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Clearway Energy logo
Clearway Energy CWEN
$ 34.69 0.0%
report update icon

Quarterly report 2026-Q3
added 11-09-2026

Clearway Energy Balance Sheet 2025-2010 | CWEN

Brief overview of Clearway Energy's balance sheet structure

Balance sheet changes are traced across five available annual reports between 2021 and 2025.

Assets added +30%, reaching $16.7 billion from $12.8 billion five periods earlier; annual growth near 6.8% remained solid.

Liabilities grew more slowly than assets: +12.9% versus +30%. Expansion relied more on equity, improving funding quality.

Equity finances 34.9% of the balance sheet, compared with 25.8% at the start. The cushion remains adequate.

Each unit of equity supports about 1.32x of net debt. The level is not critical, though flexibility is narrower.

Cash represents 1.4% of assets versus 1.4% initially, showing how the immediate liquidity reserve changed.

By the end of the period, accumulated earnings were $213 million; the change from the start was +745.5%.

Overall picture

The indicators point to a strong balance sheet position for Clearway Energy: funding is balanced and liability risks appear controlled.

Annual Balance Sheet Clearway Energy

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010

Net Debt

7.69 B 6.43 B 6.95 B 5.84 B 6.77 B 6.32 B 6.62 B 5.58 B 5.69 B 5.39 B 4.69 B 3.66 B 1.1 B 785 M 321 M -

Long Term Debt

7.9 B 6.75 B 7.48 B 6.49 B 6.94 B 6.58 B 4.96 B 5.45 B 5.53 B 5.43 B 4.56 B 3.89 B 1 B 749 M 312 M -

Long Term Debt Current

20 M 10 M 7 M 6 M 8 M 8 M 7 M - - - 241 M 224 M 214 M - - -

Total Non Current Liabilities

9.72 B 8.05 B 8.8 B 7.66 B 7.88 B 7.24 B 5.38 B 5.57 B 5.66 B 5.55 B 4.69 B 3.98 B 1.04 B 839 M 353 M -

Total Current Liabilities

1.02 B 718 M 906 M 617 M 1.63 B 634 M 2.06 B 704 M 486 M 472 M 489 M 409 M 369 M - - -

Total Liabilities

10.7 B 8.76 B 9.71 B 8.28 B 9.51 B 7.88 B 7.44 B 6.28 B 6.14 B 6.01 B 5.14 B 4.27 B 1.3 B 1.12 B 487 M -

Retained Earnings

213 M 254 M 361 M 463 M -33 M -84 M -72 M -58 M -69 M -2 M 12 M 3 M 8 M 30 M 40 M -

Total Assets

16.7 B 14.3 B 14.7 B 12.3 B 12.8 B 10.6 B 9.7 B 8.5 B 8.28 B 8.38 B 7.78 B 5.75 B 2.31 B 1.89 B 874 M -

Cash and Cash Equivalents

231 M 332 M 535 M 657 M 179 M 268 M 155 M 407 M 148 M 322 M 111 M 429 M 59 M 22 M 24 M 30 M

Book Value

5.91 B 5.56 B 5 B 4.03 B 3.3 B 2.72 B 2.26 B 2.22 B 2.14 B 2.37 B 2.63 B 1.48 B 1.01 B 767 M 387 M -

Total Shareholders Equity

5.81 B 5.56 B 4.99 B 4.03 B 3.3 B 2.72 B 2.26 B 2.22 B 2.16 B 2.62 B 2.9 B 2.84 B 1.59 B 1.24 B 561 M 193 M

All numbers in USD currency

Quarterly Balance Sheet Clearway Energy

2026-Q3 2026-Q2 2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Long Term Debt

823 M 829 M 826 M 796 M 792 M 635 M 594 M 569 M 570 M 626 M 642 M 627 M 601 M 578 M 577 M 548 M 541 M 527 M 541 M 561 M 361 M 361 M 354 M 345 M 260 M 260 M 222 M 227 M 193 M 186 M 168 M 5.45 B 4.93 B 5.24 B 5.26 B 5.66 B 5.52 B 5.6 B 5.66 B 5.73 B 5.36 B 4.46 B 4.52 B 5.33 B 4.28 B 4.34 B 4.72 B 4.7 B 3.93 B 1.88 B 1.31 B 1.57 B 1.17 B 1.08 B 1 B 749 M 749 M 807 M - - - - -

Total Non Current Liabilities

10.7 B 10.3 B 10.4 B 9.72 B 9.59 B 9.62 B 8.54 B 8.05 B 7.96 B 8.1 B 8.94 B 8.8 B 8.26 B 7.88 B 7.95 B 7.66 B 7.67 B 7.71 B 7.96 B 7.88 B 8.01 B 8.12 B 8.1 B 7.24 B 6.89 B 6.95 B 5.58 B 5.38 B 4.55 B 4.55 B 4.53 B 5.57 B 5.04 B 5.36 B 5.38 B 5.79 B 5.65 B 5.74 B 5.79 B 5.86 B 5.56 B 4.67 B 4.72 B 5.46 B 4.41 B 4.43 B 4.86 B 4.83 B 3.98 B 1.93 B 1.35 B 1.62 B 1.07 B 1.62 B 1.04 B 839 M 839 M - - - - - -

