Clearway Energy Group

What Clearway Energy Group does

Clearway Energy Group is a privately held, vertically integrated independent clean power producer and developer headquartered in San Francisco, California, founded in 2018 when NRG Energy spun off its renewable energy portfolio. The company develops, owns, and operates utility-scale wind, solar, and battery energy storage systems across approximately 27 U.S. states (with development activity in 35 states), controlling a 14 GW gross operating portfolio (11 GW owned) and a 30 GW development pipeline spanning 450+ projects. Its technology stack is physical-asset focused, covering greenfield origination, permitting, transmission interconnection, engineering, procurement, construction management, project finance, and long-duration commercial operations and asset management.

The company generates revenue through long-term (typically 15-20 year) power purchase agreements with investor-owned utilities, community choice aggregators, corporations, governments, and educational institutions, supplemented by resource adequacy contracts for storage capacity (e.g., with Southern California Edison) and ancillary project financing arrangements. Named customers include Google (1.17 GW PPA portfolio), Microsoft (335 MW PPA), Toyota, Deere & Company, Whirlpool, Dell Technologies, PacifiCorp, Xcel Energy, Hawaiian Electric, PG&E, and multiple California CCAs (SVCE, 3CE, CPA, PCE, Ava, MCE). The company is jointly owned by Global Infrastructure Partners (GIP) and TotalEnergies following GIP's 2022 controlling acquisition and subsequent TotalEnergies strategic partnership, and is closely related to — but distinct from — public affiliate Clearway Energy, Inc. (NYSE: CWEN), which holds a subset of operating assets.

Clearway has raised over $24 billion in capital across 450+ projects, including seven disclosed project financings between 2023 and 2026 totaling roughly $3.9 billion (Rosamond Central $421M, Rosamond South I $550M, Cedro Hill $269M, Pine Forest $685M, Honeycomb $605M, Spindle $261M), plus a $1B+ corporate credit facility. Recent strategic moves include the 2026 joint development framework with Quanta Services for co-located data center power, the 1.24 GW Google partnership, and active M&A (Catalina Solar and a 137 MW Washington wind project in 2025). The company employs over 1,000 people across offices in San Francisco, Denver, Houston, Phoenix/Scottsdale, Princeton, and San Diego.

Name

Clearway Energy Group

Legal name

Clearway Energy Group LLC

Website

https://clearwayenergygroup.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Clearway Energy Group is a privately held, vertically integrated U.S. clean power producer and developer, owning and operating 11 GW of utility-scale wind, solar, and battery storage across 27 states with a 30 GW pipeline, serving utilities, corporations, and community choice aggregators via long-term PPAs.

Ownership category

akta.pro rank

Product category

Renewable Energy Generation

NAICS

Electric Power Generation, Transmission and Distribution (2211), Wind Electric Power Generation (221115), Electric Power Generation (22111)

SIC

Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF)

akta.pro secondary industries

Utility-Scale Power Generation Asset Management (EUAEAMAA), Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG), Energy Storage Components for Renewables Manufacturing (BESS Packs, PCS, Thermal Management) (EUAMAHAI), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK), Renewable Energy Infrastructure (FSAAAKAG)

Keywords

• Renewable energy development
• Utility-scale solar
• Wind power generation
• Battery energy storage
• Power purchase agreements

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Power Purchase Agreements (PPAs): Long-term power purchase agreements with utilities, corporations, governments, educational institutions, and community choice aggregators. Contracts typically range from 15-20 years, providing predictable revenue streams. Virtual and physical PPA structures available.
2. Resource Adequacy Contracts: Long-term resource adequacy contracts with utilities such as Southern California Edison for battery storage capacity, providing contracted revenue for grid reliability services.
3. Project Financing: Clearway arranges 100% of project funding through combinations of sponsor equity, construction financing, tax equity, and debt. Over $24 billion capital raised across 450+ distinct projects.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels8 records

Core offering

Clearway Energy Group develops, owns, and operates utility-scale wind, solar, battery energy storage, and flexible generation assets across the United States, delivering clean electricity under long-term power purchase agreements and resource adequacy contracts to utilities, corporations, governments, and community choice aggregators. The company controls all stages of the value chain from greenfield development through financing, construction management, and decades of asset operations, with 14 GW of gross operating capacity across 27-35 states.

