0001567683-21-000009 | 10-K | XBRL Viewer

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Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2020	Jan. 31, 2021	Jun. 30, 2020
Class of Stock
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-36002
Entity Registrant Name	Clearway Energy, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-1777204
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
City Area Code	609
Local Phone Number	608-1525
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 1,786,941,297
Entity Central Index Key	0001567683
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Documents Incorporated by Reference	Documents Incorporated by Reference: Portions of the Registrant's Definitive Proxy Statement relating to its 2021 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K
Common Class A
Class of Stock
Title of 12(b) Security	Class A Common Stock, par value $0.01
Trading Symbol	CWEN.A
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		34,599,645
Common Class B
Class of Stock
Entity Common Stock, Shares Outstanding		42,738,750
Common Class C
Class of Stock
Title of 12(b) Security	Class C Common Stock, par value $0.01
Trading Symbol	CWEN
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		81,635,540
Common Class D
Class of Stock
Entity Common Stock, Shares Outstanding		42,738,750

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Revenues
Total operating revenues	$ 1,199	$ 1,032	$ 1,053
Operating Costs and Expenses
Cost of operations	366	337	327
Depreciation, amortization and accretion	428	401	336
Impairment losses	24	33	0
General and administrative	34	29	20
Transaction and integration costs	9	3	20
Development costs	5	5	3
Total operating costs and expenses	866	808	706
Operating Income	333	224	347
Other Income (Expense)
Equity in earnings of unconsolidated affiliates	7	83	74
Impairment loss on investment	(8)	0	0
Gain on sale of unconsolidated affiliate	49	0	0
Other income, net	4	9	8
Loss on debt extinguishment	(24)	(16)	(7)
Interest expense	(415)	(404)	(306)
Total other expense, net	(387)	(328)	(231)
Income before income taxes	(54)	(104)	116
Income tax expense (benefit)	8	(8)	62
Net (Loss) Income	(62)	(96)	54
Less: Pre-acquisition net income of Drop Down Assets	0	0	4
Net (Loss) Income Excluding Pre-acquisition Net Income (Loss) of Drop Down Assets	(62)	(96)	50
Less: Net (loss) income attributable to noncontrolling interests	(87)	(85)	2
Net Income (Loss) Attributable to Clearway Energy, Inc.	$ 25	$ (11)	$ 48
Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
(Loss) Earnings per weighted average common share - basic and diluted (in dollars per share)	$ 0.22	$ (0.10)	$ 0.46
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 (in shares)	35	35	35
Weighted average number of common shares outstanding - diluted (in shares)	35	35	35
(Loss) Earnings per weighted average common share - basic and diluted (in dollars per share)	$ 0.22	$ (0.10)	$ 0.46
Dividends per common share (in usd per share)	$ 1.05	$ 0.80	$ 1.258
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 (in shares)	80	74	69
Weighted average number of common shares outstanding - diluted (in shares)	81	74	69
(Loss) Earnings per weighted average common share - basic and diluted (in dollars per share)	$ 0.22	$ (0.10)	$ 0.46
Dividends per common share (in usd per share)	$ 1.05	$ 0.80	$ 1.258

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net (Loss) Income	$ (62)	$ (96)	$ 54
Other Comprehensive Income (Loss), net of tax
Unrealized gain on derivatives, net of income tax expense of $—, $1, and $2	1	7	22
Other comprehensive income	1	7	22
Comprehensive (Loss) Income	(61)	(89)	76
Less: Pre-acquisition net income of Drop Down Assets	0	0	4
Less: Comprehensive (loss) income attributable to noncontrolling interests	(87)	(81)	14
Comprehensive Income (Loss) Attributable to Clearway Energy, Inc.	$ 26	$ (8)	$ 58

- Definition

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

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+ Details

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Unrealized gain on derivatives, income tax expense	$ 0	$ 1	$ 2

