		$ 925	925
Interest rate %		3.75%
2032 Senior Notes
Debt Instrument [Line Items]
Long-term debt		$ 350	350
Interest rate %		3.75%
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt		$ 0	0
Basis spread on variable rate	0.10%	1.50%
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 103
Agua Caliente Solar LLC, due 2037
Debt Instrument [Line Items]
Long-term debt		$ 574	612
Agua Caliente Solar LLC, due 2037 | Minimum
Debt Instrument [Line Items]
Interest rate %		2.395%
Agua Caliente Solar LLC, due 2037 | Maximum
Debt Instrument [Line Items]
Interest rate %		3.633%
Agua Caliente Solar LLC, due 2037 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 14
Alta Wind Asset Management LLC, due 2031
Debt Instrument [Line Items]
Long-term debt		$ 10	11
Basis spread on variable rate		2.775%
Alta Wind Asset Management LLC, due 2031 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 0
Alta Wind I-V lease financing arrangements, due 2034 and 2035
Debt Instrument [Line Items]
Long-term debt		$ 609	660
Alta Wind I-V lease financing arrangements, due 2034 and 2035 | Minimum
Debt Instrument [Line Items]
Interest rate %		5.696%
Alta Wind I-V lease financing arrangements, due 2034 and 2035 | Maximum
Debt Instrument [Line Items]
Interest rate %		7.015%
Alta Wind I-V lease financing arrangements, due 2034 and 2035 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 67
Alta Wind Realty Investments LLC, due 2031
Debt Instrument [Line Items]
Long-term debt		$ 18	20
Interest rate %		7%
Alta Wind Realty Investments LLC, due 2031 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 0
Borrego, due 2038
Debt Instrument [Line Items]
Long-term debt		$ 45	48
Interest rate %		565%
Borrego, due 2038 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 4
Broken Bow, due 2031 (d)
Debt Instrument [Line Items]
Long-term debt		0	41
Broken Bow, due 2031 (d) | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		0
Buckthorn Solar, due 2025
Debt Instrument [Line Items]
Long-term debt		$ 112	116
Basis spread on variable rate		2.10%
Buckthorn Solar, due 2025 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 20
Capistrano Portfolio Holdco LLC, Due 2033
Debt Instrument [Line Items]
Long-term debt		$ 118	0
Basis spread on variable rate		1.625%
Capistrano Portfolio Holdco LLC, Due 2033 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 42
Carlsbad Energy Holdings LLC, due 2027
Debt Instrument [Line Items]
Long-term debt		$ 70	93
Basis spread on variable rate		1.90%
Carlsbad Energy Holdings LLC, due 2027 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 63
Carlsbad Energy Holdings LLC, due 2038
Debt Instrument [Line Items]
Long-term debt		$ 407	407
Interest rate %		4.12%
Carlsbad Energy Holdings LLC, due 2038 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 0
Carlsbad Holdco, LLC, due 2038
Debt Instrument [Line Items]
Long-term debt		$ 193	195
Interest rate %		4.21%
Carlsbad Holdco, LLC, due 2038 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 5
Cedar Creek, due 2029
Debt Instrument [Line Items]
Long-term debt		$ 108	0
Interest rate %		1.625%
Cedar Creek, due 2029 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 19
Cedro Hill, due 2029
Debt Instrument [Line Items]
Long-term debt		$ 99	165
Cedro Hill, due 2029 | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
Cedro Hill, due 2029 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 3
Crofton Bluffs, due 2031 (d)
Debt Instrument [Line Items]
Long-term debt		0	27
Crofton Bluffs, due 2031 (d) | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		0
CVSR, due 2037
Debt Instrument [Line Items]
Long-term debt		$ 573	601
CVSR, due 2037 | Minimum
Debt Instrument [Line Items]
Interest rate %		2.339%
CVSR, due 2037 | Maximum
Debt Instrument [Line Items]
Interest rate %		3.775%
CVSR, due 2037 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 0
CVSR Holdco Notes, due 2037
Debt Instrument [Line Items]
Long-term debt		$ 143	152
Interest rate %		4.68%
CVSR Holdco Notes, due 2037 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 12
Daggett 2, due 2028
Debt Instrument [Line Items]
Long-term debt		$ 155	156
Basis spread on variable rate		1.762%
Daggett 2, due 2028 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 32
Daggett 3, due 2028
Debt Instrument [Line Items]
Long-term debt		$ 217	217
Basis spread on variable rate		1.762%
Daggett 3, due 2028 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 44
Dan’s Mountain, due 2025
Debt Instrument [Line Items]
Long-term debt		$ 143	0
Basis spread on variable rate		1.25%
Dan’s Mountain, due 2025 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 5
DG-CS Master Borrower LLC, due 2040
Debt Instrument [Line Items]
Long-term debt		$ 356	385
Interest rate %		3.51%
DG-CS Master Borrower LLC, due 2040 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 30
Mililani Class B Member Holdco LLC, due 2028
Debt Instrument [Line Items]
Long-term debt		$ 90	92
Basis spread on variable rate		1.60%
Mililani Class B Member Holdco LLC, due 2028 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 18
Natural Gas Holdco LC Facility, due 2027
Debt Instrument [Line Items]
Long-term debt		$ 0	0
Basis spread on variable rate		1.75%
Natural Gas Holdco LC Facility, due 2027 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 105
NIMH Solar, due 2031 and 2033
Debt Instrument [Line Items]
Long-term debt		$ 126	148
NIMH Solar, due 2031 and 2033 | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		2%
NIMH Solar, due 2031 and 2033 | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		2.125%
NIMH Solar, due 2031 and 2033 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 11
Oahu Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Long-term debt		$ 78	81
Basis spread on variable rate		1.775%
Oahu Solar Holdings LLC, due 2026 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 10
Rosie Class B LLC, due 2029
Debt Instrument [Line Items]
Long-term debt		$ 191	347
Rosie Class B LLC, due 2029 | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
Rosie Class B LLC, due 2029 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 28
Texas Solar Nova 1, due 2028
Debt Instrument [Line Items]
Long-term debt		0	102
Texas Solar Nova 1, due 2028 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		0
TSN1 Class B Member LLC, Due 2029
Debt Instrument [Line Items]
Long-term debt		$ 176	0
TSN1 Class B Member LLC, Due 2029 | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
TSN1 Class B Member LLC, Due 2029 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 52
Utah Solar Holdings, due 2036
Debt Instrument [Line Items]
Long-term debt		$ 228	242
Interest rate %		3.59%
Utah Solar Holdings, due 2036 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 154
Viento Funding II, LLC, due 2029
Debt Instrument [Line Items]
Long-term debt		$ 160	175
Basis spread on variable rate		1.475%
Viento Funding II, LLC, due 2029 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		$ 29
Victory Pass and Arica, due 2024
Debt Instrument [Line Items]
Long-term debt		0	757
Victory Pass and Arica, due 2024 | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		0
Other
Debt Instrument [Line Items]
Long-term debt		111	124
Other | Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding at December 31, 2024		49
Subtotal non-recourse facility-level debt
Debt Instrument [Line Items]
Long-term debt		$ 5,110	$ 5,974