Product overview

Clearway Energy Group is a leading independent power producer operating a diversified clean energy platform across 27 states. The company's integrated platform combines utility-scale solar projects (approximately 5.5 GW capacity including Rosamond Central, Daggett Solar, Texas Solar Nova), utility-scale wind projects (4.5 GW including Alta Wind, Mesquite Sky, Cedar Creek), battery energy storage systems (1.4 GW operating with 8 GW in development including Rosamond Central BESS, Daggett BESS, Spindle Energy Center), flexible natural gas generation (2.8 GW through its public affiliate), and community solar programs. The platform is structured around full-scope project development (from origination through financing), long-term ownership and operations, and power purchase agreement delivery to over 100 customers including utilities, corporations, educational institutions, and governments. Projects like the Pine Forest Energy Center (300 MW solar + 200 MW storage), Honeycomb Energy Center (320 MW storage), and Daggett Solar + Storage (482 MW solar + 394 MW storage) exemplify the co-located solar-plus-storage model that Clearway deploys across its portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Utility-Scale Solar Projects Large-scale solar farm development, ownership, and operation. Clearway owns and operates approximately 5.5 GW of solar energy capacity across 19 states, including Rosamond Central, Daggett Solar, Texas Solar Nova, and Agua Caliente. Customers include utilities, corporations, and CCAs procuring carbon-free energy under long-term PPAs.
• Utility-Scale Wind Projects Large-scale wind farm development, ownership, and operation. Clearway owns and operates 4.5 GW of wind assets across 13 states, including Alta Wind (947 MW - North America's largest operating wind facility), Mesquite Sky (345 MW), Cedar Creek (152 MW), and Rattlesnake Flat (160 MW). Customers include utilities and corporate buyers under long-term PPAs.
• Battery Energy Storage Systems (BESS) Grid-enhancing and standalone battery energy storage solutions. Clearway operates 1.4 GW of battery storage with 8 GW in development across 17 states, including Rosamond Central BESS (147 MW), Daggett BESS (113 MW), Spindle Energy Center (199 MW/398 MWh), and Honeycomb Energy Center (320 MW/1,280 MWh). Customers include utilities seeking resource adequacy and grid reliability services.
• Flexible Generation Natural gas-powered flexible generation assets providing critical grid reliability services. Through its public affiliate, Clearway owns 2.8 GW of flexible natural gas generation in California and Connecticut, including Carlsbad Energy Center (527 MW), El Segundo Energy Center (546 MW), and Marsh Landing (820 MW).
• Community Solar Community and distributed solar programs enabling residential customers to access clean energy through subscriptions, allowing customers to benefit from solar energy without installing panels on their own properties.
• Power Purchase Agreements (PPAs) Long-term power purchase agreements (virtual and physical) enabling customers to procure carbon-free energy. Clearway delivers energy under PPAs to corporations, utilities, municipalities, cooperatives, community choice aggregators, and competitive retail providers for terms up to 20 years.
• Project Development Services Full-scope renewable energy project development from greenfield origination through construction and financing. Services include site evaluation, environmental reviews, permitting, transmission interconnection, contracting, design engineering, and project finance across wind, solar, and storage technologies.
• Commercial Operations and Asset Management In-house asset management, operations and maintenance, and energy management for owned renewable generation assets. Clearway manages wind, solar, and battery storage assets through proprietary strategies for price forecasting, market analysis, and trade execution.
• Honeycomb Energy Center Large-scale grid-enhancing battery storage facility in Utah delivering dispatchable power to PacifiCorp under a 20-year contract. Built with American-made Tesla equipment and domestically sourced steel, the project comprises four 80 MW battery systems providing 1,280 MWh of dispatchable storage.
• Spindle Energy Center Grid-enhancing battery storage project in Weld County, Colorado delivering dispatchable power to Xcel Energy under a long-term agreement. Uses American-made 2-hour Tesla batteries to store up to 398 MWh.
• Pine Forest Energy Center Solar-plus-storage co-located facility in Hopkins County, Texas combining 300 MW of solar PV and 200 MW of battery storage, delivering power under virtual PPAs with Dell Technologies and Universal Corporation.
• Rosamond South Energy Center Grid-enhancing solar and storage facility in Kern County, California combining 140 MW of solar PV with 118 MW of energy storage capacity.
• Rosamond Central BESS Battery energy storage system paired with an existing solar farm in Kern County, California, providing four hours of dispatchable energy under a resource adequacy contract with Southern California Edison. Uses Wärtsilä battery equipment.

