Clearway Energy is a publicly traded clean energy infrastructure company that owns and operates a portfolio of roughly 12.9 GW of gross power generation capacity across 27 states. The core business is owning wind, solar, and battery energy storage (BESS) assets — totaling approximately 10.1 GW — that sell electricity and renewable energy certificates under long-term, fixed-price power purchase agreements (PPAs) to utilities and commercial customers. Southern California Edison and Pacific Gas & Electric together account for roughly 38% of consolidated revenue. Clearway also owns approximately 2.8 GW of natural gas generation in California, which provides grid reliability services and carries some market-linked revenue exposure. Clearway has no employees; operations and asset management are handled by its sponsor, Clearway Energy Group (CEG), under a services agreement. Clearway grows by deploying capital into new assets at target cash yields of 10–11%, funded through retained cash flow, project-level debt, and equity. Growth comes from three channels: repowering aging wind assets, acquiring drop-down projects from CEG's 30+ GW development pipeline, and third-party M&A. CEG is also developing large multi-technology generation complexes to serve hyperscaler data center demand, which Clearway expects to create additional investment opportunities in the early 2030s.