Total Liabilities

11.6 B 11.2 B 11.4 B 10.7 B 10.3 B 10.5 B 9.23 B 8.76 B 8.62 B 8.8 B 9.82 B 9.71 B 9.1 B 8.48 B 8.59 B 8.28 B 8.48 B 8.46 B 9.49 B 9.51 B 8.82 B 8.88 B 8.85 B 7.88 B 7.49 B 7.5 B 7.29 B 7.44 B 6.79 B 6.68 B 6.32 B 6.28 B 6.12 B 6.16 B 6.24 B 6.33 B 6.14 B 6.18 B 6.24 B 6.36 B 6.01 B 5.05 B 5.1 B 5.95 B 4.84 B 5 B 5.25 B 5.24 B 4.28 B 2.16 B 1.5 B 1.99 B 1.34 B 1.99 B 1.3 B 1.12 B 1.12 B - - - - - -

Retained Earnings

104 M 111 M -6 M 213 M 358 M 178 M 200 M 254 M 301 M 314 M 311 M 361 M 370 M 412 M 419 M 463 M 494 M 505 M -65 M -33 M -25 M -46 M -81 M -84 M -22 M -54 M -101 M -72 M -66 M -105 M -80 M -58 M 13 M 25 M -53 M -69 M 24 M 23 M -5 M -2 M 35 M 26 M 7 M 12 M 15 M 8 M -2 M 3 M 5 M 3 M 4 M 8 M 9 M 8 M 8 M - 30 M - - - - - -

Total Assets

17.4 B 16.8 B 16.9 B 16.7 B 16.1 B 16 B 14.6 B 14.3 B 14.2 B 14.5 B 14.9 B 14.7 B 13.4 B 12.6 B 12.7 B 12.3 B 12.6 B 12.6 B 12.6 B 12.8 B 11.8 B 11.9 B 11.8 B 10.6 B 9.72 B 9.74 B 9.56 B 9.7 B 8.84 B 8.73 B 8.46 B 8.5 B 8.5 B 8.45 B 8.36 B 8.49 B 8.44 B 8.51 B 8.58 B 8.96 B 8.48 B 7.61 B 7.66 B 8.69 B 6.99 B 7.21 B 6.6 B 7.86 B 5.9 B 3.24 B 2.53 B 3.24 B 2.33 B 2.07 B 2.31 B 1.96 B 1.96 B - - - - - -

Cash and Cash Equivalents

746 M 543 M 680 M 818 M 641 M 786 M 711 M 733 M 674 M 570 M 963 M 1.05 B 1.16 B 918 M 1.01 B 996 M 1.16 B 1.29 B 466 M 654 M 555 M 470 M 431 M 465 M 537 M 416 M 380 M 417 M 397 M 296 M 298 M 583 M 389 M 269 M 277 M 316 M 323 M 300 M 323 M 498 M 338 M 213 M 76 M 254 M 76 M 307 M 134 M 573 M 393 M 108 M 434 M 59 M 121 M 18 M 36 M 22 M 22 M - - 24 M - - -

Book Value

5.77 B 5.6 B 5.57 B 5.91 B 5.79 B 5.58 B 5.42 B 5.56 B 5.63 B 5.72 B 5.05 B 5 B 4.27 B 4.14 B 4.16 B 4.03 B 4.12 B 4.19 B 3.14 B 3.3 B 2.96 B 3 B 3 B 2.72 B 2.24 B 2.23 B 2.26 B 2.26 B 2.05 B 2.05 B 2.14 B 2.22 B 2.38 B 2.29 B 2.13 B 2.16 B 2.3 B 2.34 B 2.34 B 2.6 B 2.47 B 2.56 B 2.56 B 2.74 B 2.15 B 2.21 B 1.34 B 2.62 B 1.61 B 1.07 B 1.03 B 1.25 B 991 M 88 M 1.01 B 840 M 840 M - - - - - -

Total Shareholders Equity

5.64 B 5.47 B 5.5 B 5.81 B 5.68 B 5.54 B 5.42 B 5.56 B 5.62 B 5.71 B 5.04 B 4.99 B 4.25 B 4.13 B 4.15 B 4.03 B 4.11 B 4.19 B 3.14 B 3.3 B 2.96 B 3 B 3 B 2.72 B 2.24 B 2.23 B 2.26 B 2.26 B 2.05 B 2.05 B 2.14 B 2.22 B 2.38 B 2.29 B 2.13 B 2.16 B 2.3 B 2.34 B 2.34 B 2.62 B 2.47 B 2.56 B 2.56 B 2.9 B 2.15 B 2.21 B 1.34 B 2.91 B 1.61 B 1.07 B 1.03 B 1.69 B 991 M 1.25 B 1.01 B 1.34 B 840 M - - 561 M - - -

All numbers in USD currency

Balance Sheet is a fundamental financial report of Clearway Energy, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.

For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.

Features of balance sheet analysis
  • Vertical and horizontal analysis
    Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods.
  • Asset quality
    It is important to evaluate not only the amount of assets but also their liquidity and realizability.
  • Accounting for off-balance sheet liabilities
    Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.

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