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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Estimated carrying amounts and fair values

The estimated carrying amounts and fair values of the Company’s recorded financial instruments not carried at fair market value are as follows:



	As of December 31, 2019				As of December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In millions)
Liabilities:
Long-term debt, including current portion ^(a)	$	6,858	$	6,957	$	6,043	$	5,943

^(a) Excludes net debt issuance costs, which are recorded as a reduction to long-term debt on the Company's consolidated balance sheets.

Level within fair value hierarchy

The following table presents the level within the fair value hierarchy for long-term debt, including current portion as of December 31, 2019 and 2018:



	As of December 31, 2019				As of December 31, 2018
	Level 2		Level 3		Level 2		Level 3
	(In millions)
Long-term debt, including current portion	$	1,736	$	5,221	$	1,620	$	4,323

Assets and liabilities measured and recorded at fair value

The following table presents assets and liabilities measured and recorded at fair value on the Company's consolidated balance sheets on a recurring basis and their level within the fair value hierarchy:



	As of December 31, 2019		As of December 31, 2019		As of December 31, 2018
	Fair Value ^(a)		Fair Value ^(a)		Fair Value ^(a)
(In millions)	Level 2		Level 3		Level 2
Derivative assets:
Interest rate contracts	—		—		11
Total assets	$	—	$	—	$	11
Derivative liabilities:
Commodity contracts ^(b)	$	—	$	9	$	—
Interest rate contracts	83		—		21
Total liabilities	$	83	$	9	$	21

^(a)There were no derivative assets or liabilities classified as Level 1 December 31, 2019 and 2018.

The following table reconciles the beginning and ending balances for instruments that are recognized at fair value in the condensed consolidated financial statements using significant unobservable inputs:



	Twelve months ended December 31,
	2019			2018
(In millions)	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
Beginning balance	$	—		$	—
Total losses for the period included in earnings	(3		)	—
Purchases	(6		)	—
Ending balance	$	(9	)	$	—

The following tables quantify the significant unobservable inputs used in developing the fair value of the Company's Level 3 positions as of December 31, 2019:

December 31, 2019

Fair Value

Input/Range

Assets

Liabilities

Valuation Technique

Significant Unobservable Input

Low

High

Weighted Average

(In millions)

Power Contracts

—

)

Discounted Cash Flow

Forward Market Price (per MWh)

The following table provides sensitivity of fair value measurements to increases/(decreases) in significant unobservable inputs as of December 31, 2019:



Significant Observable Input	Position	Change In Input	Impact on Fair Value Measurement
Forward Market Price Power	Buy	Increase/(Decrease)	Higher/(Lower)
Forward Market Price Power	Sell	Increase/(Decrease)	Lower/(Higher)

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Revenues
Total operating revenues	$ 1,032	$ 1,053	$ 1,009
Operating Costs and Expenses
Cost of operations	342	332	326
Depreciation and amortization	396	331	334
Impairment losses	33	0	44
General and administrative	29	20	19
Transaction and integration costs	3	20	3
Development costs	5	3	0
Total operating costs and expenses	808	706	726
Operating Income	224	347	283
Other Income (Expense)
Equity in earnings of unconsolidated affiliates	83	74	71
Other income, net	9	8	4
Loss on debt extinguishment	(16)	(7)	(3)
Interest expense	(404)	(306)	(307)
Total other expense, net	(328)	(231)	(235)
Income before income taxes	(104)	116	48
Income tax (benefit) expense	(8)	62	72
Net (Loss) Income	(96)	54	(24)
Less: Pre-acquisition net income of Drop Down Assets	0	4	7
Net (Loss) Income Excluding Pre-acquisition Net Income (Loss) of Drop Down Assets	(96)	50	(31)
Less: Net (loss) income attributable to noncontrolling interests	(85)	2	(15)
Net Income (Loss) Attributable to Clearway Energy, Inc.	$ (11)	$ 48	$ (16)
Common Class A
Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
Weighted average number of common shares outstanding — basic and diluted	35	35	35
(Loss) Earnings per weighted average common share — basic and diluted (in dollars per share)	$ (0.10)	$ 0.46	$ (0.16)
Dividends per common share (in dollars per share)	$ 0.80	$ 1.258	$ 1.098
Common Class C
Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
Weighted average number of common shares outstanding — basic and diluted	74	69	64
(Loss) Earnings per weighted average common share — basic and diluted (in dollars per share)	$ (0.10)	$ 0.46	$ (0.16)
Dividends per common share (in dollars per share)	$ 0.80	$ 1.258	$ 1.098

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 155	$ 407
Restricted cash	262	176
Accounts receivable — trade	116	104
Accounts receivable — affiliates	2	0
Inventory	40	40
Prepayments and other current assets	33	29
Total current assets	608	756
Property, plant and equipment, net
Property, plant and equipment, net	6,063	5,245
Other Assets
Equity investments in affiliates	1,183	1,172
Intangible assets, net	1,428	1,156
Derivative instruments	0	8
Right-of-use assets, net	223
Deferred income taxes	92	57
Other non-current assets	103	106
Total other assets	3,029	2,499
Total Assets	9,700	8,500
Current Liabilities
Current portion of long-term debt	1,824	535
Accounts payable — trade	74	45
Accounts payable — affiliate	31	19
Derivative instruments	16	4
Accrued interest expense	41	44
Accrued expenses and other current liabilities	71	57
Total current liabilities	2,057	704
Other Liabilities
Long-term debt	4,956	5,447
Derivative instruments	76	17
Long-term lease liabilities	227
Other non-current liabilities	121	108
Total non-current liabilities	5,380	5,572
Total Liabilities	7,437	6,276
Commitments and Contingencies
Stockholders' Equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued	0	0
Class A, Class B, Class C and Class D common stock, $0.01 par value; 3,000,000,000 shares authorized (Class A 500,000,000, Class B 500,000,000, Class C 1,000,000,000, Class D 1,000,000,000); 198,819,999 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 78,742,854, Class D 42,738,750) at December 31, 2019 and 193,251,396 shares issued and outstanding (Class A 34,586,250, Class B 42,738,750, Class C 73,187,646, Class D 42,738,750) at December 31, 2018	1	1
Additional paid-in capital	1,936	1,897
Accumulated deficit	(72)	(58)
Accumulated other comprehensive loss	(15)	(18)
Noncontrolling interest	413	402
Total Stockholders' Equity	2,263	2,224
Total Liabilities and Stockholders' Equity	$ 9,700	$ 8,500

Investments Accounted for by the Equity Method and Variable Interest Entities - Equity Method Investments (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Total operating revenue	$ 235	$ 296	$ 284	$ 217	$ 229	$ 292	$ 307	$ 225	$ 1,032	$ 1,053	$ 1,009
Operating income	6	90	87	41	54	100	144	49	224	347	283
Net loss	(48)	$ 35	$ (36)	$ (47)	(91)	$ 49	$ 96	$ 0	(96)	54	(24)
Current assets	608				756				608	756
Current liabilities	2,057				704				2,057	704
Non-current liabilities	5,380				5,572				5,380	5,572
GCE Holding LLC
Schedule of Equity Method Investments [Line Items]
Total operating revenue									60	65	71
Operating income									27	32	36
Net loss									17	22	26
Current assets	37				43				37	43
Non-current assets	342				358				342	358
Current liabilities	16				22				16	22
Non-current liabilities	176				182				176	182
Desert Sunlight
Schedule of Equity Method Investments [Line Items]
Total operating revenue									205	208	207
Operating income									123	129	127
Net loss									58	84	80
Current assets	209				133				209	133
Non-current assets	1,296				1,298				1,296	1,298
Current liabilities	545				58				545	58
Non-current liabilities	484				962				484	962
NRG DGPV Holdco
Schedule of Equity Method Investments [Line Items]
Total operating revenue									77	69	37
Operating income									25	23	7
Net loss									(14)	11	(3)
Current assets	84				79				84	79
Non-current assets	898				784				898	784
Current liabilities	42				84				42	84
Non-current liabilities	411				314				411	314
Redeemable Noncontrolling Interest	(1)				0				(1)	0
Investments, Other
Schedule of Equity Method Investments [Line Items]
Total operating revenue									241	263	263
Operating income									85	103	92
Net loss									64	75	$ 59
Current assets	195				150				195	150
Non-current assets	2,514				2,684				2,514	2,684
Current liabilities	767				59				767	59
Non-current liabilities	$ 89				$ 897				$ 89	$ 897

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net (loss) income attributable to Clearway Energy, Inc.	$ (6)	$ 39	$ (24)	$ (20)	$ (68)	$ 21	$ 79	$ 16
Common Class A
Numerator:
Net (loss) income attributable to Clearway Energy, Inc.									$ (4)	$ 16	$ (6)
Denominator:
Weighted average number of common shares outstanding — basic and diluted (in shares)									35	35	35
Basic and diluted loss per share:
(Loss) Earnings per weighted average common share — basic and diluted (in dollars per share)									$ (0.10)	$ 0.46	$ (0.16)
Common Class C
Numerator:
Net (loss) income attributable to Clearway Energy, Inc.									$ (7)	$ 32	$ (10)
Denominator:
Weighted average number of common shares outstanding — basic and diluted (in shares)									74	69	64
Basic and diluted loss per share:
(Loss) Earnings per weighted average common share — basic and diluted (in dollars per share)	$ (0.06)	$ (0.36)	$ (0.22)	$ (0.18)					$ (0.10)	$ 0.46	$ (0.16)
3.5% Convertible Notes due 2019 \| Common Class A
Basic and diluted loss per share:
Diluted earnings per share									0	9	15
3.25% Convertible Notes due 2020 \| Common Class C
Basic and diluted loss per share:
Diluted earnings per share									2	8	10

Consolidated Statements of Stockholders Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest	Tax Equity Investors	Tax Equity Investors Noncontrolling Interest	CEG	CEG Noncontrolling Interest
Beginning balance, Total Stockholders' Equity at Dec. 31, 2016	$ 2,624	$ 1	$ 1,879	$ (2)	$ (28)	$ 774
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(31)			(16)		(15)
Pre-acquisition net income of Acquired Drop Down Assets	7					7
Unrealized (loss) gain on derivatives, net of tax	10					10
Payment for Drop Down Assets	(250)					(250)
Drop Down Assets contingent consideration	(8)					(8)
Distributions and returns of capital to CEG, NRG, net of contributions, cash	(21)					(21)
Contributions from CEG, NRG, net of distributions, non-cash	(2)					(2)
Contributions from tax equity interests, net of distributions, cash	11					11
Stock-based compensation	2		2
Proceeds from the issuance of Class C Common Stock	34		34
Non-cash adjustment for change in tax basis	(20)		(20)
Common stock dividends	(202)		(52)	(56)		(94)
Ending balance, Total Stockholders' Equity at Dec. 31, 2017	2,159	1	1,843	(69)	(28)	412
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	50			48		2
Pre-acquisition net income of Acquired Drop Down Assets	4					4
Unrealized (loss) gain on derivatives, net of tax	22				10	12
Payment for Drop Down Assets	(52)		1			(53)
Drop Down Assets contingent consideration	(3)		(3)
Distributions and returns of capital to CEG, NRG, net of contributions, cash	(11)					(11)
Contributions from CEG, NRG, net of distributions, non-cash	38					38
Contributions from tax equity interests, net of distributions, cash	106					106
Stock-based compensation	3		4	(1)
Proceeds from the issuance of Class C Common Stock	153		153
Non-cash adjustment for change in tax basis	(7)		(7)
Common stock dividends	(238)		(94)	(36)		(108)
Ending balance, Total Stockholders' Equity at Dec. 31, 2018	2,224	1	1,897	(58)	(18)	402
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(96)			(11)		(85)
Unrealized (loss) gain on derivatives, net of tax	7				3	4
Payment for Drop Down Assets	(19)		5			(14)
Drop Down Assets contingent consideration	(35)					(35)
Distributions and returns of capital to CEG, NRG, net of contributions, cash	(68)					(68)
Contributions from CEG, NRG, net of distributions, non-cash									$ 36	$ 36
Contributions from tax equity interests, net of distributions, cash							$ 242	$ 242
Stock-based compensation	2		3	(1)
Proceeds from the issuance of Class C Common Stock	100		100
Non-cash adjustment for change in tax basis	28		28
Common stock dividends	(155)		(87)			(68)
Ending balance, Total Stockholders' Equity at Dec. 31, 2019	$ 2,263	$ 1	$ 1,936	$ (72)	$ (15)	$ 413

Asset Impairments (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
Asset Impairments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses					$ 33	$ 0	$ 44
Elbow Creek
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses			$ 26
Forward
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses			$ 5
November 2017 Drop Down Assets
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses				$ 13
Property, Plant and Equipment \| November 2017 Drop Down Assets
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses				8
Finite-Lived Intangible Assets \| November 2017 Drop Down Assets
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses				$ 5
Thermal
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses		$ 19
Renewables
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses	$ 14

Related Party Transactions (Details) $ in Millions		1 Months Ended	4 Months Ended		8 Months Ended	12 Months Ended
Related Party Transactions (Details) $ in Millions	Jun. 19, 2018 USD ($)	Jan. 31, 2019 USD ($)	Dec. 31, 2019 USD ($) kpph MW ton	Dec. 31, 2018 USD ($)	Aug. 31, 2018 USD ($)	Dec. 31, 2019 USD ($) kpph MW ton	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jan. 29, 2019 MW
Related Party Transaction
General and administrative						$ 29	$ 20	$ 19
GCE Holding LLC \| Operations and Maintenance services
Related Party Transaction
Incurred expenses for transactions with related party								5
RENOM
Related Party Transaction
Incurred expenses for transactions with related party			$ 11		$ 29	31		23
Due to related party			7	$ 6		7	6
CEG
Related Party Transaction
Due to related party			$ 1			1
NRG
Related Party Transaction
Intercompany revenue					8		$ 12
NRG \| Operations and Maintenance services
Related Party Transaction
Incurred expenses for transactions with related party					27			39
Affiliated Entity \| Administrative Services Agreements
Related Party Transaction
Incurred expenses for transactions with related party				$ 3	6	$ 7		6
Thermal
Related Party Transaction
Steam and chilled water capacity, megawatts thermal equivalent \| MW			1,530			1,530
Power generation gapacity, megawatts \| MW			139			139
Thermal \| NRG
Related Party Transaction
Incurred expenses for transactions with related party					7			9
GCE Holding LLC \| NRG \| Operations and Maintenance services
Related Party Transaction
Incurred expenses for transactions with related party					4
Marsh Landing
Related Party Transaction
Steam and chilled water capacity, megawatts thermal equivalent \| MW									720
Marsh Landing \| NRG
Related Party Transaction
Incurred expenses for transactions with related party					11			15
NRG Yield \| NRG
Related Party Transaction
General and administrative					7			$ 10
UPMC Thermal \| Thermal
Related Party Transaction
Steam and chilled water capacity, megawatts thermal equivalent \| MW			73			73
Steam Energy \| kpph			150			150
Chilled Water Capacity \| ton			6,750			6,750
Power generation gapacity, megawatts \| MW			7.5			7.5
UPMC Thermal
Related Party Transaction
Related party transaction term	20 years
Cash considerations	$ 84	$ 3
Management Service, Base \| PML \| NRG
Related Party Transaction
Total Emissions Credit Purchases					$ 11

Acquisitions and Dispositions (Details) $ in Millions												1 Months Ended		12 Months Ended
Acquisitions and Dispositions (Details) $ in Millions	Dec. 06, 2019 USD ($) MW	Oct. 08, 2019 USD ($) MW	Sep. 05, 2019 MW	May 01, 2019 USD ($) MW	Jun. 19, 2018 USD ($)	May 31, 2018 USD ($)	Apr. 18, 2018 USD ($) MW	Mar. 31, 2018 USD ($)	Nov. 02, 2017 USD ($)	Jul. 31, 2017 USD ($)	Mar. 27, 2017 USD ($) MW	Jan. 31, 2020 USD ($)	Jan. 31, 2019 USD ($)	Dec. 31, 2019 USD ($) MW	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Mar. 30, 2018 USD ($) MW	Nov. 01, 2017 USD ($) MW	Aug. 01, 2017	Nov. 03, 2015
Business Acquisition [Line Items]
Ownership interest acquired																	100.00%
Long-term debt															$ 6,044
Proceeds from noncontrolling interests														$ 174	91	$ 13
Energy Center Dover
Business Acquisition [Line Items]
Sale of assets, percentage of ownership interest sold			100.00%
Carlsbad Drop Down
Business Acquisition [Line Items]
Ownership interest acquired	100.00%
Power purchase agreement period	20 years
UPMC thermal project cash considerations	$ 184
Long-term debt	$ 803
Central CA Fuel Cell 1
Business Acquisition [Line Items]
Power purchase agreement period							20 years
UPMC thermal project cash considerations							$ 11
Buckthorn Solar Drop Down Asset
Business Acquisition [Line Items]
Power generation gapacity, megawatts \| MW																	154
UPMC thermal project cash considerations								$ 42
Non-controlling interest								$ 19
UPMC Thermal
Business Acquisition [Line Items]
UPMC thermal project cash considerations					$ 84								$ 3
August 2017 Drop Down Assets
Business Acquisition [Line Items]
Ownership interest acquired																			25.00%	75.00%
Percentage of net assets recorded as noncontrolling interest																				25.00%
UPMC thermal project cash considerations										$ 44
Contingent consideration										8
Net assets acquired										$ 87
November 2017 Drop Down Assets
Business Acquisition [Line Items]
Power generation gapacity, megawatts \| MW																		38
UPMC thermal project cash considerations									$ 74
Long-term debt		$ 23																$ 26
Duquesne University District Energy System
Business Acquisition [Line Items]
Power generation gapacity, megawatts \| MW				82
Power purchase agreement period				40 years
UPMC thermal project cash considerations				$ 107
Payments to acquire businesses, gross				100
Long-term debt				95
Restricted cash and future capital expenditures				7
Restricted cash				3
Future Capital Expenditures				$ 4
HSD Solar Holdings, LLC
Business Acquisition [Line Items]
Power generation gapacity, megawatts \| MW		6
UPMC thermal project cash considerations		$ 20
Sale of assets, percentage of ownership interest sold		100.00%
Buckthorn Solar, due 2025
Business Acquisition [Line Items]
Long-term debt						$ 132								$ 129	132
Buckthorn Solar, due 2025 \| Buckthorn Solar Drop Down Asset
Business Acquisition [Line Items]
Long-term debt																	$ 183
Agua Caliente Borrower 2
Business Acquisition [Line Items]
Power generation gapacity, megawatts \| MW											46
Power purchase agreement period											25 years
Ownership percentage														16.00%
Percentage of NRG's ownership											31.00%
August 2017 Drop Down Assets
Business Acquisition [Line Items]
Percentage of ownership										25.00%
Utah Portfolio
Business Acquisition [Line Items]
Ownership percentage														50.00%
Remaining power purchase agreement term											20 years
March 2017 Drop Down Assets
Business Acquisition [Line Items]
UPMC thermal project cash considerations											$ 128
Historical value											$ 8
Buckthorn Solar Drop Down Asset
Business Acquisition [Line Items]
Proceeds from noncontrolling interests						$ 80
NRG
Business Acquisition [Line Items]
Ownership interest acquired								100.00%
Accounts payable, related parties															$ 4
Percentage of NRG's ownership										25.00%
NRG \| Agua Caliente Borrower 2
Business Acquisition [Line Items]
Percentage of ownership											51.00%
Thermal
Business Acquisition [Line Items]
Power generation gapacity, megawatts \| MW														139
Steam and chilled water capacity, megawatts thermal equivalent \| MW														1,530
Thermal \| Central CA Fuel Cell 1
Business Acquisition [Line Items]
Power generation gapacity, megawatts \| MW							2.8
Thermal \| UPMC Thermal
Business Acquisition [Line Items]
Power generation gapacity, megawatts \| MW														7.5
Steam and chilled water capacity, megawatts thermal equivalent \| MW														73
Natural Gas \| Energy Center Dover
Business Acquisition [Line Items]
Power generation gapacity, megawatts \| MW			103
Natural Gas \| Carlsbad Drop Down
Business Acquisition [Line Items]
Power generation gapacity, megawatts \| MW	527
Subsequent Event \| UPMC Thermal
Business Acquisition [Line Items]
UPMC thermal project cash considerations												$ 1

Accounting for Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Accounting for derivative instruments and hedging activities

Accounting for Derivative Instruments and Hedging Activities

ASC 815 requires the Company to recognize all derivative instruments on the balance sheet as either assets or liabilities and to measure them at fair value each reporting period unless they qualify for a NPNS exception. The Company may elect to designate certain derivatives as cash flow hedges, if certain conditions are met, and defer the change in fair value of the derivatives to accumulated OCI/OCL, until the hedged transactions occur and are recognized in earnings. For derivatives that are not designated as cash flow hedges or do not qualify for hedge accounting treatment, the changes in the fair value will be immediately recognized in earnings. Certain derivative instruments may qualify for the NPNS exception and are therefore exempt from fair value accounting treatment. ASC 815 applies to the Company's energy related commodity contracts and interest rate swaps.

Energy-Related Commodities

To manage the commodity price risk associated with its competitive supply activities and the price risk associated with wholesale power sales, the Company may enter into derivative hedging instruments, namely, forward contracts that commit the Company to sell energy commodities or purchase fuels/electricity in the future. The objectives for entering into derivatives contracts designated as hedges include fixing the price for a portion of anticipated future electricity sales and fixing the price of a portion of anticipated fuel/electricity purchases for the operation of its subsidiaries. As of December 31, 2019, the Company had forward contracts for the sale of electricity from renewable energy assets through 2029, forward contracts for the purchase of fuel commodities relating to the forecasted usage of the Company’s district energy centers extending through 2021, and electricity contracts to supply retail power to the Company's district energy centers extending through 2020. At December 31, 2019, these contracts were not designated as cash flow or fair value hedges.

Also, as of December 31, 2019, the Company had other energy-related contracts that did not meet the definition of a derivative instrument or qualified for the NPNS exception and were therefore exempt from fair value accounting treatment as follows:


•	Power purchase agreements through 2043, and


•	Natural gas transportation contracts through 2028.

Interest Rate Swaps

The Company is exposed to changes in interest rates through the issuance of variable rate debt. In order to manage interest rate risk, it enters into interest rate swap agreements.

As of December 31, 2019, the Company had interest rate derivative instruments on non-recourse debt extending through 2041, a portion of which are designated as cash flow hedges.

Volumetric Underlying Derivative Transactions

The following table summarizes the net notional volume buy/(sell) of the Company's open derivative transactions broken out by commodity as of December 31, 2019 and 2018:



		Total Volume
		December 31, 2019			December 31, 2018
Commodity	Units	(In millions)
Natural Gas	MMBtu	2			1
Power	MWh	(2		)	—
Interest	Dollars	$	1,788		$	1,862

Fair Value of Derivative Instruments

The following table summarizes the fair value within the derivative instrument valuation on the balance sheet:



	Fair Value
	Derivative Assets^(a)		Derivative Liabilities
	December 31, 2018		December 31, 2019		December 31, 2018
	(In millions)
Derivatives Designated as Cash Flow Hedges:
Interest rate contracts current	$	2	$	3	$	1
Interest rate contracts long-term	3		11		6
Total Derivatives Designated as Cash Flow Hedges	5		14		7
Derivatives Not Designated as Cash Flow Hedges:
Interest rate contracts current	1		13		3
Interest rate contracts long-term	5		56		11
Commodity contracts long-term	—		9		—
Total Derivatives Not Designated as Cash Flow Hedges	6		78		14
Total Derivatives	$	11	$	92	$	21

^(a) Derivative Asset balances classified as current are included within the prepayments and other current assets line item of the Consolidated Balance Sheet.

The Company has elected to present derivative assets and liabilities on the balance sheet on a trade-by-trade basis and does not offset amounts at the counterparty master agreement level. As of December 31, 2019 and 2018, there was no outstanding collateral paid or received. As of December 31, 2018, the commodity balances were not material. The following tables summarize the offsetting of derivatives by counterparty master agreement level:



	Gross Amounts Not Offset in the Statement of Financial Position
As of December 31, 2019	Gross Amounts of Recognized Assets/Liabilities			Derivative Instruments			Net Amount
Commodity contracts:	(In millions)
Derivative liabilities	(9		)	(1		)	(10		)
Total commodity contracts	(9		)	(1		)	(10		)
Interest rate contracts:
Derivative liabilities	(83		)	1			(82		)
Total interest rate contracts	(83		)	1			(82		)
Total derivative instruments	$	(92	)	$	—		$	(92	)



	Gross Amounts Not Offset in the Statement of Financial Position
As of December 31, 2018	Gross Amounts of Recognized Assets/Liabilities			Derivative Instruments			Net Amount
Interest rate contracts:
Derivative assets	11			(1		)	10
Derivative liabilities	(21		)	1			(20		)
Total interest rate contracts	(10		)	—			(10		)
Total derivative instruments	$	(10	)	$	—		$	(10	)

Accumulated Other Comprehensive Loss

The following table summarizes the effects on the Company’s accumulated OCL balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax:



	Year ended December 31,
	2019			2018			2017
	(In millions)
Accumulated OCL beginning balance	$	(38	)	$	(60	)	$	(70	)
Reclassified from accumulated OCL to income due to realization of previously deferred amounts	16			14			10
Mark-to-market of cash flow hedge accounting contracts	(9		)	8			—
Accumulated OCL ending balance, net of income tax benefit of $6, $7 and $9, respectively	$	(31	)	$	(38	)	$	(60	)
Accumulated OCL attributable to noncontrolling interests	(16		)	(20		)	(32		)
Accumulated OCL attributable to Clearway Energy, Inc.	$	(15	)	$	(18	)	$	(28	)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $3	$	(7	)

Amounts reclassified from accumulated OCL into income are recorded to interest expense.

The Company's regression analysis for Marsh Landing, Walnut Creek and Avra Valley interest rate swaps, while positively correlated, no longer contain matching terms for cash flow hedge accounting. As a result, the Company voluntarily de-designated the Marsh Landing, Walnut Creek and Avra Valley cash flow hedges as of April 28, 2017, and marks these derivatives to market through the statement of operations.

Impact of Derivative Instruments on the Statements of Income

The Company has interest rate derivative instruments that are not designated as cash flow hedges. The effect of interest rate hedges is recorded to interest expense. For the years ended December 31, 2019, 2018 and 2017 the impact to the consolidated statements of income was a loss of $65 million, a gain of $15 million and a gain of $6 million, respectively.

During the year ended December 31, 2019, Elbow Creek entered into a new long-term power hedge, and the impact to the Company's consolidated statement of operations was a $9 million loss for the period recorded in total operating revenues.

A portion of the Company’s derivative commodity contracts relates to its Thermal Business for the purchase of fuel/electricity commodities based on the forecasted usage of the thermal district energy centers. Realized gains and losses on these contracts are reflected in the costs that are permitted to be billed to customers through the related customer contracts or tariffs and, accordingly, no gains or losses are reflected in the consolidated statements of operations for these contracts.

See Item 15 — Note 6, Fair Value of Financial Instruments, for a discussion regarding concentration of credit risk.

Intangible Assets - Components Subject to Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance		$ 1,464
Acquisition of Carlsbad Energy Center	$ 358
Net carrying amount ending balance		1,464
Less accumulated amortization	(394)	(308)
Ending balance	1,428	1,156
Supply Commitment Arrangement
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	1,630	1,280
Acquisition of Carlsbad Energy Center	350
Net carrying amount ending balance	1,630	1,280
Less accumulated amortization	(347)	(269)
Ending balance	1,283	1,011
Leasehold Rights
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	86	86
Net carrying amount ending balance	86	86
Less accumulated amortization	(22)	(18)
Ending balance	64	68
Customer Relationships
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	66	66
Net carrying amount ending balance	66	66
Less accumulated amortization	(9)	(7)
Ending balance	57	59
Customer Contracts
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	15	15
Net carrying amount ending balance	15	15
Less accumulated amortization	(10)	(9)
Ending balance	5	6
Emission Allowances
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance		9
Acquisition of Carlsbad Energy Center	8
Net carrying amount ending balance		9
Less accumulated amortization	(2)	(2)
Ending balance	15	7
Other Intangible Assets
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	8	8
Net carrying amount ending balance	8	8
Less accumulated amortization	(4)	(3)
Ending balance	$ 4	$ 5

Leases - Revenue Related to Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Lease revenue	$ 864	$ 878
Energy revenue
Disaggregation of Revenue [Line Items]
Lease revenue	516	541
Energy revenue \| Conventional Generation
Disaggregation of Revenue [Line Items]
Lease revenue	5	5
Energy revenue \| Renewables
Disaggregation of Revenue [Line Items]
Lease revenue	509	534
Energy revenue \| Thermal
Disaggregation of Revenue [Line Items]
Lease revenue	2	2
Capacity revenue
Disaggregation of Revenue [Line Items]
Lease revenue	348	337
Capacity revenue \| Conventional Generation
Disaggregation of Revenue [Line Items]
Lease revenue	348	337
Capacity revenue \| Renewables
Disaggregation of Revenue [Line Items]
Lease revenue	0	0
Capacity revenue \| Thermal
Disaggregation of Revenue [Line Items]
Lease revenue	0	0
Operating Revenues
Disaggregation of Revenue [Line Items]
Lease revenue	864	878
Operating Revenues \| Conventional Generation
Disaggregation of Revenue [Line Items]
Lease revenue	353	342
Operating Revenues \| Renewables
Disaggregation of Revenue [Line Items]
Lease revenue	509	534
Operating Revenues \| Thermal
Disaggregation of Revenue [Line Items]
Lease revenue	$ 2	$ 2

Schedule I - Condensed Financial Information of Registrant - B/S Parenthetical (Details) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Par value - preferred stock (in usd per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Par value - common stock (in usd per share)	$ 0.01
Common stock, shares authorized (in shares)	3,000,000,000	3,000,000,000
Common stock, shares issued (in shares)	198,819,999	193,251,396
Common stock, shares outstanding (in shares)	198,819,999	193,251,396
Common Class A
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	34,599,645	34,586,250
Common stock, shares outstanding (in shares)	34,599,645	34,586,250
Common Class B
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	42,738,750	42,738,750
Common stock, shares outstanding (in shares)	42,738,750	42,738,750
Common Class C
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	78,742,854	73,187,646
Common stock, shares outstanding (in shares)	78,742,854	73,187,646
Common Class D
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	42,738,750	42,738,750
Common stock, shares outstanding (in shares)	42,738,750	42,738,750
Clearway Energy, Inc.
Condensed Financial Statements, Captions [Line Items]
Par value - preferred stock (in usd per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Common stock, shares authorized (in shares)	3,000,000,000	3,000,000,000
Common stock, shares issued (in shares)	198,819,999	193,251,396
Common stock, shares outstanding (in shares)	198,819,999	193,251,396
Clearway Energy, Inc. \| Common Class A
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	34,599,645	34,586,250
Clearway Energy, Inc. \| Common Class B
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	42,738,750	42,738,750
Clearway Energy, Inc. \| Common Class C
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	78,742,854	73,187,646
Clearway Energy, Inc. \| Common Class D
Condensed Financial Statements, Captions [Line Items]
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	42,738,750	42,738,750

Leases - Lease Cost (Details) $ in Millions	12 Months Ended
Leases - Lease Cost (Details) $ in Millions	Dec. 31, 2019 USD ($)
Leases [Abstract]
Operating lease cost	$ 13
Variable lease cost	8
Total lease cost	21
ASSETS
Right-of-use assets, net	223
Liabilities [Abstract]
Short-term lease liability - operating leases	7
Long-term lease liabilities	227
Total lease liability - operating leases	234
Cash paid for operating leases	$ 15
Weighted average remaining lease term	25 years
Weighted average discount rate	4.40%