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details)

12 Months Ended

Dec. 27, 2024 USD ($)

Nov. 18, 2024 USD ($)

Jul. 25, 2024 USD ($) option

Jun. 13, 2024 USD ($)

Jun. 11, 2024 USD ($)

May 01, 2024 USD ($)

Apr. 16, 2024 USD ($)

Mar. 15, 2024 USD ($)

Dec. 28, 2023 USD ($)

Dec. 22, 2023 USD ($)

Dec. 18, 2023 USD ($)

Dec. 12, 2023 USD ($)

Dec. 01, 2023 USD ($)

Oct. 31, 2023 USD ($)

Aug. 31, 2023 USD ($)

Aug. 30, 2023 USD ($)

Jun. 30, 2023 USD ($)

Mar. 15, 2023 USD ($)

Feb. 17, 2023 USD ($)

Dec. 31, 2024 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Oct. 23, 2024 USD ($)

Jun. 30, 2024 USD ($)

Debt Instrument [Line Items]

Proceeds from the revolving credit facility

$ 0

$ 0

$ 80,000,000

Net debt issuance costs

57,000,000

65,000,000

Capital expenditures

188,000,000

157,000,000

Property, plant and equipment

9,944,000,000

9,526,000,000

Contributions from noncontrolling interests, net of distributions

1,493,000,000

1,028,000,000

$ 60,000,000

Long-term debt

7,235,000,000

8,099,000,000

Cedro Hill Repowering

Debt Instrument [Line Items]

Long-term debt

$ 254,000,000

Proceeds from the revolving credit facility

165,000,000

Aggregate principal amount repurchased

72,000,000

Remaining balance to distribute

55,000,000

Proceeds from debt

27,000,000

Payments for other fees

$ 4,000,000

4,000,000

Net debt issuance costs

4,000,000

Capital expenditures

$ 3,000,000

Property, plant and equipment

82,000,000

Expected contributions upon substantial completion

152,000,000

Cedro Hill Repowering | Clearway Renew LLC

Debt Instrument [Line Items]

Remaining balance to distribute

26,000,000

Dan’s Mountain Drop Down

Debt Instrument [Line Items]

Long-term debt

$ 125,000,000

Unamortized debt issuance costs

1,000,000

Rosamond Central Solar Project

Debt Instrument [Line Items]

Long-term debt

$ 77,000,000

Rosamond Central Solar Project | Rosie Central BESS

Debt Instrument [Line Items]

Repayment of partial loan amount

$ 70,000,000

Current assets, receivables

279,000,000

Rosamond Central Solar Project | Tax Equity Investors | Rosie Central BESS

Debt Instrument [Line Items]

Current assets, receivables

215,000,000

Rosie Class B LLC, due 2029

Debt Instrument [Line Items]

Long-term debt

$ 21,000,000

Payments for other fees

11,000,000

Rosie Class B LLC, due 2029 | CEG

Debt Instrument [Line Items]

Expected contributions upon substantial completion

56,000,000

Contributions from noncontrolling interests, net of distributions

39,000,000

Rosie Class B LLC, due 2029 | Cash Equity Investor

Debt Instrument [Line Items]

Remaining balance to distribute

44,000,000

NIMH Solar, due 2024

Debt Instrument [Line Items]

Aggregate principal amount repurchased

$ 146,000,000

Victory Pass and Arica, due 2024

Debt Instrument [Line Items]

Long-term debt

$ 75,000,000

Victory Pass and Arica, due 2024 | CEG

Debt Instrument [Line Items]

Expected contributions upon substantial completion

52,000,000

Contributions from noncontrolling interests, net of distributions

103,000,000

Victory Pass and Arica, due 2024 | Cash Equity Investor

Debt Instrument [Line Items]

Expected contributions upon substantial completion

347,000,000

Victory Pass and Arica, due 2024 | Sponsor Equity Bridge Loan

Debt Instrument [Line Items]

Long-term debt

$ 483,000,000

Victory Pass and Arica, due 2024 | Tax Equity Bridge Loan

Debt Instrument [Line Items]

Long-term debt

385,000,000

Victory Pass and Arica, due 2024 | Tax Equity Investors

Debt Instrument [Line Items]

Expected contributions upon substantial completion

410,000,000

Long-term debt, additions

62,000,000

22,000,000

Victory Pass and Arica

Debt Instrument [Line Items]

Long-term debt

864,000,000

Payments for other fees

18,000,000

Unamortized debt issuance costs

4,000,000

Cedar Creek Drop Down

Debt Instrument [Line Items]

Long-term debt

$ 309,000,000

Payments for other fees

6,000,000

Unamortized debt issuance costs

3,000,000

Construction completion reserves

16,000,000

Texas Solar Nova 1 Drop Down

Debt Instrument [Line Items]

Long-term debt

$ 349,000,000

Unamortized debt issuance costs

1,000,000

Texas Solar Nova 1

Debt Instrument [Line Items]

Long-term debt

18,000,000

Payments for other fees

5,000,000

Long-term debt, additions

12,000,000

Texas Solar Nova 1 | CEG

Debt Instrument [Line Items]

