Clearway Energy Inc-C 2025年度报告

STOCKHOLDER INFORMATION STOCK TRANSFER AGENT & REGISTRAR Shareholder correspondence should be mailed to:ComputersharePO Box 505000Louisville KY 40233-5000 STOCKHOLDER INQUIRIES Overnight correspondence should be mailed to: Computershare462 South 4th Street Suite 1600Louisville KY 40202 1 (877) 373-6374 Email: shareholder@computershare.com Online inquires: www-us.computershare.com/Investor/#Contact Website: www.computershare.com/investor Send certificates for transfers & address changes to: ComputersharePO Box 505000Louisville KY 40233-5000 STOCK LISTING Clearway Energy’s Class A and Class C common stock are listed on theNew York Stock Exchange under the ticker symbols CWEN.A and CWEN respectively Clearway Energy’s Annual Report Form 10-K Proxy Statementand other SEC Filings are available at www.clearwayenergy.com UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549Form 10-K ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the Transition period fromto. Commission File Number: 001-36002Clearway Energy, Inc. (Exact name of registrant as specified in its charter) Delaware Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐Nox Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.x Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ As of the last business day of the most recently completed second fiscal quarter, the aggregate market value of the common stock of the registrant held by non-affiliateswas approximately $2,789 million based on the closing sale prices of such shares as reported on the New York Stock Exchange. Indicate the number of shares outstanding of each of the registrant’s classes of common stock as of the latest practicable date. TABLE OF CONTENTSIndex GLOSSARY OF TERMS PART I Item 1 — BusinessItem 1A — Risk FactorsItem 1B — Unresolved Staff CommentsItem 1C — CybersecurityItem 2 — PropertiesItem 3 — Legal ProceedingsItem 4 — Mine Safety Disclosures PART II Item 5 — Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities47Item 6 — Reserved48Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operations49Item 7A — Quantitative and Qualitative Disclosures About Market Risk70Item 8 — Financial Statements and Supplementary Data70Item 9 — Changes in and Disagreements with Accountants on Accounting and Financial Disclosure71Item 9A — Controls and Procedures71Item 9B — Other Information72 PART III Item 10 — Information about Directors, Executive Officers and Corporate Governance73Item 11 — Executive Compensation76Item 12 — Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters76Item 13 — Certain Relationships and Related Transactions, and Director Independence76Item 14 — Principal Accounting Fees and Services76 PART IV Item 15 — Exhibits, Financial Statement Schedules EXHIBIT INDEXItem 16 — Form 10-K Summary GLOSSARY OF TERMS When the following terms and abbreviations appear in the tex