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 268	$ 155
Restricted cash	197	262
Accounts receivable — trade	143	116
Accounts receivable — affiliates	0	2
Inventory	42	40
Prepayments and other current assets	58	33
Total current assets	708	608
Property, plant and equipment, net	7,217	6,063
Other Assets
Equity investments in affiliates	741	1,183
Intangible assets, net	1,370	1,428
Deferred income taxes	104	92
Derivative instruments	1	0
Right-of-use assets, net	337	223
Other non-current assets	114	103
Total other assets	2,667	3,029
Total Assets	10,592	9,700
Current Liabilities
Current portion of long-term debt	384	1,824
Accounts payable — trade	72	74
Accounts payable — affiliates	17	31
Derivative instruments	38	16
Accrued interest expense	44	41
Accrued expenses and other current liabilities	79	71
Total current liabilities	634	2,057
Other Liabilities
Long-term debt	6,585	4,956
Derivative instruments	135	76
Long-term lease liabilities	345	227
Other non-current liabilities	178	121
Total non-current liabilities	7,243	5,380
Total Liabilities	7,877	7,437
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); 201,635,990 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 81,558,845, Class D 42,738,750) at December 31, 2020 and 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	1	1
Additional paid-in capital	1,922	1,936
Accumulated deficit	(84)	(72)
Accumulated other comprehensive loss	(14)	(15)
Noncontrolling interest	890	413
Total Stockholders' Equity	2,715	2,263
Total Liabilities and Stockholders' Equity	$ 10,592	$ 9,700

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
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)	201,635,990	198,819,999
Common stock, shares outstanding (in shares)	201,635,990	198,819,999
Common Class A
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000
Common stock, shares issued (in shares)	34,599,645	34,599,645
Common stock, shares outstanding (in shares)	34,599,645	34,599,645
Common Class B
Par value - common stock (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	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
Common stock, shares issued (in shares)	81,558,845	78,742,854
Common stock, shares outstanding (in shares)	81,558,845	78,742,854
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
Common stock, shares issued (in shares)	42,738,750	42,738,750
Common stock, shares outstanding (in shares)	42,738,750	42,738,750

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
Net (Loss) Income	$ (62)	$ (96)	$ 54
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates	(7)	(83)	(74)
Distributions from unconsolidated affiliates	61	34	70
Depreciation, amortization and accretion	428	401	335
Amortization of financing costs and debt discounts	15	17	24
Amortization of intangibles and out-of-market contracts	90	71	70
Loss on debt extinguishment	24	16	7
Reduction in carrying amount of right-of-use assets	4	7	0
Gain on sale of unconsolidated affiliate	(49)	0	0
Impairment losses	32	33	0
Change in deferred income taxes	8	(8)	62
Changes in derivative instruments	44	85	(16)
Loss on disposal of asset components	3	9	0
Changes in prepaid and accrued liabilities for tolling agreements	(1)	1	0
Changes in other working capital	(45)	(10)	(34)
Net Cash Provided by Operating Activities	545	477	498
Cash Flows from Investing Activities
Acquisitions	0	(100)	(11)
Partnership interest acquisition	0	(29)	0
Acquisition of Drop Down Assets, net of cash acquired	(122)	(161)	(126)
Buyout of Wind TE Holdco noncontrolling interest	0	(19)	0
Capital expenditures	(124)	(228)	(83)
Cash receipts from notes receivable	0	0	13
Return of investment from unconsolidated affiliates	79	56	45
Investments in unconsolidated affiliates	(11)	(13)	(34)
Proceeds from sale of assets	90	20	0
Consolidation of DGPV Holdco 3 LLC	17	0	0
Other	9	6	11
Net Cash Provided by (Used in) Investing Activities	(62)	(468)	(185)
Cash Flows from Financing Activities
Net contributions from noncontrolling interests	247	174	91
Buyout of Repowering Partnership II LLC noncontrolling interest	(70)	0	0
Proceeds from the issuance of common stock	62	100	153
Payments of dividends and distributions	(211)	(155)	(238)
Proceeds from the revolving credit facility	265	152	35
Payments for the revolving credit facility	(265)	(152)	(90)
Proceeds from issuance of long-term debt	1,084	1,215	827
Payments of debt issuance costs	(20)	(25)	(14)
Payments for long-term debt	(1,527)	(1,484)	(810)
Net Cash (Used in) Provided by Financing Activities	(435)	(175)	(46)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	48	(166)	267
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	417	583	316
Cash, Cash Equivalents and Restricted Cash at End of Period	465	417	583
Interest paid, net of amount capitalized	(325)	(313)	(292)
Reductions to fixed assets for accrued capital expenditures	(18)	(2)	(15)
Non-cash adjustment for change in tax basis	21	28	(7)
Non-cash contributions from CEG, NRG, net of distributions	$ 6	$ 36	$ 38