Remaining balance to distribute

9,000,000

Texas Solar Nova 2

Debt Instrument [Line Items]

Long-term debt

$ 19,000,000

Payments for other fees

4,000,000

Unamortized debt issuance costs

1,000,000

Texas Solar Nova 2 | CEG

Debt Instrument [Line Items]

Contributions from noncontrolling interests, net of distributions

9,000,000

Daggett 2 Drop Down

Debt Instrument [Line Items]

Long-term debt

$ 308,000,000

Payments for other fees

$ 1,000,000

Expected contributions upon substantial completion

202,000,000

Unamortized debt issuance costs

3,000,000

Daggett 2 Drop Down | CEG

Debt Instrument [Line Items]

Remaining balance to distribute

91,000,000

Daggett 2 Drop Down | Tax Equity Investors

Debt Instrument [Line Items]

Contributions from noncontrolling interests, net of distributions

120,000,000

Daggett 3 Drop Down

Debt Instrument [Line Items]

Long-term debt

$ 480,000,000

Payments for other fees

7,000,000

Expected contributions upon substantial completion

252,000,000

Unamortized debt issuance costs

5,000,000

Daggett 3 Drop Down | CEG

Debt Instrument [Line Items]

Remaining balance to distribute

45,000,000

Payments for other fees

54,000,000

Daggett 3 Drop Down | Sponsor Equity Bridge Loan

Debt Instrument [Line Items]

Payments for other fees

8,000,000

Daggett 3 Drop Down | Tax Equity Investors

Debt Instrument [Line Items]

Contributions from noncontrolling interests, net of distributions

69,000,000

Construction Loans | Cedro Hill Repowering

Debt Instrument [Line Items]

Long-term debt

38,000,000

Construction loan proceeds

54,000,000

Long-term debt, additions

99,000,000

88,000,000

Construction Loans | Rosamond Central Solar Project

Debt Instrument [Line Items]

Long-term debt

$ 115,000,000

Construction Loans | Cedar Creek Drop Down

Debt Instrument [Line Items]

Long-term debt

112,000,000

Construction Loans | Texas Solar Nova 1 Drop Down

Debt Instrument [Line Items]

Long-term debt

90,000,000

Construction Loans | Texas Solar Nova 1

Debt Instrument [Line Items]

Long-term debt, additions

102,000,000

Construction Loans | Daggett 2 Drop Down

Debt Instrument [Line Items]

Long-term debt

36,000,000

107,000,000

Construction loan proceeds

10,000,000

Long-term debt, additions

156,000,000

$ 49,000,000

Construction Loans | Daggett 3 Drop Down

Debt Instrument [Line Items]

Long-term debt

40,000,000

181,000,000

Long-term debt, additions

$ 36,000,000

217,000,000

Tax Equity Bridge Loan | Cedro Hill Repowering

Debt Instrument [Line Items]

Long-term debt

138,000,000

Tax Equity Bridge Loan | Dan’s Mountain Drop Down

Debt Instrument [Line Items]

Long-term debt

49,000,000

49,000,000

Long-term debt, additions

24,000,000

Tax Equity Bridge Loan | Rosamond Central Solar Project

Debt Instrument [Line Items]

Long-term debt

$ 188,000,000

Tax Equity Bridge Loan | Rosie Class B LLC, due 2029

Debt Instrument [Line Items]

Long-term debt

186,000,000

Tax Equity Bridge Loan | Victory Pass and Arica, due 2024

Debt Instrument [Line Items]

Long-term debt

468,000,000

Tax Equity Bridge Loan | Cedar Creek Drop Down

Debt Instrument [Line Items]

Long-term debt

109,000,000

Tax Equity Bridge Loan | Texas Solar Nova 1 Drop Down

Debt Instrument [Line Items]

Long-term debt

151,000,000

Tax Equity Bridge Loan | Texas Solar Nova 2

Debt Instrument [Line Items]

Long-term debt

115,000,000

Tax Equity Bridge Loan | Daggett 2 Drop Down

Debt Instrument [Line Items]

Long-term debt

$ 204,000,000

$ 204,000,000

Tax Equity Bridge Loan | Daggett 3 Drop Down

Debt Instrument [Line Items]

Long-term debt

229,000,000

229,000,000

Cash Equity Bridge Loan | Cedro Hill Repowering

Debt Instrument [Line Items]

Long-term debt

16,000,000

Cash Equity Bridge Loan | Dan’s Mountain Drop Down

Debt Instrument [Line Items]

Long-term debt

$ 77,000,000

Cash Equity Bridge Loan | Victory Pass and Arica, due 2024

Debt Instrument [Line Items]

Aggregate principal amount repurchased

351,000,000

Cash Equity Bridge Loan | Cedar Creek Drop Down

Debt Instrument [Line Items]

Long-term debt

91,000,000

Construction Invoices | Cedro Hill Repowering

Debt Instrument [Line Items]

Long-term debt

$ 11,000,000

Sponsor Equity Loan | Dan’s Mountain Drop Down

Debt Instrument [Line Items]

Long-term debt

77,000,000

Partial payment of long term debt

7,000,000

Tax Equity Investors | Dan’s Mountain Drop Down

Debt Instrument [Line Items]

Long-term debt

18,000,000

Tax Equity Investors | Cedar Creek Drop Down

Debt Instrument [Line Items]

Long-term debt

108,000,000

Tax Equity Investors | Texas Solar Nova 1

Debt Instrument [Line Items]

Long-term debt

148,000,000

Tax Equity Investors | Texas Solar Nova 2

Debt Instrument [Line Items]

Long-term debt

130,000,000

Term Loan | Capistrano Portfolio Holdco

Debt Instrument [Line Items]

Asset acquisition, issuance cost

$ 121,000,000

Term Loan | Broken Bow and Crofton Bluffs

Debt Instrument [Line Items]

Contributions from noncontrolling interests, net of distributions

63,000,000

Term Loan | NIMH Solar, due 2024

Debt Instrument [Line Items]