Investments Accounted for by the Equity Method and Variable Interest Entities - Additional Information (Details) $ in Millions										3 Months Ended	12 Months Ended
	Feb. 07, 2020 USD ($)	Dec. 22, 2019 USD ($)	Nov. 26, 2019 USD ($)	Nov. 12, 2019 USD ($)	Aug. 31, 2018 USD ($) MW	May 31, 2018 USD ($)	Mar. 31, 2018 USD ($)	Mar. 27, 2017 MW	Jun. 30, 2015 USD ($)	Dec. 31, 2019 USD ($) lease generatingunit MW	Dec. 31, 2019 USD ($) lease generatingunit MW	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 27, 2019 USD ($)	Jun. 14, 2019 USD ($)	May 07, 2019 USD ($)	Mar. 08, 2019 USD ($)	Aug. 30, 2018	Mar. 30, 2018 MW	Oct. 12, 2017 USD ($)	Mar. 31, 2017
Schedule of Equity Method Investments [Line Items]
Depreciation											$ 395	$ 330
Equity investments in affiliates										$ 1,183	1,183	1,172
Retained earnings, undistributed earnings from equity method investees										138	138	87
Non-recourse debt										889	889
Noncontrolling interest										$ 413	$ 413	402
Percentage of cash available for distributions										95.00%	95.00%
Net contributions from noncontrolling interests											$ 174	91	$ 13
Loss attributable to noncontrolling interests											$ 85	(2)	$ 15
Ownership interest acquired																			100.00%
Long-term debt												6,044
Repowering Partnership II LLC
Schedule of Equity Method Investments [Line Items]
Depreciation										$ 54
Utah Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage										50.00%	50.00%
Equity investments in affiliates										$ 285	$ 285
Business acquisition, consideration transferred, working capital										$ 106	$ 106
Percentage of cash available for distributions										50.00%	50.00%
Desert Sunlight
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage										25.00%	25.00%
Equity investments in affiliates										$ 274	$ 274
Payments to acquire equity method investments									$ 285
Business acquisition, consideration transferred, working capital									$ 171
GCE Holding LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage										50.00%	50.00%
Equity investments in affiliates										$ 94	$ 94
Agua Caliente Borrower 2
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage										16.00%	16.00%
Equity investments in affiliates										$ 96	$ 96
Power generation gapacity, megawatts \| MW								46
Power purchase agreement period								25 years
Elkhorn Ridge Wind, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage										66.70%	66.70%
Equity investments in affiliates										$ 48	$ 48
San Juan Mesa Wind Project, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage										75.00%	75.00%
Equity investments in affiliates										$ 49	$ 49
DGPV Holdco 1 LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage										95.00%	95.00%
Equity investments in affiliates										$ 81	$ 81
Power generation gapacity, megawatts \| MW										52	52
Remaining lease term											16 years
DGPV Holdco 2 LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage										95.00%	95.00%
Equity investments in affiliates										$ 68	$ 68
Remaining lease term											19 years
DGPV Holdco 3 LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage										99.00%	99.00%
Equity investments in affiliates										$ 169	$ 169
Power generation gapacity, megawatts \| MW										112	112
Remaining lease term											21 years
Due to related parties										$ 14	$ 14
RPV Holdco 1 LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage										95.00%	95.00%
Equity investments in affiliates										$ 24	$ 24
Avenal
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage										50.00%	50.00%
Equity investments in affiliates										$ (5)	$ (5)
NRG DGPV Holdco
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates										318	318
PG&E
Schedule of Equity Method Investments [Line Items]
Pro-rate share of debt held by unconsolidated affiliates										$ 411	411
Kawailoa Solar Holdings LLC
Schedule of Equity Method Investments [Line Items]
Non-controlling interest		$ 61												$ 7
Loss attributable to noncontrolling interests											14
Oahu Solar Partnership
Schedule of Equity Method Investments [Line Items]
Loss attributable to noncontrolling interests											$ (32)
Oahu Solar, Lanikuhana
Schedule of Equity Method Investments [Line Items]
Power generation gapacity, megawatts \| MW					15
Power purchase agreement period					22 years
Oahu Solar, Waipio
Schedule of Equity Method Investments [Line Items]
Power generation gapacity, megawatts \| MW					46
Repowering Partnership LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage																		21.00%
Elbow TE Holdco
Schedule of Equity Method Investments [Line Items]
Cash considerations			$ 4
Kawailoa Partnership
Schedule of Equity Method Investments [Line Items]
Payments to acquire businesses, gross					$ 9
Power generation gapacity, megawatts \| MW					49
Power purchase agreement period					22 years
Capital contribution, percent																20.00%
Non-controlling interest																$ 2
Outstanding debt at time of acquisition																120
Noncontrolling interest																$ 21
Buckthorn Solar Drop Down Asset
Schedule of Equity Method Investments [Line Items]
Power generation gapacity, megawatts \| MW																			154
Non-controlling interest							$ 19
Cash considerations							$ 42
Zephyr Oahu Partnership LLC
Schedule of Equity Method Investments [Line Items]
Capital contribution, percent																	20.00%
Non-controlling interest																	$ 4
Outstanding debt at time of acquisition																	143
Zephyr Oahu Partnership LLC \| Oahu Solar Partnership
Schedule of Equity Method Investments [Line Items]
Payments to acquire businesses, gross					$ 20
Financial Institutions \| November 2015 Drop Down Assets
Schedule of Equity Method Investments [Line Items]
Taxable income allocation, pre-flip										99.00%	99.00%
Ownership interest acquired										100.00%	100.00%
Cash considerations											$ 19
Wind TE Holdco \| Repowering Partnership II LLC
Schedule of Equity Method Investments [Line Items]
Income allocation percentage			59.63%
CWSP Wildorado Elbow Holding LLC \| Repowering Partnership II LLC
Schedule of Equity Method Investments [Line Items]
Income allocation percentage			40.37%
Buckthorn Solar Drop Down Asset
Schedule of Equity Method Investments [Line Items]
Net contributions from noncontrolling interests						$ 80
Loss attributable to noncontrolling interests											$ (25)
Alta X and XI TE Holdco \| Financial Institutions
Schedule of Equity Method Investments [Line Items]
Taxable income allocation, pre-flip										99.00%	99.00%
Taxable income allocation, post-flip										5.00%	5.00%
NRG
Schedule of Equity Method Investments [Line Items]
Ownership interest acquired							100.00%
NRG \| Agua Caliente Borrower 2
Schedule of Equity Method Investments [Line Items]
Percentage of ownership								51.00%
Buckthorn Renewables, LLC \| Buckthorn Solar Portfolio, LLC
Schedule of Equity Method Investments [Line Items]
Percentage of ownership							100.00%
Tax Equity Investors \| Oahu Solar Partnership
Schedule of Equity Method Investments [Line Items]
Net contributions from noncontrolling interests				$ 71
Tax Equity Investors \| Zephyr Oahu Partnership LLC
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest																	$ 18
Second Year through Flip Point \| Alta X and XI TE Holdco
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions										94.34%	94.34%
Post-Flip Point \| Alta X and XI TE Holdco
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions										97.12%	97.12%
Post-Flip Point \| Spring Canyon
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions										95.00%	95.00%
Post-Flip Point \| Spring Canyon \| Financial Institutions
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions										5.00%	5.00%
Pre-determined Date Through Flip Point If Flip Has Not Occured \| Alta X and XI TE Holdco \| Financial Institutions
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions										100.00%	100.00%
Pre-Flip Point \| Spring Canyon
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions										65.19%	65.19%
Pre-Flip Point \| Spring Canyon \| Financial Institutions
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions										34.81%	34.81%
Wind Farms \| Spring Canyon
Schedule of Equity Method Investments [Line Items]
Ownership interest acquired										90.10%	90.10%
Wind Farms \| Spring Canyon II
Schedule of Equity Method Investments [Line Items]
Power generation gapacity, megawatts \| MW										32	32
Wind Farms \| Spring Canyon III
Schedule of Equity Method Investments [Line Items]
Power generation gapacity, megawatts \| MW										28	28
Capital Unit, Class A \| Utah Portfolio
Schedule of Equity Method Investments [Line Items]
Percentage of ownership																					100.00%
Capital Unit, Class B \| Financial Institutions \| Utah Portfolio
Schedule of Equity Method Investments [Line Items]
Taxable income allocation, pre-flip										99.00%	99.00%
Taxable income allocation, post-flip										50.00%	50.00%
Capital Unit, Class B \| Buckthorn Solar Portfolio, LLC \| Buckthorn Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Percentage of ownership							100.00%
Tax Equity Financed Portfolio of Leases - Commercial PV 1 \| DGPV Holdco 2 LLC
Schedule of Equity Method Investments [Line Items]
Power generation gapacity, megawatts \| MW										113	113
Tax Equity Financed Portfolio of Leases \| RPV Holdco 1 LLC
Schedule of Equity Method Investments [Line Items]
Power generation gapacity, megawatts \| MW										31	31
Number of solar leases in portfolio \| generatingunit										5,300	5,300
Existing Portfolio of Leases \| RPV Holdco 1 LLC
Schedule of Equity Method Investments [Line Items]
Power generation gapacity, megawatts \| MW										14	14
Remaining lease term											13 years
Number of solar leases in portfolio \| lease										2,200	2,200
Maximum \| Tax Equity Financed Portfolio of Leases \| DGPV Holdco 1 LLC
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates										$ 100	$ 100
Maximum \| Tax Equity Financed Portfolio of Leases \| DGPV Holdco 2 LLC
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates																				$ 60
Maximum \| Tax Equity Financed Portfolio of Leases \| DGPV Holdco 3 LLC
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates										$ 70	$ 70
Maximum \| Tax Equity Financed Portfolio of Leases \| RPV Holdco 1 LLC
Schedule of Equity Method Investments [Line Items]
Remaining lease term											15 years
Kawailoa Partnership \| Kawailoa Solar Project
Schedule of Equity Method Investments [Line Items]
Ownership interest											51.00%
Third Party Investor \| Kawailoa Solar Project
Schedule of Equity Method Investments [Line Items]
Ownership interest											49.00%
Third Party Investor \| Capital Unit, Class A \| Elbow TE Holdco
Schedule of Equity Method Investments [Line Items]
Ownership interest acquired			100.00%
Membership interest			$ 89
Wind Global LLC \| Wind Farms
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest, ownership percentage by noncontrolling owners										9.90%	9.90%
ITC Bridge Loan \| Kawailoa Solar Holdings LLC
Schedule of Equity Method Investments [Line Items]
Repayments of debt		57
ITC Bridge Loan \| Oahu Solar Partnership
Schedule of Equity Method Investments [Line Items]
Repayments of debt				$ 67
Term Debt \| Kawailoa Solar Holdings LLC
Schedule of Equity Method Investments [Line Items]
Proceeds from debt		$ 5
Repowering Partnership Holdco LLC, due 2020
Schedule of Equity Method Investments [Line Items]
Repayments of debt			93
Outstanding debt at time of acquisition															$ 352
Long-term debt										$ 228	$ 228	$ 0
Repowering Partnership Holdco LLC, due 2020 \| Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Debt instrument, face amount										$ 352	$ 352
Construction Loan
Schedule of Equity Method Investments [Line Items]
Long-term debt			$ 93
Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions										5.00%	5.00%
Affiliated Entity \| Clearway Renew LLC \| Oahu Solar Partnership
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest										$ 16	$ 16
Percentage of ownership										80.00%	80.00%
Subsequent Event \| Wildorado Holdco LLC
Schedule of Equity Method Investments [Line Items]
Cash considerations	$ 112
Subsequent Event \| Third Party Investor \| Wildorado Holdco LLC
Schedule of Equity Method Investments [Line Items]
Cash considerations	$ 148
Subsequent Event \| Third Party Investor \| Capital Unit, Class A \| Wildorado Holdco LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest acquired	100.00%
Subsequent Event \| Repowering Partnership Holdco LLC, due 2020
Schedule of Equity Method Investments [Line Items]
Repayments of debt	$ 260

Long-term Debt (Details) - USD ($)														1 Months Ended			12 Months Ended
Long-term Debt (Details) - USD ($)	Feb. 07, 2020	Dec. 23, 2019	Dec. 06, 2019	Nov. 26, 2019	Oct. 21, 2019	Jun. 14, 2019	May 07, 2019	Apr. 29, 2019	Oct. 10, 2018	Oct. 02, 2018	May 31, 2018	Apr. 30, 2018	Apr. 28, 2018	Oct. 31, 2019	Jan. 31, 2019	Aug. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Feb. 24, 2020	Jan. 03, 2020	Dec. 11, 2019	Nov. 13, 2019	May 01, 2019	Mar. 08, 2019	Feb. 01, 2019	Oct. 01, 2018	Sep. 30, 2018	Mar. 30, 2018
Debt Instrument [Line Items]
Loss on debt extinguishment																	$ 16,000,000	$ 7,000,000	$ 3,000,000
Long-term debt																		$ 6,044,000,000
Combined basis on effective rates																	5.10%	5.00%
Proceeds from the revolving credit facility																	$ 152,000,000	$ 35,000,000	$ 55,000,000
Interest expense																	2,000,000	19,000,000
Debt discount amortization																	1,000,000	9,000,000
Debt issuance costs amortization																	0	3,000,000
Interest expense at effective rate																	3,000,000	31,000,000
Non-recourse debt																	$ 889,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate												2.50%	1.75%				1.75%
Debt covenant leverage ratio																	1.75%
Increase in leverage ratio																	0.50
Long-term line of credit																	$ 152,000,000
Outstanding borrowings																	0
Long-term debt																	$ 0	0
4.75% Senior Notes due 2028
Debt Instrument [Line Items]
Due to affiliate, noncurrent																						$ 600,000,000
Interest rate, percentage																	4.75%					4.75%
5.375% Senior Notes due in 2024
Debt Instrument [Line Items]
Interest rate, percentage																	5.375%
Debt instrument, repurchased face amount																	$ 412,000,000
Percent of face value																	82.40%
Debt instrument, redemption price, percentage																	103.00%
Debt instrument, repurchase amount																	$ 424,000,000
Loss on debt extinguishment																	(12,000,000)
Loss on extinguishment of deferred financing fees																	$ 2,000,000
5.75% Senior Notes due 2025
Debt Instrument [Line Items]
Interest rate, percentage																	5.75%										5.75%
Borrowings from revolving credit facility										$ 600,000,000
3.25% Convertible Notes due 2020
Debt Instrument [Line Items]
Interest rate, percentage																	3.25%
Percent of face value																	99.55%
Loss on debt extinguishment																	$ 7,000,000
Long-term debt																	$ 45,000,000	45,000,000
Conversion price																	$ 27.50
Conversion ratio																	36.3636
Value of equity component																	$ 23,000,000
Aggregate principal amount repurchased									$ 243,000,000
Total market value																	44,000,000
Conversion value of convertible debt																	$ 32,000,000
3.5% Convertible Notes due 2019
Debt Instrument [Line Items]
Interest rate, percentage																	3.50%
Long-term debt																	$ 0	220,000,000								$ 170,000,000
Aggregate principal amount repurchased									$ 109,000,000						$ 50,000,000	$ 16,000,000
Intercompany Credit Agreement due 2019
Debt Instrument [Line Items]
Aggregate principal amount repurchased																$ 16,000,000
PG&E
Debt Instrument [Line Items]
Long-term debt																	1,200,000,000
Carlsbad Energy Holdings LLC, due 2027
Debt Instrument [Line Items]
Basis spread on variable rate			1.75%
Letters of credit outstanding																	87,000,000
Due to affiliate, noncurrent																	175,000,000
Interest rate, percentage			4.12%
Long-term debt			$ 194,000,000														582,000,000	0
Aggregate principal amount repurchased																	87,000,000
Bridge credit agreement, borrowing amount			$ 407,000,000														$ 83,000,000
Outstanding notional amount			0.50%
Working Capital Loan Facility
Debt Instrument [Line Items]
Bridge credit agreement, borrowing amount			$ 4,000,000
Agua Caliente Borrower 2
Debt Instrument [Line Items]
Interest rate, percentage																	5.43%
Long-term debt																	$ 0	39,000,000
Repowering Partnership Holdco LLC, due 2020
Debt Instrument [Line Items]
Basis spread on variable rate																	0.85%
Long-term debt																	$ 228,000,000	0
Aggregate principal amount repurchased				$ 93,000,000
Outstanding debt at time of acquisition						$ 352,000,000
Duquesne Due 2059
Debt Instrument [Line Items]
Interest rate, percentage																	462.00%
Long-term debt																	$ 95,000,000	0
Oahu Solar Holdings LLC Debt
Debt Instrument [Line Items]
Outstanding debt at time of acquisition																							$ 162,000,000
Oahu Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Basis spread on variable rate																	1.375%
Long-term debt																	$ 91,000,000	0					$ 90,000,000
Aggregate principal amount repurchased														$ 67,000,000
Kawailoa Solar Holdings LLC Debt
Debt Instrument [Line Items]
Outstanding debt at time of acquisition		$ 137,000,000
Kawailoa Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Basis spread on variable rate																	1.375%
Long-term debt																	$ 82,000,000	0
Aggregate principal amount repurchased		57,000,000
South Trent Wind Due 2028
Debt Instrument [Line Items]
Basis spread on variable rate																	1.35%
Long-term debt																	$ 43,000,000	50,000,000
Tapestry Wind LLC due in 2031
Debt Instrument [Line Items]
Basis spread on variable rate																	1.375%
Long-term debt																	$ 156,000,000	151,000,000
Thermal
Debt Instrument [Line Items]
Bridge credit agreement, borrowing amount																	$ 40,000,000
Buckthorn Solar Drop Down Asset
Debt Instrument [Line Items]
Basis spread on variable rate																	1.75%
Buckthorn Solar, due 2025
Debt Instrument [Line Items]
Basis spread on variable rate																	1.75%
Long-term debt											$ 132,000,000						$ 129,000,000	$ 132,000,000
Aggregate principal amount repurchased											$ 80,000,000
Letter of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding																	70,000,000
Letter of Credit \| Agua Caliente Borrower 2
Debt Instrument [Line Items]
Letters of credit outstanding																	14,000,000
Letter of Credit \| Repowering Partnership Holdco LLC, due 2020
Debt Instrument [Line Items]
Letters of credit outstanding																	4,000,000
Letter of Credit \| Duquesne Due 2059
Debt Instrument [Line Items]
Interest rate, percentage																								4.62%
Debt instrument, face amount																								$ 95,000,000
Letter of Credit \| Oahu Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Letters of credit outstanding																	17,000,000
Letter of Credit \| Kawailoa Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Letters of credit outstanding																	13,000,000
Letter of Credit \| South Trent Wind Due 2028
Debt Instrument [Line Items]
Letters of credit outstanding																	12,000,000
Debt instrument, face amount						46,000,000
Letter of Credit \| Tapestry Wind LLC due in 2021
Debt Instrument [Line Items]
Long-term debt								$ 147,000,000
Letter of Credit \| Tapestry Wind LLC due in 2031
Debt Instrument [Line Items]
Letters of credit outstanding																	18,000,000
Debt instrument, face amount								$ 164,000,000
Letter of Credit \| Buckthorn Solar, due 2025
Debt Instrument [Line Items]
Letters of credit outstanding																	$ 26,000,000
Subsequent Event \| Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding borrowings																				$ 170,000,000
Subsequent Event \| 5.375% Senior Notes due in 2024
Debt Instrument [Line Items]
Debt instrument, repurchased face amount																					$ 88,000,000
Subsequent Event \| Repowering Partnership Holdco LLC, due 2020
Debt Instrument [Line Items]
Aggregate principal amount repurchased	$ 260,000,000
Subsequent Event \| Letter of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding																				$ 69,000,000
Common Class C
Debt Instrument [Line Items]
Common stock closing price																	$ 19.95
Carlsbad Drop Down
Debt Instrument [Line Items]
Long-term debt			803,000,000
Carlsbad Drop Down \| Carlsbad Energy Holdings LLC, due 2027
Debt Instrument [Line Items]
Due to affiliate, noncurrent			$ 216,000,000
Interest rate, percentage			4.21%
Borrowings from revolving credit facility			$ 803,000,000
Aggregate principal amount repurchased			$ 5,000,000
Debt instrument, convertible, remaining discount amortization period			19 years
Bridge credit agreement, borrowing amount			$ 10,000,000
Outstanding notional amount			0.65%
Buckthorn Solar Drop Down Asset \| Buckthorn Solar Drop Down Asset
Debt Instrument [Line Items]
Outstanding notional amount																												80.00%
Buckthorn Solar Drop Down Asset \| Buckthorn Solar, due 2025
Debt Instrument [Line Items]
Long-term debt																													$ 183,000,000
Zephyr Oahu Partnership LLC
Debt Instrument [Line Items]
Outstanding debt at time of acquisition																									$ 143,000,000
Kawailoa Partnership
Debt Instrument [Line Items]
Outstanding debt at time of acquisition							$ 120,000,000
Kawailoa Partnership \| Letter of Credit \| South Trent Wind LLC Due 2020
Debt Instrument [Line Items]
Long-term debt						49,000,000
Kawailoa Solar Holdings LLC, due 2026 \| Kawailoa Solar Holdings LLC Debt
Debt Instrument [Line Items]
Long-term debt		$ 82,000,000
Loans Payable \| Agua Caliente Borrower 2
Debt Instrument [Line Items]
Repayments of related party debt					$ 40,000,000
Loans Payable \| Repowering Partnership Holdco LLC, due 2020
Debt Instrument [Line Items]
Repayments of related party debt						$ 109,000,000
London Interbank Offered Rate (LIBOR) \| Letter of Credit \| South Trent Wind Due 2028
Debt Instrument [Line Items]
Basis spread on variable rate						1.35%
London Interbank Offered Rate (LIBOR) \| Letter of Credit \| Tapestry Wind LLC due in 2021
Debt Instrument [Line Items]
Basis spread on variable rate								1.75%
London Interbank Offered Rate (LIBOR) \| Letter of Credit \| Tapestry Wind LLC due in 2031
Debt Instrument [Line Items]
Basis spread on variable rate								1.375%
London Interbank Offered Rate (LIBOR) \| Zephyr Oahu Partnership LLC \| Oahu Solar Holdings LLC Debt
Debt Instrument [Line Items]
Derivative, basis spread on variable rate																									1.375%
London Interbank Offered Rate (LIBOR) \| Kawailoa Partnership \| Kawailoa Solar Holdings LLC Debt
Debt Instrument [Line Items]
Basis spread on variable rate							1.375%
London Interbank Offered Rate (LIBOR) \| Kawailoa Partnership \| Letter of Credit \| South Trent Wind LLC Due 2020
Debt Instrument [Line Items]
Basis spread on variable rate						1.625%
London Interbank Offered Rate (LIBOR) \| Loans Payable \| Repowering Partnership Holdco LLC, due 2020
Debt Instrument [Line Items]
Basis spread on variable rate						0.85%
Maturity - February 25, 2025 \| Carlsbad Energy Holdings LLC, due 2027
Debt Instrument [Line Items]
Basis spread on variable rate			1.625%
Maturity - October 31, 2038 \| Carlsbad Energy Holdings LLC, due 2027
Debt Instrument [Line Items]
Basis spread on variable rate			1.875%

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Gas and Transportation Commitments

The Company has entered into contractual arrangements to procure power, fuel and associated transportation services. For the years ended December 31, 2019, 2018 and 2017, the Company purchased $38 million, $39 million and $34 million, respectively, under such arrangements. As further described in Note 15, Related Party Transactions, these purchases include intercompany transactions through August 31, 2018 between certain Thermal entities and NRG Power Marketing under the Energy Marketing Services Agreements in the amount of $7 million for the eight months ended August 31, 2018 and $9 million during the year ended December 31, 2017.

As of December 31, 2019, the Company's commitments under such outstanding agreements are estimated as follows:



Period	(In millions)
2020	$	9
2021	3
2022	3
2023	3
2024	3
Thereafter	10
Total	$	31

Contingencies

The Company's material legal proceedings are described below. The Company believes that it has valid defenses to these legal proceedings and intends to defend them vigorously. The Company records reserves for estimated losses from contingencies when information available indicates that a loss is probable and the amount of the loss, or range of loss, can be reasonably estimated. As applicable, the Company has established an adequate reserve for the matters discussed below. In addition, legal costs are expensed as incurred. Management assesses such matters based on current information and makes a judgment concerning its potential outcome, considering the nature of the claim, the amount and nature of damages sought and the probability of success. The Company is unable to predict the outcome of the legal proceedings below or reasonably estimate the scope or amount of any associated costs and potential liabilities. As additional information becomes available, management adjusts its assessment and estimates of such contingencies accordingly. Because litigation is subject to inherent uncertainties and unfavorable rulings or developments, it is possible that the ultimate resolution of the Company's liabilities and contingencies could be at amounts that are different from its currently recorded reserves and that such difference could be material.

In addition to the legal proceedings noted below, the Company and its subsidiaries are party to other litigation or legal proceedings arising in the ordinary course of business. In management's opinion, the disposition of these ordinary course matters will not materially adversely affect the Company's consolidated financial position, results of operations, or cash flows.

Nebraska Public Power District Litigation

On January 11, 2019, Nebraska Public Power District, or NPPD, sent written notice to certain of the Company’s subsidiaries which own the Laredo Ridge and Elkhorn Ridge wind projects alleging an event of default under each of the PPAs

between NPPD and the projects. NPPD alleges that the Company moved forward with certain transactions without obtaining the consent of NPPD. NPPD threatened to terminate the applicable PPAs by February 11, 2019 if the alleged default was not cured. The Company filed a motion for a temporary restraining order and preliminary injunction in the U.S. District Court for the District of Nebraska relating to the Laredo Ridge project, and a similar motion in the District Court of Knox County, Nebraska for the Elkhorn Ridge project, to enjoin NPPD from taking any actions related to the PPAs. On February 19, 2019, the U.S. District Court in the Laredo Ridge matter approved a stipulation between the parties to provide for an injunction preventing NPPD from terminating the PPA pending disposition of the litigation. On February 26, 2019, the Knox County District Court approved a similar stipulation relating to the Elkhorn Ridge project. Additionally, Elkhorn Ridge was added as a third-party defendant to the litigation in the U.S. District Court. On September 23, 2019, NPPD filed amended complaints in the U.S. District Court, to which Laredo Ridge and Elkhorn Ridge responded on October 7, 2019. A motion for summary judgment was filed by the Company on December 19, 2019, which was opposed by NPPD on February 12, 2020. Judicial review is pending. The Company believes the allegations of NPPD are meritless and the Company is vigorously defending its rights under the PPAs.

Buckthorn Solar Litigation

On October 8, 2019, the City of Georgetown, Texas, or Georgetown, filed a petition in the District Court of Williamson County, Texas naming Buckthorn Westex, LLC, the Company’s subsidiary that owns the Buckthorn Westex solar project, as the defendant, alleging fraud by nondisclosure and breach of contract in connection with the project and the PPA, and seeking (i) rescission and/or cancellation of the PPA, (ii) declaratory judgment that the alleged breaches constitute an event of default under the PPA entitling Georgetown to terminate, and (iii) recovery of all damages, costs of court, and attorneys’ fees. On November 15, 2019, Buckthorn Westex filed an original answer and counterclaims (i) denying Georgetown’s claims, (ii) alleging Georgetown has breached its contracts with Buckthorn Westex by failing to pay amounts due, and (iii) seeking relief in the form of (x) declaratory judgment that Georgetown’s alleged failure to pay amounts due constitute breaches of and an event of default under the PPA and that Buckthorn did not commit any events of default under the PPA, (y) recovery of costs, expenses, interest, and attorneys’ fees, and (z) such other relief to which it is entitled at law or in equity. Buckthorn Westex believes the allegations of Georgetown are meritless, and Buckthorn Westex is vigorously defending its rights under the PPA.

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease, Cost

Lease expense for the year ended December 31, 2019 was comprised of the following:



(In millions)
Operating lease cost	$	13
Variable lease cost	8
Total lease cost	$	21

Operating lease information as of December 31, 2019 was as follows:



(In millions, except term and rate)
ROU Assets - operating leases, net	$	223

Short-term lease liability - operating leases ^(a)	7
Long-term lease liability - operating leases	227
Total lease liability	$	234

Cash paid for operating leases	$	15
Weighted average remaining lease term	25
Weighted average discount rate	4.4%

^(a) Short-term lease liability balances are included within the accrued expenses and other current liabilities line item of the consolidated balance sheets as of December 31, 2019.

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of December 31, 2019 are as follows:



(In millions)
2020	$	16
2021	16
2022	16
2023	15
2024	16
Thereafter	303
Total lease payments	382
Less imputed interest	(148		)
Total lease liability - operating leases	$	234

Future Minimum Lease Commitments Under Operating Leases

Maturities of operating lease liabilities as of December 31, 2018 under the ASC 840 were as follows:



(In millions)
2019	13
2020	13
2021	13
2022	13
2023	12
Thereafter	207
Total lease payments	$	271

Energy and Capacity Revenue

The following amounts of energy and capacity revenue are related to the Company’s leases:



Period ended December 31, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	5	$	509	$	2	$	516
Capacity revenue	348		—		—		348
Operating revenue	$	353	$	509	$	2	$	864



Period ended December 31, 2018
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	5	$	534	$	2	$	541
Capacity revenue	337		—		—		337
Operating revenue	$	342	$	534	$	2	$	878

Minimum Future Rent Payments Under the Operating Leases

Minimum future rent payments for the remaining periods relate to the Conventional segment and were as follows as of December 31, 2019:



(In millions)
2020	439
2021	444
2022	450
2023	259
2024	106
Thereafter	1,605
Total lease payments	$	3,303

Property, plant and equipment, net related to the Company’s operating leases were as follows as of December 31, 2019:



(In millions)
Property, plant and equipment	$	6,942
Accumulated depreciation	(1,649		)
Net property, plant and equipment	$	5,293

Property, Plant, and Equipment Net

Minimum future rent payments for the remaining periods relate to the Conventional segment and were as follows as of December 31, 2019:



(In millions)
2020	439
2021	444
2022	450
2023	259
2024	106
Thereafter	1,605
Total lease payments	$	3,303

Property, plant and equipment, net related to the Company’s operating leases were as follows as of December 31, 2019:



(In millions)
Property, plant and equipment	$	6,942
Accumulated depreciation	(1,649		)
Net property, plant and equipment	$	5,293

Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 73	$ 71	$ 71
Contract amortization expense	72	$ 70	$ 70
Future amortization expense, next twelve months	90
Future amortization expense, year two	90
Future amortization expense, year three	90
Future amortization expense, year four	87
Future amortization expense, year five	$ 84

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In addition to the transactions and relationships described elsewhere in the notes to the consolidated financial statements, certain subsidiaries of CEG provide services to the Company's project entities. Amounts due to CEG subsidiaries are recorded as accounts payable - affiliate and amounts due to the Company from CEG subsidiaries are recorded as accounts receivable - affiliate in the Company's balance sheet. The disclosures below summarize the Company's material related party transactions with CEG and its subsidiaries that are included in the Company's operating revenues and operating costs. As discussed in Item 15 — Note 1, Nature of Business, on August 31, 2018, NRG sold 100% of its interest in CEG to GIP, and as a result, CEG and its subsidiaries are considered related parties during the year ended December 31, 2019, and NRG and its subsidiaries were considered related parties during the first eight months of the year ended December 31, 2018. Related Party Transactions with CEG entities O&M Services Agreements by and between the Company and Clearway Renewable Operation & Maintenance LLC Various wholly-owned subsidiaries of the Company in the Renewables segment are party to administrative services agreements with Clearway Renewable Operation & Maintenance LLC (formerly NRG Renew Operation & Maintenance LLC), or RENOM, a wholly-owned subsidiary of CEG, which provides operation and maintenance, or O&M, services to these subsidiaries. The Company incurred total expenses for these services of $31 million for the year ended December 31, 2019. The Company incurred total expenses of $11 million for the period from September 1, 2018 to December 31, 2018. There was a balance of $7 million and $6 million due to RENOM as of December 31, 2019 and 2018, respectively. Administrative Services Agreements by and between the Company and CEG Various wholly-owned subsidiaries of the Company are parties to administrative services agreements with Clearway Asset Services (formerly NRG Asset Services) and Clearway Solar Asset Management (formerly NRG Solar Asset Management), two wholly-owned subsidiaries of CEG, which provide various administrative services to the Company's subsidiaries. The Company incurred expenses under these agreements of $7 million for the year ended December 31, 2019. The Company incurred expenses under these agreements of $3 million for the period from September 1, 2018 to December 31, 2018. CEG Master Services Agreements Following the consummation of the GIP Transaction, Clearway Energy, Inc. along with Clearway Energy LLC and Clearway Energy Operating LLC entered into Master Services Agreements with CEG, pursuant to which CEG and certain of its affiliates or third party service providers began providing certain services to the Company, including operational and administrative services, which include human resources, information systems, external affairs, accounting, procurement and risk management services, and the Company began providing certain services to CEG, including accounting, internal audit, tax and treasury services, in exchange for the payment of fees in respect of such services. There was a balance of $1 million in accounts payable — affiliate due to CEG under the Master Services Agreement as of December 31, 2019, which was paid in January 2020. Related Party Transactions with NRG entities prior to the GIP Transaction The following transactions relate to the period prior to sale of NRG's interest in CEG to GIP on August 31, 2018 and therefore were considered to be related party transactions for all the periods prior to August 31, 2018: O&M Services Agreements by and between the Company and NRG Renew Operation & Maintenance LLC Various wholly-owned subsidiaries of the Company in the Renewables segment were party to administrative services agreements with NRG Renew Operation & Maintenance LLC, or RENOM, formerly wholly-owned subsidiary of NRG, which provided O&M, services to these subsidiaries. The Company incurred total expenses for these services of $29 million for the eight months ended August 31, 2018. The Company incurred total expenses of $23 million for the year ended December 31, 2017. Administrative Services Agreements by and between the Company and NRG Various wholly-owned subsidiaries of the Company were parties to administrative services agreements with Clearway Asset Services (formerly NRG Asset Services) and Clearway Solar Asset Management (formerly NRG Solar Asset Management), two wholly-owned subsidiaries of CEG, which provided various administrative asset services to the Company's subsidiaries prior to GIP Transaction. The Company reimbursed costs under this agreement of $6 million for the eight months ended August 31, 2018. The Company reimbursed costs under this agreement of $6 million for the year ended December 31, 2017. Power Purchase Agreements (PPAs) between the Company and NRG Power Marketing Elbow Creek and Dover were parties to PPAs with NRG Power Marketing and generate revenue under the PPAs, which were recorded to operating revenues in the Company's consolidated statements of operations. For the eight months ended August 31, 2018, Elbow Creek and Dover, collectively, generated revenues of $8 million. For the year ended December 31, 2017, Elbow Creek and Dover, collectively, generated revenues of $12 million. Energy Marketing Services Agreement by and between Thermal entities and NRG Power Marketing Energy Center Dover LLC, Energy Center Minneapolis, Energy Center Phoenix LLC and Energy Center Paxton LLC, or Thermal entities, are parties to Energy Marketing Services Agreements with NRG Power Marketing, a wholly-owned subsidiary of NRG. Under the agreements, NRG Power Marketing procures fuel and fuel transportation for the operation of Thermal entities. For the eight months ended August 31, 2018, the Thermal entities purchased $7 million of natural gas from NRG Power Marketing. The Thermal entities purchased a total of $9 million of natural gas during the year ended December 31, 2017. Operation and Maintenance (O&M) Services Agreements by and between the Company's subsidiaries and NRG Certain of the Company's subsidiaries are party to O&M Services Agreements with NRG, pursuant to which NRG subsidiaries provide necessary and appropriate services to operate and maintain the subsidiaries' plant operations, businesses and thermal facilities. NRG is reimbursed for the provided services, as well as for all reasonable and related expenses and expenditures, and payments to third parties for services and materials rendered to or on behalf of the parties to the agreements. NRG is not entitled to any management fee or mark-up under the agreements. The fees incurred under these agreements were $27 million for the eight months ended August 31, 2018 and $39 million for the year ended December 31, 2017. O&M Services Agreements by and between GenConn and NRG GenConn incurs fees under two O&M agreements with wholly-owned subsidiaries of NRG. For the eight months ended August 31, 2018, the aggregate fees incurred under the agreements were $4 million. The fees incurred under the agreements were $5 million for the year ended December 31, 2017. Administrative Services Agreement by and between Marsh Landing and NRG West Coast LLC Marsh Landing is a party to an administrative services agreement with NRG West Coast LLC, a wholly owned subsidiary of NRG. The Company reimbursed costs under this agreement of $11 million for the eight months ended August 31, 2018. The Company reimbursed costs under this agreement of approximately $15 million for the year ended December 31, 2017. Project Administrative Services Agreement by and between ESEC and NRG West Coast LLC During 2018, ESEC, NRG West Coast LLC and NRG Power Marketing LLC, or PML, entered into confirmation agreements under the Project Administration Services Agreement between ESEC and NRG West Coast LLC, whereby PML purchased California Carbon Allowances which ESEC could subsequently purchase for the purposes of ESEC’s compliance with the California Cap-and-Trade Program. ESEC reimbursed costs under these agreements of $11 million for the eight months ended August 31, 2018. Management Services Agreement by and between the Company and NRG Prior to the GIP Transaction, NRG provided the Company with various operational, management, and administrative services, which include human resources, accounting, tax, legal, information systems, treasury and risk management, as set forth in the Management Services Agreement. Costs incurred under this agreement were $7 million for the eight months ended August 31, 2018. Costs incurred under this agreement were approximately $10 million for the year ended December 31, 2017. The costs incurred under the Management Services Agreement included certain direct expenses incurred by NRG on behalf of the Company in addition to the base management fee. On August 31, 2018, in connection with the consummation of the GIP Transaction, the Company entered into a Termination Agreement with Clearway Energy LLC, Clearway Energy Operating LLC and NRG terminating the Management Services Agreement, dated as of July 22, 2013, by and among the Company, Clearway Energy LLC, Clearway Energy Operating LLC and NRG. Concurrently with entering into the Termination Agreement on August 31, 2018, the Company entered into a Transition Services Agreement with NRG, as further described in Item 15 — Note 1,Nature of Business. Subsequent to the GIP Transaction, the Company entered into a Transition Services Agreement with NRG, or the NRG TSA, pursuant to which NRG or certain of its affiliates began providing transitional services to the Company following the consummation of the GIP Transaction, in exchange for the payment of a fee in respect of such services. Expenses related to the NRG TSA are recorded in acquisition-related transaction and integration costs in the consolidated statements of operations. EPC Agreement by and between ECP and NRG NRG Business Services LLC, a subsidiary of NRG, and Energy Center Pittsburgh LLC, or ECP, a wholly owned subsidiary of the Company, entered into an EPC agreement for the construction of a 73 MWt district energy system for ECP to provide 150 pph of steam, 6,750 tons of chilled water and 7.5 MW of emergency backup power service to UPMC Mercy. The initial term of the energy services agreement with UPMC Mercy will be for a period of twenty years from the service commencement date. On June 19, 2018, as discussed in Item 15 — Note 3, Acquisitions and Dispositions, ECP purchased the UPMC Thermal Project assets from NRG Business Services LLC for cash consideration of $84 million, subject to working capital adjustments. The Company paid an additional $3 million to NRG upon final completion of the project in January 2019 pursuant to the EPC agreement.

