Clearway Energy, Inc. Announces CEO Transition and Reiterates 2024 Financial Guidance - Seite 2

"Chris was an instrumental creator of the business that became Clearway and has been a great colleague over his incredible arc of service. It’s been a true privilege getting to co-lead the enterprise alongside him. He’s built a solid foundation for CWEN that will allow for a seamless transition as we go forward. The Clearway enterprise has a talented employee base across our organization that supports both Clearway Energy, Inc. and Clearway Group. We remain well positioned to sustainably grow CAFD per share and our clean energy fleet for years to come and look forward to doing that,” said Craig Cornelius, Clearway Energy, Inc.’s incoming President and Chief Executive Officer. “We continue to expect CWEN to achieve the upper range of its 5% to 8% annual dividend growth objective without needing external capital through at least 2026.  Furthermore, and consistent with prior disclosures, we see potential for CWEN’s CAFD per share growth in 2027 to be in that same range if the balance of our gas fleet contracts its capacity to deliver resource adequacy at the same or better pricing as previously disclosed contract awards.”

Financial Guidance

The Company is reaffirming its 2024 full year CAFD guidance of $395 million. The Company's 2024 financial guidance factors in the contribution of committed growth investments based on current expected closing timelines and estimates for merchant energy gross margin at the conventional fleet. 2024 CAFD guidance does not factor in the timing of when CAFD is realized from new growth investments pursuant to 5-year averages beyond 2024. Financial guidance is based on median renewable energy production estimates for the full year.

First Quarter Earnings Call

Management plans to report first quarter 2024 financial results on Thursday, May 9. Management will present the results during a conference call and webcast at 8:00 a.m. Eastern. A live webcast of the conference call, including presentation materials, can be accessed through the Company’s website at http://www.clearwayenergy.com and clicking on “Presentations & Webcasts” under the Investor Relations section. The webcast will be archived on the site for those unable to listen in real time.

About Clearway Energy, Inc.

Clearway Energy, Inc. is one of the largest renewable energy owners in the US with approximately 6,000 net MW of installed wind, solar and energy storage projects. The Company's approximately 8,500 net MW of assets also include approximately 2,500 net MW of environmentally-sound, highly efficient natural gas generation facilities. Through this environmentally-sound diversified and primarily contracted portfolio, Clearway Energy endeavors to provide its investors with stable and growing dividend income. Clearway Energy, Inc.’s Class C and Class A common stock are traded on the New York Stock Exchange under the symbols CWEN and CWEN.A, respectively. Clearway Energy, Inc. is sponsored by its controlling investor, Clearway Energy Group LLC. For more information, visit investor.clearwayenergy.com.