Long-term debt

137,000,000

Term Loan | Texas Solar Nova 2

Debt Instrument [Line Items]

Long-term debt

$ 80,000,000

Letter of Credit | Capistrano Portfolio Holdco

Debt Instrument [Line Items]

Asset acquisition, issuance cost

$ 42,000,000

Letter of Credit | Natural Gas CA Holdco LLC LC Facility

Debt Instrument [Line Items]

Asset acquisition, long-term debt, outstanding

$ 200,000,000

Debt instrument, term

3 years

Debt instrument, number of additional extension option | option

2

Letter of Credit | Natural Gas CA Holdco LLC LC Facility | Minimum

Debt Instrument [Line Items]

Debt instrument, extension term

1 year

Letter of Credit | NIMH Solar, due 2024

Debt Instrument [Line Items]

Long-term debt

$ 17,000,000

Construction Loan | Rosie Class B LLC, due 2029

Debt Instrument [Line Items]

Long-term debt, additions

115,000,000

$ 30,000,000

271,000,000

Construction Loan | Cedar Creek Drop Down

Debt Instrument [Line Items]

Long-term debt, additions

110,000,000

Partial payment of long term debt

$ 2,000,000

Sponsor Equity Bridge Loan | Victory Pass and Arica

Debt Instrument [Line Items]

Partial payment of long term debt

$ 133,000,000

Sponsor Equity Bridge Loan | Texas Solar Nova 1 Drop Down

Debt Instrument [Line Items]

Long-term debt

$ 109,000,000

Sponsor Equity Bridge Loan | Daggett 3 Drop Down

Debt Instrument [Line Items]

Long-term debt

$ 75,000,000

Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility

Debt Instrument [Line Items]

Basis spread on variable rate

0.10%

1.50%

Long-term debt

$ 0

$ 0

Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility | Revolving Credit Facility | Line of Credit

Debt Instrument [Line Items]

Bridge credit agreement, borrowing amount

$ 700,000,000

Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility | Letter of Credit | Line of Credit

Debt Instrument [Line Items]

Bridge credit agreement, borrowing amount

$ 594,000,000

Rosamond Central Solar Project | Letter of Credit | Line of Credit

Debt Instrument [Line Items]

Bridge credit agreement, borrowing amount

$ 41,000,000

Clearway Renew LLC | Rosamond Central Solar Project | Rosie Central BESS

Debt Instrument [Line Items]

Current assets, receivables

184,000,000

$ 64,000,000

Clearway Renew LLC | Rosie Class B LLC, due 2029

Debt Instrument [Line Items]

Long-term debt

$ 279,000,000

Clearway Renew LLC | Victory Pass and Arica, due 2024 | VP-Arica TargetCo LLC

Debt Instrument [Line Items]

Payments to acquire productive assets

$ 165,000,000

Long-term Debt - Interest Rate

Long-term Debt - Interest Rate Swaps (Details) - Interest Rate Swap $ in Millions	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
Notional Amount at December 31, 2024 (In millions)	$ 1,769
Avra Valley
Debt Instrument [Line Items]
% of Principal	85%
Fixed Interest Rate	2.20%
Notional Amount at December 31, 2024 (In millions)	$ 26
Alta Wind Asset Management
Debt Instrument [Line Items]
% of Principal	100%
Fixed Interest Rate	2.22%
Notional Amount at December 31, 2024 (In millions)	$ 10
Buckthorn Solar
Debt Instrument [Line Items]
% of Principal	80%
Notional Amount at December 31, 2024 (In millions)	$ 90
Capistrano Portfolio Holdco
Debt Instrument [Line Items]
% of Principal	100%
Notional Amount at December 31, 2024 (In millions)	$ 118
Carlsbad Energy Holdings
Debt Instrument [Line Items]
% of Principal	100%
Notional Amount at December 31, 2024 (In millions)	$ 70
Cedar Creek
Debt Instrument [Line Items]
% of Principal	100%
Fixed Interest Rate	3.02%
Notional Amount at December 31, 2024 (In millions)	$ 108
Cedro Hill
Debt Instrument [Line Items]
% of Principal	85%
Notional Amount at December 31, 2024 (In millions)	$ 84
Daggett 2
Debt Instrument [Line Items]
% of Principal	89%
Notional Amount at December 31, 2024 (In millions)	$ 137
Daggett 3
Debt Instrument [Line Items]
% of Principal	85%
Notional Amount at December 31, 2024 (In millions)	$ 184
Dan’s Mountain
Debt Instrument [Line Items]
% of Principal	93%
Fixed Interest Rate	4.97%
Notional Amount at December 31, 2024 (In millions)	$ 133
Kansas South
Debt Instrument [Line Items]
% of Principal	75%
Fixed Interest Rate	1.93%
Notional Amount at December 31, 2024 (In millions)	$ 11
Mililani Class B
Debt Instrument [Line Items]
% of Principal	97%
Notional Amount at December 31, 2024 (In millions)	$ 87
NIMH Solar
Debt Instrument [Line Items]
% of Principal	100%
Fixed Interest Rate	3.25%
Notional Amount at December 31, 2024 (In millions)	$ 126
Oahu Solar
Debt Instrument [Line Items]
% of Principal	96%
Fixed Interest Rate	2.47%
Notional Amount at December 31, 2024 (In millions)	$ 75
Rosie Class B
Debt Instrument [Line Items]
% of Principal	94%
Notional Amount at December 31, 2024 (In millions)	$ 179
South Trent
Debt Instrument [Line Items]
% of Principal	90%
Notional Amount at December 31, 2024 (In millions)	$ 18
TSN1 Class B
Debt Instrument [Line Items]
% of Principal	96%
Notional Amount at December 31, 2024 (In millions)	$ 169
Viento Funding II
Debt Instrument [Line Items]
% of Principal	90%
Fixed Interest Rate	2.53%
Notional Amount at December 31, 2024 (In millions)	$ 144

Long-term Debt - Annual Maturit

Long-term Debt - Annual Maturities (Details) $ in Millions	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 555
2026	393
2027	333
2028	1,626
2029	821
Thereafter	3,507
Total	7,235
Debt, Current	$ 125