Acquisitions and Dispositions - Summary of Assets and Liabilities Transferred (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 06, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Net debt issuance costs	$ 78		$ 61
CBAD Holdings, LLC [Member]
Business Acquisition [Line Items]
Current assets		$ 36
Property, plant and equipment		572
Intangible assets, net		337
Other non-current assets		51
Total assets		996
Debt		791
Other current and non-current liabilities		56
Total liabilities		847
Net assets acquired		149
Net debt issuance costs		12
Contingent liability		$ 5

Fair Value of Financial Instruments - Balance Sheet Grouping (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt		$ 6,044
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	$ 6,957	5,943
Reported Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	6,858
Long-term debt, including current portion		6,043
Fair Value, Inputs, Level 2 \| Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	1,736	1,620
Fair Value, Inputs, Level 3 \| Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	$ 5,221	$ 4,323

Fair Value of Financial Instruments - Recurring Fair Value Measurements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		$ 11,000,000
Derivative liabilities	$ 92,000,000	21,000,000
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	11,000,000
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value	0	0
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	83,000,000	21,000,000
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	9,000,000
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	0	0
Total losses for the period included in earnings	(3,000,000)	0
Purchases	6,000,000	0
Ending balance	(9,000,000)	0
Interest Rate Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		11,000,000
Derivative liabilities	83,000,000	21,000,000
Interest Rate Contract \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	11,000,000
Derivative liabilities	83,000,000	21,000,000
Interest Rate Contract \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0
Derivative liabilities	0
Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	9,000,000
Commodity contracts \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	0	$ 0
Commodity contracts \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ 9,000,000

Nature of Business - Narrative (Details) $ in Millions	12 Months Ended
Nature of Business - Narrative (Details) $ in Millions	Dec. 31, 2019 USD ($) MW	Jan. 29, 2019 MW	Dec. 31, 2018 USD ($)	Aug. 31, 2018	Mar. 31, 2018	Mar. 30, 2018
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest acquired						100.00%
Weighted average remaining PPA term	13 years
Property, plant and equipment	$ 6,063.0		$ 5,245.0
Equity method investments	1,183.0		1,172.0
Long-term debt			$ 6,044.0
Transaction services agreement expense	1.5
Marsh Landing
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Steam and chilled water capacity, megawatts thermal equivalent \| MW		720
NRG
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest acquired					100.00%
PG&E
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Steam and chilled water capacity, megawatts thermal equivalent \| MW		480
Restricted cash	177.0
Property, plant and equipment	1,400.0
Equity method investments	$ 370.0
Clearway Energy, Inc. \| NRG
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest sold				100.00%
Clearway Energy LLC \| GIP
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest acquired				45.20%
Clearway Energy, Inc. \| GIP
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest acquired				55.00%
Conventional Generation, Utility-Scale Solar, Distributed Solar, and Wind
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Power generation gapacity, megawatts \| MW	5,875
Thermal
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Power generation gapacity, megawatts \| MW	139
Steam and chilled water capacity, megawatts thermal equivalent \| MW	1,530
Shareholders \| Clearway Energy LLC
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Limited liability company (LLC) or limited partnership (LP), members or limited partners, voting interest	45.05%
Limited liability company or limited partnership, members or limited partners, ownership interest	57.01%
GIP \| Clearway Energy LLC
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Limited liability company (LLC) or limited partnership (LP), members or limited partners, voting interest	54.95%
Limited liability company or limited partnership, members or limited partners, ownership interest	42.99%
CEG \| Clearway Energy LLC
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Limited liability company or limited partnership, members or limited partners, ownership interest	42.99%
Clearway Energy, Inc. \| Clearway Energy LLC
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Limited liability company or limited partnership, members or limited partners, ownership interest	57.01%
PG&E
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Long-term debt	$ 1,200.0

Accounting for Derivative Instruments and Hedging Activities - AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 2,263	$ 2,224	$ 2,159	$ 2,624
Mark-to-market of cash flow hedge accounting contracts	7	22	10
Accumulated other comprehensive loss	(15)	(18)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $3	(7)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(31)	(38)	(60)	(70)
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassified from accumulated OCL to income due to realization of previously deferred amounts	16	14	10
Mark-to-market of cash flow hedge accounting contracts	(9)	8	0
Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	413	402	412	774
Accumulated other comprehensive loss	(16)	(20)	(32)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(15)	(18)	(28)	$ (28)
Accumulated other comprehensive loss	$ (15)	$ (18)	$ (28)

Long-term Debt - Annual Maturities (Details) $ in Millions	Dec. 31, 2019 USD ($)
Debt Disclosure [Abstract]
2020	$ 1,832
2021	249
2022	478
2023	319
2024	129
Thereafter	3,851
Long-term debt, gross	$ 6,858

Long-term Debt

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Long-term Debt

The Company's borrowings, including short term and long term portions consisted of the following:



	December 31, 2019			December 31, 2018			Interest rate % ^(a)	Letters of Credit Outstanding at December 31, 2019
	(In millions, except rates)
2019 Convertible Notes	$	—		$	220		3.500
2020 Convertible Notes	45			45			3.250
2024 Senior Notes ^(b)	88			500			5.375
2025 Senior Notes	600			600			5.750
2026 Senior Notes	350			350			5.000
2028 Senior Notes	600			—			4.750
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2019 ^(c)	—			—			L+1.75	$	70
Project-level debt:
Agua Caliente Borrower 2, due 2038 ^(d)	—			39			5.430	14
Alpine, due 2022 ^(d)	119			127			L+2.00	16
Alta Wind I - V lease financing arrangements, due 2034 and 2035	844			886			5.696 - 7.015	45
Buckthorn Solar, due 2025	129			132			L+1.750	26
Carlsbad Holdco, due 2038	216			—			4.210	5
Carlsbad Energy Holdings LLC, due 2027	582			—			L +1.625/4.12	87
CVSR, due 2037 ^(d)	696			720			2.339 - 3.775	—
CVSR Holdco Notes, due 2037 ^(d)	182			188			4.680	13
Duquesne, due 2059	95			—			4.620
El Segundo Energy Center, due 2023	303			352			L+1.75 - L+2.375	138
Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037	328			328			various	—
Laredo Ridge, due 2028	84			89			L+2.125	10
Kansas South, due 2030 ^(d)	24			26			L+2.25	2
Kawailoa Solar Holdings LLC, due 2026	82			—			L+1.375	13
Marsh Landing, due 2023 ^(d)	206			263			L+2.125	27
Oahu Solar Holdings LLC, due 2026	91			—			L+1.375	17
Repowering Partnership Holdco LLC, due 2020	228			—			L+.85	4
South Trent Wind, due 2028	43			50			L+1.350	12
Tapestry, due 2031	156			151			L+1.375	18
Utah Solar Portfolio, due 2022	254			267			L+2.625	13
Viento, due 2023	42			146			L+2.00	14
Walnut Creek, due 2023	175			222			L+1.75	74
Other	296			343			various	24
Subtotal project-level debt	5,175			4,329
Total debt	6,858			6,044
Less current maturities	(1,824		)	(535		)
Less net debt issuance costs	(78		)	(61		)
Less discounts^(e)	—			(1		)
Total long-term debt	$	4,956		$	5,447

^(a) As of December 31, 2019, L+ equals 3 month LIBOR plus x%, except for Viento, due 2023 and Kansas South, due 2030; where L+ equals 6 month LIBOR plus 2.00% and Utah Solar Portfolio and Repowering Partnership Holdco LLC, where L+equals 1 month LIBOR plus x%

^(b) Repurchased in January 2020 as part of the 2024 Senior Notes Tender Offer, as further described below

^(c) Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement

^(d) Entities affected by PG&E Bankruptcy, see further discussion below

^(e)Discounts relate to the 2020 Convertible Notes

The financing arrangements listed above contain certain covenants, including financial covenants that the Company is required to be in compliance with during the term of the respective arrangement. As of December 31, 2019, the Company was in compliance with all of the required covenants.

Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility

On April 30, 2018, the Company closed on the refinancing of the revolving credit facility, which extended the maturity of the facility to April 28, 2023, and decreased the Company's overall cost of borrowing from L+2.50% to L+1.75%. The applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement, and was L+1.75% as of December 31, 2019. The facility will continue to be used for general corporate purposes including financing of future acquisitions and posting letters of credit.

On December 20, 2019, the Company entered into the Fifth Amendment to Amended and Restated Credit Agreement to provide for an increase of 0.50x to the borrower leverage ratio, as defined in the Amended and Restated Credit Agreement, for the last two fiscal quarters of 2020 and to implement certain other technical modifications.

The Company made borrowings in the amount $152 million during the year ended December 31, 2019 under the revolving credit facility in order to partially finance the Carlsbad Drop Down acquisition, as well as for general business purposes. As of December 31, 2019, there were no outstanding borrowings under the revolving credit facility and the Company had $70 million of letters of credit outstanding. The Company had $170 million outstanding under the revolving credit facility and a total of $69 million in letters of credit outstanding as of February 24, 2020.

2028 Senior Notes

On December 11, 2019, Clearway Energy Operating LLC completed the sale of $600 million aggregate principal amount of Senior Unsecured Notes due 2028, or the 2028 Senior Notes. The 2028 Senior Notes bear interest at 4.75% and mature on March 15, 2028. Interest on the 2028 Senior Notes is payable semi-annually on March 15 and September 15 of each year, and interest payments will commence on September 15, 2020. The 2028 Senior Notes are unsecured obligations of Clearway Energy Operating LLC and are guaranteed by Clearway Energy LLC and by certain of Clearway Energy Operating LLC's wholly owned current and future subsidiaries. The proceeds from the 2028 Senior Notes were partially used to repay the 2024 Senior Notes, as further described below.

2024 Senior Notes Tender Offer

On December 13, 2019, the Company repurchased an aggregate principal amount of $412 million or 82.4%, of the 2024 Senior Notes as part of the previously cash tender offer announced on December 11, 2019. Concurrently with the launch of the tender offer, the Company exercised its right to optionally redeem any 2024 Senior Notes not validly tendered and purchased in the tender offer, pursuant to the terms of the indenture governing the 2024 Senior Notes. The redemption of the Senior Notes due 2024 in December were effectuated at a premium of 103% for a total consideration of $424 million and as a result, the Company recorded a loss on extinguishment in the amount of $12 million. In addition, the Company recorded a $2 million debt extinguishment loss in connection with the write off of the deferred financing fees related to the 2024 Senior Notes. The redemption of the remaining $88 million of outstanding 2024 Senior Notes occurred on January 3, 2020.

2025 Senior Notes

On October 1, 2018, Clearway Energy Operating LLC issued $600 million of senior unsecured notes, or the 2025 Senior Notes. The 2025 Senior Notes bear interest at 5.750% and mature on October 15, 2025. Interest on the 2025 Senior Notes is payable semi-annually on April 15 and October 15 of each year. The 2025 Senior Notes are unsecured obligations of Clearway Energy Operating LLC and are guaranteed by Clearway Energy LLC and by certain of Clearway Energy Operating LLC's wholly owned current and future subsidiaries. The proceeds from the 2025 Senior Notes were partially used to repay the 2019 Convertible Notes.

2020 Convertible Senior Notes

The Company has outstanding $45 million aggregate principal amount of 3.25% Convertible Senior Notes due 2020, or the 2020 Convertible Notes. The 2020 Convertible Notes are convertible into cash at an initial conversion price of $27.50 per Class C common share, which is equivalent to a conversion rate of approximately 36.3636 shares of Class C common stock per $1,000 principal amount of notes. Interest on the 2020 Convertible Notes is payable semi-annually in arrears on June 1 and December 1 of each year. The 2020 Convertible Notes are convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The 2020 Convertible Notes are guaranteed by Clearway Energy Operating LLC and Clearway Energy LLC.

The Company separately accounts for the liability (debt) and equity (conversion option) components of the 2020 Convertible Notes and recognized $23 million as the value for the equity component in 2015 with the offset to debt discount. The debt discount is amortized to interest expense using the effective interest method through its maturity date of June 2020.

As a result of the tender offer effectuated on September 10, 2018, an aggregate principal amount of $243 million of the 2020 Convertible Notes were tendered on or prior to the expiration date of October 9, 2018 and accepted by the Company for purchase. The Company recorded a loss on extinguishment in the amount $7 million primarily related to the repurchase of the 2020 Convertible Notes.

As of December 31, 2019, the 2020 Convertible Notes were trading at approximately 99.55% of their face value, resulting in a total market value of $44 million. The actual conversion value of the 2020 Convertible Notes is based on the product of the conversion rate and the market price of the Company's Class C common stock, as defined in the 2020 Convertible Notes indenture. As of December 31, 2019, the Company's Class C common stock closed at $19.95 per share, resulting in a pro forma conversion value for the 2020 Convertible Notes of approximately $32 million.

2019 Convertible Notes

In August 2018, the Company repurchased an aggregate principal amount of $16 million of the 2019 Convertible Notes in open market transactions. The repurchases were funded through a partial repayment of the intercompany note between Clearway Energy Operating LLC and Clearway Energy, Inc., which was reduced by $16 million.

On September 10, 2018, pursuant to the tender offer, an aggregate principal amount of $109 million of the 2019 Convertible Notes were tendered on or prior to the expiration date of October 9, 2018 and accepted by the Company for purchase.

In January 2019, the Company repurchased an additional aggregate principal amount of $50 million of the 2019 Convertible Notes in open market transactions. The repurchase was funded through a partial repayment of the intercompany note between Clearway Energy Operating LLC and Clearway Energy, Inc., which was reduced by $50 million.

The 2019 Convertible Notes matured on February 1, 2019 and the Company paid off the remaining balance of an aggregate principal amount of $170 million.

During the years ended December 31, 2019 and 2018, the Company recorded the following expenses in relation to the 2020 and 2019 Convertible Notes on a combined basis at the effective rates of 5.10% and 5.00%, respectively:



(In millions)	December 31, 2019		December 31, 2018
Interest expense^(a)	$	2	$	19
Debt discount amortization	1		9
Debt issuance costs amortization	—		3
	$	3	$	31

^(a) Interest expense is calculated using coupon rate of 3.25% and 3.50% for 2020 and 2019 Convertible Notes, respectively.

Project level Debt

PG&E Bankruptcy

As discussed in Note 1, Nature of Business, on January 29, 2019, PG&E filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California, or the Bankruptcy Court. Certain subsidiaries of the Company are parties to financing agreements consisting of non-recourse project-level debt and, in certain cases, non-recourse holding company debt. The PG&E Bankruptcy triggered defaults under the PPAs with PG&E and such related project-level financing agreements. As a result, the Company recorded $1.2 billion of principal, net of the related unamortized debt issuance costs, as short-term debt as of December 31, 2019. In addition, distributions from these projects to Clearway Operating LLC are prohibited under the related debt agreements. As of March 2, 2020, the Company has entered into forbearance agreements for certain project-level financing arrangements and continues to seek forbearance agreements for its other project-level financing arrangements affected by the PG&E Bankruptcy. The Company continues to assess the potential future impacts of the PG&E Bankruptcy as events occur.

Carlsbad Drop Down Asset Debt

On December 6, 2019, as part of the Carlsbad Drop Down acquisition, as further described in Note 3, Acquisitions and Dispositions, the Company assumed $803 million of senior secured, non-recourse notes related to Carlsbad Holdco LLC and Carlsbad Energy Holding LLC. The Carlsbad Holdco LLC notes bear an interest rate of 4.21%, and are fully amortizing over 19 years. In addition, Carlsbad Holdco LLC is party to a letter of credit facility agreement with the issuing banks for an aggregate

principal amount not to exceed $10 million. Fees on the unused commitment are 0.65%. As of December 31, 2019, there were $5 million in letters of credit in support of the project issued and $216 million of notes were outstanding.

Carlsbad Energy Holdings LLC is party to a note payable agreement with financial institutions for the issuance of up to $407 million of senior secured notes that bear interest at a rate of 4.12%, and mature on October 31, 2038. Carlsbad Energy Holdings LLC is also party to a term loan agreement with issuing banks for an aggregate principal amount of $194 million at an issuance rate of LIBOR plus an applicable margin of 1.625% until February 25, 2022, 1.750% until February 25, 2025, and 1.875% until maturity. Fees on the unused commitment are 0.50%. upon completion of the project. The agreement also includes a letter of credit facility with an aggregate principal amount not to exceed $83 million, and a working capital loan facility with an aggregate principal amount not to exceed $4 million. As of December 31, 2019, $175 million was outstanding under the term loan and $87 million of letters of credit were issued.

Agua Caliente Borrower 2 Debt Repayment

On October 21, 2019, the Company, through Agua Caliente Borrower 2 LLC, repaid $40 million of the outstanding notes balance, including accrued interest and premiums, issued under the Agua Caliente Holdco Financing Agreement. The repayment was funded with Company's existing liquidity.

Repowering Partnership Holdco LLC, due 2020

On June 14, 2019, as part of the Repowering Partnership, the Company entered into a financing agreement for non-recourse debt for a total commitment amount of $352 million related to the construction for the repowering activities at Wildorado and Elbow Creek. The debt consists of a construction loan at an interest rate of LIBOR plus 0.85%. The Company borrowings were utilized to repay $109 million of the outstanding balance, including accrued interest, under the Viento financing agreement, to reimburse Clearway Renew LLC for previous contributions into the Repowering Partnership and pay construction invoices. On November 26, 2019, the construction loan of $93 million related to the repowering activities at Elbow Creek was repaid with the proceeds from the tax equity investor. On February 7, 2020 the construction loan of $260 million related to the repowering activities at Wildorado was repaid with the proceeds from the tax equity investor.

Duquesne University

On May 1, 2019, as part of the Duquesne University district energy system acquisition, ECP Uptown Campus LLC issued non-recourse debt of $95 million, excluding financing fees. The debt consists of senior notes at an interest rate of 4.62% that mature on May 1, 2059. Interest on the notes are payable semi-annually in arrears. The proceeds of the debt, along with cash on hand, were utilized to fund the purchase price of the acquisition.

Oahu Solar Holdings LLC

Due to the Company consolidating the Oahu Partnership, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities, the Company assumed non-recourse debt of $143 million related to Oahu Solar Holdings, LLC. The debt consists of a construction loan and an ITC bridge loan with a total commitment amount of $162 million, both at an interest rate of LIBOR plus 1.375%. On November 13, 2019, $90 million of non-recourse debt was converted to a term loan with an expected maturity of November 2026, and the remainder of the non-recourse debt was repaid with the final contribution from the tax equity investor in the amount of $67 million upon the project reaching substantial completion. Interest on the term loan is payable quarterly in arrears.

Kawailoa Solar Holdings LLC

Due to the Company consolidating the Kawailoa Partnership, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities, the Company assumed non-recourse debt of $120 million related to Kawailoa Solar Holdings, LLC. The debt consists of a construction loan and an ITC bridge loan, with a total commitment amount of $137 million both at an interest rate of LIBOR plus 1.375%. On December 23, 2019, $82 million of non-recourse debt was converted to a term loan with an expected maturity of December 2026, and the remainder of the non-recourse debt was repaid with the final contribution from the tax equity investor in the amount of $57 million upon the project reaching substantial completion. Interest on the term loan is payable quarterly in arrears.

South Trent Refinancing

On June 14, 2019, the Company, through South Trent Wind LLC, refinanced $49 million of non-recourse debt due 2020 at interest rate of LIBOR plus 1.625% by issuing $46 million of new non-recourse financing due 2028 at an interest rate of LIBOR plus 1.350%.

Tapestry Refinancing

On April 29, 2019, the Company, through Tapestry Wind LLC, refinanced $147 million of non-recourse debt due 2021 at interest rate of LIBOR plus 1.75% by issuing $164 million of new non-recourse financing due 2031 at an interest rate of LIBOR plus 1.375%.

Energy Center Minneapolis Series E, F, G, H Notes

On June 19, 2018, Energy Center Minneapolis LLC, a subsidiary of the Company, entered into an amended and restated Thermal note purchase and private shelf agreement under which it authorized the issuance of the Series E Notes, Series F Notes, Series G Notes, and Series H Notes, as further described in the table below:



(In millions)	Amount			Interest Rate
Energy Center Minneapolis Series E Notes, due 2033	$	70		4.80	%
Energy Center Minneapolis Series F Notes, due 2033	10			4.60	%
Energy Center Minneapolis Series G Notes, due 2035	83			5.90	%
Energy Center Minneapolis Series H Notes, due 2037	40			4.83	%
Total proceeds	$	203
Repayment of Energy Center Minneapolis Series C Notes, due 2025	(83		)	5.95	%
Net borrowings	$	120

The proceeds from the sale of the Series E Notes and the Series F Notes were utilized to finance the acquisition of the UPMC Thermal Project as described in Note 3, Acquisitions and Dispositions. The Series G Notes were used to refinance the Series C Notes as noted above in the table. The Series H Notes were used to make a dividend to Clearway Energy Operating LLC.

The amended and restated Thermal note purchase and private shelf agreement also established a private shelf facility for the future issuance of notes in the amount of $40 million.

Buckthorn Solar Drop Down Asset Debt

As part of the Buckthorn Solar Drop Down Asset acquisition, as further described in Note 3, Acquisitions and Dispositions, the Company assumed non-recourse debt of $183 million relating to Buckthorn Solar Portfolio, LLC as of the date of the acquisition, March 30, 2018. The assumed debt consisted of a construction loan and an Investment Tax Credits, or ITC, bridge loan, both at an interest rate of LIBOR plus 1.75%. On May 31, 2018, $132 million of non-recourse debt was converted to a term loan with an expected maturity of May 2025, and the remainder of the non-recourse debt was repaid with the final contribution from the Class A member in the amount of $80 million upon the project reaching substantial completion in May 2018.

Buckthorn Solar entered into a series of fixed for floating interest rate swaps that would fix the interest rate for a minimum of 80% of the outstanding notional amount. All interest rate swap payments by Buckthorn Solar and its counterparties are made quarterly and LIBOR is determined in advance of each interest period.

Interest Rate Swaps — Project Financings

Many of the Company's project subsidiaries entered into interest rate swaps, intended to hedge the risks associated with interest rates on non-recourse project level debt. These swaps amortize in proportion to their respective loans and are floating for fixed where the project subsidiary pays its counterparty the equivalent of a fixed interest payment on a predetermined notional value and will receive quarterly the equivalent of a floating interest payment based on the same notional value. All interest rate swap payments by the project subsidiary and its counterparty are made quarterly and the LIBOR is determined in advance of each interest period.

The following table summarizes the swaps, some of which are forward starting as indicated, related to the Company's project level debt as of December 31, 2019:



	% of Principal		Fixed Interest Rate		Floating Interest Rate	Notional Amount at December 31, 2019 (In millions)		Effective Date	Maturity Date
Alpine	85	%	various		3-Month LIBOR	$	101	various	various
Avra Valley	86	%	2.333	%	3-Month LIBOR	41		November 30, 2012	November 30, 2030
AWAM	100	%	2.47	%	3-Month LIBOR	15		May 22, 2013	May 15, 2031
Blythe	75	%	3.563	%	3-Month LIBOR	11		June 25, 2010	June 25, 2028
Buckthorn Solar	82	%	various		3-Month LIBOR	106		February 28, 2018	December 31, 2041
El Segundo	95	%	various		3-Month LIBOR	288		various	various
Kansas South	75	%	2.368	%	6-Month LIBOR	18		June 28, 2013	December 31, 2030
Laredo Ridge	80	%	2.31	%	3-Month LIBOR	67		December 17, 2014	December 31, 2028
Marsh Landing	94	%	3.244	%	3-Month LIBOR	195		June 28, 2013	June 30, 2023
Roadrunner	76	%	4.313	%	3-Month LIBOR	22		September 30, 2011	December 31, 2029
South Trent	95	%	3.847	%	3-Month LIBOR	39		June 14, 2019	June 30, 2028
Tapestry	75	%	various		3-Month LIBOR	117		April 19, 2019	December 31, 2031
Tapestry	50	%	3.57	%	3-Month LIBOR	12		December 21, 2021	December 21, 2029
Utah Solar Portfolio	80	%	various		1-Month LIBOR	203		various	September 30, 2036
Viento Funding II	93	%	various		6-Month LIBOR	39		various	various
Viento Funding II	100	%	4.985	%	6-Month LIBOR	21		July 11, 2023	June 30, 2028
Walnut Creek Energy	90	%	various		3-Month LIBOR	158		June 28, 2013	May 31, 2023
WCEP Holdings	100	%	4.003	%	3-Month LIBOR	39		June 28, 2013	May 31, 2023
Oahu Solar	96	%	various		3-Month LIBOR	88		November 30, 2019	October 31, 2040
Kawailoa Renew	94	%	various		3-Month LIBOR	77		November 30, 2019	October 31, 2040
Carlsbad	75	%	various		3-Month LIBOR	131		October 31, 2018	September 30, 2027
Total						$	1,788

Annual Maturities

Annual payments based on the maturities of the Company's debt, for the years ending after December 31, 2019, are as follows:



	(In millions)
2020	$	1,832
2021	249
2022	478
2023	319
2024	129
Thereafter	3,851
Total	$	6,858

Leases - Maturities of Operating Lease Liabilities (Details) $ in Millions	Dec. 31, 2019 USD ($)
Leases [Abstract]
2020	$ 16
2021	16
2022	16
2023	15
2024	16
Thereafter	303
Total lease payments	382
Less imputed interest	148
Total lease liability - operating leases	$ 234

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 5,000,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(3,000,000)
Noncontrolling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(1,000,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	5,000,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (2,000,000)

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended								8 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Aug. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019	Dec. 31, 2016
Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 155				$ 407					$ 155	$ 407
Restricted cash	262				176					262	176
Cash, cash equivalents and restricted cash shown in the statements of cash flows	417				583					417	583	$ 316		$ 498
Contingent rental income										537	583	559
Total operating revenue	235	$ 296	$ 284	$ 217	229	$ 292	$ 307	$ 225		1,032	1,053	1,009
Less: Lease revenue										864	878
Contract amortization										71	70
Mark-to-market for economic hedges										(9)
Disaggregation of revenue from contracts with customers										239	245
Accounts receivable	116				104					116	104
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset Retirement Obligation				$ 67						67
Revisions in estimates for current obligations/Additions										3
Accretion — expense										5
Asset Retirement Obligation	75				67					75	67
General and administrative										$ 4	3
Income Taxes, Threshold Percentage										50.00%
Lease liability	234									$ 234
Right-of-use assets, net	223									223
State net operating loss carryforwards	43				12					43	12
Project Level Subsidiaries
Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents held at project subsidiaries	125				109					125	109
Operating Funds
Summary of Significant Accounting Policies [Line Items]
Restricted cash	129									129
Long-Term Debt, Current
Summary of Significant Accounting Policies [Line Items]
Restricted cash	24									24
Debt Service Obligations
Summary of Significant Accounting Policies [Line Items]
Restricted cash	30									30
Cash Distribution
Summary of Significant Accounting Policies [Line Items]
Restricted cash	79									79
Subsidiaries Affected By Bankruptcy
Summary of Significant Accounting Policies [Line Items]
Restricted cash	58									58
NRG
Summary of Significant Accounting Policies [Line Items]
Intercompany revenue									$ 8		12
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
State net operating loss carryforwards					22						22
Customer Contracts
Summary of Significant Accounting Policies [Line Items]
Accounts receivable	34				35					34	35
Lease Agreements
Summary of Significant Accounting Policies [Line Items]
Accounts receivable	$ 82				$ 69					82	69
Energy revenue
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										670	697
Less: Lease revenue										516	541
Capacity revenue
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										402	387
Less: Lease revenue										348	337
Other revenues
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										40	39
Conventional Generation \| Energy revenue
Summary of Significant Accounting Policies [Line Items]
Less: Lease revenue										5	5
Conventional Generation \| Capacity revenue
Summary of Significant Accounting Policies [Line Items]
Less: Lease revenue										348	337
Renewables \| Energy revenue
Summary of Significant Accounting Policies [Line Items]
Less: Lease revenue										509	534
Renewables \| Capacity revenue
Summary of Significant Accounting Policies [Line Items]
Less: Lease revenue										0	0
Thermal \| Energy revenue
Summary of Significant Accounting Policies [Line Items]
Less: Lease revenue										2	2
Thermal \| Capacity revenue
Summary of Significant Accounting Policies [Line Items]
Less: Lease revenue										0	0
Operating Segments \| Conventional Generation
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										346	337	336
Less: Lease revenue										353	342
Contract amortization										7	5
Mark-to-market for economic hedges										0
Disaggregation of revenue from contracts with customers										0	0
Operating Segments \| Conventional Generation \| Energy revenue
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										5	5
Operating Segments \| Conventional Generation \| Capacity revenue
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										348	337
Operating Segments \| Conventional Generation \| Other revenues
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										0	0
Operating Segments \| Renewables
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										485	523	501
Less: Lease revenue										509	534
Contract amortization										61	62
Mark-to-market for economic hedges										(9)
Disaggregation of revenue from contracts with customers										37	51
Operating Segments \| Renewables \| Energy revenue
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										545	572
Operating Segments \| Renewables \| Capacity revenue
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										0	0
Operating Segments \| Renewables \| Other revenues
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										10	13
Operating Segments \| Thermal
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										201	193	172
Less: Lease revenue										2	2
Contract amortization										3	3
Mark-to-market for economic hedges										0
Disaggregation of revenue from contracts with customers										202	194
Operating Segments \| Thermal \| Energy revenue
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										120	120
Operating Segments \| Thermal \| Capacity revenue
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										54	50
Operating Segments \| Thermal \| Other revenues
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										30	26
Corporate
Summary of Significant Accounting Policies [Line Items]
Total operating revenue										$ 0	$ 0	$ 0
Accounting Standards Update 2016-02
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Lease liability													$ 165
Right-of-use assets, net													$ 159

Leases - Property, Plant and Equipment Related to Operating Leases (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 7,943	$ 6,835
Accumulated depreciation	(1,880)	(1,590)
Net property, plant and equipment	6,063	$ 5,245
Assets Leased to Others
Property, Plant and Equipment [Line Items]
Property, plant and equipment	6,942
Accumulated depreciation	(1,649)
Net property, plant and equipment	$ 5,293

Schedule II (Details) - USD ($) $ in Millions	12 Months Ended
Schedule II (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 15	$ 10	$ 16
Charged to costs and expenses	0	5	(6)
Charged to other accounts	0	0	0
Balance at end of period	$ 15	$ 15	$ 10

Investments Accounted for by the Equity Method and Variable Interest Entities

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Investments accounted for by the equity method and variable interest entities

Investments Accounted for by the Equity Method and Variable Interest Entities

Equity Method Investments

The following table summarizes the Company's equity method investments as of December 31, 2019:



Name	Economic Interest	Investment Balance
		(In millions)
Utah Solar Portfolio^(a)	50%	$285
Desert Sunlight^(d)	25%	274
GenConn^(b)	50%	94
Agua Caliente Solar^(d)	16%	96
Elkhorn Ridge	66.7%	48
San Juan Mesa	75%	49
DGPV Holdco 1 LLC ^(c)	95%	81
DGPV Holdco 2 LLC ^(c)	95%	68
DGPV Holdco 3 LLC ^(c)	99%	169
RPV Holdco 1 LLC^(c)	95%	24
Avenal^(d)	50%	(5)
		$1,183

^(a) Economic interest based on cash to be distributed. Four Brothers Solar, LLC, Granite Mountain Holdings, LLC and Iron Springs Holdings, LLC are tax equity structures and VIEs. The related allocations are described below.

^(b) GenConn is a variable interest entity.

^(c)Economic interest based on cash to be distributed. DGPV Holdco 1 LLC, DGPV Holdco 2 LLC, DGPV Holdco 3 LLC and RPV Holdco 1 LLC are tax equity structures and VIEs. The related allocations are described below.

^(d) Entities that have PPAs with PG&E. On January 29, 2019, PG&E filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. The Company has non-recourse project-level debt, and in some cases holding company debt, related to each of its subsidiaries that sell their output to PG&E under long-term PPAs. The PG&E Bankruptcy filing is an event of default under the related financing agreements, and as a result, the respective lenders under these arrangements may accelerate the repayment of these debt balances. In addition, the event of default may have an impact on the Company’s ability to distribute cash from the project-level cash accounts to the parent entities. The Company continues to operate the projects in the normal course of business and is currently in the process of negotiating forbearance agreements with the related lenders.

As of December 31, 2019 and 2018, the Company had $138 million and $87 million, respectively, of undistributed earnings from its equity method investments.

The Company acquired its interest in Desert Sunlight on June 30, 2015, for $285 million, which resulted in a difference between the purchase price and the basis of the acquired assets and liabilities of $171 million. The difference is attributable to the fair value of the property, plant and equipment and power purchase agreements. In addition, the difference between the basis of the acquired assets and liabilities and the purchase price for the Utah Solar Portfolio (Four Brothers Solar, LLC, Granite Mountain Holdings, LLC and Iron Springs Holdings, LLC) of $106 million is attributable to the fair value of the property, plant and equipment. The Company is amortizing the related basis differences to equity in earnings over the related useful life of the underlying assets acquired.

Non-recourse project-level debt of unconsolidated affiliates

The Company's pro-rata share of non-recourse debt held by unconsolidated affiliates was $889 million as of December 31, 2019. This included $411 million attributable to Desert Sunlight, Agua Caliente Solar, and Avenal, the unconsolidated affiliates that sell output to PG&E under long-term PPAs.