Consolidated Statements of Stockholders Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	DGPV Holdco 3	Mesquite Star HoldCo LLC	Repowering Partnership II LLC	Langford	Rosie Central	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Non-controlling Interest	Non-controlling Interest Cumulative Effect, Period of Adoption, Adjustment	Non-controlling Interest DGPV Holdco 3	Non-controlling Interest Mesquite Star HoldCo LLC	Non-controlling Interest Repowering Partnership II LLC	Non-controlling Interest Langford	Non-controlling Interest Rosie Central	Tax Equity Investors	Tax Equity Investors Non-controlling Interest	CEG	CEG Non-controlling Interest
Beginning balance at Dec. 31, 2017	$ 2,159							$ 0	$ 1	$ 1,843	$ (69)		$ (28)	$ 412
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	54
Net income	50										48			2
Pre-acquisition net loss of acquired Drop Down Assets	4													4
Unrealized gain on derivatives, net of tax	22												10	12
Payment for interests	(52)									1				(53)
Drop Down Assets contingent consideration	(3)									(3)				0
Capital contributions from tax equity investors, net of distributions, cash																					$ 106	$ 106
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
Stock-based compensation	3									4	(1)
Proceeds from issuance of common stock	153									153
Non-cash adjustment for change in tax basis	(7)									(7)
Common stock dividends	(238)									(94)	(36)			(108)
Ending balance at Dec. 31, 2018	2,224	$ (3)						0	1	1,897	(58)	$ (2)	(18)	402	$ (1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	(96)										(11)			(85)
Unrealized gain on derivatives, net of tax	7												3	4
Payment for interests	(19)									(5)				(14)
Drop Down Assets contingent consideration	(35)													(35)
Capital contributions from tax equity investors, net of distributions, cash																					242	242
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
Stock-based compensation	2									3	(1)
Proceeds from issuance of common stock	100									100
Non-cash adjustment for change in tax basis	28									28
Common stock dividends	(155)									(87)				(68)
Ending balance at Dec. 31, 2019	2,263							0	1	1,936	(72)		(15)	413
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	(62)										25			(87)
Unrealized gain on derivatives, net of tax	1												1
Contributions from CEG, non-cash																							$ 6	$ 6
Distributions to noncontrolling interests, non-cash																					(2)	(2)
Payment for interests			$ (20)	$ 361	$ (70)	$ 76	$ 57									$ (20)	$ 361	$ (70)	$ 76	$ 57
Capital contributions from tax equity investors, net of distributions, cash																					$ 240	$ 240	$ 6	$ 6
Lighthouse Partnership Yield Protection Agreement	(15)									(15)
Stock-based compensation	2									2	0
Proceeds from issuance of common stock	62									62
Non-cash adjustment for change in tax basis	21									21
Common stock dividends	(211)									(84)	(37)			(90)
Ending balance at Dec. 31, 2020	$ 2,715							$ 0	$ 1	$ 1,922	$ (84)		$ (14)	$ 890

Nature of Business	12 Months Ended
Nature of Business	Dec. 31, 2020
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 is one of the largest renewable energy owners in the U.S. with over 4,200 net MW of installed wind and solar generation projects. The Company also owns approximately 2,500 net MW of environmentally-sound, highly efficient generation facilities as well as a portfolio of district energy systems. Through this environmentally-sound, diversified and primarily contracted portfolio, the Company endeavors to provide its investors with stable and growing dividend income. Substantially all of the Company's generation assets are under long-term contractual arrangements for the output or capacity from these assets. The Company consolidates the results of Clearway Energy LLC through its controlling interest, with CEG's interest shown as non-controlling 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. The Company owns 57.61% of the economic interests of Clearway Energy LLC, with CEG retaining 42.39% of the economic interests of Clearway Energy LLC as of December 31, 2020. For further discussion, see Note 12, Stockholders' Equity. The following table represents the structure of the Company as of December 31, 2020: 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.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

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.