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Reconciliation of Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Basic and diluted income per share attributable to Clearway Energy, Inc. common stockholders
Net income attributable to Clearway Energy, Inc.	$ 88	$ 79	$ 582
Weighted average number of common shares outstanding - diluted (in shares)	35	35	35
Earnings per weighted average common share - basic (in dollars per share)	$ 0.75	$ 0.67	$ 4.99
Earnings per weighted average common share - diluted (in dollars per share)	$ 0.75	$ 0.67	$ 4.99
Common Class A
Basic and diluted income per share attributable to Clearway Energy, Inc. common stockholders
Net income attributable to Clearway Energy, Inc.	$ 26	$ 23	$ 172
Weighted average number of shares outstanding - basic (in shares)	35	35	35
Weighted average number of common shares outstanding - diluted (in shares)	35	35	35
Earnings per weighted average common share - basic (in dollars per share)	$ 0.75	$ 0.67	$ 4.99
Earnings per weighted average common share - diluted (in dollars per share)	$ 0.75	$ 0.67	$ 4.99
Common Class C
Basic and diluted income per share attributable to Clearway Energy, Inc. common stockholders
Net income attributable to Clearway Energy, Inc.	$ 62	$ 56	$ 410
Weighted average number of shares outstanding - basic (in shares)	83	82	82
Weighted average number of common shares outstanding - diluted (in shares)	83	82	82
Earnings per weighted average common share - basic (in dollars per share)	$ 0.75	$ 0.67	$ 4.99
Earnings per weighted average common share - diluted (in dollars per share)	$ 0.75	$ 0.67	$ 4.99

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)		12 Months Ended
	Feb. 17, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Preferred stock, authorized (in shares)		10,000,000	10,000,000
Par value - preferred stock (in usd per share)		$ 0.01	$ 0.01
Preferred stock, issued (in shares)		0	0
Special distribution utilized to make tax payments		$ 30,000,000
CEG
Equity, Class of Treasury Stock [Line Items]
Special distribution paid			$ 21,000,000
Common Class C | Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Quarterly dividend, declared (in usd per share)	$ 0.4312
Common Class A | Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Quarterly dividend, declared (in usd per share)	0.4312
Common Class B | Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Quarterly dividend, declared (in usd per share)	0.4312
Common Class D | Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Quarterly dividend, declared (in usd per share)	$ 0.4312
ATM Programs
Equity, Class of Treasury Stock [Line Items]
Aggregate sales price		150,000,000
Available for issuance under ATM program		$ 126,000,000
ATM Programs | Common Class C
Equity, Class of Treasury Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		0	0	0

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Dividends Paid (Details) - $ / shares	3 Months Ended												12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Common Class A
Equity, Class of Treasury Stock [Line Items]
Dividends per common share (in usd per share)	$ 0.4240	$ 0.4171	$ 0.4102	$ 0.4033	$ 0.3964	$ 0.3891	$ 0.3818	$ 0.3745	$ 0.3672	$ 0.3604	$ 0.3536	$ 0.3468	$ 1.65	$ 1.54	$ 1.43
Common Class C
Equity, Class of Treasury Stock [Line Items]
Dividends per common share (in usd per share)	$ 0.4240	$ 0.4171	$ 0.4102	$ 0.4033	$ 0.3964	$ 0.3891	$ 0.3818	$ 0.3745	$ 0.3672	$ 0.3604	$ 0.3536	$ 0.3468	$ 1.65	$ 1.54	$ 1.43

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Distributions Paid (Details) - Clearway Energy LLC - $ / shares	3 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Common Class B
Equity, Class of Treasury Stock [Line Items]
Quarterly dividend, declared (in usd per share)	$ 0.4240	$ 0.4171	$ 0.4102	$ 0.4033	$ 0.3964	$ 0.3891	$ 0.3818	$ 0.3745	$ 0.3672	$ 0.3604	$ 0.3536	$ 0.3468
Common Class D
Equity, Class of Treasury Stock [Line Items]
Quarterly dividend, declared (in usd per share)	$ 0.4240	$ 0.4171	$ 0.4102	$ 0.4033	$ 0.3964	$ 0.3891	$ 0.3818	$ 0.3745	$ 0.3672	$ 0.3604	$ 0.3536	$ 0.3468