The following tables present summarized financial information for the Company's significant equity method investments:



	Year Ended December 31,
	2019			2018			2017
Income Statement Data:	(In millions)
GenConn
Operating revenues	$	60		$	65		$	71
Operating income	27			32			36
Net income	17			22			26
Desert Sunlight
Operating revenues	205			208			207
Operating income	123			129			127
Net income	58			84			80
DGPV entities ^(a)
Operating revenues	77			69			37
Operating income	25			23			7
Net income (loss)	(14		)	11			(3		)
Other ^(b)
Operating revenues	241			263			263
Operating income	85			103			92
Net income	$	64		$	75		$	59
				As of December 31,
				2019			2018
Balance Sheet Data:				(In millions)
GenConn
Current assets				$	37		$	43
Non-current assets				342			358
Current liabilities				16			22
Non-current liabilities				176			182
Desert Sunlight
Current assets				209			133
Non-current assets				1,296			1,298
Current liabilities				545			58
Non-current liabilities				484			962
DGPV entities ^(a)
Current assets				84			79
Non-current assets				898			784
Current liabilities				42			84
Non-current liabilities				411			314
Redeemable Noncontrolling Interest				(1		)	—
Other ^(b)
Current assets				195			150
Non-current assets				2,514			2,684
Current liabilities				767			59
Non-current liabilities				$	89		$	897

^(a)Includes DGPV Holdco 1, DGPV Holdco 2 and DGPV Holdco 3.

^(b)Includes Agua Caliente, Elkhorn Ridge, RPV Holdco 1, Utah Solar Portfolio and San Juan Mesa.

Variable Interest Entities, or VIEs

Entities that are Consolidated

The Company has a controlling financial interest in certain entities which have been identified as VIEs under ASC 810, Consolidations, or ASC 810. These arrangements are primarily related to tax equity arrangements entered into with third parties in order to monetize certain tax credits associated with wind facilities and are further described below.

Kawailoa Partnership — On August 31, 2018, the Company entered into an agreement with Clearway Renew LLC, a subsidiary of CEG, to acquire the Class A membership interests in the Kawailoa Solar Partnership LLC, or Kawailoa Partnership,

for $9 million in cash consideration. The purpose of the partnership is to own, finance, operate, and maintain the Kawailoa Solar project, a 49 MW utility-scale solar generation project, an indirect subsidiary of the Kawailoa Partnership, located in Oahu, Hawaii. The Kawailoa Solar project is contracted to sell power under a 22-year PPA with Hawaiian Electric Company, or HECO. The Kawailoa Solar project is 51% owned by the Kawailoa Partnership, with the remaining 49% owned by a third-party investor. The Kawailoa Partnership consolidates the Kawailoa Solar project through its controlling majority interest. On May 7, 2019, the Company made an initial capital contribution of $2 million, which represents 20% of its total anticipated capital contributions. The Company assumed non-recourse debt of $120 million, as further described in Note 10, Long-term Debt, and non-controlling interests attributable to third parties in the amount of $21 million. Effective May 1, 2019, the Company, as a Class A member, is the primary beneficiary through its position as managing member and consolidates Kawailoa Partnership. Allocations of income and taxable items are equal to the distributions of available cash, which is currently 95% to the Company and 5% to Clearway Renew LLC. The Company's acquisition of the Class A membership interests in the Kawailoa Partnership was accounted for as a transfer of assets under common control and was recorded at historical cost in accordance with ASC 805-50, Business Combinations — Related Issues. The difference between the cash paid and payable recorded and the historical value of the assets was recorded as a distribution to CEG and decreased the balance of its noncontrolling interest.

Upon reaching COD in November of 2019, the Kawailoa Solar project's fixed assets were placed in service and began to depreciate. On December 22, 2019, Kawailoa Solar Holdings LLC, a tax equity fund, received its final equity contribution of $61 million. The proceeds were utilized to repay the ITC bridge loan in the amount of $57 million, and the construction debt was converted to term debt (and upsized, with an additional $5 million drawn). Distributions were paid to the third-party investor and Clearway Renew LLC, funded by the excess of the tax equity investment and the term loan upsizing above the amount of the bridge loan repayment and related fees. On December 27, 2019, the Company made its substantial completion contribution of $7 million into the Kawailoa Partnership, which was also utilized to make a distribution to Clearway Renew LLC. In addition, the Company started applying HLBV to allocate income attributable to the tax equity investor during the fourth quarter. The Company recorded $14 million of loss attributable to noncontrolling interest during the period ended December 31, 2019.

Oahu Partnership — On August 31, 2018, the Company entered into an agreement with Clearway Renew LLC, a subsidiary of CEG, to acquire the Class A membership interests in the Zephyr Oahu Partnership LLC, or Oahu Partnership, for $20 million in cash consideration. The purpose of the partnership is to own, finance, operate, and maintain the Oahu Solar projects, which consist of Lanikuhana and Waipio, utility-scale solar generation projects which represent 15 MW and 46 MW, respectively, the indirect subsidiaries of the Oahu Partnership, located in Oahu, Hawaii. The Oahu Solar projects are contracted to sell power under a 22-year PPA with HECO. The Oahu Partnership consolidates the Oahu Solar projects through its controlling majority interest. On March 8, 2019, the Company made an initial capital contribution of $4 million, which represents 20% of its total anticipated capital contributions. The Company also assumed non-recourse debt of $143 million, as further described in Item 15 — Note 10, Long-term Debt, and $18 million of non-controlling interest attributable to a tax equity investor's initial contribution. Effective March 8, 2019, the Company, as a Class A member, is the primary beneficiary through its position as managing member and consolidates Oahu Partnership. Allocations of income and taxable items are equal to the distributions of available cash, which is currently 95% to the Company and 5% to Clearway Renew LLC. The Company's acquisition of the Class A membership interests in the Oahu Partnership was accounted for as a transfer of assets under common control and was recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues. The difference between the cash paid and payable recorded and the historical value of the assets was recorded as a contribution from CEG and increased the balance of its noncontrolling interest.

Upon reaching COD in September 2019, the Oahu Solar projects' fixed assets were placed in service and began to depreciate and on November 12, 2019 the tax equity investor made its final tax-equity contribution of $71 million. The proceeds were utilized to repay the related ITC bridge loan in the amount of $67 million, and the construction loan was converted to term debt. The Company paid the remaining 80% of the equity commitment in the amount of $16 million to Clearway Renew LLC when the Oahu Solar projects reached certain milestones in December 2019. In addition, the Company started applying HLBV to allocate income attributable to the tax equity investor during the third quarter. The Company recorded $32 million of loss attributable to noncontrolling interest during the period ended December 31, 2019.

Repowering Partnership II LLC — On August 30, 2018, Wind TE Holdco, an indirect subsidiary of the Company, formed Repowering Partnership LLC with Clearway Renew LLC, an indirect subsidiary of CEG, in order to facilitate the repowering of wind facilities of two of its indirect subsidiaries, Elbow Creek Wind Project LLC, or Elbow Creek, and Wildorado Wind LLC, or Wildorado Wind. Wind TE Holdco contributed its interests in the two facilities and Clearway Renew LLC contributed a turbine supply agreement, including title to certain components that qualify for production tax credits. Wind TE Holdco is the managing member of the partnership and consolidates the entity, which is a VIE. Clearway Renew LLC is initially entitled to allocations of 21% of income, which is reflected in Wind TE Holdco’s noncontrolling interests.

On June 14, 2019, Repowering Partnership LLC was replaced with Repowering Partnership II LLC as the owner of the Elbow Creek and Wildorado Wind projects, as well as Repowering Partnership Holdco LLC, which concurrently entered into a

financing agreement for construction debt of total commitment of $352 million, as further described in Item 15 — Note 10, Long-term Debt.

Repowering of the Elbow Creek project was completed and on November 26, 2019, a third party tax equity investor purchased 100% of the Class A membership interests in Elbow Creek Repowering Tax Equity Holdco LLC, or Elbow TE Holdco for $89 million pursuant to a membership interest purchase agreement dated June 14, 2019. The Company also contributed $4 million. In connection with the completion of the Elbow Creek repowering, the construction loan of $93 million was repaid with the proceeds from the tax equity investor. The Company began applying HLBV during the fourth quarter to allocate income between the partners of Elbow TE Holdco. In connection with the closing, the allocations of income at Repowering Partnership II LLC (which indirectly consolidates both projects) changed to 59.63% for Wind TE Holdco LLC (the Company member) and 40.37% for CWSP Wildorado Elbow Holding LLC (the CEG member). In addition, approximately half of the repowered Wildorado equipment was placed in service in December 2019, with the remaining equipment being placed in service in January of 2020. In connection with repowering of the projects, the Company revised the remaining useful life of the property, plant and equipment that was replaced, resulting in additional expense of $54 million during the year ended December 31, 2019 related to accelerated depreciation.

On February 7, 2020, the same third party tax equity investor purchased 100% of the Class A membership interests in Wildorado Repowering tax equity Holdco LLC, or Wildorado Holdco LLC, for $148 million. The Company also contributed $112 million. The repowering of the Elbow Creek and Wildorado assets is being referred to as Repowering 1.0 in Item 7 — Management's Discussion and Analysis of Financial Condition and the Results of Operations.

Buckthorn Renewables, LLC — As described in Item 15 — Note 3, Acquisitions and Dispositions, on March 30, 2018, the Company acquired 100% of NRG’s interest in a 154 MW construction-stage utility-scale solar generation project, Buckthorn Renewables, LLC, which owns 100% interest in Buckthorn Solar Portfolio, LLC, which in turn owns 100% of the Class B membership interests in Buckthorn Holdings, LLC. Buckthorn Holdings, LLC is a tax equity fund, which is a variable interest entity that is consolidated by Buckthorn Solar Portfolio, LLC. The Company is the primary beneficiary, through its position as managing member, and indirectly consolidates Buckthorn Holdings, LLC through Buckthorn Solar Portfolio, LLC. The Class A member is a tax equity investor who made its initial contribution of $19 million on March 30, 2018, which is reflected as noncontrolling interest on the Company’s consolidated balance sheet. The project achieved substantial completion in May 2018, at which time the remaining tax equity contributions of $80 million were funded. The Company utilizes the HLBV method for income or loss allocation to the tax equity investor's noncontrolling interest. The Company recorded $25 million of income attributable to noncontrolling interest in Buckthorn Renewables, LLC during the period ended December 31, 2019.

Wind TE Holdco — As of December 31, 2018, Wind TE Holdco was a VIE and the Company, as the holder of Class B shares and the primary beneficiary through its position as managing member consolidated Wind TE Holdco. The Class A shares of Wind TE Holdco were owned by a tax equity investor, who received 99% of allocations of taxable income and other items.

On January 2, 2019, the Company bought out 100% of the Class A membership interests from the TE Investor, for cash consideration of $19 million. The Company recorded the difference between the value of the interest bought and the cash received to equity and allocated it between non-controlling interest and additional paid in capital based on the economic ownership interest between CEG and public interest as of January 2, 2019.

Alta TE Holdco — On June 30, 2015, the Company sold an economic interest in Alta TE Holdco to a financial institution in order to monetize certain cash and tax attributes, primarily PTCs. The financial institution, or Alta Investor, receives 99% of allocations of taxable income and other items until the flip point, which occurs when the Alta Investor obtains a specified return on its initial investment, at which time the allocations to the Alta Investor change to 5%. The Company receives 94.34% until the flip point, at which time the allocations to the Company of CAFD will change to 97.12%, unless the flip point will not have occurred by a specified date, which would result in 100% of CAFD allocated to the Alta Investor until the flip point occurs. Alta TE Holdco is a VIE and the Company is the primary beneficiary through its position as managing member, and therefore consolidates Alta TE Holdco, with the Alta Investor's interest shown as noncontrolling interest. The Company utilizes the HLBV method to determine the net income or loss allocated to the noncontrolling interest.

Spring Canyon — The Company holds 90.1% of the Class B interests in Spring Canyon II, a 32 MW wind facility, and Spring Canyon III, a 28 MW wind facility, each located in Logan County, Colorado, and Invenergy Wind Global LLC owns 9.9% of the Class B interests. The projects are financed with a partnership flip tax-equity structure with a financial institution, who owns the Class A interests, to monetize certain cash and tax attributes, primarily PTCs. Until the flip point, the Class A member receives a variable percentage of cash distributions based on the projects’ production level during the prior year. The Class A member received 34.81% of the cash distributions and the Company and Invenergy received 65.19% during the period ended December 31, 2017. After the flip point, cash distributions are allocated 5% to the Class A member and 95% to the Company and Invenergy. Spring Canyon is a VIE and the Company is the primary beneficiary through its position as managing member, and

therefore consolidates Spring Canyon. The Class A member and Invenergy's interests are shown as noncontrolling interest. The Company utilizes the HLBV method to determine the net income or loss allocated to the Class A member. Net income or loss attributable to the Class B interests is allocated to Invenergy's noncontrolling interest based on its 9.9% ownership interest.

Summarized financial information for the Company's consolidated VIEs consisted of the following as of December 31, 2019:



(In millions)	Oahu Solar Partnership		Kawailoa Partnership		Repowering Partnership II LLC		Alta TE Holdco		Spring Canyon		Buckthorn Renewables, LLC		Other^(a)
Other current and non-current assets	$	27	$	24	$	31	$	55	$	3	$	6	$	4
Property, plant and equipment	188		147		340		381		86		214		9
Intangible assets	—		—		1		237		—		—		—
Total assets	215		171		372		673		89		220		13
Current and non-current liabilities	120		109		273		44		6		11		3
Total liabilities	120		109		273		44		6		11		3
Noncontrolling interest	42		52		77		48		32		66		—
Net assets less noncontrolling interests	$	53	$	10	$	22	$	581	$	51	$	143	$	10

^(a) Other is comprised of Crosswinds and Hardin projects, that were determined to be VIEs during the year ended December 31, 2019. Previously reported as part of Wind TE Holdco that is no longer a VIE in 2019.

Entities that are not Consolidated

The Company has interests in entities that are considered VIEs under ASC 810, Consolidation, but for which it is not considered the primary beneficiary. The Company accounts for its interests in these entities under the equity method of accounting.

Utah Solar Portfolio Assets — As described in Item 15 — Note 3, Business Acquisitions, as part of the March 2017 Drop Down Assets acquisition, the Company acquired from NRG 100% of the Class A equity interests in the Utah Solar Portfolio, comprised of Four Brothers Solar, LLC, Granite Mountain Holdings, LLC, and Iron Springs Holdings, LLC. The Class B interests of the Utah Solar Portfolio are owned by a tax equity investor, or TE Investor, who receives 99% of allocations of taxable income and other items until the flip point, which occurs on the last day of the calendar month on which the Class B member does not have an agreed upon adjusted capital account deficit, but not prior to the 10th day after the five year anniversary of the last project to achieve its placed in service date, at which time the allocations to the TE Investor change to 50%. The Company generally receives 50% of distributable cash throughout the term of the tax-equity arrangements. The three entities comprising the Utah Solar Portfolio are VIEs. As the Company is not the primary beneficiary, the Company uses the equity method of accounting to account for its interests in the Utah Solar Portfolio. The Company utilizes the HLBV method to determine its share of the income or losses in the investees.

DGPV Holdco 1 LLC — The Company and CEG are parties to the DGPV Holdco 1 LLC partnership, or DGPV Holdco 1, the purpose of which is to own or purchase solar power generation projects and other ancillary related assets from Clearway Energy Group LLC or its subsidiaries via intermediate funds. The Company owns approximately 52 MW of Distributed Solar capacity, based on cash to be distributed, with a weighted average contract life of 16 years. Under this partnership, the Company committed to fund up to $100 million of capital.

DGPV Holdco 2 LLC — The Company and CEG are parties to the DGPV Holdco 2 LLC partnership, or DGPV Holdco 2, the purpose of which is to own or hold solar power generation projects as well as other ancillary related assets from Clearway Energy Group LLC or its subsidiaries. The Company owns approximately 113 MW of Distributed Solar capacity, based on cash to be distributed, with a weighted average contract life of 19 years. Under this partnership, the Company committed to fund up to $60 million of capital.

DGPV Holdco 3 LLC — The Company and CEG are parties to the DGPV Holdco 3 LLC partnership, or DGPV Holdco 3, in which the Company would invest up to $70 million in an operating portfolio of distributed solar assets, primarily comprised of community solar projects, developed by CEG. The Company owns approximately 112 MW of distributed solar capacity, based on cash to be distributed, with a weighted average contract life of approximately 21 years as of December 31, 2019. The Company had a $14 million payable due to DGPV Holdco 3 LLC as of December 31, 2019.

The Company's maximum exposure to loss is limited to its equity investment in DGPV Holdco 1, DGPV Holdco 2 and DGPV Holdco 3, which was $318 million on a combined basis.

RPV Holdco 1 LLC — The Company and CEG are parties to the RPV Holdco 1 LLC partnership, or RPV Holdco, the purpose of which is to hold operating portfolios of residential solar assets developed by NRG's residential solar business, including: (i) an existing, unlevered portfolio of approximately 2,200 leases across nine states representing approximately 14 MW, based on cash to be distributed, with a weighted average remaining lease term of approximately 13 years that was acquired outside of the partnership; and (ii) a tax equity-financed portfolio of approximately 5,300 leases representing approximately 31 MW, based on cash to be distributed, with a weighted average remaining lease term for the existing and new leases of approximately 15 years. The Company fully funded the partnership as of December 31, 2017.

The Company's maximum exposure to loss is limited to its equity investment, which was $24 million as of December 31, 2019.

Unaudited Quarterly Financial Data (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock
Total operating revenues	$ 235	$ 296	$ 284	$ 217	$ 229	$ 292	$ 307	$ 225	$ 1,032	$ 1,053	$ 1,009
Operating income	6	90	87	41	54	100	144	49	224	347	283
Net loss	(48)	35	(36)	(47)	(91)	49	96	0	(96)	54	(24)
Net (loss) income attributable to Clearway Energy, Inc.	$ (6)	$ 39	$ (24)	$ (20)	$ (68)	$ 21	$ 79	$ 16
Net income/(loss) per weighted average common share - basic (in dollars per share)					$ (0.63)	$ 0.20	$ 0.77	$ 0.16
Common Class A
Class of Stock
Net (loss) income attributable to Clearway Energy, Inc.									$ (4)	$ 16	$ (6)
Weighted average number of shares outstanding, basic (in shares)	35	35	35	35	35	35	35	35
Weighted average number of shares outstanding, diluted (in shares)	35	35	35	35	35	35	49	35
(Loss) Earnings per weighted average common share — basic and diluted (in dollars per share)									$ (0.10)	$ 0.46	$ (0.16)
Earnings per share, diluted (in dollars per share)					$ (0.63)	$ 0.20	$ 0.61	$ 0.16
Common Class C
Class of Stock
Net (loss) income attributable to Clearway Energy, Inc.									$ (7)	$ 32	$ (10)
Weighted average number of shares outstanding, basic (in shares)	75	73	73	73	73	69	67	65
Weighted average number of shares outstanding, diluted (in shares)	75	75	73	73	73	69	78	65
(Loss) Earnings per weighted average common share — basic and diluted (in dollars per share)	$ (0.06)	$ (0.36)	$ (0.22)	$ (0.18)					$ (0.10)	$ 0.46	$ (0.16)
Earnings per share, diluted (in dollars per share)					$ (0.63)	$ 0.20	$ 0.70	$ 0.16

Leases (Details) $ in Millions	12 Months Ended
Leases (Details) $ in Millions	Dec. 31, 2019 USD ($) renewal_option	Dec. 31, 2018 USD ($)	Jan. 01, 2019 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liability	$ 234
Right of use assets, net	$ 223
Weighted average discount rate	4.40%
Lease expense	$ 18
Lease expense		$ 17
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Weighted average discount rate			4.04%
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Weighted average discount rate			4.67%
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liability			$ 165
Right of use assets, net			$ 159
Oahu Solar Partnership
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liability	21
Right of use assets, net	$ 19
Lease period	35 years
Number of renewal options \| renewal_option	2
Renewal period	5 years

Segment Reporting

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Reporting

The Company’s segment structure reflects how management currently operates and allocates resources. The Company's businesses are segregated based on conventional power generation, renewable businesses which consist of solar and wind, and the thermal and chilled water business. The Corporate segment reflects the Company's corporate costs and includes eliminating entries. The Company's chief operating decision maker, its Chief Executive Officer, evaluates the performance of its segments based on operational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA, and CAFD, as well as economic gross margin and net income (loss).

The Company generated more than 10% of its revenues from the following customers for the years ended December 31, 2019, 2018 and 2017:



	2019		2018		2017
Customer	Conventional (%)	Renewables (%)	Conventional (%)	Renewables (%)	Conventional (%)	Renewables (%)
SCE	21%	19%	20%	20%	21%	20%
PG&E	12%	10%	12%	11%	12%	11%



	Year ended December 31, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	346		$	485		$	201		$	—		$	1,032
Cost of operations	61			147			134			—			342
Depreciation and amortization	102			267			27			—			396
Impairment losses	—			14			19			—			33
General and administrative	—			1			3			25			29
Acquisition-related transaction and integration costs	—			—			—			3			3
Development costs	—			—			5			—			5
Operating income (loss)	183			56			13			(28		)	224
Equity in earnings of unconsolidated affiliates	9			74			—			—			83
Other income, net	2			6			—			1			9
Loss on debt extinguishment				(1		)	—			(15		)	(16		)
Interest expense, net	(59		)	(239		)	(18		)	(88		)	(404		)
Income (loss) before income taxes	135			(104		)	(5		)	(130		)	(104		)
Income tax benefit	—			—			—			(8		)	(8		)
Net Income (Loss)	135			(104		)	(5		)	(122		)	(96		)
Net Income (Loss) Attributable to Clearway Energy, Inc.	$	135		$	(33	)	$	(5	)	$	(108	)	$	(11	)
Balance Sheet
Equity investment in affiliates	$	94		$	1,089		$	—		$	—		$	1,183
Capital expenditures ^(a)	4			185			34			—			223
Total Assets	$	2,753		$	6,186		$	633		$	128		$	9,700

^(a) Includes accruals.



	Year ended December 31, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	337		$	523		$	193		$	—		$	1,053
Cost of operations	62			143			127			—			332
Depreciation and amortization	101			207			23			—			331
General and administrative	—			—			1			19			20
Acquisition-related transaction and integration costs	—			—			—			20			20
Development costs	—			—			2			1			3
Operating income (loss)	174			173			40			(40		)	347
Equity in earnings of unconsolidated affiliates	11			63			—			—			74
Other income, net	1			4			1			2			8
Loss on debt extinguishment	—			—			—			(7		)	(7		)
Interest expense, net	(51		)	(154		)	(12		)	(89		)	(306		)
Income (loss) before income taxes	135			86			29			(134		)	116
Income tax expense	—			—			—			62			62
Net Income (Loss)	135			86			29			(196		)	54
Net Income (Loss) Attributable to Clearway Energy, Inc.	$	135		$	186		$	29		$	(302	)	48
Balance Sheet
Equity investments in affiliates	$	98		$	1,074		$	—		$	—		$	1,172
Capital expenditures ^(a)	14			26			28			—			68
Total Assets	$	1,788		$	5,836		$	516		$	360		$	8,500

^(a) Includes accruals.



	Year ended December 31, 2017
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	336		$	501		$	172		$	—		$	1,009
Cost of operations	77			133			116			—			326
Depreciation and amortization	103			210			21			—			334
Impairment losses	—			44			—			—			44
General and administrative	—			—			—			19			19
Acquisition-related transaction and integration costs	—			—			—			3			3
Operating income (loss)	156			114			35			(22		)	283
Equity in earnings of unconsolidated affiliates	12			59			—			—			71
Other income, net	1			2			—			1			4
Loss on debt extinguishment	—			(3		)	—			—			(3		)
Interest expense, net	(49		)	(164		)	(10		)	(84		)	(307		)
Income (loss) before income taxes	120			8			25			(105		)	48
Income tax expense	—			—			—			72			72
Net Income (Loss)	120			8			25			(177		)	(24		)
Net Income (Loss) Attributable to Clearway Energy, Inc.	$	120		$	76		$	25		$	(237	)	(16		)

Schedule I - Condensed Financial Information of Registrant - P/L (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Loss on debt extinguishment									$ (16)	$ (7)	$ (3)
Interest expense									(404)	(306)	(307)
Total other expense, net									(328)	(231)	(235)
Income Before Income Taxes									(104)	116	48
Income tax (benefit) expense									(8)	62	72
Net (Loss) Income	$ (48)	$ 35	$ (36)	$ (47)	$ (91)	$ 49	$ 96	$ 0	(96)	54	(24)
Less: Pre-acquisition net income of Drop Down Assets									0	4	7
Less: Net (loss) income attributable to noncontrolling interests									(85)	2	(15)
Net (Loss) Income Attributable to Clearway Energy, Inc.	$ (6)	$ 39	$ (24)	$ (20)	$ (68)	$ 21	$ 79	$ 16
Clearway Energy, Inc.
Condensed Financial Statements, Captions [Line Items]
Operating Expenses									2	1	1
Equity in earnings of consolidated subsidiaries									(101)	135	61
Loss on debt extinguishment									0	(7)	0
Interest expense									(1)	(11)	(12)
Total other expense, net									(102)	117	49
Income Before Income Taxes									(104)	116	48
Income tax (benefit) expense									(8)	62	72
Net (Loss) Income									(96)	54	(24)
Less: Pre-acquisition net income of Drop Down Assets									0	4	7
Less: Net (loss) income attributable to noncontrolling interests									(85)	2	(15)
Net (Loss) Income Attributable to Clearway Energy, Inc.									$ (11)	$ 48	$ (16)

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair value of financial instruments

Fair Value of Financial Instruments

Fair Value Accounting under ASC 820

ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows:


•	Level 1—quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date.


•	Level 2—inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.


•	Level 3—unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date.

In accordance with ASC 820, the Company determines the level in the fair value hierarchy within which each fair value measurement in its entirety falls, based on the lowest level input that is significant to the fair value measurement.

For cash and cash equivalents, restricted cash, accounts receivable — affiliate, accounts receivable, accounts payable, current portion of accounts payable — affiliate, accrued expenses and other liabilities, the carrying amount approximates fair value because of the short-term maturity of those instruments and are classified as Level 1 within the fair value hierarchy.

The estimated carrying amounts and fair values of the Company’s recorded financial instruments not carried at fair market value are as follows:



	As of December 31, 2019				As of December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In millions)
Liabilities:
Long-term debt, including current portion ^(a)	$	6,858	$	6,957	$	6,043	$	5,943

^(a) Excludes net debt issuance costs, which are recorded as a reduction to long-term debt on the Company's consolidated balance sheets.

The fair value of the Company's publicly-traded long-term debt is based on quoted market prices and is classified as Level 2 within the fair value hierarchy. The fair value of debt securities, non-publicly traded long-term debt and certain notes receivable of the Company are based on expected future cash flows discounted at market interest rates, or current interest rates for similar instruments with equivalent credit quality and are classified as Level 3 within the fair value hierarchy. The following table presents the level within the fair value hierarchy for long-term debt, including current portion as of December 31, 2019 and 2018:



	As of December 31, 2019				As of December 31, 2018
	Level 2		Level 3		Level 2		Level 3
	(In millions)
Long-term debt, including current portion	$	1,736	$	5,221	$	1,620	$	4,323

Recurring Fair Value Measurements

The Company records its derivative assets and liabilities at fair market value on its consolidated balance sheet. The following table presents assets and liabilities measured and recorded at fair value on the Company's consolidated balance sheets on a recurring basis and their level within the fair value hierarchy:



	As of December 31, 2019		As of December 31, 2019		As of December 31, 2018
	Fair Value ^(a)		Fair Value ^(a)		Fair Value ^(a)
(In millions)	Level 2		Level 3		Level 2
Derivative assets:
Interest rate contracts	—		—		11
Total assets	$	—	$	—	$	11
Derivative liabilities:
Commodity contracts ^(b)	$	—	$	9	$	—
Interest rate contracts	83		—		21
Total liabilities	$	83	$	9	$	21

^(a)There were no derivative assets or liabilities classified as Level 1 December 31, 2019 and 2018.



	Twelve months ended December 31,
	2019			2018
(In millions)	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
Beginning balance	$	—		$	—
Total losses for the period included in earnings	(3		)	—
Purchases	(6		)	—
Ending balance	$	(9	)	$	—

There were losses of $3 million for the period included in earnings attributable to the change in unrealized losses

relating to assets or liabilities still held as of December 31, 2019.

Derivative Fair Value Measurements

The Company's contracts are non-exchange-traded and valued using prices provided by external sources. For some of the Company’s energy contracts, management receives quotes from multiple sources. To the extent that multiple quotes are received, the prices reflect the average of the bid-ask mid-point prices obtained from all sources believed to provide the most liquid market for the commodity. The remainder of the assets and liabilities represent contracts for which external sources or observable market quotes are not available. These contracts are valued based on various valuation techniques including, but not limited to, internal models based on a fundamental analysis of the market and extrapolation of the observable market data with similar characteristics. As of December 31, 2019, contracts valued with prices provided by models and other valuation techniques make up 10% of derivative liabilities.

The Company’s significant position classified as Level 3 includes physical power executed in illiquid markets. The significant unobservable inputs used in developing fair value include illiquid power tenors and location pricing, which is derived by extrapolating pricing and as a basis to liquid locations. The tenor pricing and basis spread are based on observable market data when available or derived from historic prices and forward market prices from similar observable markets when not available.

The following tables quantify the significant unobservable inputs used in developing the fair value of the Company's Level 3 positions as of December 31, 2019:

December 31, 2019

Fair Value

Input/Range

Assets

Liabilities

Valuation Technique

Significant Unobservable Input

Low

High

Weighted Average

(In millions)

Power Contracts

—

)

Discounted Cash Flow

Forward Market Price (per MWh)

The following table provides sensitivity of fair value measurements to increases/(decreases) in significant unobservable inputs as of December 31, 2019:



Significant Observable Input	Position	Change In Input	Impact on Fair Value Measurement
Forward Market Price Power	Buy	Increase/(Decrease)	Higher/(Lower)
Forward Market Price Power	Sell	Increase/(Decrease)	Lower/(Higher)

The fair value of each contract is discounted using a risk-free interest rate. In addition, a credit reserve is applied to reflect credit risk, which is, for interest rate swaps, calculated based on credit default swaps using the bilateral method. For commodities, to the extent that the Net Exposure under a specific master agreement is an asset, the Company uses the counterparty’s default swap rate. If the Net Exposure under a specific master agreement is a liability, the Company uses a proxy of its own default swap rate. For interest rate swaps and commodities, the credit reserve is added to the discounted fair value to reflect the exit price that a market participant would be willing to receive to assume the liabilities or that a market participant would be willing to pay for the assets. As of December 31, 2019, the non-performance reserve was a $4 million gain recorded primarily to interest expense in the consolidated statement of operations. It is possible that future market prices could vary from those used in recording assets and liabilities and such variations could be material.

Concentration of Credit Risk

In addition to the credit risk discussion as disclosed in Item 15 —Note 2, Summary of Significant Accounting Policies, the following item is a discussion of the concentration of credit risk for the Company's financial instruments. Credit risk relates to the risk of loss resulting from non-performance or non-payment by counterparties pursuant to the terms of their contractual obligations. The Company monitors and manages credit risk through credit policies that include: (i) an established credit approval process; (ii) monitoring of counterparties' credit limits on as needed basis; (iii) as applicable, the use of credit mitigation measures such as margin, collateral, prepayment arrangements, or volumetric limits; (iv) the use of payment netting agreements; and (v) the use of master netting agreements that allow for the netting of positive and negative exposures of various contracts associated with a single counterparty. Risks surrounding counterparty performance and credit could ultimately impact the amount and timing of expected cash flows. The Company seeks to mitigate counterparty risk by having a diversified portfolio of counterparties.

Counterparty credit exposure includes credit risk exposure under certain long-term agreements, including solar and other PPAs. As external sources or observable market quotes are not available to estimate such exposure, the Company estimates the exposure related to these contracts based on various techniques including but not limited to internal models based on a fundamental analysis of the market and extrapolation of observable market data with similar characteristics. The majority of these power contracts are with utilities with strong credit quality and public utility commission or other regulatory support. However, such regulated utility counterparties can be impacted by changes in government regulations or adverse financial conditions, which the Company is unable to predict.

On January 29, 2019, PG&E filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Certain subsidiaries of the Company sell the output of their facilities to PG&E under long-term PPAs, including interests in 6 solar facilities totaling 480 MW and Marsh Landing with a capacity of 720 MW. The Company consolidates three of the solar facilities and Marsh Landing

and records its interest in the other solar facilities as equity method investments. The Company had $16 million in accounts receivable due from PG&E for its consolidated projects, of which $5 million was recorded to non-current assets as of December 31, 2019. As of March 2, 2020, the Company's contracts with PG&E have operated in the normal course and the Company currently expects these contracts to continue as such. As of March 2, 2020, the Company has entered into forbearance agreements for certain project-level financing arrangements and continues to seek forbearance agreements for its other project-level financing arrangements affected by the PG&E Bankruptcy. The Company continues to assess the potential future impacts of the PG&E Bankruptcy as events occur.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes (Provision) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Provision) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current
U.S. Federal	$ 0	$ 0	$ 0
State	0	0	0
Total — current	0	0	0
Deferred
U.S. Federal	(4)	28	75
State	(4)	34	(3)
Total — deferred	(8)	62	72
Income tax (benefit) expense	(8)	62	72
Reconciliation of the U.S. federal statutory rate to the Company's effective rate from continuing operations
Income Before Income Taxes	(104)	116	48
Tax at 21%/35%	(22)	24	17
State taxes, net of federal benefit	(7)	8	(3)
Deferred state rate change due to deconsolidation from NRG	0	20	0
Tax Cuts and Jobs Act - tax rate change	0	0	68
Impact of non-taxable equity earnings	24	8	(9)
Investment tax credits	(1)	(3)	(1)
Production tax credits, including prior year true-up	(1)	(1)	(1)
Valuation allowance adjustment	0	3	0
Other	$ (1)	$ 3	$ 1
Effective income tax rate	7.70%	53.40%	150.00%

Investments Accounted for by the Equity Method and Variable Interest Entities - VIEs that are consolidated (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	$ 3,029	$ 2,499
Property, plant and equipment	6,063	5,245
Intangible assets	1,428	1,156
Total Assets	9,700	8,500
Total liabilities	7,437	$ 6,276
Oahu Solar Partnership
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	27
Property, plant and equipment	188
Intangible assets	0
Total Assets	215
Total liabilities	120
Noncontrolling interest	42
Net assets less noncontrolling interests	53
Kawailoa Partnership
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	24
Property, plant and equipment	147
Intangible assets	0
Total Assets	171
Total liabilities	109
Noncontrolling interest	52
Net assets less noncontrolling interests	10
Repowering Partnership II LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	31
Property, plant and equipment	340
Intangible assets	1
Total Assets	372
Total liabilities	273
Noncontrolling interest	77
Net assets less noncontrolling interests	22
Alta TE Holdco
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	55
Property, plant and equipment	381
Intangible assets	237
Total Assets	673
Total liabilities	44
Noncontrolling interest	48
Net assets less noncontrolling interests	581
Spring Canyon
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	3
Property, plant and equipment	86
Intangible assets	0
Total Assets	89
Total liabilities	6
Noncontrolling interest	32
Net assets less noncontrolling interests	51
Buckthorn Renewables, LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	6
Property, plant and equipment	214
Intangible assets	0
Total Assets	220
Total liabilities	11
Noncontrolling interest	66
Net assets less noncontrolling interests	143
Other
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	4
Property, plant and equipment	9
Intangible assets	0
Total Assets	13
Total liabilities	3
Noncontrolling interest	0
Net assets less noncontrolling interests	$ 10

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Reconciliation of the Company's basic earnings per share to diluted earnings per share

The reconciliation of the Company's basic and diluted (loss) earnings per share is shown in the following table:



	Year Ended December 31,
	2019						2018				2017
(In millions, except per share data) ^(a)	Common Class A			Common Class C			Common Class A		Common Class C		Common Class A			Common Class C
Basic and diluted earnings (loss) per share attributable to Clearway Energy, Inc. common stockholders
Net (loss) income attributable to Clearway Energy, Inc.	$	(4	)	$	(7	)	$	16	$	32	$	(6	)	$	(10	)
Weighted average number of common shares outstanding — basic and diluted	35			74			35		69		35			64
(Loss) Earnings per weighted average common share — basic and diluted	$	(0.10	)	$	(0.10	)	$	0.46	$	0.46	$	(0.16	)	$	(0.16	)

^(a)Net (loss) income attributable to Clearway Energy, Inc. and basic and diluted (loss) earnings per share might not recalculate due to presenting values in millions rather than whole dollars.