Quantifiable outcome

• 14 GW gross operating capacity (11 GW owned)
• +5 more outcomes

Named customers20 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered strategic and core.

• Quanta ServicesstrategicStrategic or Co-development Partner · 16 May 2026Joint development framework with Quanta Services for co-located energy and data centers. Represents over $1 billion in potential drop-down acquisition opportunities by 2030.
• TeslacoreTechnology or Integration · 13 May 2026Equipment supplier for Honeycomb Energy Center in Utah - 320 MW/1,280 MWh battery storage using American-made Tesla equipment. Also supplier for Spindle Energy Center in Colorado using 2-hour Tesla batteries.
• Blattner EnergycoreImplementation/ SI/ Consulting Partner · 5 February 2026Primary construction partner for Pine Forest Energy Center in Texas (300 MW solar + 200 MW storage, $685 million investment) and Spindle Energy Center in Colorado ($261 million, 199 MW storage). Created nearly 80-480 jobs per project.
• MicrosoftcoreStrategic or Co-development Partner · 28 April 2025335 MW power purchase agreement with Clearway for wind repower projects in West Virginia supporting Microsoft's sustainability and carbon-free energy goals.
• VestascoreTechnology or Integration · 1 April 2025Turbine supplier for 335 MW wind repower project in West Virginia. Vestas providing turbines for Mount Storm Energy Center repowering.
• WärtsiläcoreTechnology or Integration · 26 July 2023Battery supplier for Rosamond Central BESS project - 147 MW/588 MWh lithium-ion battery energy storage system in Kern County, California. Wärtsilä provides equipment for Clearway's first battery retrofit storage facility.
• RosendincoreImplementation/ SI/ Consulting Partner · 26 July 2023Construction partner leading construction of Rosamond Central BESS project. Industry-leading EPC firm with significant experience across product applications.

Scale indicators15 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Invenergy: Privately held US-based developer, owner, and operator of utility-scale wind, solar, and storage projects. Highly comparable business model with greenfield development through long-term operations across multiple technologies.
• Apex Clean Energy: Private US wind and solar developer with multi-GW operating fleet and development pipeline. Closely comparable as a pure-play US renewable developer competing for the same hyperscaler and utility PPAs.

Regional players

• Ørsted: Global offshore wind leader with growing US onshore renewables footprint. Comparable in wind/IPP model and in transitioning from fossil generation to renewables, though primarily offshore-focused.

Emerging players

• Avantus (formerly 8minute Solar Energy): Private US solar and storage developer with deep utility-scale pipeline in the western US. Comparable as a focused, developer-led competitor pursuing the same hyperscale PPA opportunities.

Others

• Quanta Services: Infrastructure solutions provider for the electric power industry; Clearway has a joint development framework with Quanta for co-located energy and data center projects. Adjacent rather than directly competing, but a key EPC and infrastructure partner.

Broad incumbents

• Engie North America: US arm of French utility Engie, developing and operating utility-scale wind, solar, and storage. Comparable as a utility-backed developer with similar technology mix and PPA-based revenue model.
• NextEra Energy: The largest US renewable energy operator and developer (NextEra Energy Resources), with wind, solar, and storage fleets materially larger than Clearway's. Direct strategic peer in utility-scale wind/solar ownership and PPA origination.
• Brookfield Renewable Partners: Publicly listed renewable power platform owned by Brookfield Asset Management, operating hydro, wind, solar, and storage globally. Comparable IPP model and infrastructure-investor sponsorship structure.
• EDF Renewables North America: Subsidiary of Électricité de France operating US wind, solar, and storage projects. Comparable as a utility-affiliated renewable developer and IPP with utility-scale project pipeline.
• AES Corporation: Global IPP with significant US renewable and storage operations, including the sPower and AES Distributed Energy platforms. Comparable in IPP model and in building wind/solar/storage portfolios under long-term contracts.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/ClearwayEnergy
• YouTubeyoutube.com/channel/UCFhKbfqlFldl9ZL7ubJFETA
• LinkedInlinkedin.com/company/clearway-energy-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles29 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Clearway Energy Group