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Millions		12 Months Ended
	May 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting
Operating revenues		$ 1,371	$ 1,314	$ 1,190
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below		501	473	435
Depreciation, amortization and accretion		627	526	512
Impairment losses		0	12	16
General and administrative		39	36	40
Transaction and integration costs		8	4	7
Development costs		0	0	2
Total operating costs and expenses		1,175	1,051	1,012
Gain on sale of business		0	0	1,292
Operating income		196	263	1,470
Equity in earnings of unconsolidated affiliates		35	12	29
Other income, net		48	52	17
Loss on debt extinguishment		(5)	(6)	(2)
Interest expense		(307)	(337)	(232)
Loss Before Income Taxes		(33)	(16)	1,282
Income tax expense (benefit)		30	(2)	222
Net income	$ 8	(63)	(14)	1,060
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests		(151)	(93)	478
Net income attributable to Clearway Energy, Inc.		88	79	582
Equity investments in affiliates		309	360
Capital expenditures		188	157
Total Assets		14,329	14,701
Operating Segments
Segment Reporting
Operating revenues		1,371	1,314	1,190
Operating Segments | Flexible Generation
Segment Reporting
Operating revenues		342	420	417
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below		137	154	89
Depreciation, amortization and accretion		115	129	131
Impairment losses			0	0
General and administrative		0	0	0
Transaction and integration costs		0	0	0
Development costs				0
Total operating costs and expenses				220
Gain on sale of business				0
Operating income		90	137	197
Equity in earnings of unconsolidated affiliates		3	3	3
Other income, net		6	4	1
Loss on debt extinguishment		0	0	0
Interest expense		(35)	(35)	(40)
Loss Before Income Taxes		64	109	161
Income tax expense (benefit)		0	0	0
Net income		64	109	161
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests		0	0	0
Net income attributable to Clearway Energy, Inc.		64	109	161
Equity investments in affiliates		75	79
Capital expenditures		9	11
Total Assets		1,933	2,058
Operating Segments | Renewables
Segment Reporting
Operating revenues		1,029	894	696
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below		367	321	298
Depreciation, amortization and accretion		512	397	381
Impairment losses			12	16
General and administrative		0	0	0
Transaction and integration costs		0	0	0
Development costs				0
Total operating costs and expenses				695
Gain on sale of business				0
Operating income		150	164	1
Equity in earnings of unconsolidated affiliates		32	9	26
Other income, net		31	24	6
Loss on debt extinguishment		(5)	(6)	(2)
Interest expense		(176)	(205)	(87)
Loss Before Income Taxes		32	(14)	(56)
Income tax expense (benefit)		1	(2)	2
Net income		31	(12)	(58)
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests		(236)	(162)	(107)
Net income attributable to Clearway Energy, Inc.		267	150	49
Equity investments in affiliates		234	281
Capital expenditures		179	146
Total Assets		12,236	12,205
Operating Segments | Thermal
Segment Reporting
Operating revenues				77
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below				50
Depreciation, amortization and accretion				0
Impairment losses				0
General and administrative				2
Transaction and integration costs				0
Development costs				2
Total operating costs and expenses				54
Gain on sale of business				0
Operating income				23
Equity in earnings of unconsolidated affiliates				0
Other income, net				0
Loss on debt extinguishment				0
Interest expense				(6)
Loss Before Income Taxes				17
Income tax expense (benefit)				0
Net income				17
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests				0
Net income attributable to Clearway Energy, Inc.				17
Corporate
Segment Reporting
Operating revenues		0	0	0
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below		(3)	(2)	(2)
Depreciation, amortization and accretion		0	0	0
Impairment losses			0	0
General and administrative		39	36	38
Transaction and integration costs		8	4	7
Development costs				0
Total operating costs and expenses				43
Gain on sale of business				1,292
Operating income		(44)	(38)	1,249
Equity in earnings of unconsolidated affiliates		0	0	0
Other income, net		11	24	10
Loss on debt extinguishment		0	0	0
Interest expense		(96)	(97)	(99)
Loss Before Income Taxes		(129)	(111)	1,160
Income tax expense (benefit)		29	0	220
Net income		(158)	(111)	940
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests		85	69	585
Net income attributable to Clearway Energy, Inc.		(243)	(180)	$ 355
Equity investments in affiliates		0	0
Capital expenditures		0	0
Total Assets		$ 160	$ 438
Southern California Edison | Flexible Generation
Segment Reporting
Customer's percentage of total revenue		7%	11%	17%
Southern California Edison | Renewables
Segment Reporting
Customer's percentage of total revenue		17%	13%	17%
PG&E | Flexible Generation
Segment Reporting
Customer's percentage of total revenue		3%	4%	10%
PG&E | Renewables
Segment Reporting
Customer's percentage of total revenue		14%	13%	15%
CALIFORNIA | Revenue Benchmark | Geographic Concentration Risk
Segment Reporting
Percentage of total operating revenue and assets		60%
CALIFORNIA | Assets, Total | Geographic Concentration Risk
Segment Reporting
Percentage of total operating revenue and assets		50%

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Expense (Benefit), Continuing Operations [Abstract]
U.S. Federal	$ 1	$ (13)	$ 0
State	4	(2)	28
Current Income Tax Expense (Benefit)	5	(15)	28
Deferred
U.S. Federal	22	13	150
State	3	0	44
Total — deferred	25	13	194
Total income tax expense (benefit)	$ 30	$ (2)	$ 222

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of the U.S. Federal Statutory Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Tax Credit Carryforward [Line Items]
Loss Before Income Taxes	$ (33)	$ (16)	$ 1,282
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Tax at 21%	(7)	(3)	269
State taxes, net of federal benefit	6	(2)	58
Tax credits	(4)
State taxes assessed at subsidiaries		(3)	2
HLBV impact	32
Employee share-based payments	2
Other	1	(2)	(2)
Impact of non-taxable partnership earnings (losses)		21	(101)
Valuation allowance		3	0
Investment tax credits		(1)	0
Production tax credits		(16)	(2)
Rate change		1	(2)
Income tax expense (benefit)	$ 30	$ (2)	$ 222
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Tax at 21%	21%
State taxes, net of federal benefit	(18.20%)
Tax credits	12.10%
HLBV impact	(96.90%)
Employee share-based payments	(6.00%)
Other	(2.90%)
Effective income tax rate	(90.90%)	12.50%	17.30%
Alta TE Holdco LLC
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income tax expense (benefit)		$ 14

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Company's Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Liabilities, Gross [Abstract]
Investment in projects	$ 191	$ 241
Total deferred tax liabilities	191	241
Deferred tax assets:
Interest expense disallowance carryforward - Investment in Projects	18	17
Production tax credits	16	15
Investment tax credits	7	6
U.S. Federal net operating loss carryforwards	58	73
State net operating loss carryforwards	7	7
Total deferred tax assets	106	118
Valuation allowance	(4)	(4)
Total deferred tax assets, net of valuation allowance	102	114
Net deferred non-current tax liability	$ (89)	$ (127)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Tax Credit Carryforward [Line Items]
Taxes receivable	$ 9
Deferred Tax Liabilities, Net	(89)	$ (127)
Valuation allowance	(4)	(4)
U.S. Federal net operating loss carryforwards	58	73
State net operating loss carryforwards	7	$ 7
Federal income taxes	0
State income taxes, net of refunds received	1
Investment Tax Credit
Tax Credit Carryforward [Line Items]
Carryforward balance	$ 23

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) subsidiary	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Related Party | RENOM
Related Party Transaction
Expenses from transactions with related party	$ 82	$ 73	$ 71
Due to related party	12	13
Related Party | CEG
Related Party Transaction
Expenses from transactions with related party	6	5	5
Due to related party	5	0
Affiliated Entity | Administrative Services Agreements
Related Party Transaction
Expenses from transactions with related party	22	20	$ 16
Due to related party	$ 3	$ 2
Number of wholly owned subsidiaries | subsidiary	2