Summary of Company's outstanding equity instruments not included in diluted earnings per share

The following table summarizes the Company's outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company's diluted earnings per share:



	Year Ended December 31,
	2019	2018	2017
	(In millions of shares)
2019 Convertible Notes - Common Class A	—	9	15
2020 Convertible Notes - Common Class C	2	8	10

Investments Accounted for by the Equity Method and Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Equity method investments

The following table summarizes the Company's equity method investments as of December 31, 2019:



Name	Economic Interest	Investment Balance
		(In millions)
Utah Solar Portfolio^(a)	50%	$285
Desert Sunlight^(d)	25%	274
GenConn^(b)	50%	94
Agua Caliente Solar^(d)	16%	96
Elkhorn Ridge	66.7%	48
San Juan Mesa	75%	49
DGPV Holdco 1 LLC ^(c)	95%	81
DGPV Holdco 2 LLC ^(c)	95%	68
DGPV Holdco 3 LLC ^(c)	99%	169
RPV Holdco 1 LLC^(c)	95%	24
Avenal^(d)	50%	(5)
		$1,183

^(b) GenConn is a variable interest entity.

The following tables present summarized financial information for the Company's significant equity method investments:



	Year Ended December 31,
	2019			2018			2017
Income Statement Data:	(In millions)
GenConn
Operating revenues	$	60		$	65		$	71
Operating income	27			32			36
Net income	17			22			26
Desert Sunlight
Operating revenues	205			208			207
Operating income	123			129			127
Net income	58			84			80
DGPV entities ^(a)
Operating revenues	77			69			37
Operating income	25			23			7
Net income (loss)	(14		)	11			(3		)
Other ^(b)
Operating revenues	241			263			263
Operating income	85			103			92
Net income	$	64		$	75		$	59
				As of December 31,
				2019			2018
Balance Sheet Data:				(In millions)
GenConn
Current assets				$	37		$	43
Non-current assets				342			358
Current liabilities				16			22
Non-current liabilities				176			182
Desert Sunlight
Current assets				209			133
Non-current assets				1,296			1,298
Current liabilities				545			58
Non-current liabilities				484			962
DGPV entities ^(a)
Current assets				84			79
Non-current assets				898			784
Current liabilities				42			84
Non-current liabilities				411			314
Redeemable Noncontrolling Interest				(1		)	—
Other ^(b)
Current assets				195			150
Non-current assets				2,514			2,684
Current liabilities				767			59
Non-current liabilities				$	89		$	897

^(a)Includes DGPV Holdco 1, DGPV Holdco 2 and DGPV Holdco 3.

^(b)Includes Agua Caliente, Elkhorn Ridge, RPV Holdco 1, Utah Solar Portfolio and San Juan Mesa.

Schedule of variable interest entities

Summarized financial information for the Company's consolidated VIEs consisted of the following as of December 31, 2019:



(In millions)	Oahu Solar Partnership		Kawailoa Partnership		Repowering Partnership II LLC		Alta TE Holdco		Spring Canyon		Buckthorn Renewables, LLC		Other^(a)
Other current and non-current assets	$	27	$	24	$	31	$	55	$	3	$	6	$	4
Property, plant and equipment	188		147		340		381		86		214		9
Intangible assets	—		—		1		237		—		—		—
Total assets	215		171		372		673		89		220		13
Current and non-current liabilities	120		109		273		44		6		11		3
Total liabilities	120		109		273		44		6		11		3
Noncontrolling interest	42		52		77		48		32		66		—
Net assets less noncontrolling interests	$	53	$	10	$	22	$	581	$	51	$	143	$	10

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Leases - Future Minimum Lease Commitments Under Operating Leases (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 13
2020	13
2021	13
2022	13
2023	12
Thereafter	207
Total lease payments	$ 271

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Customers accounting for more than 10% of revenue

The Company generated more than 10% of its revenues from the following customers for the years ended December 31, 2019, 2018 and 2017:



	2019		2018		2017
Customer	Conventional (%)	Renewables (%)	Conventional (%)	Renewables (%)	Conventional (%)	Renewables (%)
SCE	21%	19%	20%	20%	21%	20%
PG&E	12%	10%	12%	11%	12%	11%

Segment reporting information



	Year ended December 31, 2017
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	336		$	501		$	172		$	—		$	1,009
Cost of operations	77			133			116			—			326
Depreciation and amortization	103			210			21			—			334
Impairment losses	—			44			—			—			44
General and administrative	—			—			—			19			19
Acquisition-related transaction and integration costs	—			—			—			3			3
Operating income (loss)	156			114			35			(22		)	283
Equity in earnings of unconsolidated affiliates	12			59			—			—			71
Other income, net	1			2			—			1			4
Loss on debt extinguishment	—			(3		)	—			—			(3		)
Interest expense, net	(49		)	(164		)	(10		)	(84		)	(307		)
Income (loss) before income taxes	120			8			25			(105		)	48
Income tax expense	—			—			—			72			72
Net Income (Loss)	120			8			25			(177		)	(24		)
Net Income (Loss) Attributable to Clearway Energy, Inc.	$	120		$	76		$	25		$	(237	)	(16		)



	Year ended December 31, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	346		$	485		$	201		$	—		$	1,032
Cost of operations	61			147			134			—			342
Depreciation and amortization	102			267			27			—			396
Impairment losses	—			14			19			—			33
General and administrative	—			1			3			25			29
Acquisition-related transaction and integration costs	—			—			—			3			3
Development costs	—			—			5			—			5
Operating income (loss)	183			56			13			(28		)	224
Equity in earnings of unconsolidated affiliates	9			74			—			—			83
Other income, net	2			6			—			1			9
Loss on debt extinguishment				(1		)	—			(15		)	(16		)
Interest expense, net	(59		)	(239		)	(18		)	(88		)	(404		)
Income (loss) before income taxes	135			(104		)	(5		)	(130		)	(104		)
Income tax benefit	—			—			—			(8		)	(8		)
Net Income (Loss)	135			(104		)	(5		)	(122		)	(96		)
Net Income (Loss) Attributable to Clearway Energy, Inc.	$	135		$	(33	)	$	(5	)	$	(108	)	$	(11	)
Balance Sheet
Equity investment in affiliates	$	94		$	1,089		$	—		$	—		$	1,183
Capital expenditures ^(a)	4			185			34			—			223
Total Assets	$	2,753		$	6,186		$	633		$	128		$	9,700

^(a) Includes accruals.



	Year ended December 31, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	337		$	523		$	193		$	—		$	1,053
Cost of operations	62			143			127			—			332
Depreciation and amortization	101			207			23			—			331
General and administrative	—			—			1			19			20
Acquisition-related transaction and integration costs	—			—			—			20			20
Development costs	—			—			2			1			3
Operating income (loss)	174			173			40			(40		)	347
Equity in earnings of unconsolidated affiliates	11			63			—			—			74
Other income, net	1			4			1			2			8
Loss on debt extinguishment	—			—			—			(7		)	(7		)
Interest expense, net	(51		)	(154		)	(12		)	(89		)	(306		)
Income (loss) before income taxes	135			86			29			(134		)	116
Income tax expense	—			—			—			62			62
Net Income (Loss)	135			86			29			(196		)	54
Net Income (Loss) Attributable to Clearway Energy, Inc.	$	135		$	186		$	29		$	(302	)	48
Balance Sheet
Equity investments in affiliates	$	98		$	1,074		$	—		$	—		$	1,172
Capital expenditures ^(a)	14			26			28			—			68
Total Assets	$	1,788		$	5,836		$	516		$	360		$	8,500

^(a) Includes accruals.

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2019	Jan. 31, 2020	Jun. 30, 2019
Class of Stock
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity Registrant Name	Clearway Energy, Inc.
Entity Tax Identification Number	46-1777204
Entity Central Index Key	0001567683
Document Type	10-K
Entity File Number	001-36002
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Public Float			$ 1,788,899,961
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Address, Address Line One	300 Carnegie Center, Suite 300
Entity Address, City or Town	Princeton
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08540
Entity Incorporation, State or Country Code	DE
City Area Code	609
Local Phone Number	608-1525
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Common Class A
Class of Stock
Entity Common Stock, Shares Outstanding		34,599,645
Title of 12(b) Security	Class A Common Stock, par value $0.01
Trading Symbol	CWEN.A
Security Exchange Name	NYSE
Common Class B
Class of Stock
Entity Common Stock, Shares Outstanding		42,738,750
Common Class C
Class of Stock
Entity Common Stock, Shares Outstanding		78,849,651
Title of 12(b) Security	Class C Common Stock, par value $0.01
Trading Symbol	CWEN
Security Exchange Name	NYSE
Common Class D
Class of Stock
Entity Common Stock, Shares Outstanding		42,738,750

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Reconciliation of cash and cash equivalents and restricted cash and funds deposited to cash flow

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statements of cash flows.



	Year ended December 31,
	2019		2018
	(In millions)
Cash and cash equivalents	$	155	$	407
Restricted cash	262		176
Cash, cash equivalents and restricted cash shown in the statements of cash flows	417		583

Disaggregation of revenue

The following tables represent the Company’s disaggregation of revenue from contracts with customers for the year ended December 31, 2019, along with the reportable segment for each category:



	Year ended December 31, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	5		$	545		$	120		$	670
Capacity revenue^(a)	348			—			54			402
Other revenues	—			10			30			40
Contract amortization	(7		)	(61		)	(3		)	(71		)
Mark-to-market for economic hedges	—			(9		)	—			(9		)
Total operating revenue	346			485			201			1,032
Less: Lease revenue	(353		)	(509		)	(2		)	(864		)
Less: Contract amortization	7			61			3			71
Total revenue from contracts with customers	$	—		$	37		$	202		$	239

^(a)See Note 17, Leases for the amounts of energy and capacity revenue that relate to leases and are accounted for under ASC 842.

The following tables represent the Company’s disaggregation of revenue from contracts with customers for the year ended December 31, 2018, along with the reportable segment for each category:



	Year ended December 31, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	5		$	572		$	120		$	697
Capacity revenue^(a)	337			—			50			387
Other revenues	—			13			26			39
Contract amortization	(5		)	(62		)	(3		)	(70		)
Total operating revenue	337			523			193			1,053
Less: Lease revenue	(342		)	(534		)	(2		)	(878		)
Less: Contract amortization	5			62			3			70
Total revenue from contracts with customers	$	—		$	51		$	194		$	245

^(a)See Note 17, Leases for the amounts of energy and capacity revenue that relate to leases and are accounted for under ASC 840

Contract balances

he following table reflects the contract assets and liabilities included on the Company’s balance sheet as of December 31, 2019:



(In millions)	December 31, 2019		December 31, 2018
Accounts receivable, net - Contracts with customers	$	34	$	35
Accounts receivable, net - Leases	82		69
Total accounts receivable, net	$	116	$	104

Schedule of asset retirement obligations

The following table represents the balance of ARO obligations as of December 31, 2019 and 2018, along with the additions and accretion related to the Company's ARO obligations for the year ended December 31, 2019:



(In millions)
Balance as of December 31, 2018	$	67
Revisions in estimates for current obligations/Additions	3
Accretion — expense	5
Balance as of December 31, 2019	$	75

Stockholders' Equity

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders' Equity

2019 Class C Common Stock Issuance

The Company sold a total of 5,405,405 shares of Class C common stock for net proceeds of $100 million on December 2, 2019. The Company utilized the proceeds of the offering to acquire 5,405,405 Class C units of Clearway Energy LLC. As a result of the Class C common stock issuance, the Company owns 57.01% of the economic interests of Clearway Energy LLC, with CEG retaining 42.99% of the economic interests of Clearway Energy LLC as of December 31, 2019.

2018 Class C Common Stock Issuance

On September 27, 2018, Clearway Energy, Inc. issued and sold 3,916,449 shares of Class C common stock for net proceeds of $75 million. The Company utilized the proceeds of the offering to acquire 3,916,449 Class C units of Clearway Energy LLC.

At-the-Market Equity Offering Program, or the ATM Program

Clearway Energy, Inc. is party to an equity distribution agreement with Barclays Capital Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and RBC Capital Markets, LLC, as sales agents. Pursuant to the terms of the equity distribution agreement, Clearway Energy, Inc. may offer and sell shares of its Class C common stock par value $0.01 per share, from time to time through the sales agents up to an aggregate sales price of $150 million through an at-the-market equity offering program, or the ATM Program. Clearway Energy, Inc. may also sell shares of its Class C common stock to any of the sales agents, as principals for its own account, at a price agreed upon at the time of sale.

The Company sold a total of 4,492,473 shares of Class C common stock for gross proceeds of $79 million during the year ended December 31, 2018. The Company incurred commission fees of $790 thousand during the year ended December 31, 2018.

The Company sold a total of 6,414,339 shares of Class C common stock for gross proceeds of $114 million since the inception of the ATM Program. Approximately $36 million of Class C common stock remains available for issuance under the ATM Program as of December 31, 2019.

Dividends to Class A and Class C common stockholders

The following table lists the dividends paid on the Company's Class A and Class C common stock during the year ended December 31, 2019:



	Fourth Quarter 2019		Third Quarter 2019		Second Quarter 2019		First Quarter 2019
Dividends per Class A share	$	0.20	$	0.20	$	0.20	$	0.20
Dividends per Class C share	$	0.20	$	0.20	$	0.20	$	0.20

Dividends on the Class A and Class C common stock are subject to available capital, market conditions, and compliance with associated laws, regulations and other contractual obligations. The Company expects that, based on current circumstances, comparable cash dividends will continue to be paid in the foreseeable future. The Company will continue to evaluate its capital allocation approach during the pendency of the PG&E Bankruptcy.

On February 18, 2020, the Company declared a quarterly dividend on its Class A and Class C common stock of $0.21 per share payable on March 16, 2020, to stockholders of record as of March 2, 2020.

The Company also authorized 10,000,000 shares of preferred stock, par value $0.01 per share. None of the shares of preferred stock have been issued.

Distributions to CEG in 2019

The following table lists the distributions paid to CEG during the year ended December 31, 2019 on Clearway Energy LLC's Class B and D units:



	Fourth Quarter 2019		Third Quarter 2019		Second Quarter 2019		First Quarter 2019
Distributions per Class B unit	$	0.20	$	0.20	$	0.20	$	0.20
Distributions per Class D unit	$	0.20	$	0.20	$	0.20	$	0.20

The portion of the distributions paid by Clearway Energy LLC to CEG is recorded as a reduction to the Company's noncontrolling interest balance. The portion of the distributions paid by Clearway Energy LLC to the Company was utilized to fund the dividends to the Class A and Class C common stockholders described above.

On February 18, 2020, Clearway Energy LLC declared a quarterly distribution on its Class B and Class D units of $0.21 per unit payable to CEG on March 16, 2020.

Distributions/Contributions to/from NRG in 2018

During 2018 the Company acquired the Drop Down Assets from NRG, as described in Note 3, Acquisitions and Dispositions. The difference between the cash paid and historical value of the acquired Drop Down Assets was recorded as a distribution to/contribution from NRG with the offset to noncontrolling interest. As the projects were owned by NRG prior to the Drop Down Assets acquisitions, the pre-acquisition income (loss) of such projects were recorded as attributable to NRG's noncontrolling interest. Prior to the date of acquisition, certain of the projects made distributions to NRG and NRG made contributions into certain projects. These amounts are reflected within the Company’s statement of stockholders’ equity as changes in the noncontrolling interest balance.

Income Taxes (Deferred) (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred Tax Liabilities, Gross [Abstract]
Total deferred tax assets, net of valuation allowance	$ 227,000,000	$ 192,000,000
Deferred Tax Liabilities, Gross	227,000,000	192,000,000
Deferred Tax Assets, Gross [Abstract]
Interest expense disallowance carryforward - Investment in Projects	50,000,000	28,000,000
Production tax credits	9,000,000	8,000,000
Investment tax credits	5,000,000	5,000,000
U.S. Federal net operating loss carryforwards	215,000,000	199,000,000
Capital loss carryforwards	12,000,000	12,000,000
State net operating loss carryforwards	43,000,000	12,000,000
Total deferred tax assets	334,000,000	264,000,000
Valuation allowance	15,000,000	15,000,000
Total deferred tax assets, net of valuation allowance	319,000,000	249,000,000
Net deferred noncurrent tax asset	92,000,000	57,000,000
Net deferred tax asset	92,000,000	57,000,000
Unrecognized tax positions	$ 0
NRG
Deferred Tax Assets, Gross [Abstract]
State net operating loss carryforwards		$ 22,000,000

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net loss	$ (96)	$ 54	$ (24)
Other Comprehensive Income (Loss), net of tax
Unrealized gain on derivatives, net of income tax expense of $1, $2, and $7	7	22	10
Other comprehensive income	7	22	10
Comprehensive (Loss) Income	(89)	76	(14)
Less: Pre-acquisition net income of Drop Down Assets	0	4	7
Less: Comprehensive (loss) income attributable to noncontrolling interests	(81)	14	(5)
Comprehensive (Loss) Income Attributable to Clearway Energy, Inc.	$ (8)	$ 58	$ (16)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
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-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3000-108585

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686

+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities
Net loss	$ (96)	$ 54	$ (24)
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates	(83)	(74)	(71)
Distributions from unconsolidated affiliates	34	70	72
Depreciation and amortization	396	331	334
Amortization of financing costs and debt discounts	17	24	25
Amortization of intangibles and out-of-market contracts	71	70	70
Loss on debt extinguishment	16	7	3
Right-of-use asset amortization	7
Change in deferred income taxes	(8)	62	72
Impairment losses	33	0	44
Changes in derivative instruments	85	(16)	(15)
Loss on disposal of asset components	9	0	16
Changes in prepaid and accrued capacity payments	1	0	(4)
Changes in other working capital	(5)	(30)	(5)
Net Cash Provided by Operating Activities	477	498	517
Cash Flows from Investing Activities
Acquisition of assets	(100)	(11)	0
Partnership interest acquisition	(29)	0
Acquisition of Drop Down Assets, net of cash acquired	(161)	(126)	(250)
Capital expenditures	(228)	(83)	(190)
Buyout of Wind TE Holdco non-controlling interest	(19)	0	0
Cash receipts from notes receivable	0	13	17
Return of investment from unconsolidated affiliates	56	45	47
Investments in unconsolidated affiliates	(13)	(34)	(73)
Proceeds from sale of HSD Solar Holdings, LLC assets	20	0	0
Other	6	11	7
Net Cash Provided by (Used in) Investing Activities	(468)	(185)	(442)
Cash Flows from Financing Activities
Net contributions from noncontrolling interests	174	91	13
Net distributions and return of capital to NRG prior to the acquisition of Drop Down Assets	0	0	(23)
Proceeds from the issuance of common stock	100	153	34
Payments of dividends and distributions	(155)	(238)	(202)
Proceeds from the revolving credit facility	152	35	55
Payments for the revolving credit facility	(152)	(90)	0
Proceeds from issuance of long-term debt	1,215	827	210
Payments of debt issuance costs	(25)	(14)	(12)
Payments for long-term debt	(1,484)	(810)	(332)
Net Cash (Used in) Provided by Financing Activities	(175)	(46)	(257)
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash	(166)	267	(182)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	583	316	498
Cash, Cash Equivalents and Restricted Cash at End of Period	417	583	316
Interest paid, net of amount capitalized	(313)	(292)	(297)
(Reductions) Additions to fixed assets for accrued capital expenditures	(2)	(15)	22
Non-cash adjustment for change in tax basis	28	(7)	(20)
Non-cash contributions from CEG, NRG, net of distributions	$ 36	$ 38	$ (2)

Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of long-term debt



(In millions)	December 31, 2019		December 31, 2018
Interest expense^(a)	$	2	$	19
Debt discount amortization	1		9
Debt issuance costs amortization	—		3
	$	3	$	31

^(a) Interest expense is calculated using coupon rate of 3.25% and 3.50% for 2020 and 2019 Convertible Notes, respectively.

The Company's borrowings, including short term and long term portions consisted of the following:



	December 31, 2019			December 31, 2018			Interest rate % ^(a)	Letters of Credit Outstanding at December 31, 2019
	(In millions, except rates)
2019 Convertible Notes	$	—		$	220		3.500
2020 Convertible Notes	45			45			3.250
2024 Senior Notes ^(b)	88			500			5.375
2025 Senior Notes	600			600			5.750
2026 Senior Notes	350			350			5.000
2028 Senior Notes	600			—			4.750
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2019 ^(c)	—			—			L+1.75	$	70
Project-level debt:
Agua Caliente Borrower 2, due 2038 ^(d)	—			39			5.430	14
Alpine, due 2022 ^(d)	119			127			L+2.00	16
Alta Wind I - V lease financing arrangements, due 2034 and 2035	844			886			5.696 - 7.015	45
Buckthorn Solar, due 2025	129			132			L+1.750	26
Carlsbad Holdco, due 2038	216			—			4.210	5
Carlsbad Energy Holdings LLC, due 2027	582			—			L +1.625/4.12	87
CVSR, due 2037 ^(d)	696			720			2.339 - 3.775	—
CVSR Holdco Notes, due 2037 ^(d)	182			188			4.680	13
Duquesne, due 2059	95			—			4.620
El Segundo Energy Center, due 2023	303			352			L+1.75 - L+2.375	138
Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037	328			328			various	—
Laredo Ridge, due 2028	84			89			L+2.125	10
Kansas South, due 2030 ^(d)	24			26			L+2.25	2
Kawailoa Solar Holdings LLC, due 2026	82			—			L+1.375	13
Marsh Landing, due 2023 ^(d)	206			263			L+2.125	27
Oahu Solar Holdings LLC, due 2026	91			—			L+1.375	17
Repowering Partnership Holdco LLC, due 2020	228			—			L+.85	4
South Trent Wind, due 2028	43			50			L+1.350	12
Tapestry, due 2031	156			151			L+1.375	18
Utah Solar Portfolio, due 2022	254			267			L+2.625	13
Viento, due 2023	42			146			L+2.00	14
Walnut Creek, due 2023	175			222			L+1.75	74
Other	296			343			various	24
Subtotal project-level debt	5,175			4,329
Total debt	6,858			6,044
Less current maturities	(1,824		)	(535		)
Less net debt issuance costs	(78		)	(61		)
Less discounts^(e)	—			(1		)
Total long-term debt	$	4,956		$	5,447

^(b) Repurchased in January 2020 as part of the 2024 Senior Notes Tender Offer, as further described below

^(c) Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement

^(d) Entities affected by PG&E Bankruptcy, see further discussion below

^(e)Discounts relate to the 2020 Convertible Notes

Series E,F,G,H interest rates



(In millions)	Amount			Interest Rate
Energy Center Minneapolis Series E Notes, due 2033	$	70		4.80	%
Energy Center Minneapolis Series F Notes, due 2033	10			4.60	%
Energy Center Minneapolis Series G Notes, due 2035	83			5.90	%
Energy Center Minneapolis Series H Notes, due 2037	40			4.83	%
Total proceeds	$	203
Repayment of Energy Center Minneapolis Series C Notes, due 2025	(83		)	5.95	%
Net borrowings	$	120

Summary of swaps related to the Company's project level debt

The following table summarizes the swaps, some of which are forward starting as indicated, related to the Company's project level debt as of December 31, 2019:



	% of Principal		Fixed Interest Rate		Floating Interest Rate	Notional Amount at December 31, 2019 (In millions)		Effective Date	Maturity Date
Alpine	85	%	various		3-Month LIBOR	$	101	various	various
Avra Valley	86	%	2.333	%	3-Month LIBOR	41		November 30, 2012	November 30, 2030
AWAM	100	%	2.47	%	3-Month LIBOR	15		May 22, 2013	May 15, 2031
Blythe	75	%	3.563	%	3-Month LIBOR	11		June 25, 2010	June 25, 2028
Buckthorn Solar	82	%	various		3-Month LIBOR	106		February 28, 2018	December 31, 2041
El Segundo	95	%	various		3-Month LIBOR	288		various	various
Kansas South	75	%	2.368	%	6-Month LIBOR	18		June 28, 2013	December 31, 2030
Laredo Ridge	80	%	2.31	%	3-Month LIBOR	67		December 17, 2014	December 31, 2028
Marsh Landing	94	%	3.244	%	3-Month LIBOR	195		June 28, 2013	June 30, 2023
Roadrunner	76	%	4.313	%	3-Month LIBOR	22		September 30, 2011	December 31, 2029
South Trent	95	%	3.847	%	3-Month LIBOR	39		June 14, 2019	June 30, 2028
Tapestry	75	%	various		3-Month LIBOR	117		April 19, 2019	December 31, 2031
Tapestry	50	%	3.57	%	3-Month LIBOR	12		December 21, 2021	December 21, 2029
Utah Solar Portfolio	80	%	various		1-Month LIBOR	203		various	September 30, 2036
Viento Funding II	93	%	various		6-Month LIBOR	39		various	various
Viento Funding II	100	%	4.985	%	6-Month LIBOR	21		July 11, 2023	June 30, 2028
Walnut Creek Energy	90	%	various		3-Month LIBOR	158		June 28, 2013	May 31, 2023
WCEP Holdings	100	%	4.003	%	3-Month LIBOR	39		June 28, 2013	May 31, 2023
Oahu Solar	96	%	various		3-Month LIBOR	88		November 30, 2019	October 31, 2040
Kawailoa Renew	94	%	various		3-Month LIBOR	77		November 30, 2019	October 31, 2040
Carlsbad	75	%	various		3-Month LIBOR	131		October 31, 2018	September 30, 2027
Total						$	1,788

Schedule of annual payments based on the maturities of NRG Yield's debt

Annual payments based on the maturities of the Company's debt, for the years ending after December 31, 2019, are as follows:



	(In millions)
2020	$	1,832
2021	249
2022	478
2023	319
2024	129
Thereafter	3,851
Total	$	6,858

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details

Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

Adoption of Topic 842

The Company adopted ASU No. 2016-02, Leases (Topic 842), or Topic 842, on January 1, 2019 using the modified retrospective transition method and therefore, prior period financial information has not been adjusted and continues to be reflected in accordance with the Company’s historical accounting policy. Topic 842 requires the establishment of a lease liability and related right-of-use, or ROU, asset for all leases with a term longer than 12 months. The Company elected certain of the permitted practical expedients, including the expedient that permits the Company to retain its existing lease assessment and classification. The Company also elected to account for lease and non-lease components for specific asset classes as a single lease component.

The adoption of the standard resulted in the recording of operating lease liabilities of $165 million and related ROU assets of $159 million. There was no impact to the Company’s consolidated statement of operations or cash flows. The Company utilized its incremental borrowing rate at adoption date, ranging from 4.04% - 4.67%, to determine the amount of the lease liabilities.

Accounting for Leases

The Company evaluates each arrangement at inception to determine if it contains a lease. All of the Company’s leases are operating leases as of December 31, 2019.

Lessee

The Company records its operating lease liabilities at the present value at lease commencement date of the lease payments over the lease term. Lease payments include fixed payment amounts, as well as variable rate payments based on an index initially measured at lease commencement date. Variable payments, including payments based on future performance and based on index changes, are recorded as the expense is incurred. The Company determines the relevant lease term by evaluating whether renewal and termination options are reasonably certain to be exercised. The Company uses its incremental borrowing rate to calculate the present value of the lease payments, based on information available at the lease commencement date.

The Company’s leases consist of land leases for numerous operating asset locations, real estate leases and equipment leases. The terms and conditions for these leases vary by the type of underlying asset.

Lease expense for the year ended December 31, 2019 was comprised of the following:



(In millions)
Operating lease cost	$	13
Variable lease cost	8
Total lease cost	$	21

Lease expense under operating leases was $18 million and $17 million for the years ended December 31, 2018 and 2017, respectively.

Operating lease information as of December 31, 2019 was as follows:



(In millions, except term and rate)
ROU Assets - operating leases, net	$	223

Short-term lease liability - operating leases ^(a)	7
Long-term lease liability - operating leases	227
Total lease liability	$	234

Cash paid for operating leases	$	15
Weighted average remaining lease term	25
Weighted average discount rate	4.4%

^(a) Short-term lease liability balances are included within the accrued expenses and other current liabilities line item of the consolidated balance sheets as of December 31, 2019.

Maturities of operating lease liabilities as of December 31, 2019 are as follows:



(In millions)
2020	$	16
2021	16
2022	16
2023	15
2024	16
Thereafter	303
Total lease payments	382
Less imputed interest	(148		)
Total lease liability - operating leases	$	234

Maturities of operating lease liabilities as of December 31, 2018 under the ASC 840 were as follows:



(In millions)
2019	13
2020	13
2021	13
2022	13
2023	12
Thereafter	207
Total lease payments	$	271

Oahu Solar Lease Agreements

The Oahu Solar projects are party to various land lease agreements with a wholly owned subsidiary of CEG. the projects are leasing the land for a period of 35 years, with the ability to renew the lease for two additional five year periods. the Company has a lease liability of $21 million and corresponding right-of-use asset of $19 million related to the leases as of December 31, 2019.

Lessor

The majority of the Company’s revenue is obtained through PPAs or other contractual agreements that are accounted for as leases. These leases are comprised of both fixed payments and variable payments contingent upon volumes or performance metrics. The terms of the leases are further described in Item 2 — Properties of this Form 10-K. Many of the leases have renewal options at the end of the lease term. Termination may be allowed under specific circumstances in the lease arrangements, such as under an event of default. All of the Company’s leases are operating leases. Certain of these leases have both lease and non-lease components, and the Company allocates the transaction price to the components based on standalone selling prices. The following amounts of energy and capacity revenue are related to the Company’s leases:



Period ended December 31, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	5	$	509	$	2	$	516
Capacity revenue	348		—		—		348
Operating revenue	$	353	$	509	$	2	$	864



Period ended December 31, 2018
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	5	$	534	$	2	$	541
Capacity revenue	337		—		—		337
Operating revenue	$	342	$	534	$	2	$	878

Minimum future rent payments for the remaining periods relate to the Conventional segment and were as follows as of December 31, 2019:



(In millions)
2020	439
2021	444
2022	450
2023	259
2024	106
Thereafter	1,605
Total lease payments	$	3,303

Property, plant and equipment, net related to the Company’s operating leases were as follows as of December 31, 2019:



(In millions)
Property, plant and equipment	$	6,942
Accumulated depreciation	(1,649		)
Net property, plant and equipment	$	5,293

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Schedule of property, plant and equipment

The Company’s major classes of property, plant, and equipment were as follows:



	December 31, 2019			December 31, 2018			Depreciable Lives
	(In millions)
Facilities and equipment	$	7,676		$	6,638		2 - 45 Years
Land and improvements	173			171
Construction in progress ^(a)	94			26
Total property, plant and equipment	7,943			6,835
Accumulated depreciation	(1,880		)	(1,590		)
Net property, plant and equipment	$	6,063		$	5,245

^(a) As of December 31, 2019 and 2018, construction in progress includes $10 million and $6 million of capital expenditures that relate to prepaid long-term service agreements in the Conventional segment, respectively.

Asset Impairments	12 Months Ended
Asset Impairments	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Asset impairments	Asset Impairments 2019 Impairment Losses The Company recorded an impairment loss of $19 million related to a facility in the Thermal segment during the second quarter of 2019. The impairment was triggered by a potential sale negotiation with a third party which resulted in signing the purchase and sale agreement in September, as further described in Note 3, Acquisitions and Dispositions. The fair value of the facility was determined using an income approach by applying a discounted cash flow methodology to the long-term budgets for each respective plant. The income approach utilized estimates of discounted future cash flows, which were Level 3 fair value measurement and include key inputs, such as forecasted power prices, operations and maintenance expense, and discount rates. The Company measured the impairment loss as the difference between the carrying amount and the fair value of the assets. Additionally, during the fourth quarter of 2019, as a result of the preparation and review of its annual budget and assessment of long-term merchant power prices, the Company updated its estimated future cash flows and determined that the future cash flows for several wind projects from the Renewables segment no longer supported the recoverability of the related long-lived asset. As such, the Company recorded an impairment loss of $14 million to reflect the assets at fair market value. The fair value of the facilities was determined using an income approach by applying a discounted cash flow methodology to the long-term budgets for each respective plant. The income approach included key inputs such as forecasted merchant power prices, operations and maintenance expense, and discount rates. The resulting fair value is a Level 3 fair value measurement. 2017 Impairment Losses During the fourth quarter of 2017, as the Company updated its estimated cash flows in connection with the preparation and review of the Company's annual budget, the Company determined that the cash flows for Elbow Creek, located in Texas, and the Forward project, located in Pennsylvania, were below the carrying value of the related assets, primarily driven by continued declining merchant power prices in post-contract periods, and that the assets were considered impaired. The fair value of the facilities was determined using an income approach by applying a discounted cash flow methodology to the long-term budgets for each respective plant. The income approach utilized estimates of discounted future cash flows, which were Level 3 fair value measurement and include key inputs, such as forecasted power prices, operations and maintenance expense, and discount rates. The Company measured the impairment loss as the difference between the carrying amount and the fair value of the assets and recorded impairment losses of $26 million and $5 million for Elbow Creek and Forward, respectively. Additionally, during the quarter ended September 30, 2017, in connection with the preparation of the model for sale of the November 2017 Drop Down Assets, it was identified that undiscounted cash flows were lower than the book value of certain SPP funds and NRG recorded an impairment expense of $13 million, $8 million of which relates to property, plant, and equipment and $5 million to PPAs, as described in Note 8, Intangible Assets. In accordance with the guidance for transfer of assets under common control, the impairment is reflected in the pre-acquisition net income of Drop Down Assets of the Company's consolidated statements of operations for the period ended December 31, 2017.

