Clearway Energy, Inc. (NYSE: CWEN) reported Q3 EPS of $0.27. Revenue for the quarter came in at $332 million.

• Signed agreements with Clearway Group (CEG) to acquire the Repowered 160 MW Langford Wind Project
• Acquired CEG’s residual interest in the Distributed Generation Partnerships, including an associated SREC contract
• Received offer from CEG to invest in, inclusive of CEG’s interest in Mesquite Star, a 1.6 GW renewable project partnership
• Raised $120 million of new corporate capital through the refinancing of non-recourse project debt and additional equity under the ATM program
• Increasing the quarterly dividend by 1.8% to $0.318 per share in the fourth quarter of 2020; Reiterating Clearway’s long term annual dividend growth target of 5-8%, with upper end in 2021
• Reaffirming 2020 financial guidance, updating pro forma CAFD outlook and initiating 2021 financial guidance

"While the Company’s current year financial outlook has primarily been impacted by challenging renewable energy conditions in part due to the severe fires on the west coast and modest volumetric changes at the Thermal segment related to COVID-19, the prospects for long term growth at Clearway remain robust,” said Christopher Sotos, Clearway Energy, Inc.’s President and Chief Executive Officer. “With the new transactions announced today, Clearway has now committed to nearly $450 million in new investments during the year. When combined with the Company's available capital resources, including the now released cash from the PG&E related projects and $120 million of newly raised corporate capital, the Company can execute upon this growth in an efficient and accretive manner. This affords us the flexibility to meet our long term 5-8% annual dividend growth target, including the upper end through next year. In addition, and as we look beyond next year, we continue to engage with CEG on new opportunities, including today’s announcement of a new drop down offer for an investment in a 1.6 GW project partnership which will lead to further sustained dividend growth.”

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