Commitment and Contingencies (D

Commitment and Contingencies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Power procurement arrangements	$ 20

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost - Fixed	$ 31	$ 40	$ 36
Operating lease cost - Variable	12	11	11
Total lease cost	43	51	47
Cash paid for operating leases	34	30	$ 28
ASSETS
Right-of-use assets, net	$ 547	$ 597
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Long-term lease liability - operating leases	Long-term lease liability - operating leases
Liabilities [Abstract]
Short-term lease liability - operating leases	$ 10	$ 7
Long-term lease liability - operating leases	569	627
Total lease liabilities	$ 579	$ 634
Weighted average remaining lease term (in years)	26 years	28 years
Weighted average discount rate	4.50%	4.20%

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) $ in Millions	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 34
2026	34
2027	35
2028	35
2029	35
Thereafter	771
Total lease payments	944
Less imputed interest	(365)
Total lease liability - operating leases	$ 579

Leases - Land Lease with Wholly

Leases - Land Lease with Wholly-Owned Subsidiary (Details) $ in Millions	Dec. 31, 2024 USD ($) renewalOption	Dec. 31, 2023 USD ($)	May 31, 2023
Lessee, Lease, Description [Line Items]
Right-of-use assets, net	$ 547	$ 597
Long-term lease liabilities	579
Renewal period			5 years
Daggett 2 | CEG
Lessee, Lease, Description [Line Items]
Right-of-use assets, net	22	22
Long-term lease liabilities	23	23
Daggett 3 | CEG
Lessee, Lease, Description [Line Items]
Right-of-use assets, net	30	31
Long-term lease liabilities	34	33
Mililani I | CEG
Lessee, Lease, Description [Line Items]
Right-of-use assets, net	18	19
Long-term lease liabilities	$ 21	20
Oahu Solar LLC
Lessee, Lease, Description [Line Items]
Number of renewal options | renewalOption	2
Renewal period	5 years
Oahu Solar LLC | CEG
Lessee, Lease, Description [Line Items]
Right-of-use assets, net	$ 17	17
Long-term lease liabilities	19	20
Rosamond Central | CEG
Lessee, Lease, Description [Line Items]
Right-of-use assets, net	11	11
Long-term lease liabilities	$ 12	$ 12

Leases - Revenue Related to Lea

Leases - Revenue Related to Leases (Details) - USD ($) $ in Millions		12 Months Ended
	May 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Renewal period	5 years
Lease receivable	$ 21
Net investment costs	13
Net income	$ 8	$ (63)	$ (14)	$ 1,060
Energy revenue | Flexible Generation
Disaggregation of Revenue [Line Items]
Lease revenue		3	4	6
Energy revenue | Renewables
Disaggregation of Revenue [Line Items]
Lease revenue		817	760	809
Energy revenue | Thermal
Disaggregation of Revenue [Line Items]
Lease revenue				1
Energy revenue | Total Segments
Disaggregation of Revenue [Line Items]
Lease revenue		820	764	816
Capacity revenue | Flexible Generation
Disaggregation of Revenue [Line Items]
Lease revenue		110	249	435
Capacity revenue | Renewables
Disaggregation of Revenue [Line Items]
Lease revenue		43	20	0
Capacity revenue | Thermal
Disaggregation of Revenue [Line Items]
Lease revenue				0
Capacity revenue | Total Segments
Disaggregation of Revenue [Line Items]
Lease revenue		153	269	435
Operating revenues | Flexible Generation
Disaggregation of Revenue [Line Items]
Lease revenue		113	274	441
Operating revenues | Renewables
Disaggregation of Revenue [Line Items]
Lease revenue		860	780	809
Operating revenues | Thermal
Disaggregation of Revenue [Line Items]
Lease revenue				1
Operating revenues | Total Segments
Disaggregation of Revenue [Line Items]
Lease revenue		$ 973	1,054	$ 1,251
Other revenue | Flexible Generation
Disaggregation of Revenue [Line Items]
Lease revenue			21
Other revenue | Renewables
Disaggregation of Revenue [Line Items]
Lease revenue			0
Other revenue | Total Segments
Disaggregation of Revenue [Line Items]
Lease revenue			$ 21

Leases - Lessor Minimum Future

Leases - Lessor Minimum Future Rent Payments Under Operating Leases (Details) $ in Millions	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 168
2026	170
2027	171
2028	172
2029	173
Thereafter	1,700
Total lease payments	$ 2,554

Leases - Property, Plant and Eq

Leases - Property, Plant and Equipment Related to Operating Leases (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Property, plant and equipment	$ 6,284	$ 5,720
Accumulated depreciation	(2,276)	(1,991)
Property, plant and equipment	$ 4,008	$ 3,729

Schedule I - Condensed Financ_2

Schedule I - Condensed Financial Information of Registrant - P/L (Details) - USD ($) $ in Millions		12 Months Ended
	May 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Total other expense, net		$ (229)	$ (279)	$ (188)
(Loss) Income Before Income Taxes		(33)	(16)	1,282
Income tax expense (benefit)		30	(2)	222
Net (Loss) Income	$ 8	(63)	(14)	1,060
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests		(151)	(93)	478
Clearway Energy, Inc.
Condensed Financial Statements, Captions [Line Items]
Total operating costs and expenses		1	1	2
Equity in (losses) earnings of consolidated subsidiaries		(33)	(13)	1,282
Total other expense, net		(33)	(13)	1,282
(Loss) Income Before Income Taxes		(34)	(14)	1,280
Income tax expense (benefit)		29	0	220
Net (Loss) Income		(63)	(14)	1,060
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests		(151)	(93)	478
Net income attributable to Clearway Energy, Inc.		$ 88	$ 79	$ 582