Unaudited Quarterly Financial Data

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Financial Data

Unaudited Quarterly Data

Below is summarized unaudited quarterly financial data for the periods ending December 31, 2019 and 2018.



	Quarter Ended
	December 31,			September 30,			June 30,			March 31,
	2019
	(In millions, except per share data)
Operating Revenues	$	235		$	296		$	284		$	217
Operating Income	6			90			87			41
Net (Loss) Income	(48		)	35			(36		)	(47		)
Net (Loss) Attributable to Clearway Energy, Inc.	$	(6	)	$	39		$	(24	)	$	(20	)
Weighted average number of Class A common shares outstanding — basic	35			35			35			35
Weighted average number of Class A common shares outstanding — diluted	35			35			35			35
Weighted average number of Class C common shares outstanding — basic	75			73			73			73
Weighted average number of Class C common shares outstanding — diluted	75			75			73			73
(Loss) Earnings per Weighted Average Common Share Basic and Diluted	$	(0.06	)	$	(0.36	)	$	(0.22	)	$	(0.18	)



	Quarter Ended
	December 31,			September 30,		June 30,		March 31,
	2018
	(In millions, except per share data)
Operating Revenues	$	229		$	292	$	307	$	225
Operating Income	54			100		144		49
Net (Loss) Income	(91		)	49		96		—
Net (Loss) Income Attributable to Clearway Energy, Inc.	$	(68	)	$	21	$	79	$	16
Weighted average number of Class A common shares outstanding — basic	35			35		35		35
Weighted average number of Class A common shares outstanding — diluted	35			35		49		35
Weighted average number of Class C common shares outstanding — basic	73			69		67		65
Weighted average number of Class C common shares outstanding — diluted	73			69		78		65
(Loss) Earnings per Weighted Average Class A and Class C Common Share - Basic	$	(0.63	)	$	0.20	$	0.77	$	0.16
(Loss) Earnings per Weighted Average Class A Common Share - Diluted	$	(0.63	)	$	0.20	$	0.61	$	0.16
(Loss) Earnings per Weighted Average Class C Common Share - Diluted	$	(0.63	)	$	0.20	$	0.70	$	0.16

Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible Assets

Intangible Assets — The Company's intangible assets as of December 31, 2019 and 2018 primarily reflect intangible assets established from its business acquisitions and are comprised of the following:


•	PPAs — Established predominantly with the acquisitions of the Alta Wind Portfolio, Walnut Creek, Tapestry, Laredo Ridge and Carlsbad Energy Center. These represent the fair value of the PPAs acquired. These are amortized on a straight-line basis, over the term of the PPA.


•	Leasehold Rights — Established with the acquisition of the Alta Wind Portfolio, this represents the fair value of contractual rights to receive royalty payments equal to a percentage of PPA revenue from certain projects. These are amortized as a reduction to operating revenue on a straight-line basis over the term of the PPAs.


•	Customer relationships — Established with the acquisition of Energy Center Omaha and Energy Center Phoenix, these intangibles represent the fair value at the acquisition date of the businesses' customer base. The customer relationships related to Energy Center Omaha are amortized as a reduction to operating revenue, which approximates the expected discounted future net cash flows by year.


•	Customer contracts — Established with the acquisition of Energy Center Phoenix, these intangibles represent the fair value at the acquisition date of contracts that primarily provide chilled water, steam and electricity to its customers.

These contracts are amortized to revenues based on expected volumes.


•	Emission Allowances — These intangibles primarily consist of SO₂ and NOx emission allowances established with the El Segundo, Walnut Creek and Carlsbad Energy Center acquisitions. These emission allowances are held-for-use and are amortized to cost of operations, with NOx allowances amortized on a straight-line basis and SO₂ allowances amortized based on units of production.


•	Other — Consists of a) the acquisition date fair value of the contractual rights to a ground lease for South Trent and to utilize certain interconnection facilities for Blythe, as well as land rights acquired in connection with the acquisition of Elbow Creek, and b) development rights related to certain solar businesses acquired in 2010 and 2011.

The following tables summarize the components of intangible assets subject to amortization:



Year ended December 31, 2019	PPAs			Leasehold Rights			Customer Relationships			Customer Contracts			Emission Allowances			Other			Total
(In millions)
January 1, 2019	$	1,280		$	86		$	66		$	15		$	9		$	8		$	1,464
Acquisition of Carlsbad Energy Center	350			—			—			—			8			—			358
December 31, 2019	$	1,630		$	86		$	66		$	15		$	17		$	8		$	1,822
Less accumulated amortization	(347		)	(22		)	(9		)	(10		)	(2		)	(4		)	(394		)
Net carrying amount	$	1,283		$	64		$	57		$	5		$	15		$	4		$	1,428



Year ended December 31, 2018	PPAs			Leasehold Rights			Customer Relationships			Customer Contracts			Emission Allowances			Other			Total
(In millions)
December 31, 2018	$	1,280		$	86		$	66		$	15		$	9		$	8		$	1,464
Less accumulated amortization	(269		)	(18		)	(7		)	(9		)	(2		)	(3		)	(308		)
Net carrying amount	$	1,011		$	68		$	59		$	6		$	7		$	5		$	1,156

The Company recorded amortization expense of $73 million during the year ended December 31, 2019 and $71 million for the years ended December 31, 2018 and December 31, 2017. Of these amounts, $72 million for the year ended December 31, 2019 and $70 million for the years ended December 31, 2018 and December 31, 2017, were recorded to contract amortization expense and reduced operating revenues in the consolidated statements of operations. The Company estimates the future amortization expense for its intangibles for the next five years as follows:



	(In millions)

2020	$	90
2021	90
2022	90
2023	87
2024	$	84

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Effective Tax Rate

The income tax provision consisted of the following amounts:



	Year Ended December 31,
	2019			2018		2017
	(In millions, except percentages)
Current
U.S. Federal	$	—		$	—	$	—
State	—			—		—
Total — current	—			—		—
Deferred
U.S. Federal	(4		)	28		75
State	(4		)	34		(3		)
Total — deferred	(8		)	62		72
Total income tax (benefit) expense	$	(8	)	$	62	$	72

A reconciliation of the U.S. federal statutory rate of 21% beginning for the year-ended December 31, 2018 and 35% for the year-ended December 31, 2017 to the Company's effective rate is as follows:



	Year Ended December 31,
	2019			2018			2017
	(In millions, except percentages)
Income Before Income Taxes	$	(104	)	$	116		$	48
Tax at 21%/35%	(22		)	24			17
State taxes, net of federal benefit	(7		)	8			(3		)
Deferred state rate change due to deconsolidation from NRG	—			20			—
Tax Cuts and Jobs Act - tax rate change	—			—			68
Impact of non-taxable equity earnings	24			8			(9		)
Investment tax credits	(1		)	(3		)	(1		)
Production tax credits, including prior year true-up	(1		)	(1		)	(1		)
Valuation allowance adjustment	—			3			—
Other	(1		)	3			1
Income tax (benefit) expense	$	(8	)	$	62		$	72
Effective income tax rate	7.7		%	53.4		%	150.0		%

For the year ended December 31, 2019, the overall effective tax rate was different than the statutory rate of 21% primarily due to the taxable earnings and losses allocated to partners’ interest in Clearway Energy LLC, which includes the effects of applying HLBV method of accounting for book purposes of certain partnerships.

For the year ended December 31, 2018, the overall effective tax rate was different than the statutory rate of 21% primarily due to higher state income tax rate following the Company’s separation from NRG, as well as taxable earnings and losses allocated to partners’ interest in Clearway Energy LLC, which includes the effects of applying HLBV method of accounting for book purposes of certain partnerships. In 2018, the Company has completed the accounting for all of the income tax effects related to the Tax Cuts and Jobs Act, which resulted in no material adjustments in 2018 to the provisional amounts recorded in 2017.

For the year ended December 31, 2017, the overall effective tax rate was different than the statutory rate of 35% primarily due to tax expense recorded from the revaluation of the existing net deferred tax asset pursuant to the reduction in the corporate income tax rate to 21% in accordance with the Tax Cuts and Jobs Act. In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, which addresses how a company may recognize provisional amounts for the effect of the changes related to the Tax Act. Consistent with that guidance, the Company recognized provisional amounts at December 31, 2017, based upon its interpretation of the tax laws and estimates which require significant judgments.

For tax purposes, Clearway Energy LLC is treated as a partnership; therefore, the Company and CEG each record their respective share of taxable income or loss.

The temporary differences, which gave rise to the Company's deferred tax assets, consisted of the following:



	As of December 31,
	2019			2018
	(In millions)
Deferred tax liabilities:
Investment in projects	$	227		$	192
Total deferred tax liabilities	227			192
Deferred tax assets:
Interest expense disallowance carryforward - Investment in Projects	50			28
Production tax credits	9			8
Investment tax credits	5			5
U.S. Federal net operating loss carryforwards	215			199
Capital loss carryforwards	12			12
State net operating loss carryforwards	43			12
Total deferred tax assets	334			264
Valuation allowance	$	(15	)	$	(15	)
Total deferred tax assets, net of valuation allowance	$	319		$	249
Net deferred noncurrent tax asset	$	92		$	57

The primary driver for the increase in the net deferred tax asset from $57 million to $92 million as of December 31, 2019, is the increase in federal and state NOLs and interest expense disallowance carryforwards, partially offset by tax losses reducing the Company's investment in Clearway Energy, LLC. As discussed in Note 2, Summary of Significant Accounting Policies, NRG allocated $22 million to the Company in tax-effected state NOLs, which was recorded as a non-cash adjustment to the consolidated statements of stockholders' equity for the year ended December 31, 2019.

Tax Receivable and Payable

As of December 31, 2019, the Company has no current or long term tax receivable or payable to be recorded.

Deferred Tax Assets and Valuation Allowance

Net deferred tax balance — As of December 31, 2019 and 2018, the Company recorded a net deferred tax asset of $92 million and $57 million, respectively. The Company believes it is more likely than not that the results of future operations will generate sufficient taxable income which includes the future reversal of existing taxable temporary differences to realize deferred tax assets. The Company considered the profit before tax generated in recent years, as well as projections of future earnings and estimates of taxable income in arriving at this conclusion. The Company believes that $15 million, a deferred tax asset, for which there are no existing capital gains or available tax planning strategies to utilize the asset in the future may not be realized, resulting in the recording of a valuation allowance.

NOL carryforwards — As of December 31, 2019, the Company had domestic NOLs carryforwards for federal income tax purposes of $215 million and cumulative state NOLs of $43 million tax-effected.

Interest disallowance carryforward — As of December 31, 2019, the Company has a deferred tax asset of $50 million related to disallowed interest expense under the proposed IRC §163(j) regulation.

The disallowed interest deduction has an indefinite carry forward period and any limitations on the utilization of this carryforward have been factored into the valuation allowance analysis. These are proposed regulations which are not final and are subject to change in the regulatory review process.

Uncertain Tax Positions

The Company had no identified uncertain tax positions that require evaluation as of December 31, 2019.

Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Unrealized gain/loss on derivatives, income tax expense	$ 1	$ 2	$ 7

Fair Value of Financial Instruments - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jun. 30, 2019 USD ($)	Jan. 29, 2019 facility MW
Nature of Business [Line Items]
Percent of derivative liabilities using level 3 fair value inputs			10.00%
Fair value assets, measured on recurring basis, valuation techniques, impact of credit reserve to fair value \| $			$ 4
PG&E
Nature of Business [Line Items]
Steam and chilled water capacity, megawatts thermal equivalent \| MW				480
Number of solar leases in portfolio \| facility				6
Accounts receivable, related parties \| $			16
Accounts receivable, related parties, noncurrent \| $			$ 5
Marsh Landing
Nature of Business [Line Items]
Steam and chilled water capacity, megawatts thermal equivalent \| MW				720
Solar Facilities \| PG&E
Nature of Business [Line Items]
Steam and chilled water capacity, megawatts thermal equivalent \| MW				480
Solar Facilities \| Marsh Landing
Nature of Business [Line Items]
Steam and chilled water capacity, megawatts thermal equivalent \| MW				720
Fair Value, Inputs, Level 3 \| Fair Value, Measurements, Recurring
Nature of Business [Line Items]
Total losses for the period included in earnings \| $	$ (3)	$ 0

Segment Reporting (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
Segment Reporting (Details) - USD ($) $ in Millions	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting
Total operating revenues	$ 235	$ 296	$ 284	$ 217	$ 229	$ 292	$ 307	$ 225	$ 1,032	$ 1,053	$ 1,009
Cost of operations									342	332	326
Depreciation and amortization									396	331	334
Impairment losses									33	0	44
General and administrative									29	20	19
Transaction and integration costs									3	20	3
Development costs									5	3	0
Operating Income	6	90	87	41	54	100	144	49	224	347	283
Equity in earnings of unconsolidated affiliates									83	74	71
Other income, net									9	8	4
Loss on debt extinguishment									(16)	(7)	(3)
Interest expense, net									(404)	(306)	(307)
Income before income taxes									(104)	116	48
Income tax (benefit) expense									(8)	62	72
Net (Loss) Income	(48)	$ 35	(36)	$ (47)	(91)	$ 49	$ 96	$ 0	(96)	54	(24)
Net Income (Loss) Attributable to Clearway Energy, Inc.									(11)	48	$ (16)
Equity investments in affiliates	1,183				1,172				1,183	1,172
Capital expenditures	223				68				223	68
Total Assets	9,700				8,500				$ 9,700	$ 8,500
Renewables
Segment Reporting
Impairment losses	14
Thermal
Segment Reporting
Impairment losses			$ 19
Southern California Edison \| Conventional Generation
Segment Reporting
Customer's percentage of total revenue									21.00%	20.00%	21.00%
Southern California Edison \| Renewables
Segment Reporting
Customer's percentage of total revenue									19.00%	20.00%	20.00%
PG&E \| Conventional Generation
Segment Reporting
Customer's percentage of total revenue									12.00%	12.00%	12.00%
PG&E \| Renewables
Segment Reporting
Customer's percentage of total revenue									10.00%	11.00%	11.00%
Operating Segments \| Conventional Generation
Segment Reporting
Total operating revenues									$ 346	$ 337	$ 336
Cost of operations									61	62	77
Depreciation and amortization									102	101	103
Impairment losses									0		0
General and administrative									0	0	0
Transaction and integration costs									0	0	0
Development costs									0	0
Operating Income									183	174	156
Equity in earnings of unconsolidated affiliates									9	11	12
Other income, net									2	1	1
Loss on debt extinguishment										0	0
Interest expense, net									(59)	(51)	(49)
Income before income taxes									135	135	120
Income tax (benefit) expense									0	0	0
Net (Loss) Income									135	135	120
Net Income (Loss) Attributable to Clearway Energy, Inc.									135	135	120
Equity investments in affiliates	94				98				94	98
Capital expenditures	4				14				4	14
Total Assets	2,753				1,788				2,753	1,788
Operating Segments \| Renewables
Segment Reporting
Total operating revenues									485	523	501
Cost of operations									147	143	133
Depreciation and amortization									267	207	210
Impairment losses									14		44
General and administrative									1	0	0
Transaction and integration costs									0	0	0
Development costs									0	0
Operating Income									56	173	114
Equity in earnings of unconsolidated affiliates									74	63	59
Other income, net									6	4	2
Loss on debt extinguishment									(1)	0	(3)
Interest expense, net									(239)	(154)	(164)
Income before income taxes									(104)	86	8
Income tax (benefit) expense									0	0	0
Net (Loss) Income									(104)	86	8
Net Income (Loss) Attributable to Clearway Energy, Inc.									(33)	186	76
Equity investments in affiliates	1,089				1,074				1,089	1,074
Capital expenditures	185				26				185	26
Total Assets	6,186				5,836				6,186	5,836
Operating Segments \| Thermal
Segment Reporting
Total operating revenues									201	193	172
Cost of operations									134	127	116
Depreciation and amortization									27	23	21
Impairment losses									19		0
General and administrative									3	1	0
Transaction and integration costs									0	0	0
Development costs									5	2
Operating Income									13	40	35
Equity in earnings of unconsolidated affiliates									0	0	0
Other income, net									0	1	0
Loss on debt extinguishment									0	0	0
Interest expense, net									(18)	(12)	(10)
Income before income taxes									(5)	29	25
Income tax (benefit) expense									0	0	0
Net (Loss) Income									(5)	29	25
Net Income (Loss) Attributable to Clearway Energy, Inc.									(5)	29	25
Equity investments in affiliates	0				0				0	0
Capital expenditures	34				28				34	28
Total Assets	633				516				633	516
Corporate
Segment Reporting
Total operating revenues									0	0	0
Cost of operations									0	0	0
Depreciation and amortization									0	0	0
Impairment losses									0		0
General and administrative									25	19	19
Transaction and integration costs									3	20	3
Development costs									0	1
Operating Income									(28)	(40)	(22)
Equity in earnings of unconsolidated affiliates									0	0	0
Other income, net									1	2	1
Loss on debt extinguishment									(15)	(7)	0
Interest expense, net									(88)	(89)	(84)
Income before income taxes									(130)	(134)	(105)
Income tax (benefit) expense									(8)	62	72
Net (Loss) Income									(122)	(196)	(177)
Net Income (Loss) Attributable to Clearway Energy, Inc.									(108)	(302)	$ (237)
Equity investments in affiliates	0				0				0	0
Capital expenditures	0				0				0	0
Total Assets	$ 128				$ 360				$ 128	$ 360

Long-term Debt - Series E,F,G,H Notes (Details) $ in Millions	Jun. 19, 2018 USD ($)
Energy Center Minneapolis Series E Notes
Debt Instrument [Line Items]
Proceeds from energy center notes	$ 70
Interest rate, percentage	4.80%
Energy Center Minneapolis Series F Notes
Debt Instrument [Line Items]
Proceeds from energy center notes	$ 10
Interest rate, percentage	4.60%
Energy Center Minneapolis Series G Notes
Debt Instrument [Line Items]
Proceeds from energy center notes	$ 83
Interest rate, percentage	5.90%
Energy Center Minneapolis Series H Notes
Debt Instrument [Line Items]
Proceeds from energy center notes	$ 40
Interest rate, percentage	4.83%
Energy Center Minneapolis Series E, F, G, H Notes
Debt Instrument [Line Items]
Proceeds from energy center notes	$ 203
Net borrowings	$ 120
Energy Center Minneapolis Series C Notes
Debt Instrument [Line Items]
Interest rate, percentage	5.95%
Aggregate principal amount repurchased	$ (83)

Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding. Shares issued during the year are weighted for the portion of the year that they were outstanding. Diluted earnings per share is computed in a manner consistent with that of basic earnings per share while giving effect to all potentially dilutive common shares that were outstanding during the period.

The reconciliation of the Company's basic and diluted (loss) earnings per share is shown in the following table:



	Year Ended December 31,
	2019						2018				2017
(In millions, except per share data) ^(a)	Common Class A			Common Class C			Common Class A		Common Class C		Common Class A			Common Class C
Basic and diluted earnings (loss) per share attributable to Clearway Energy, Inc. common stockholders
Net (loss) income attributable to Clearway Energy, Inc.	$	(4	)	$	(7	)	$	16	$	32	$	(6	)	$	(10	)
Weighted average number of common shares outstanding — basic and diluted	35			74			35		69		35			64
(Loss) Earnings per weighted average common share — basic and diluted	$	(0.10	)	$	(0.10	)	$	0.46	$	0.46	$	(0.16	)	$	(0.16	)

^(a)Net (loss) income attributable to Clearway Energy, Inc. and basic and diluted (loss) earnings per share might not recalculate due to presenting values in millions rather than whole dollars.

The following table summarizes the Company's outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company's diluted earnings per share:



	Year Ended December 31,
	2019	2018	2017
	(In millions of shares)
2019 Convertible Notes - Common Class A	—	9	15
2020 Convertible Notes - Common Class C	2	8	10

Accounting for Derivative Instruments and Hedging Activities - FV of Derivatives (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative assets		$ 11
Derivative liabilities	$ 92	21
Derivatives Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		5
Derivative liabilities	14	7
Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		6
Derivative liabilities	78	14
Interest rate contracts current \| Derivatives Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		2
Derivative liabilities	3	1
Interest rate contracts current \| Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		1
Derivative liabilities	13	3
Interest rate contracts long-term \| Derivatives Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		3
Derivative liabilities	11	6
Interest rate contracts long-term \| Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		5
Derivative liabilities	56	11
Commodity contracts long-term \| Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		0
Derivative liabilities	$ 9	$ 0

Schedule II VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended December 31, 2019, 2018, and 2017



	Balance at Beginning of Period		Charged to Costs and Expenses			Charged to Other Accounts		Balance at End of Period
	(In millions)
Income tax valuation allowance, deducted from deferred tax assets
Year Ended December 31, 2019	$	15	$	—		$	—	$	15
Year Ended December 31, 2018	10		5			—		15
Year Ended December 31, 2017	16		(6		)	—		10

Nature of Business	12 Months Ended
Nature of Business	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of business	Nature of Business Clearway Energy, Inc., together with its consolidated subsidiaries, or the Company, is a publicly-traded energy infrastructure investor in and owner of modern, sustainable and long-term contracted assets across North America. On August 31, 2018, NRG Energy, Inc., or NRG, transferred its full ownership interest in the Company to Clearway Energy Group LLC, or CEG, the holder of NRG's renewable energy development and operations platform, and subsequently sold 100% of its interest in CEG to GIP, referred to hereinafter as the GIP Transaction. As a result of the GIP Transaction, GIP indirectly acquired a 45.2% economic interest in Clearway Energy LLC and a 55% voting interest in the Company. GIP is an independent fund manager that invests in infrastructure assets in energy and transport sectors. The Company is sponsored by GIP through its portfolio company, CEG. The Company’s environmentally-sound asset portfolio includes over 5,875 MW of wind, solar and natural gas-fired power generation facilities. Through this diversified and contracted portfolio, the Company endeavors to provide its investors with stable and growing dividend income. Nearly all of these assets sell substantially all of their output pursuant to long-term offtake agreements with creditworthy counterparties. The weighted average remaining contract duration of these offtake agreements was approximately 13 years as of December 31, 2019 based on CAFD. The Company also owns thermal infrastructure assets with an aggregate steam and chilled water capacity of 1,530 net MWt and electric generation capacity of 139 net MW. These thermal infrastructure assets provide steam, hot and/or chilled water, and, in some instances, electricity to commercial businesses, universities, hospitals and governmental units in multiple locations, principally through long-term contracts or pursuant to rates regulated by state utility commissions. The Company consolidates the results of Clearway Energy LLC through its controlling interest, with CEG's interest shown as noncontrolling interest in the financial statements. The holders of the Company's outstanding shares of Class A and Class C common stock are entitled to dividends as declared. CEG receives its distributions from Clearway Energy LLC through its ownership of Clearway Energy LLC Class B and Class D units. As a result of the Class C common stock issuance in December of 2019, the Company owns 57.01% of the economic interests of Clearway Energy LLC, with CEG retaining 42.99% of the economic interests of Clearway Energy LLC as of December 31, 2019. For further discussion, see Item 15 — Note 12, Stockholders' Equity. The following table represents the structure of the Company as of December 31, 2019: PG&E Bankruptcy On January 29, 2019, PG&E filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California, or the Bankruptcy Court. Certain subsidiaries of the Company, which hold interests in 6 solar facilities totaling 480 MW and Marsh Landing with capacity of 720 MW, sell the output of their facilities to PG&E under long-term PPAs. The Company consolidates three of the solar facilities and Marsh Landing and records its interest in the other solar facilities as equity method investments. As of December 31, 2019, the Company had $177 million in restricted cash, $1.4 billion of property, plant and equipment, net, $370 million investments in unconsolidated affiliates and $1.2 billion of borrowings with final maturity dates ranging from 2023 - 2038 related to these facilities. The related subsidiaries of the Company are parties to financing agreements consisting of non-recourse project-level debt and, in certain cases, non-recourse holding company debt. The PG&E Bankruptcy triggered defaults under the PPAs with PG&E and such related project-level financing agreements. As a result, the Company recorded $1.2 billion of principal, net of the related unamortized debt issuance costs, as short-term debt as of December 31, 2019. Substantially all of the Company's generation assets are under long-term contractual arrangements for the output or capacity from these assets. The thermal assets are comprised of district energy systems and combined heat and power plants that produce steam, hot water and/or chilled water and, in some instances, electricity at a central plant. Certain district energy systems are subject to rate regulation by state public utility commissions (although they may negotiate certain rates) while the other district energy systems have rates determined by negotiated bilateral contracts. Transition Services Agreement As a result of the GIP Transaction, the Company entered into a Transition Services Agreement with NRG, or the NRG TSA, pursuant to which NRG or certain of its affiliates began providing transitional services to the Company following the consummation of the GIP Transaction, in exchange for the payment of a fee in respect of such services. A material portion of these processes terminated during the second quarter of 2019 and such services were subsequently provided by both the Company and by CEG pursuant to the CEG Master Services Agreements. During the second quarter of 2019, the Company exercised its option to extend the term of the NRG TSA through April 30, 2020 for the remaining services, some of which will be billed at an hourly rate as agreed between the parties. The Company incurred approximately $1.5 million of expense related to the NRG TSA during the year ended December 31, 2019, which was recorded in transaction and integration costs in the consolidated statements of operations.

Acquisitions and Dispositions

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Acquisitions and Dispositions

2019 Acquisitions

Carlsbad Drop Down — On December 6, 2019, the Company acquired 100% of GIP's membership interests in CBAD Holdings, LLC, which indirectly owns Carlsbad Energy Center LLC, a 527 megawatt natural gas fired power project located in Carlsbad, California, or the Carlsbad Drop Down Asset. The project has a 20-year power purchase and tolling agreement with San Diego Gas and Electric Company, which expires in 2038. The purchase price for the Carlsbad Drop Down was $184 million in cash, plus assumption of $803 million in project level financing including non-recourse senior notes, as further described in Note 10, Long-term Debt. The acquisition was funded with proceeds from the Clearway Energy, Inc. equity issuance, as described in Note 12, Stockholders' Equity, as well as borrowings from the Company's revolving credit facility. The Carlsbad acquisition is the result of the Company having elected its option to purchase Carlsbad pursuant to the ROFO agreement, as amended, by and among the Company, CEG and GIP. The transaction is reflected in the Company's Conventional segment. The assets and liabilities transferred to the Company relate to interests under common control by GIP and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues. The difference between the cash paid and the historical value of the entities' equity was recorded as a distribution to GIP and decreased the balance of its noncontrolling interest. The acquisition was determined to be an asset acquisition and not a business combination, therefore no recast of the historical financial information was deemed necessary.

The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 6, 2019:



		CBAD Holdings, LLC
		(In millions)
Current Assets		$36
Property, plant and equipment		572
Intangible assets, net		337
Other non-current assets		51
Total assets		996

Debt ^(a)		791
Other current and non-current liabilities ^(b)		56
Total liabilities		847
Net assets acquired		$149

^(a) Excludes net debt issuance costs of $12 million.

^(b) Other current liabilities and non-current liabilities include a contingent liability of $5 million assumed by the Company during the acquisition.

Duquesne University District Energy System Acquisition — On May 1, 2019, the Company, through its indirect subsidiary ECP Uptown Campus LLC, acquired the Duquesne University district energy system, totaling 82 combined MWt, located in Pittsburgh, PA. As part of the acquisition, Duquesne University entered into a 40-year Energy Services Agreement through which ECP Uptown Campus LLC will fulfill the university's electricity, chilled water and steam requirements in exchange for monthly capacity payments. The transaction is reflected in the Company's Thermal segment. The total investment for the project is $107 million. This includes $100 million related to the purchase of district energy assets, which was funded through a combination of issuance of non-recourse debt in the amount of $95 million, as further discussed in Note 10, Long-term Debt, as well as cash on

hand. The remaining $7 million related to $3 million of restricted cash funded as part of acquisition, as well as $4 million related to future capital expenditures. The acquisition was determined to be an asset acquisition under ASC 805, with a significant majority of the purchase price allocated to property, plant and equipment as of the acquisition date.

2018 Acquisitions

UPMC Thermal Project Asset Acquisition — On June 19, 2018, upon reaching substantial completion, the Company acquired from NRG the UPMC Thermal Project for cash consideration of $84 million. In addition, the Company had a payable of $4 million to NRG as of December 31, 2018, $3 million of which was paid in January 2019 upon final completion of the project pursuant to the EPC agreement, and $1 million was paid in January 2020. The project added 73 MWt of thermal equivalent capacity and 7.5 MW of emergency backup electrical capacity to the Company's portfolio. The transaction was reflected in the Company's Thermal segment. The acquisition was funded with the proceeds from the sale of the Series E Notes and Series F Notes, as further described in Item 15 — Note 10, Long-term Debt. The assets transferred to the Company relate to interests under common control by NRG and were recorded at book value in accordance with ASC 805-50, Business Combinations - Related Issues. The difference between the purchase price and book value of the assets was recorded as a distribution to NRG and decreased the balance of its noncontrolling interest. The acquisition was determined to be an asset acquisition and not a business combination, therefore no recast of the historical financial information was deemed necessary.

Central CA Fuel Cell 1, LLC — On April 18, 2018, the Company acquired the Central CA Fuel Cell 1, LLC project in Tulare, California from FuelCell Energy Finance, Inc. for cash consideration of $11 million. The project added 2.8 MW of thermal capacity to the Company's portfolio, with a 20-year PPA contract with the City of Tulare. The transaction was reflected in the Company's Thermal segment.

Buckthorn Solar Drop Down Asset — On March 30, 2018, the Company acquired 100% of NRG's interests in Buckthorn Renewables, LLC, which owns a 154 MW construction-stage utility-scale solar generation project located in Texas, or the Buckthorn Solar Drop Down Asset, for cash consideration of $42 million. The Company also assumed non-recourse debt of $183 million and non-controlling interest of $19 million attributable to the Class A member. The Company converted $132 million of non-recourse debt to a term loan and the remainder of the outstanding debt was paid down with the contribution from the Class A member in the amount of $80 million upon the project reaching substantial completion in May 2018. The purchase price for the Buckthorn Solar Drop Down Asset was funded with cash on hand and borrowings from the Company's revolving credit facility. The assets and liabilities transferred to the Company related to interests under common control by NRG and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues. The difference between the cash paid and historical value of the entities' equity was recorded as a distribution to NRG and decreased the balance of its noncontrolling interest. Since the transaction constituted a transfer of net asset under common control, the guidance required retrospective combination of the entities for all periods presented as if the combination had been in effect since the inception of common control. The project sells power under a 25-year PPA to the City of Georgetown, Texas, which commenced in July 2018.

2017 Acquisitions

November 2017 Drop Down Assets — On November 1, 2017, the Company acquired a 38 MW solar portfolio primarily comprised of assets from NRG's Solar Power Partners (SPP) funds and other projects developed by NRG, for cash consideration of $74 million, including working capital adjustments, plus assumed non-recourse debt of $26 million.

The purchase price for the November 2017 Drop Down Assets was funded with cash on hand. The assets and liabilities transferred to the Company relate to interests under common control by NRG and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues. The difference between the cash paid and historical value of the entities' equity was recorded as a contribution from NRG and increased the balance of its noncontrolling interest. Since the transaction constituted a transfer of net assets under common control, the guidance required retrospective combination of the entities for all periods presented as if the combination had been in effect since the inception of common control.

August 2017 Drop Down Assets — On August 1, 2017, the Company acquired the remaining 25% interest in Wind TE Holdco, a portfolio of 12 wind projects, from NRG for total cash consideration of $44 million. The purchase agreement also included potential additional payments to NRG dependent upon actual energy prices for merchant periods beginning in 2027, which were estimated and accrued as contingent consideration in the amount of $8 million.

The Company originally acquired 75% of Wind TE Holdco on November 3, 2015, or November 2015 Drop Down Assets, which were consolidated with 25% of the net assets recorded as noncontrolling interest. The assets and liabilities transferred to the Company related to interests under common control by NRG and were recorded at historical cost in accordance with ASC 805-50, Business Combination - Related Issues. As the Company had reflected NRG's 25% ownership of Wind TE Holdco in

noncontrolling interest, the difference between the cash paid of $44 million, net of the contingent consideration of $8 million, and the historical value of the remaining 25% of $87 million as of July 31, 2017, was recorded as an adjustment to NRG's noncontrolling interest. Since the transaction constituted a transfer of entities under common control, the accounting guidance requires retrospective combination of the entities for all periods presented as if the combination has been in effect from the beginning of the financial statement period or from the date the entities were under common control (if later than the beginning of the financial statement period).

March 2017 Drop Down Assets — On March 27, 2017, the Company acquired the following interests from NRG: (i) Agua Caliente Borrower 2 LLC, which owns a 16% interest (approximately 31% of NRG's 51% interest) in the Agua Caliente solar farm, one of the ROFO Assets, representing ownership of approximately 46 net MW of capacity and (ii) NRG's interests in the Utah Solar Portfolio. Agua Caliente is located in Yuma County, AZ and sells power subject to a 25-year PPA with Pacific Gas and Electric. The seven utility-scale solar farms in the Utah Solar Portfolio are owned by the following entities: Four Brothers Capital, LLC, Iron Springs Capital, LLC, and Granite Mountain Capital, LLC. These utility-scale solar farms achieved commercial operations in 2016, sell power subject to 20-year PPAs with PacifiCorp, a subsidiary of Berkshire Hathaway and are part of a tax equity structure with Dominion Solar Projects III, Inc., or Dominion, through which the Company is entitled to receive 50% of cash to be distributed. The Company paid cash consideration of $128 million. The acquisition of the March 2017 Drop Down Assets was funded with cash on hand. The Company recorded the acquired interests as equity method investments.

The assets and liabilities transferred to the Company relate to interests under common control by NRG and were recorded at historical cost in accordance with ASC 805-50, Business Combination - Related Issues. The difference between the cash paid and the historical value of the entities' equity of $8 million was recorded as an adjustment to noncontrolling interest.

2019 Dispositions and Assets Held for Sale

Sale of Energy Center Dover LLC and Energy Center Smyrna LLC Assets — On September 5, 2019, the Company entered into a purchase and sale agreement with DB Energy Assets, LLC to sell 100% of its interests in Energy Center Dover LLC and Energy Center Smyrna LLC. Energy Center Dover LLC owns a 103 MW natural gas-fired cogeneration facility located in Dover, DE (Energy Center Dover). The transaction is subject to standard regulatory approvals and the completion of certain maintenance activities. The related assets and liabilities were classified as held for sale and recorded to other current assets and non-current assets, as well as current liabilities on the Company’s consolidated balance sheets as of December 31, 2019.

Sale of HSD Solar Holdings, LLC Assets — On October 8, 2019, the Company, through HSD Solar Holdings, LLC, or HSD, sold 100% of its interests in certain distributed generation solar facilities totaling 6 MW to the offtaker under the PPA, for cash consideration of $20 million, as a result of the offtaker exercising its right to purchase the project pursuant to the PPA. In conjunction with the sale, the Company repaid in full the non-recourse lease financing associated with the HSD projects. The repaid amount was net of cash released at closing and totaled $23 million.

Accounting for Derivative Instruments and Hedging Activities - Volume Buy/Sell of Company's Open Derivative Transactions (Details) MMBTU in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) MMBTU	Dec. 31, 2018 USD ($) MMBTU
Natural Gas
Derivative [Line Items]
Notional amount, energy measure \| MMBTU	(2)	(1)
Power
Derivative [Line Items]
Notional amount, energy measure \| MMBTU	(2)	0
Interest
Derivative [Line Items]
Notional amount \| $	$ 1,788	$ 1,862
Interest Rate Swap
Derivative [Line Items]
Notional amount \| $	$ 1,788

Schedule I - Condensed Financial Information of Registrant - Footnotes (Details) $ in Millions			12 Months Ended
	Dec. 02, 2019 USD ($) shares	Sep. 27, 2018 USD ($) shares	Dec. 31, 2019 USD ($) MW	Dec. 31, 2018 USD ($) shares	Dec. 31, 2017 USD ($)	Aug. 31, 2018	Mar. 30, 2018
Condensed Cash Flow Statements, Captions [Line Items]
Ownership interest acquired							100.00%
Weighted average remaining PPA term			13 years
Sale of stock, number of shares issued in transaction \| shares	5,405,405	3,916,449		4,492,473
Proceeds from issuance or sale of equity \| $	$ 100	$ 75
Cash Distributions \| $			$ 0	$ 0	$ 23
Clearway Energy LLC
Condensed Cash Flow Statements, Captions [Line Items]
Cash Distributions \| $			$ 87	$ 130	$ 108
Clearway Energy LLC \| Clearway Energy, Inc.
Condensed Cash Flow Statements, Captions [Line Items]
Limited liability company or limited partnership, members or limited partners, ownership interest			57.01%
Clearway Energy LLC \| CEG
Condensed Cash Flow Statements, Captions [Line Items]
Limited liability company or limited partnership, members or limited partners, ownership interest			42.99%
Clearway Energy, Inc. \| GIP
Condensed Cash Flow Statements, Captions [Line Items]
Ownership interest acquired						55.00%
Clearway Energy LLC \| GIP
Condensed Cash Flow Statements, Captions [Line Items]
Ownership interest acquired						45.20%
Conventional Generation, Utility-Scale Solar, Distributed Solar, and Wind
Condensed Cash Flow Statements, Captions [Line Items]
Power generation gapacity, megawatts \| MW			5,875
Thermal
Condensed Cash Flow Statements, Captions [Line Items]
Power generation gapacity, megawatts \| MW			139
Steam and chilled water capacity, megawatts thermal equivalent \| MW			1,530

Unaudited Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Summary of unaudited quarterly financial data

Below is summarized unaudited quarterly financial data for the periods ending December 31, 2019 and 2018.



	Quarter Ended
	December 31,			September 30,			June 30,			March 31,
	2019
	(In millions, except per share data)
Operating Revenues	$	235		$	296		$	284		$	217
Operating Income	6			90			87			41
Net (Loss) Income	(48		)	35			(36		)	(47		)
Net (Loss) Attributable to Clearway Energy, Inc.	$	(6	)	$	39		$	(24	)	$	(20	)
Weighted average number of Class A common shares outstanding — basic	35			35			35			35
Weighted average number of Class A common shares outstanding — diluted	35			35			35			35
Weighted average number of Class C common shares outstanding — basic	75			73			73			73
Weighted average number of Class C common shares outstanding — diluted	75			75			73			73
(Loss) Earnings per Weighted Average Common Share Basic and Diluted	$	(0.06	)	$	(0.36	)	$	(0.22	)	$	(0.18	)



	Quarter Ended
	December 31,			September 30,		June 30,		March 31,
	2018
	(In millions, except per share data)
Operating Revenues	$	229		$	292	$	307	$	225
Operating Income	54			100		144		49
Net (Loss) Income	(91		)	49		96		—
Net (Loss) Income Attributable to Clearway Energy, Inc.	$	(68	)	$	21	$	79	$	16
Weighted average number of Class A common shares outstanding — basic	35			35		35		35
Weighted average number of Class A common shares outstanding — diluted	35			35		49		35
Weighted average number of Class C common shares outstanding — basic	73			69		67		65
Weighted average number of Class C common shares outstanding — diluted	73			69		78		65
(Loss) Earnings per Weighted Average Class A and Class C Common Share - Basic	$	(0.63	)	$	0.20	$	0.77	$	0.16
(Loss) Earnings per Weighted Average Class A Common Share - Diluted	$	(0.63	)	$	0.20	$	0.61	$	0.16
(Loss) Earnings per Weighted Average Class C Common Share - Diluted	$	(0.63	)	$	0.20	$	0.70	$	0.16

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Basis of Presentation

The Company's consolidated financial statements have been prepared in accordance with GAAP. The ASC is the source of authoritative GAAP to be applied by nongovernmental entities. In addition, the rules and interpretative releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants.

Principles of Consolidation

The consolidated financial statements include the Company's accounts and operations and those of its subsidiaries in which it has a controlling interest. All significant intercompany transactions and balances have been eliminated in consolidation. The usual condition for a controlling financial interest is ownership of a majority of the voting interests of an entity. However, a controlling financial interest may also exist through arrangements that do not involve controlling voting interests. As such, the Company applies the guidance of ASC 810, Consolidations, or ASC 810, to determine when an entity that is insufficiently capitalized or not controlled through its voting interests, referred to as a variable interest entity, or VIE, should be consolidated.

Cash and Cash Equivalents

Cash and Cash Equivalents, and Restricted Cash

Cash and cash equivalents include highly liquid investments with an original maturity of three months or less at the time of purchase.

Restricted Cash

Restricted cash consists primarily of funds held to satisfy the requirements of certain debt agreements and funds held within the Company's projects that are restricted in their use. As of December 31, 2019, these restricted funds comprised of $129 million designated to fund operating expenses, approximately $24 million designated for current debt service payments, and $30 million restricted for reserves including debt service, performance obligations and other reserves, as well as capital expenditures. The remaining $79 million is held in distributions reserve accounts, of which $58 million related to subsidiaries affected by the PG&E Bankruptcy as discussed further below and may not be distributed during the pendency of the bankruptcy. Such subsidiaries had a total of $177 million in restricted cash as of December 31, 2019.

Trade Receivables and Allowance for Doubtful Accounts

Accounts Receivable — Trade and Allowance for Doubtful Accounts

Accounts receivable— trade are reported on the balance sheet at the invoiced amount adjusted for any write-offs and the allowance for doubtful accounts. The allowance for doubtful accounts is reviewed periodically based on amounts past due and significance. The allowance for doubtful accounts was immaterial as of December 31, 2019 and 2018.

Inventory

Inventory consists principally of spare parts and fuel oil. Spare parts inventory is valued at weighted average cost, unless evidence indicates that the weighted average cost will not be recovered with a normal profit in the ordinary course of business. Fuel oil inventory is valued at the lower of weighted average cost or market. The Company removes fuel inventories as they are used in the production of steam, chilled water or electricity. Spare parts inventory are removed when they are used for repairs, maintenance or capital projects.

Property, Plant and Equipment

Property, plant and equipment are stated at cost or, in the case of third party business acquisitions, fair value; however impairment adjustments are recorded whenever events or changes in circumstances indicate that their carrying values may not be recoverable. Significant additions or improvements extending asset lives are capitalized as incurred, while repairs and maintenance that do not improve or extend the life of the respective asset are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives. Certain assets and their related accumulated depreciation amounts are adjusted for asset retirements and disposals with the resulting gain or loss included in cost of operations in the consolidated statements of operations. For further discussion of the Company's property, plant and equipment refer to Note 4, Property, Plant and Equipment, to the Consolidated Financial Statements.

Construction in-progress represents cumulative construction costs, including the costs incurred for the purchase of major equipment and engineering costs and capitalized interest. Once the project achieves commercial operation, the Company reclassifies the amounts recorded in construction in progress to facilities and equipment.

Development costs include project development costs, which are expensed in the preliminary stages of a project and capitalized when the project is deemed to be commercially viable. Commercial viability is determined by one or a series of actions including, among others, Board of Director approval pursuant to a formal project plan that subjects the Company to significant future obligations that can only be discharged by the use of a Company asset. When a project is available for operations, capitalized interest and capitalized project development costs are reclassified to property, plant and equipment and depreciated on a straightline basis over the estimated useful life of the project's related assets. Capitalized costs are charged to expense if a project is abandoned or management otherwise determines the costs to be unrecoverable.

Asset Impairments

Long-lived assets that are held and used are reviewed for impairment whenever events or changes in circumstances indicate their carrying values may not be recoverable. Such reviews are performed in accordance with ASC 360. An impairment loss is indicated if the total future estimated undiscounted cash flows expected from an asset are less than its carrying value. An impairment charge is measured by the difference between an asset's carrying amount and fair value with the difference recorded in operating costs and expenses in the statements of operations. Fair values are determined by a variety of valuation methods, including appraisals, sales prices of similar assets and present value techniques. For further discussion of the Company's long-lived asset impairments, refer to Item 15 — Note 9, Asset Impairments, to the Consolidated Financial Statements.

Investments accounted for by the equity method are reviewed for impairment in accordance with ASC 323, Investments-Equity Method and Joint Ventures, which requires that a loss in value of an investment that is an other-than-temporary decline should be recognized. The Company identifies and measures losses in the value of equity method investments based upon a comparison of fair value to carrying value.

Debt Issuance Costs

Debt issuance costs are capitalized and amortized as interest expense on a basis which approximates the effective interest method over the term of the related debt. Debt issuance costs related to the long term debt are presented as a direct deduction from the carrying amount of the related debt in both the current and prior periods. Debt issuance costs related to the senior secured revolving credit facility line of credit are recorded as a non-current asset on the balance sheet and are amortized over the term of the credit facility.

Long-Term Debt

For a discussion of Clearway Energy, Inc.’s financing arrangements, see Note 10, Long-term Debt, to the Company's consolidated financial statements.

Revenue Recognition

Revenue from Contracts with Customers

On January 1, 2018, the Company adopted the guidance in ASC 606, Revenue from Contracts with Customers, or Topic 606, using the modified retrospective method applied to contracts which were not completed as of the adoption date, with no adjustment required to the financial statements upon adoption. Following the adoption of the new standard, the Company’s revenue recognition of its contracts with customers remains materially consistent with its historical practice. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company's policies with respect to its various revenue streams are detailed below. In general, the Company applies the invoicing practical expedient to recognize revenue for the revenue streams detailed below, except in circumstances where the invoiced amount does not represent the value transferred to the customer.

Thermal Revenues

Steam and chilled water revenue is recognized as the Company transfers the product to the customer, based on customer usage as determined by meter readings taken at month-end. Some locations read customer meters throughout the month, and recognize estimated revenue for the period between meter read date and month-end. For thermal contracts, the Company’s performance obligation to deliver steam and chilled water is satisfied over time and revenue is recognized based on the invoiced amount. The Thermal Business subsidiaries collect and remit state and local taxes associated with sales to their customers, as required by governmental authorities. These taxes are presented on a net basis in the income statement.

As contracts for steam and chilled water are long-term contracts, the Company has performance obligations under these contracts that have not yet been satisfied. These performance obligations have transaction prices that are both fixed and variable, and that vary based on the contract duration, customer type, inception date and other contract-specific factors. For the fixed price contracts, the Company cannot accurately estimate the amount of its unsatisfied performance obligations as it will vary based on customer usage, which will depend on factors such as weather and customer activity.

Power Purchase Agreements, or PPAs

The majority of the Company’s revenues are obtained through PPAs or other contractual agreements. Energy, capacity and, where applicable, renewable attributes, from the majority of the Company’s renewable energy assets and certain conventional energy plants is sold through long-term PPAs and tolling agreements to a single counterparty, which is often a utility or commercial customer. The majority of these PPAs are accounted for as leases. Previously ASC 840, and currently, ASC 842, requires the minimum lease payments received to be amortized over the term of the lease and contingent rentals are recorded when the achievement of the contingency becomes probable. Judgment is required by management in determining the economic life of each generating facility, in evaluating whether certain lease provisions constitute minimum payments or represent contingent rent and other factors in determining whether a contract contains a lease and whether the lease is an operating lease or capital lease.

Certain of these leases have no minimum lease payments and all of the rental income under these leases is recorded as contingent rent on an actual basis when the electricity is delivered. The contingent rental income recognized in the years ended December 31, 2019, 2018 and 2017 was $537 million, $583 million and $559 million, respectively. See Note 17, Leases for additional information related to the Company's PPAs accounted for as leases.

Renewable Energy Credits, or RECs

As stated above, renewable energy credits, or RECs, are usually sold through long-term PPAs. Revenue from the sale of self-generated RECs is recognized when the related energy is generated and simultaneously delivered even in cases where there is a certification lag as it has been deemed to be perfunctory.

In a bundled contract to sell energy, capacity and/or self-generated RECs, all performance obligations are deemed to be delivered at the same time and hence, timing of recognition of revenue for all performance obligations is the same and occurs over time. In such cases, it is often unnecessary to allocate transaction price to multiple performance obligations.

Derivative Financial Instruments

The Company accounts for derivative financial instruments under ASC 815, Derivatives and Hedging, or ASC 815, which requires the Company to record all derivatives on the balance sheet at fair value unless they qualify for a NPNS exception. Changes in the fair value of non-hedge derivatives are immediately recognized in earnings. Changes in the fair value of derivatives accounted for as hedges, if elected for hedge accounting, are either:


•	Recognized in earnings as an offset to the changes in the fair value of the related hedged assets, liabilities and firm commitments; or


•	Deferred and recorded as a component of accumulated OCI until the hedged transactions occur and are recognized in earnings.

The Company's primary derivative instruments are interest rate instruments used to mitigate variability in earnings due to fluctuations in interest rates, power purchase or sale contracts used to mitigate variability in earnings due to fluctuations in market prices and fuels purchase contracts used to control customer reimbursable fuel cost. On an ongoing basis, the Company qualitatively assesses the effectiveness of its derivatives that are designated as hedges for accounting purposes in order to determine that each derivative continues to be highly effective in offsetting changes in cash flows of hedged items. If necessary, the Company will perform an analysis to measure the statistical correlation between the derivative and the associated hedged item to determine the effectiveness of such a contract designated as a hedge. The Company will discontinue hedge accounting if it is determined that the hedge is no longer effective. In this case, the gain or loss previously deferred in accumulated OCI would be frozen until the underlying hedged item is delivered unless the transaction being hedged is no longer probable of occurring in which case the amount in OCI would be immediately reclassified into earnings. If the derivative instrument is terminated, the effective portion of this derivative deferred in accumulated OCI will be frozen until the underlying hedged item is delivered.

Revenues and expenses on contracts that qualify for the NPNS exception are recognized when the underlying physical transaction is delivered. While these contracts are considered derivative financial instruments under ASC 815, they are not recorded at fair value, but on an accrual basis of accounting. If it is determined that a transaction designated as NPNS no longer meets the scope exception, the fair value of the related contract is recorded on the balance sheet and immediately recognized through earnings.

Concentrations of Credit Risk

oncentrations of Credit Risk

Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of accounts receivable, notes receivable and derivative instruments, which are concentrated within entities engaged in the energy and financial industry. These industry concentrations may impact the overall exposure to credit risk, either positively or negatively, in that the customers may be similarly affected by changes in economic, industry or other conditions. In addition, many of the Company's projects have only one customer. See Item 1A, Risk Factors, Risks related to the PG&E Bankruptcy, for a discussion on the Company’s dependence on major customers. See Note 6, Fair Value of Financial Instruments, for a further discussion of derivative concentrations and Note 13, Segment Reporting, for concentration of counterparties.

Fair Value of Financial Instruments

air Value of Financial Instruments

The carrying amount of cash and cash equivalents, restricted cash, accounts receivable, accounts receivable - affiliate, accounts payable, current portion of account payable - affiliate, and accrued expenses and other current liabilities approximate fair value because of the short-term maturity of these instruments. See Note 6, Fair Value of Financial Instruments, for a further discussion of fair value of financial instruments.

Asset Retirement Obligations

Asset retirement obligations, or AROs, are accounted for in accordance with ASC 410-20, Asset Retirement Obligations, or ASC 410-20. Retirement obligations associated with long-lived assets included within the scope of ASC 410-20 are those for which a legal obligation exists under enacted laws, statutes, and written or oral contracts, including obligations arising under the doctrine of promissory estoppel, and for which the timing and/or method of settlement may be conditional on a future event. ASC 410-20 requires an entity to recognize the fair value of a liability for an ARO in the period in which it is incurred and a reasonable estimate of fair value can be made.

Upon initial recognition of a liability for an ARO, the asset retirement cost is capitalized by increasing the carrying amount of the related long-lived asset by the same amount. Over time, the liability is accreted to its future value, while the capitalized cost is depreciated over the useful life of the related asset. The Company's AROs are primarily related to the future dismantlement of equipment on leased property and environmental obligations related to site closures and fuel storage facilities. The Company records AROs as part of other non-current liabilities on its balance sheet.

Guarantees

The Company enters into various contracts that include indemnification and guarantee provisions as a routine part of its business activities. Examples of these contracts include operation and maintenance agreements, service agreements, commercial sales arrangements and other types of contractual agreements with vendors and other third parties, as well as affiliates. These contracts generally indemnify the counterparty for tax, environmental liability, litigation and other matters, as well as breaches of representations, warranties and covenants set forth in these agreements. Because many of the guarantees and indemnities the Company issues to third parties and affiliates do not limit the amount or duration of its obligations to perform under them, there exists a risk that the Company may have obligations in excess of the amounts agreed upon in the contracts mentioned above. For those guarantees and indemnities that do not limit the liability exposure, the Company may not be able to estimate what the liability would be, until a claim is made for payment or performance, due to the contingent nature of these contracts.

Investments Accounted for by the Equity Method

The Company has investments in various energy projects accounted for by the equity method, several of which are VIEs, where the Company is not a primary beneficiary, as described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities. The equity method of accounting is applied to these investments in affiliates because the ownership structure prevents the Company from exercising a controlling influence over the operating and financial policies of the projects. Under this method, equity in pre-tax income or losses of the investments is reflected as equity in earnings of unconsolidated affiliates. Distributions from equity method investments that represent earnings on the Company's investment are included within cash flows from operating activities and distributions from equity method investments that represent a return of the Company's investment are included within cash flows from investing activities.

Sale-Leaseback Arrangements

The Company is party to sale-leaseback arrangements that provide for the sale of certain assets to a third party and simultaneous leaseback to the Company. In accordance with ASC 840-40, Sale-Leaseback Transactions, if the seller-lessee retains, through the leaseback, substantially all of the benefits and risks incident to the ownership of the property sold, the sale-leaseback transaction is accounted for as a financing arrangement. An example of this type of continuing involvement would include an option to repurchase the assets or the buyer-lessor having the option to sell the assets back to the Company. This provision is included in most of the Company’s sale-leaseback arrangements. As such, the Company accounts for these arrangements as financings.

Under the financing method, the Company does not recognize as income any of the sale proceeds received from the lessor that contractually constitutes payment to acquire the assets subject to these arrangements. Instead, the sale proceeds received are accounted for as financing obligations and leaseback payments made by the Company are allocated between interest expense and a reduction to the financing obligation. Interest on the financing obligation is calculated using the Company’s incremental borrowing rate at the inception of the arrangement on the outstanding financing obligation. Judgment is required to determine the appropriate borrowing rate for the arrangement and in determining any gain or loss on the transaction that would be recorded either at the end of or over the lease term.

Stock-Based Compensation

The Company accounts for its stock-based compensation in accordance with ASC 718, Compensation — Stock Compensation, or ASC 718. The fair value of the Company's relative performance stock units, or RPSUs, are estimated on the date of grant using the Monte Carlo valuation model. The Company uses the Class A and Class C common stock price on the date of grant as the fair value of the Company's restricted stock units, or RSUs. Forfeiture rates are estimated based on an analysis of the Company's historical forfeitures, employment turnover, and expected future behavior. The Company recognizes compensation expense for both graded and cliff vesting awards on a straightline basis over the requisite service period for the entire award. The Company incurred total stock compensation expense of $4 million and $3 million for the years ended December 31, 2019 and December 31, 2018, respectively, which was primarily recorded in general and administrative expense on the Company's consolidated statements of operations.

Income Taxes

The Company accounts for income taxes using the liability method in accordance with ASC 740, Income Taxes, or ASC 740, which requires that the Company use the asset and liability method of accounting for deferred income taxes and provide deferred income taxes for all significant temporary differences.

The Company has two categories of income tax expense or benefit — current and deferred, as follows:


•	Current income tax expense or benefit consists solely of current taxes payable less applicable tax credits, and


•	Deferred income tax expense or benefit is the change in the net deferred income tax asset or liability, excluding amounts charged or credited to accumulated other comprehensive income.

The Company reports some of its revenues and expenses differently for financial statement purposes than for income tax return purposes, resulting in temporary and permanent differences between the Company's financial statements and income tax returns. The tax effects of such temporary differences are recorded as either deferred income tax assets or deferred income tax liabilities in the Company's consolidated balance sheets. The Company measures its deferred income tax assets and deferred income tax liabilities using income tax rates that are currently in effect. The Company believes it is more likely than not that the results of future operations will generate sufficient taxable income which includes the future reversal of existing taxable temporary differences to realize deferred tax assets, net of valuation allowances. In arriving at this conclusion to utilize projections of future profit before tax in its estimate of future taxable income, including the impact of the Tax Cuts and Jobs Act, the Company considered the profit before tax generated in recent years. A valuation allowance is recorded to reduce the net deferred tax assets to an amount that is more-likely-than-not to be realized.

The Company accounts for uncertain tax positions in accordance with ASC 740, which applies to all tax positions related to income taxes. Under ASC 740, tax benefits are recognized when it is more-likely-than-not that a tax position will be sustained upon examination by the authorities. The benefit recognized from a position that has surpassed the more-likely-than-not threshold is the largest amount of benefit that is more than 50% likely to be realized upon settlement. The Company recognizes interest and penalties accrued related to uncertain tax benefits as a component of income tax expense.

In accordance with ASC 740 and as discussed further in Item 15 — Note 14, Income Taxes, changes to existing net deferred tax assets, valuation allowances, or changes to uncertain tax benefits, are recorded to income tax expense.

Prior to the GIP Transaction, the Company was included in certain NRG consolidated unitary tax return filings which was reflected in the state effective tax rate. For tax returns filed during December 31, 2019, NRG allocated $22 million to the Company in tax-effected state NOLs, driven primarily from losses generated by NRG after the GIP Transaction. The Company expects to be able to utilize these NOLs in future periods.

Following the GIP Transaction, the Company files under a separate standalone methodology, resulting in a higher state effective tax rate due to a larger percentage of activity allocated to high-tax jurisdictions.

Business Combinations

The Company accounts for its business combinations in accordance with ASC 805, Business Combinations, or ASC 805. For third party acquisitions, ASC 805 requires an acquirer to recognize and measure in its financial statements the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree at fair value at the acquisition date. It also recognizes and measures the goodwill acquired or a gain from a bargain purchase in the business combination and determines what information to disclose to enable users of an entity's financial statements to evaluate the nature and financial effects of the business combination. In addition, transaction costs are expensed as incurred. For business acquisitions that relate to entities under common control, ASC 805 requires retrospective combination of the entities for all periods presented as if the combination has been in effect from the beginning of the financial statement period of from the date the entities were under common control (if later than the beginning of the financial statement period). The difference between the cash paid and historical value of the entities' equity is recorded as a distribution/contribution from/to CEG with the offset to noncontrolling interest. Transaction costs are expensed as incurred.

Use of Estimates

The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amounts of net earnings during the reporting periods. Actual results could be different from these estimates.

In recording transactions and balances resulting from business operations, the Company uses estimates based on the best information available. Estimates are used for such items as plant depreciable lives, tax provisions, uncollectible accounts, AROs, acquisition accounting and legal costs incurred in connection with recorded loss contingencies, among others. In addition, estimates are used to test long-lived assets for impairment and to determine the fair value of impaired assets. As better information becomes available or actual amounts are determinable, the recorded estimates are revised. Consequently, operating results can be affected by revisions to prior accounting estimates.

Tax Equity Arrangements

Certain portions of the Company’s noncontrolling interests in subsidiaries represent third-party interests in the net assets under certain tax equity arrangements, which are consolidated by the Company, that have been entered into to finance the cost of wind facilities eligible for certain tax credits. Additionally, certain portions of the Company’s investments in unconsolidated affiliates reflect the Company’s interests in tax equity arrangements, that are not consolidated by the Company, that have been entered into to finance the cost of solar energy systems, under operating leases or PPAs, that are eligible for certain tax credits. The Company has determined that the provisions in the contractual agreements of these structures represent substantive profit sharing arrangements. Further, the Company has determined that the appropriate methodology for calculating the noncontrolling interest and investment in unconsolidated affiliates that reflects the substantive profit sharing arrangements is a balance sheet approach utilizing the hypothetical liquidation at book value, or HLBV, method. Under the HLBV method, the amounts reported as noncontrolling interests and investment in unconsolidated affiliates represent the amounts the investors to the tax equity arrangements would hypothetically receive at each balance sheet date under the liquidation provisions of the contractual agreements, assuming the net assets of the funding structures were liquidated at their recorded amounts determined in accordance with GAAP. The investors’ interests in the results of operations of the funding structures are determined as the difference in noncontrolling interests and investment in unconsolidated affiliates at the start and end of each reporting period, after taking into account any capital transactions between the structures and the funds’ investors. The calculations utilized to apply the HLBV method include estimated calculations of taxable income or losses for each reporting period.

Reclassification

Certain prior year amounts have been reclassified for comparative purposes.

Recent Accounting Developments

Recent Accounting Developments - Adopted in 2019

ASU 2016-02 — In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), or Topic 842, as amended, with the objective to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and to improve financial reporting by expanding the related disclosures. The guidance in Topic 842 provides that a lessee that may have previously accounted for a lease as an operating lease under current GAAP should recognize the assets and liabilities that arise from a lease on the balance sheet. In addition, Topic 842 expands the required quantitative and qualitative disclosures with regards to lease arrangements.

As further described in Note 17, Leases, the Company adopted the standard effective January 1, 2019 using the modified retrospective transition method and will not restate prior periods for the impact of Topic 842.

Commitments, Contingencies and Guarantees

See Note 14, Income Taxes, and Note 16, Commitments and Contingencies, to the Company's consolidated financial statements for a detailed discussion of Clearway Energy, Inc.’s commitments and contingencies.

Dividends

Cash distributions paid to Clearway Energy, Inc. by its subsidiary, Clearway Energy LLC, were $87 million, $130 million, and $108 million for the years ended December 31, 2019, 2018, and 2017, respectively.

Fair Value of Financial Instruments - Significant Unobservable Inputs (Details) - Energy Related Derivative - Fair Value, Measurements, Recurring - Fair Value, Inputs, Level 3 $ in Millions	Dec. 31, 2019 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 0
Derivative liability	(9)
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value	5
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value	33
Weighted Average [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value	$ 12

Schedule I - Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Registrant

Clearway Energy, Inc. (Parent)

Condensed Financial Information of Registrant

Condensed Statements of Operations



	Year ended December 31,
(In millions)	2019			2018			2017
Total operating costs and expenses	$	2		$	1		$	1
Equity in earnings of consolidated subsidiaries	(101		)	135			61
Loss on debt extinguishment	—			(7		)	—
Interest expense	(1		)	(11		)	(12		)
Total other expense, net	(102		)	117			49
(Loss) Income Before Income Taxes	(104		)	116			48
Income tax (benefit) expense	(8		)	62			72
Net (Loss) Income	(96		)	54			(24		)
Less: Pre-acquisition net income of Drop Down Assets	—			4			7
Less: Net (loss) income attributable to noncontrolling interests	(85		)	2			(15		)
Net (Loss) Income Attributable to Clearway Energy, Inc.	$	(11	)	$	48		$	(16	)

Clearway Energy, Inc. (Parent)

Condensed Balance Sheets



	December 31,			December 31,
	2019			2018
ASSETS	(In millions)

Current Assets
Cash and cash equivalents	$	3		$	—
Accounts receivable — affiliates	2			—
Note receivable - Clearway Energy Operating LLC	44			215
Other Assets
Investment in consolidated subsidiaries	2,173			2,182
Note receivable - Clearway Energy Operating LLC	—			44
Deferred income taxes	92			57
Total Assets	$	2,314		$	2,498
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Current portion of long-term debt	44			220
Accounts payable — affiliate	—			5
Other current liabilities	1			—
Other Liabilities
Long-term debt	—			44
Other non-current liabilities	6			5
Total Liabilities	51			274

Stockholders' Equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued	—			—
Class A, Class B, Class C and Class D common stock, $0.01 par value; 3,000,000,000 shares authorized (Class A 500,000,000, Class B 500,000,000, Class C 1,000,000,000, Class D 1,000,000,000); 198,819,999 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 78,742,854, Class D 42,738,750) at December 31, 2019 and 193,251,396 shares issued and outstanding (Class A 34,586,250, Class B 42,738,750, Class C 73,187,646, Class D 42,738,750) at December 31, 2018	1			1
Additional paid-in capital	1,936			1,897
Accumulated deficit	(72		)	(58		)
Accumulated other comprehensive loss	(15		)	(18		)
Noncontrolling interest	413			402
Total Stockholders' Equity	2,263			2,224
Total Liabilities and Stockholders' Equity	$	2,314		$	2,498

Clearway Energy, Inc. (Parent)

Condensed Statements of Cash Flows



	Years ended December 31,
	2019			2018			2017
	(In millions)
Net Cash (Used in) Provided by Operating Activities	$	(5	)	$	3		$	—
Cash Flows from Investing Activities
Investments in consolidated affiliates	(87		)	(150		)	(33		)
Cash received from notes receivable - affiliate	215			359			—
Net Cash Provided by (Used in) Investing Activities	128			209			(33		)
Cash Flows from Financing Activities
Payments for long-term debt	(220		)	(367		)	—
Proceeds from the issuance of common stock	100			153			34
Cash received from Clearway Energy LLC for the payment of dividends	87			130			108
Payment of dividends	(87		)	(130		)	(108		)
Net Cash (Used in) Provided by Financing Activities	(120		)	(214		)	34
Net (Decrease) Increase in Cash and Cash Equivalents	3			(2		)	1
Cash and Cash Equivalents at Beginning of Period	—			2			1
Cash and Cash Equivalents at End of Period	$	3		$	—		$	2

Background and Basis of Presentation

Background

Clearway Energy, Inc., together with its consolidated subsidiaries, or the Company, is a publicly-traded energy infrastructure investor in and owner of modern, sustainable and long-term contracted assets across North America. On August 31, 2018, NRG Energy, Inc., or NRG, transferred its full ownership interest in the Company to Clearway Energy Group LLC, or CEG, the holder of NRG's renewable energy development and operations platform, and subsequently sold 100% of its interest in CEG to Global Infrastructure Partners III, or GIP, referred to hereinafter as the NRG Transaction. As a result of the NRG Transaction, GIP indirectly acquired a 45.2% economic interest in Clearway Energy LLC and a 55% voting interest in the Company. GIP is an independent fund manager that invests in infrastructure assets in energy and transport sectors. The Company is sponsored by GIP through GIP's portfolio company, Clearway Energy Group.

The Company’s environmentally-sound asset portfolio includes approximately 5,875 MW of wind, solar and natural gas-fired power generation facilities, as well as district energy systems as of December 31, 2019. Through this diversified and contracted portfolio, the Company endeavors to provide its investors with stable and growing dividend income. The weighted average remaining contract duration of these offtake agreements was approximately 13 years as of December 31, 2019 based on CAFD. The Company also owns thermal infrastructure assets with an aggregate steam and chilled water capacity of 1,530 net MWt and electric generation capacity of 139 net MW. These thermal infrastructure assets provide steam, hot and/or chilled water, and, in some instances, electricity to commercial businesses, universities, hospitals and governmental units in multiple locations, principally through long-term contracts or pursuant to rates regulated by state utility commissions.

The Company consolidates the results of Clearway Energy LLC through its controlling interest, with CEG's interest shown as noncontrolling interest in the financial statements. The holders of the Company's outstanding shares of Class A and Class C common stock are entitled to dividends as declared. CEG receives its distributions from Clearway Energy LLC through its ownership of Clearway Energy LLC Class B and Class D units.

As a result of the additional issuance of 5,405,405 Class C common shares on December 2, 2019, the Company currently owns 57.01% of the economic interests of Clearway Energy LLC, with CEG retaining 42.99% of the economic interests of Clearway Energy LLC.

Basis of Presentation

The condensed parent-only company financial statements have been prepared in accordance with Rule 12-04 of Regulation S-X, as the restricted net assets of Clearway Energy, Inc.’s subsidiaries exceed 25% of the consolidated net assets of Clearway Energy, Inc. The parent's 100% investment in its subsidiaries has been recorded using the equity basis of accounting in the accompanying condensed parent-only financial statements. These statements should be read in conjunction with the consolidated financial statements and notes thereto of Clearway Energy, Inc.

On December 6, 2019, the Company acquired 100% of GIP's membership interests in CBAD Holdings, LLC, which indirectly owns Carlsbad Energy Center LLC, a 527 megawatt natural gas fired power project located in Carlsbad, California, or the Carlsbad Drop Down Asset. The assets transferred to the Company relate to interests under common control by GIP and were recorded at book value in accordance with ASC 805-50, Business Combinations - Related Issues. The difference between the purchase price and book value of the assets was recorded as a distribution to CEG and decreased the balance of its noncontrolling interest. The acquisition was determined to be an asset acquisition and not a business combination, therefore no recast of the historical financial information was deemed necessary. For further discussion, see Note 3, Acquisitions and Dispositions to the Consolidated Financial Statements.

Note 2 — Long-Term Debt

For a discussion of Clearway Energy, Inc.’s financing arrangements, see Note 10, Long-term Debt, to the Company's consolidated financial statements.