Schedule I - Condensed Financ_3

Schedule I - Condensed Financial Information of Registrant - B/S (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Assets
Total Assets	$ 14,329	$ 14,701
Other Liabilities
Long-term debt	7,235
Other non-current liabilities	324	286
Total Liabilities	8,765	9,706
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); 202,147,579 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 82,833,226, Class D 41,961,750) at December 31, 2024 and 202,080,794 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 82,391,441, Class D 42,336,750) at December 31, 2023	1	1
Additional paid-in capital	1,805	1,732
Retained earnings	254	361
Accumulated other comprehensive income	3	7
Noncontrolling interest	3,501	2,893
Total Stockholders’ Equity	5,564	4,994	$ 4,026	$ 3,300
Total Liabilities and Stockholders’ Equity	14,329	14,701
Affiliated Entity
Current Assets
Note receivable — affiliate	0	174
Clearway Energy, Inc.
Current Assets
Note receivable — affiliate	0	1
Other current assets	9	13
Other Assets
Investment in consolidated subsidiaries	5,642	5,106
Total Assets	5,655	5,123
Other Liabilities
Long-term debt	87	125
Other non-current liabilities	4	4
Total Liabilities	91	129
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); 202,147,579 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 82,833,226, Class D 41,961,750) at December 31, 2024 and 202,080,794 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 82,391,441, Class D 42,336,750) at December 31, 2023	1	1
Additional paid-in capital	1,805	1,732
Retained earnings	254	361
Accumulated other comprehensive income	3	7
Noncontrolling interest	3,501	2,893
Total Stockholders’ Equity	5,564	4,994
Total Liabilities and Stockholders’ Equity	5,655	5,123
Clearway Energy, Inc. | Affiliated Entity
Current Assets
Accounts receivable — trade	$ 4	$ 3

Schedule I - Condensed Financ_4

Schedule I - Condensed Financial Information of Registrant - B/S Parenthetical (Details) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]
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, shares authorized (in shares)	3,000,000,000	3,000,000,000
Common stock, shares issued (in shares)	202,147,579	202,080,794
Common stock, shares outstanding (in shares)	202,147,579	202,080,794
Common Class A
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	34,613,853	34,613,853
Common stock, shares outstanding (in shares)	34,613,853	34,613,853
Common Class B
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	42,738,750	42,738,750
Common stock, shares outstanding (in shares)	42,738,750	42,738,750
Common Class C
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	82,833,226	82,391,441
Common stock, shares outstanding (in shares)	82,833,226	82,391,441
Common Class D
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	41,961,750	42,336,750
Common stock, shares outstanding (in shares)	41,961,750	42,336,750
Clearway Energy, Inc.
Condensed Financial Statements, Captions [Line Items]
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, shares authorized (in shares)	3,000,000,000	3,000,000,000
Common stock, shares issued (in shares)	202,147,579	202,080,794
Common stock, shares outstanding (in shares)	202,147,579	202,080,794
Clearway Energy, Inc. | Common Class A
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	34,613,853	34,613,853
Common stock, shares outstanding (in shares)	34,613,853	34,613,853
Clearway Energy, Inc. | Common Class B
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	42,738,750	42,738,750
Common stock, shares outstanding (in shares)	42,738,750	42,738,750
Clearway Energy, Inc. | Common Class C
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	82,833,226	82,391,441
Common stock, shares outstanding (in shares)	82,833,226	82,391,441
Clearway Energy, Inc. | Common Class D
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	41,961,750	42,336,750
Common stock, shares outstanding (in shares)	41,961,750	42,336,750

Schedule I - Condensed Financ_5

Schedule I - Condensed Financial Information of Registrant - CF (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities
Net Cash Used in Operating Activities	$ 770	$ 702	$ 787
Cash Flows from Investing Activities
Net Cash Provided by (Used in) Investing Activities	(725)	(523)	1,065
Cash Flows from Financing Activities
Net Cash Provided by Financing Activities	(363)	(124)	(1,510)
Net Change in Cash	(318)	55	342
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	1,051	996	654
Cash, Cash Equivalents and Restricted Cash at End of Period	733	1,051	996
Clearway Energy, Inc.
Cash Flows from Operating Activities
Net Cash Used in Operating Activities	(2)	(31)	(10)
Cash Flows from Investing Activities
Cash advances for notes receivable — affiliate	0	0	(4)
Cash received from notes receivable — affiliate	1	1	3
Net Cash Provided by (Used in) Investing Activities	1	1	(1)
Cash Flows from Financing Activities
Cash received from Clearway Energy LLC for tax-related distributions	1	30	11
Cash received from Clearway Energy LLC for the payment of dividends	194	180	167
Payment of dividends	(194)	(180)	(167)
Net Cash Provided by Financing Activities	1	30	11
Net Change in Cash	0	0	0
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	0	0	0
Cash, Cash Equivalents and Restricted Cash at End of Period	$ 0	$ 0	$ 0

Schedule I - Condensed Financ_6

Schedule I - Condensed Financial Information of Registrant - Footnotes (Details) $ in Millions		12 Months Ended
	Oct. 01, 2024	Dec. 31, 2024 USD ($) state GW	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Condensed Cash Flow Statements, Captions [Line Items]
Power generation capacity, gigawatts (over)		11.8
Number of states | state		26
Cash distributions | $		$ 194	$ 180	$ 167
Clearway Energy, Inc. | Clearway Energy LLC
Condensed Cash Flow Statements, Captions [Line Items]
Ownership interest (as a percentage)		58.10%
Clearway Energy LLC | CEG
Condensed Cash Flow Statements, Captions [Line Items]
Ownership interest (as a percentage)		41.90%
Black Rock Drop Down | Global Infrastructure Management
Condensed Cash Flow Statements, Captions [Line Items]
Ownership interest (as a percentage)	100%
Conventional Generation, Utility-Scale Solar, Distributed Solar, and Wind
Condensed Cash Flow Statements, Captions [Line Items]
Power generation capacity, gigawatts (over)		9
Generational Facilities and District Energy Systems
Condensed Cash Flow Statements, Captions [Line Items]
Power generation capacity, gigawatts (over)		2.8

Schedule II VALUATION AND QUA_2

Schedule II VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 4	$ 1	$ 1
Charged to costs and expenses	0	3	0
Charged to other accounts	0	0	0
Balance at end of period	$ 4	$ 4	$ 1