Note 3 — Commitments, Contingencies and Guarantees

Note 4 — Dividends

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Par value - preferred stock (in usd per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Par value - common stock (in usd per share)	$ 0.01
Common stock, shares authorized (in shares)	3,000,000,000	3,000,000,000
Common stock, shares issued (in shares)	198,819,999	193,251,396
Common stock, shares outstanding (in shares)	198,819,999	193,251,396
Common Class A
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	34,599,645	34,586,250
Common stock, shares outstanding (in shares)	34,599,645	34,586,250
Common Class B
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	42,738,750	42,738,750
Common stock, shares outstanding (in shares)	42,738,750	42,738,750
Common Class C
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	78,742,854	73,187,646
Common stock, shares outstanding (in shares)	78,742,854	73,187,646
Common Class D
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	42,738,750	42,738,750
Common stock, shares outstanding (in shares)	42,738,750	42,738,750

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Attributable to Parent [Abstract]

Schedule of dividends paid

The following table lists the dividends paid on the Company's Class A and Class C common stock during the year ended December 31, 2019:



	Fourth Quarter 2019		Third Quarter 2019		Second Quarter 2019		First Quarter 2019
Dividends per Class A share	$	0.20	$	0.20	$	0.20	$	0.20
Dividends per Class C share	$	0.20	$	0.20	$	0.20	$	0.20

Schedule of distributions paid

The following table lists the distributions paid to CEG during the year ended December 31, 2019 on Clearway Energy LLC's Class B and D units:



	Fourth Quarter 2019		Third Quarter 2019		Second Quarter 2019		First Quarter 2019
Distributions per Class B unit	$	0.20	$	0.20	$	0.20	$	0.20
Distributions per Class D unit	$	0.20	$	0.20	$	0.20	$	0.20

Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 6, 2019:



		CBAD Holdings, LLC
		(In millions)
Current Assets		$36
Property, plant and equipment		572
Intangible assets, net		337
Other non-current assets		51
Total assets		996

Debt ^(a)		791
Other current and non-current liabilities ^(b)		56
Total liabilities		847
Net assets acquired		$149

^(a) Excludes net debt issuance costs of $12 million.

^(b) Other current liabilities and non-current liabilities include a contingent liability of $5 million assumed by the Company during the acquisition.

Leases - Minimum Future Rent Payments Under Operating Leases (Details) $ in Millions	Dec. 31, 2019 USD ($)
Leases [Abstract]
2020	$ 439
2021	444
2022	450
2023	259
2024	106
Thereafter	1,605
Total lease payments	$ 3,303

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income tax provision from continuing operations

The income tax provision consisted of the following amounts:



	Year Ended December 31,
	2019			2018		2017
	(In millions, except percentages)
Current
U.S. Federal	$	—		$	—	$	—
State	—			—		—
Total — current	—			—		—
Deferred
U.S. Federal	(4		)	28		75
State	(4		)	34		(3		)
Total — deferred	(8		)	62		72
Total income tax (benefit) expense	$	(8	)	$	62	$	72

Reconciliation of the U.S. federal statutory rate to the Company's effective rate

A reconciliation of the U.S. federal statutory rate of 21% beginning for the year-ended December 31, 2018 and 35% for the year-ended December 31, 2017 to the Company's effective rate is as follows:



	Year Ended December 31,
	2019			2018			2017
	(In millions, except percentages)
Income Before Income Taxes	$	(104	)	$	116		$	48
Tax at 21%/35%	(22		)	24			17
State taxes, net of federal benefit	(7		)	8			(3		)
Deferred state rate change due to deconsolidation from NRG	—			20			—
Tax Cuts and Jobs Act - tax rate change	—			—			68
Impact of non-taxable equity earnings	24			8			(9		)
Investment tax credits	(1		)	(3		)	(1		)
Production tax credits, including prior year true-up	(1		)	(1		)	(1		)
Valuation allowance adjustment	—			3			—
Other	(1		)	3			1
Income tax (benefit) expense	$	(8	)	$	62		$	72
Effective income tax rate	7.7		%	53.4		%	150.0		%

Company's deferred tax assets and liabilities

The temporary differences, which gave rise to the Company's deferred tax assets, consisted of the following:



	As of December 31,
	2019			2018
	(In millions)
Deferred tax liabilities:
Investment in projects	$	227		$	192
Total deferred tax liabilities	227			192
Deferred tax assets:
Interest expense disallowance carryforward - Investment in Projects	50			28
Production tax credits	9			8
Investment tax credits	5			5
U.S. Federal net operating loss carryforwards	215			199
Capital loss carryforwards	12			12
State net operating loss carryforwards	43			12
Total deferred tax assets	334			264
Valuation allowance	$	(15	)	$	(15	)
Total deferred tax assets, net of valuation allowance	$	319		$	249
Net deferred noncurrent tax asset	$	92		$	57

Commitments and Contingencies (Details) - USD ($) $ in Millions	8 Months Ended	12 Months Ended
	Aug. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Long-term Purchase Commitment [Line Items]
Power procurement arrangements		$ 38	$ 39	$ 34
Purchase obligation, due in 2020		9
Purchase obligation, due in 2021		3
Purchase obligation, due in 2022		3
Purchase obligation, due in 2023		3
Purchase obligation, due in 2024		3
Purchase obligation, thereafter		10
Total		$ 31
Thermal \| NRG
Long-term Purchase Commitment [Line Items]
Incurred expenses for transactions with related party	$ 7			$ 9

Accounting for Derivative Instruments and Hedging Activities - Phantom (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Accumulated OCL ending balance, net of income tax benefit of $6, $7 and $9, respectively	$ 6	$ 7	$ 9
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $3	3
Paid	0	0
Received	$ 0	$ 0

Accounting for Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Net notional volume buy/(sell) of NRG Yield's open derivative transactions broken out by commodity

The following table summarizes the net notional volume buy/(sell) of the Company's open derivative transactions broken out by commodity as of December 31, 2019 and 2018:



		Total Volume
		December 31, 2019			December 31, 2018
Commodity	Units	(In millions)
Natural Gas	MMBtu	2			1
Power	MWh	(2		)	—
Interest	Dollars	$	1,788		$	1,862

Fair value within the derivative instrument valuation on the balance sheets

The following table summarizes the fair value within the derivative instrument valuation on the balance sheet:



	Fair Value
	Derivative Assets^(a)		Derivative Liabilities
	December 31, 2018		December 31, 2019		December 31, 2018
	(In millions)
Derivatives Designated as Cash Flow Hedges:
Interest rate contracts current	$	2	$	3	$	1
Interest rate contracts long-term	3		11		6
Total Derivatives Designated as Cash Flow Hedges	5		14		7
Derivatives Not Designated as Cash Flow Hedges:
Interest rate contracts current	1		13		3
Interest rate contracts long-term	5		56		11
Commodity contracts long-term	—		9		—
Total Derivatives Not Designated as Cash Flow Hedges	6		78		14
Total Derivatives	$	11	$	92	$	21

^(a) Derivative Asset balances classified as current are included within the prepayments and other current assets line item of the Consolidated Balance Sheet.

Offsetting of derivatives by counterparty master agreement level and collateral received or paid

The following tables summarize the offsetting of derivatives by counterparty master agreement level:



	Gross Amounts Not Offset in the Statement of Financial Position
As of December 31, 2019	Gross Amounts of Recognized Assets/Liabilities			Derivative Instruments			Net Amount
Commodity contracts:	(In millions)
Derivative liabilities	(9		)	(1		)	(10		)
Total commodity contracts	(9		)	(1		)	(10		)
Interest rate contracts:
Derivative liabilities	(83		)	1			(82		)
Total interest rate contracts	(83		)	1			(82		)
Total derivative instruments	$	(92	)	$	—		$	(92	)



	Gross Amounts Not Offset in the Statement of Financial Position
As of December 31, 2018	Gross Amounts of Recognized Assets/Liabilities			Derivative Instruments			Net Amount
Interest rate contracts:
Derivative assets	11			(1		)	10
Derivative liabilities	(21		)	1			(20		)
Total interest rate contracts	(10		)	—			(10		)
Total derivative instruments	$	(10	)	$	—		$	(10	)

Effects of NRG Yield's accumulated OCI balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax

The following table summarizes the effects on the Company’s accumulated OCL balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax:



	Year ended December 31,
	2019			2018			2017
	(In millions)
Accumulated OCL beginning balance	$	(38	)	$	(60	)	$	(70	)
Reclassified from accumulated OCL to income due to realization of previously deferred amounts	16			14			10
Mark-to-market of cash flow hedge accounting contracts	(9		)	8			—
Accumulated OCL ending balance, net of income tax benefit of $6, $7 and $9, respectively	$	(31	)	$	(38	)	$	(60	)
Accumulated OCL attributable to noncontrolling interests	(16		)	(20		)	(32		)
Accumulated OCL attributable to Clearway Energy, Inc.	$	(15	)	$	(18	)	$	(28	)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $3	$	(7	)

Property, Plant and Equipment (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 7,943	$ 7,943	$ 6,835
Accumulated depreciation	(1,880)	(1,880)	(1,590)
Net property, plant and equipment	6,063	6,063	5,245
Prepaid long term service agreement	10	10	6
Depreciation expense		395	330
Support Equipment and Facilities
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,676	7,676	6,638
Land and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	173	173	171
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	94	$ 94	$ 26
Minimum \| Support Equipment and Facilities
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life		2 years
Maximum \| Support Equipment and Facilities
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life		45 years
Repowering Partnership II LLC
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 54

Accounting for Derivative Instruments and Hedging Activities - Offsetting Derivatives by Counterparty Master Agreement Level (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative assets		$ 11
Derivative liabilities	$ (92)	(21)
Fair value of gross derivative assets/(liabilities), net	(92)	(10)
Derivative instruments	0	0
Net amount	(92)	(10)
Commodity contracts
Derivative [Line Items]
Derivative liabilities	(9)
Derivative instruments	(1)
Net amount	(10)
Fair value of gross derivative assets/(liabilities), net	(9)
Derivative instruments	(1)
Net amount	(10)
Interest Rate Contract
Derivative [Line Items]
Derivative assets		11
Derivative instruments		(1)
Net amount		10
Derivative liabilities	(83)	(21)
Derivative instruments	1	1
Net amount	(82)	(20)
Fair value of gross derivative assets/(liabilities), net	(83)	(10)
Derivative instruments	1	0
Net amount	$ (82)	$ (10)

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

Cash and Cash Equivalents, and Restricted Cash

Cash and cash equivalents include highly liquid investments with an original maturity of three months or less at the time of purchase. Cash and cash equivalents held at project subsidiaries was $125 million and $109 million as of December 31, 2019 and 2018, respectively.



	Year ended December 31,
	2019		2018
	(In millions)
Cash and cash equivalents	$	155	$	407
Restricted cash	262		176
Cash, cash equivalents and restricted cash shown in the statements of cash flows	417		583

On January 29, 2019, PG&E filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Company has non-recourse project-level debt related to each of its subsidiaries that sell their output to PG&E under long-term PPAs. The PG&E Bankruptcy filing is an event of default under the related financing agreements. As of December 31, 2019, all project level cash balances for these subsidiaries were classified as restricted cash.

Accounts Receivable — Trade and Allowance for Doubtful Accounts

Inventory

Property, Plant and Equipment

Asset Impairments

Debt Issuance Costs

Intangible Assets

Intangible assets represent contractual rights held by the Company. The Company recognizes specifically identifiable intangible assets including power purchase agreements, leasehold improvements, customer relationships, customer contracts and development rights when specific rights and contracts are acquired. These intangible assets are amortized primarily on a straight-line basis. For further discussion of the Company's intangible assets, refer to Note 8, Intangible Assets, to the Consolidated Financial Statements.

Revenue Recognition

Revenue from Contracts with Customers

Thermal Revenues

Power Purchase Agreements, or PPAs

Renewable Energy Credits, or RECs

Disaggregated Revenues

The following tables represent the Company’s disaggregation of revenue from contracts with customers for the year ended December 31, 2019, along with the reportable segment for each category:



	Year ended December 31, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	5		$	545		$	120		$	670
Capacity revenue^(a)	348			—			54			402
Other revenues	—			10			30			40
Contract amortization	(7		)	(61		)	(3		)	(71		)
Mark-to-market for economic hedges	—			(9		)	—			(9		)
Total operating revenue	346			485			201			1,032
Less: Lease revenue	(353		)	(509		)	(2		)	(864		)
Less: Contract amortization	7			61			3			71
Total revenue from contracts with customers	$	—		$	37		$	202		$	239

^(a)See Note 17, Leases for the amounts of energy and capacity revenue that relate to leases and are accounted for under ASC 842.

The following tables represent the Company’s disaggregation of revenue from contracts with customers for the year ended December 31, 2018, along with the reportable segment for each category:



	Year ended December 31, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	5		$	572		$	120		$	697
Capacity revenue^(a)	337			—			50			387
Other revenues	—			13			26			39
Contract amortization	(5		)	(62		)	(3		)	(70		)
Total operating revenue	337			523			193			1,053
Less: Lease revenue	(342		)	(534		)	(2		)	(878		)
Less: Contract amortization	5			62			3			70
Total revenue from contracts with customers	$	—		$	51		$	194		$	245

^(a)See Note 17, Leases for the amounts of energy and capacity revenue that relate to leases and are accounted for under ASC 840.

Contract Amortization

Assets and liabilities recognized from power sales agreements assumed through acquisitions related to the sale of electric capacity and energy in future periods for which the fair value has been determined to be significantly less (more) than market are amortized to revenue over the term of each underlying contract based on actual generation and/or contracted volumes or on a straight-line basis, where applicable.

Contract Balances

The following table reflects the contract assets and liabilities included on the Company’s balance sheet as of December 31, 2019:



(In millions)	December 31, 2019		December 31, 2018
Accounts receivable, net - Contracts with customers	$	34	$	35
Accounts receivable, net - Leases	82		69
Total accounts receivable, net	$	116	$	104

Derivative Financial Instruments


•	Recognized in earnings as an offset to the changes in the fair value of the related hedged assets, liabilities and firm commitments; or


•	Deferred and recorded as a component of accumulated OCI until the hedged transactions occur and are recognized in earnings.

Concentrations of Credit Risk

Fair Value of Financial Instruments

Asset Retirement Obligations



(In millions)
Balance as of December 31, 2018	$	67
Revisions in estimates for current obligations/Additions	3
Accretion — expense	5
Balance as of December 31, 2019	$	75

Guarantees

Investments Accounted for by the Equity Method

Sale-Leaseback Arrangements

Stock-Based Compensation

Income Taxes

The Company has two categories of income tax expense or benefit — current and deferred, as follows:


•	Current income tax expense or benefit consists solely of current taxes payable less applicable tax credits, and


•	Deferred income tax expense or benefit is the change in the net deferred income tax asset or liability, excluding amounts charged or credited to accumulated other comprehensive income.

Business Combinations

Use of Estimates

Tax Equity Arrangements

Reclassification

Certain prior year amounts have been reclassified for comparative purposes.

Recent Accounting Developments - Adopted in 2019

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of the components of the Company's intangible assets subject to amortization

The following tables summarize the components of intangible assets subject to amortization:



Year ended December 31, 2019	PPAs			Leasehold Rights			Customer Relationships			Customer Contracts			Emission Allowances			Other			Total
(In millions)
January 1, 2019	$	1,280		$	86		$	66		$	15		$	9		$	8		$	1,464
Acquisition of Carlsbad Energy Center	350			—			—			—			8			—			358
December 31, 2019	$	1,630		$	86		$	66		$	15		$	17		$	8		$	1,822
Less accumulated amortization	(347		)	(22		)	(9		)	(10		)	(2		)	(4		)	(394		)
Net carrying amount	$	1,283		$	64		$	57		$	5		$	15		$	4		$	1,428



Year ended December 31, 2018	PPAs			Leasehold Rights			Customer Relationships			Customer Contracts			Emission Allowances			Other			Total
(In millions)
December 31, 2018	$	1,280		$	86		$	66		$	15		$	9		$	8		$	1,464
Less accumulated amortization	(269		)	(18		)	(7		)	(9		)	(2		)	(3		)	(308		)
Net carrying amount	$	1,011		$	68		$	59		$	6		$	7		$	5		$	1,156

Long-term Debt - Short and Long-term Borrowings (Details) - USD ($)						12 Months Ended
	Dec. 06, 2019	Jun. 14, 2019	Apr. 29, 2019	Apr. 30, 2018	Apr. 28, 2018	Dec. 31, 2019	Dec. 11, 2019	Nov. 13, 2019	May 01, 2019	Feb. 01, 2019	Dec. 31, 2018	Oct. 01, 2018	May 31, 2018
Debt Instrument [Line Items]
Outstanding aggregate principal amount											$ 6,044,000,000
Less current maturities						$ (1,824,000,000)					(535,000,000)
Less net debt issuance costs						(78,000,000)					(61,000,000)
Less discounts						0					(1,000,000)
Total long-term debt						4,956,000,000					5,447,000,000
3.5% Convertible Notes due 2019
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 0				$ 170,000,000	220,000,000
Interest rate, percentage						3.50%
3.25% Convertible Notes due 2020
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 45,000,000					45,000,000
Interest rate, percentage						3.25%
5.375% Senior Notes due in 2024
Debt Instrument [Line Items]
Senior Notes						$ 88,000,000					500,000,000
Interest rate, percentage						5.375%
5.75% Senior Notes due 2025
Debt Instrument [Line Items]
Senior Notes						$ 600,000,000					600,000,000
Interest rate, percentage						5.75%						5.75%
5.00% Senior Notes due in 2026
Debt Instrument [Line Items]
Senior Notes						$ 350,000,000					350,000,000
Interest rate, percentage						5.00%
4.75% Senior Notes due 2028
Debt Instrument [Line Items]
Senior Notes						$ 600,000,000					0
Interest rate, percentage						4.75%	4.75%
Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 0					0
Description of variable rate basis						3-Month LIBOR
Basis spread on variable rate				2.50%	1.75%	1.75%
Agua Caliente Borrower 2
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 0					39,000,000
Interest rate, percentage						5.43%
Alpine Financing Agreement, due 2022
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 119,000,000					127,000,000
Description of variable rate basis						3-Month LIBOR
Alta Wind I-V, lease financing arrangement, due 2034 and 2035
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 844,000,000					886,000,000
Buckthorn Solar, due 2025
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 129,000,000					132,000,000		$ 132,000,000
Description of variable rate basis						3-Month LIBOR
Basis spread on variable rate						1.75%
Carlsbad Holdco, due 2038
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 216,000,000					0
Interest rate, percentage						4.21%
Letters of credit outstanding						$ 5,000,000
Carlsbad Energy Holdings LLC, due 2027
Debt Instrument [Line Items]
Outstanding aggregate principal amount	$ 194,000,000					582,000,000					0
Interest rate, percentage	4.12%
Letters of credit outstanding						87,000,000
Basis spread on variable rate	1.75%
CVSR Financing Agreement
Debt Instrument [Line Items]
Outstanding aggregate principal amount						696,000,000					720,000,000
CVSR Holdco due 2037
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 182,000,000					188,000,000
Interest rate, percentage						4.68%
Duquesne Due 2059
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 95,000,000					0
Interest rate, percentage						462.00%
El Segundo Energy Center, due 2023
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 303,000,000					352,000,000
Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037
Debt Instrument [Line Items]
Outstanding aggregate principal amount						328,000,000					328,000,000
Laredo Ridge Wind, LLC, due in 2026
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 84,000,000					89,000,000
Description of variable rate basis						3-Month LIBOR
Basis spread on variable rate						2.125%
Kansas South, due in 2030
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 24,000,000					26,000,000
Description of variable rate basis						6-Month LIBOR
Basis spread on variable rate						2.25%
Kansas South, due in 2030 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate						2.00%
Kawailoa Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 82,000,000					0
Basis spread on variable rate						1.375%
Marsh Landing Term Loan Facility
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 206,000,000					263,000,000
Description of variable rate basis						3-Month LIBOR
Basis spread on variable rate						2.125%
Oahu Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 91,000,000		$ 90,000,000			0
Basis spread on variable rate						1.375%
Repowering Partnership Holdco LLC, due 2020
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 228,000,000					0
Basis spread on variable rate						0.85%
South Trent Wind Due 2028
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 43,000,000					50,000,000
Description of variable rate basis						3-Month LIBOR
Basis spread on variable rate						1.35%
Tapestry Wind LLC due in 2031
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 156,000,000					151,000,000
Description of variable rate basis						3-Month LIBOR
Basis spread on variable rate						1.375%
Utah Solar Portfolio, due 2022
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 254,000,000					267,000,000
Basis spread on variable rate						2.625%
Viento Funding II, Inc., due in 2023
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 42,000,000					146,000,000
Description of variable rate basis						6-Month LIBOR
Basis spread on variable rate						2.00%
Walnut Creek Energy, LLC, due in 2023
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 175,000,000					222,000,000
Description of variable rate basis						3-Month LIBOR
Basis spread on variable rate						1.75%
Other Debt
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 296,000,000					343,000,000
Project Level Debt
Debt Instrument [Line Items]
Outstanding aggregate principal amount						5,175,000,000					$ 4,329,000,000
Letter of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding						70,000,000
Letter of Credit \| Agua Caliente Borrower 2
Debt Instrument [Line Items]
Letters of credit outstanding						14,000,000
Letter of Credit \| Alpine Financing Agreement, due 2022
Debt Instrument [Line Items]
Letters of credit outstanding						16,000,000
Letter of Credit \| Alta Wind I-V, lease financing arrangement, due 2034 and 2035
Debt Instrument [Line Items]
Letters of credit outstanding						45,000,000
Letter of Credit \| Buckthorn Solar, due 2025
Debt Instrument [Line Items]
Letters of credit outstanding						26,000,000
Letter of Credit \| CVSR Financing Agreement
Debt Instrument [Line Items]
Letters of credit outstanding						0
Letter of Credit \| CVSR Holdco due 2037
Debt Instrument [Line Items]
Letters of credit outstanding						13,000,000
Letter of Credit \| Duquesne Due 2059
Debt Instrument [Line Items]
Interest rate, percentage									4.62%
Letter of Credit \| El Segundo Energy Center, due 2023
Debt Instrument [Line Items]
Letters of credit outstanding						138,000,000
Letter of Credit \| Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037
Debt Instrument [Line Items]
Letters of credit outstanding						0
Letter of Credit \| Laredo Ridge Wind, LLC, due in 2026
Debt Instrument [Line Items]
Letters of credit outstanding						10,000,000
Letter of Credit \| Kansas South, due in 2030
Debt Instrument [Line Items]
Letters of credit outstanding						2,000,000
Letter of Credit \| Kawailoa Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Letters of credit outstanding						13,000,000
Letter of Credit \| Marsh Landing Term Loan Facility
Debt Instrument [Line Items]
Letters of credit outstanding						27,000,000
Letter of Credit \| Oahu Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Letters of credit outstanding						17,000,000
Letter of Credit \| Repowering Partnership Holdco LLC, due 2020
Debt Instrument [Line Items]
Letters of credit outstanding						4,000,000
Letter of Credit \| South Trent Wind Due 2028
Debt Instrument [Line Items]
Letters of credit outstanding						12,000,000
Letter of Credit \| South Trent Wind Due 2028 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		1.35%
Letter of Credit \| Tapestry Wind LLC due in 2031
Debt Instrument [Line Items]
Letters of credit outstanding						18,000,000
Letter of Credit \| Tapestry Wind LLC due in 2031 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			1.375%
Letter of Credit \| Utah Solar Portfolio, due 2022
Debt Instrument [Line Items]
Letters of credit outstanding						13,000,000
Letter of Credit \| Viento Funding II, Inc., due in 2023
Debt Instrument [Line Items]
Letters of credit outstanding						14,000,000
Letter of Credit \| Walnut Creek Energy, LLC, due in 2023
Debt Instrument [Line Items]
Letters of credit outstanding						74,000,000
Letter of Credit \| Other Debt
Debt Instrument [Line Items]
Letters of credit outstanding						$ 24,000,000
Minimum \| Alpine Financing Agreement, due 2022
Debt Instrument [Line Items]
Basis spread on variable rate						2.00%
Minimum \| Alta Wind I-V, lease financing arrangement, due 2034 and 2035
Debt Instrument [Line Items]
Interest rate, percentage						5.696%
Minimum \| Carlsbad Energy Holdings LLC, due 2027
Debt Instrument [Line Items]
Basis spread on variable rate						1.625%
Minimum \| CVSR Financing Agreement
Debt Instrument [Line Items]
Interest rate, percentage						2.339%
Minimum \| El Segundo Energy Center, due 2023
Debt Instrument [Line Items]
Description of variable rate basis						3-Month LIBOR
Basis spread on variable rate						1.75%
Maximum \| Alta Wind I-V, lease financing arrangement, due 2034 and 2035
Debt Instrument [Line Items]
Interest rate, percentage						7.015%
Maximum \| Carlsbad Energy Holdings LLC, due 2027
Debt Instrument [Line Items]
Basis spread on variable rate						4.12%
Maximum \| CVSR Financing Agreement
Debt Instrument [Line Items]
Interest rate, percentage						3.775%
Maximum \| El Segundo Energy Center, due 2023
Debt Instrument [Line Items]
Description of variable rate basis						3-Month LIBOR
Basis spread on variable rate						2.375%

Accounting for Derivative Instruments and Hedging Activities - Impact of Statement of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest Rate Contract \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized (loss) gain on derivatives, net of tax	$ (65)	$ 15	$ 6
Energy Related Derivative
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, loss on derivative	$ 9

Nature of Business Nature of Business (Tables)	12 Months Ended
Nature of Business Nature of Business (Tables)	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company organization chart	The following table represents the structure of the Company as of December 31, 2019:

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, plant and equipment

Property, Plant and Equipment

The Company’s major classes of property, plant, and equipment were as follows:



	December 31, 2019			December 31, 2018			Depreciable Lives
	(In millions)
Facilities and equipment	$	7,676		$	6,638		2 - 45 Years
Land and improvements	173			171
Construction in progress ^(a)	94			26
Total property, plant and equipment	7,943			6,835
Accumulated depreciation	(1,880		)	(1,590		)
Net property, plant and equipment	$	6,063		$	5,245

Depreciation expense related to property, plant and equipment during the years ended December 31, 2019 and December 31, 2018 was $395 million and $330 million, respectively. The Company accelerated depreciation of the Wildorado Wind and Elbow Creek projects in connection with the repowering project, which resulted in additional depreciation expense in the amount of $54 million.

The Company recorded long-lived asset impairments during the year ended December 31, 2019, as further described in Note 9, Asset Impairments.

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Long-term purchase commitment

As of December 31, 2019, the Company's commitments under such outstanding agreements are estimated as follows:



Period	(In millions)
2020	$	9
2021	3
2022	3
2023	3
2024	3
Thereafter	10
Total	$	31

Schedule I - Condensed Financial Information of Registrant - CF (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Cash Flow Statements, Captions [Line Items]
Net Cash (Used in) Provided by Operating Activities	$ 477	$ 498	$ 517
Net Cash Provided by (Used in) Investing Activities	(468)	(185)	(442)
Payments for long-term debt	(1,484)	(810)	(332)
Proceeds from the issuance of common stock	100	153	34
Net Cash (Used in) Provided by Financing Activities	(175)	(46)	(257)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	407
Cash, Cash Equivalents and Restricted Cash at End of Period	155	407
Clearway Energy, Inc.
Condensed Cash Flow Statements, Captions [Line Items]
Net Cash (Used in) Provided by Operating Activities	(5)	3	0
Investments in consolidated affiliates	(87)	(150)	(33)
Cash received from notes receivable - affiliate	215	359	0
Net Cash Provided by (Used in) Investing Activities	128	209	(33)
Payments for long-term debt	(220)	(367)	0
Proceeds from the issuance of common stock	100	153	34
Cash received from Clearway Energy LLC for the payment of dividends	87	130	108
Common stock dividends	(87)	(130)	(108)
Net Cash (Used in) Provided by Financing Activities	(120)	(214)	34
Net (Decrease) Increase in Cash and Cash Equivalents	3	(2)	1
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	0	2	1
Cash, Cash Equivalents and Restricted Cash at End of Period	$ 3	$ 0	$ 2

Stockholders' Equity (Details) - USD ($)						3 Months Ended				12 Months Ended
Stockholders' Equity (Details) - USD ($)	Mar. 16, 2020	Mar. 02, 2020	Feb. 18, 2020	Dec. 02, 2019	Sep. 27, 2018	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Class of Stock
Shares of common stock sold				5,405,405	3,916,449						4,492,473
Proceeds from issuance or sale of equity				$ 100,000,000	$ 75,000,000
Par value - common stock (in usd per share)						$ 0.01				$ 0.01
Aggregate sales price						$ 150,000,000				$ 150,000,000
Gross proceeds from sale of class C common stock											$ 79,000,000
Commissions incurred											$ 790,000
Dividends per common share (in dollars per share)						$ 0.20	$ 0.20	$ 0.20	$ 0.20
Preferred stock, authorized (in shares)						10,000,000				10,000,000	10,000,000
Par value - preferred stock (in usd per share)						$ 0.01				$ 0.01	$ 0.01
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued						$ 0				$ 0	$ 0
Distributions paid to NRG						$ 0.20	$ 0.20	$ 0.20	$ 0.20
Clearway Energy LLC \| Clearway Energy, Inc.
Class of Stock
Company ownership, percentage										57.01%
Clearway Energy LLC \| CEG
Class of Stock
Company ownership, percentage										42.99%
ATM Program
Class of Stock
Shares of common stock sold										6,414,339
Gross proceeds from sale of class C common stock										$ 114,000,000
Class C common stock remaining available for issuance						$ 36,000,000				$ 36,000,000
Subsequent Event
Class of Stock
Quarterly dividend, date declared			Feb. 18, 2020
Class C common stock payable per share			$ 0.21
Dividends payable, date to be paid	Mar. 16, 2020
Stockholders, date of record		Mar. 02, 2020

Schedule I - Condensed Financial Information of Registrant - B/S (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 155	$ 407
Accounts receivable — affiliates	2	0
Deferred income taxes	92	57
Total Assets	9,700	8,500
Current portion of long-term debt	1,824	535
Accounts payable — affiliate	31	19
Long-term debt		6,044
Other non-current liabilities	121	108
Total Liabilities	7,437	6,276
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued	0	0
Class A, Class B, Class C and Class D common stock, $0.01 par value; 3,000,000,000 shares authorized (Class A 500,000,000, Class B 500,000,000, Class C 1,000,000,000, Class D 1,000,000,000); 198,819,999 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 78,742,854, Class D 42,738,750) at December 31, 2019 and 193,251,396 shares issued and outstanding (Class A 34,586,250, Class B 42,738,750, Class C 73,187,646, Class D 42,738,750) at December 31, 2018	1	1
Additional paid-in capital	1,936	1,897
Accumulated deficit	(72)	(58)
Accumulated other comprehensive loss	(15)	(18)
Noncontrolling interest	413	402
Total Stockholders' Equity	2,263	2,224	$ 2,159	$ 2,624
Total Liabilities and Stockholders' Equity	9,700	8,500
Clearway Energy, Inc.
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	3	0	$ 2	$ 1
Accounts receivable — affiliates	2	0
Notes receivable — current	44	215
Investment in consolidated subsidiaries	2,173	2,182
Note receivable - Clearway Energy Operating LLC	0	44
Deferred income taxes	92	57
Total Assets	2,314	2,498
Current portion of long-term debt	44	220
Accounts payable — affiliate	0	5
Other current liabilities	1	0
Long-term debt	0	44
Other non-current liabilities	6	5
Total Liabilities	51	274
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued	0	0
Class A, Class B, Class C and Class D common stock, $0.01 par value; 3,000,000,000 shares authorized (Class A 500,000,000, Class B 500,000,000, Class C 1,000,000,000, Class D 1,000,000,000); 198,819,999 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 78,742,854, Class D 42,738,750) at December 31, 2019 and 193,251,396 shares issued and outstanding (Class A 34,586,250, Class B 42,738,750, Class C 73,187,646, Class D 42,738,750) at December 31, 2018	1	1
Additional paid-in capital	1,936	1,897
Accumulated deficit	(72)	(58)
Accumulated other comprehensive loss	(15)	(18)
Noncontrolling interest	413	402
Total Stockholders' Equity	2,263	2,224
Total Liabilities and Stockholders' Equity	$ 2,314	$ 2,498

Long-term Debt - Interest Rate Swaps (Details) - Interest Rate Swap $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Notional amount	$ 1,788
NRG Solar Alpine LLC
Debt Instrument [Line Items]
Percentage of principal	85.00%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 101
Avra Valley \| Maturity - November 30, 2030
Debt Instrument [Line Items]
Percentage of principal	86.00%
Fixed interest rate	2.333%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 41
AWAM \| Maturity - May 15, 2031
Debt Instrument [Line Items]
Percentage of principal	100.00%
Fixed interest rate	2.47%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 15
Blythe \| Maturity - June 25, 2028
Debt Instrument [Line Items]
Percentage of principal	75.00%
Fixed interest rate	3.563%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 11
Buckthorn Solar \| Maturity - December 31, 2041
Debt Instrument [Line Items]
Percentage of principal	82.00%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 106
El Segundo
Debt Instrument [Line Items]
Percentage of principal	95.00%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 288
Kansas South \| Maturity - December 31, 2030
Debt Instrument [Line Items]
Percentage of principal	75.00%
Fixed interest rate	2.368%
Description of variable rate basis	6-Month LIBOR
Notional amount	$ 18
Laredo Ridge \| Maturity - March 31, 2026
Debt Instrument [Line Items]
Percentage of principal	80.00%
Fixed interest rate	2.31%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 67
Marsh Landing \| Maturity - June 30, 2023
Debt Instrument [Line Items]
Percentage of principal	94.00%
Fixed interest rate	3.244%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 195
Roadrunner \| Maturity - December 31, 2029
Debt Instrument [Line Items]
Percentage of principal	76.00%
Fixed interest rate	4.313%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 22
South Trent \| Maturity - June14, 2020
Debt Instrument [Line Items]
Percentage of principal	95.00%
Fixed interest rate	3.847%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 39
Tapestry Wind \| Maturity - December 31, 2029
Debt Instrument [Line Items]
Percentage of principal	50.00%
Fixed interest rate	3.57%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 12
Tapestry Wind \| Maturity - December 21, 2021
Debt Instrument [Line Items]
Percentage of principal	75.00%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 117
Utah Portfolio \| Maturity - September 30, 2036
Debt Instrument [Line Items]
Percentage of principal	80.00%
Description of variable rate basis	1-Month LIBOR
Notional amount	$ 203
Viento Funding II
Debt Instrument [Line Items]
Percentage of principal	93.00%
Description of variable rate basis	6-Month LIBOR
Notional amount	$ 39
Viento Funding II \| Maturity - June 30, 2028
Debt Instrument [Line Items]
Fixed interest rate	4.985%
Description of variable rate basis	6-Month LIBOR
Notional amount	$ 21
Walnut Creek \| Maturity - May 31, 2023
Debt Instrument [Line Items]
Percentage of principal	90.00%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 158
WCEP Holdings \| Maturity - May 31, 2023
Debt Instrument [Line Items]
Percentage of principal	100.00%
Fixed interest rate	4.003%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 39
Oahu Solar Holdings LLC Debt \| Maturity - October 31, 2040
Debt Instrument [Line Items]
Percentage of principal	96.00%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 88
Kawailoa Solar Holdings LLC Debt \| Maturity - October 31, 2040
Debt Instrument [Line Items]
Percentage of principal	94.00%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 77
Carlsbad Drop Down \| Maturity - September 30, 2027
Debt Instrument [Line Items]
Percentage of principal	75.00%
Description of variable rate basis	3-Month LIBOR
Notional amount	$ 131