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, 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 $149 million and $125 million as of December 31, 2020 and 2019, respectively.

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,
	2020		2019
	(In millions)
Cash and cash equivalents	$	268	$	155
Restricted cash	197		262
Cash, cash equivalents and restricted cash shown in the statements of cash flows	$	465	$	417

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, 2020, these restricted funds comprised of $73 million designated to fund operating expenses, approximately $24 million designated for current debt service payments, and $45 million restricted for reserves including debt service, performance obligations and other reserves, as well as capital expenditures. The remaining $55 million is held in distributions reserve 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, 2020 and 2019.

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 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.

Intangible Assets

Intangible assets represent contractual rights held by the Company. The Company recognizes specifically identifiable intangible assets including power purchase agreements, leasehold rights, 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

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, 2020, 2019 and 2018 was $589 million, $537 million and $583 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.

Disaggregated Revenues

The following tables represent the Company’s disaggregation of revenue from contracts with customers for the year ended December 31, 2020, along with the reportable segment for each category:


	Year ended December 31, 2020
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue(a)	$	10	$	609	$	101	$	720
Capacity revenue(a)	451		—		63		514
Other revenues	—		21		32		53
Contract amortization	(24)		(61)		(3)		(88)

Total operating revenue	437		569		193		1,199
Less: Lease revenue	(461)		(554)		(2)		(1,017)
Less: Contract amortization	24		61		3		88
Total revenue from contracts with customers	$	—	$	76	$	194	$	270

(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, 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 840

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

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 net amount of contract assets and liabilities included on the Company’s balance sheet as of December 31, 2020:


(In millions)	December 31, 2020		December 31, 2019
Accounts receivable, net - Contracts with customers	$	57	$	34
Accounts receivable, net - Leases	86		82
Total accounts receivable, net	$	143	$	116

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

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 industries. 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 Company's Business, 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

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.

The following table represents the balance of ARO obligations as of December 31, 2020 and 2019, along with the additions and accretion related to the Company's ARO obligations for the year ended December 31, 2020:


(In millions)
Balance as of December 31, 2019	$	75
Revisions in estimates for current obligations	9
Additions	26

Accretion — expense	7
Balance as of December 31, 2020	$	117

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 $3 million, $4 million and $3 million for the years ended December 31, 2020, 2019 and 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 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, 2018, 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 annual periods presented as if the combination has been in effect from the beginning of the earliest financial statement period presented or from the date the entities were under common control (if later than the beginning of the earliest 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.

Recently Adopted Accounting Standards

In March 2020, the FASB issued ASU No. 2020-4, Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments provide for optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria is met. These amendments apply only to contracts that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022. The Company intends to apply the amendments to all its eligible contract modifications where applicable during the reference rate reform period. As of December 31, 2020, the Company has not elected any optional expedients provided in the standard.

Effective January 1, 2019, the Company adopted ASU No. 2016-02, Leases (Topic 842), or Topic 842 using the modified retrospective transition method. The Company elected available practical expedients permitted under the transition guidance within the new standard, which among other items, allowed the Company to carry forward its historical lease classification and not reassess existing leases under the new definition of a lease in ASC 842. In addition, the Company also elected to account for lease and non-lease components 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.

Recently Issued Accounting Standards Not Yet Adopted

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this ASU simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The guidance is effective January 1, 2021, with early adoption permitted. The Company does not expect the effect of the new guidance to be material on its consolidated financial statements.

Acquisitions and Dispositions

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Acquisitions and Dispositions

2021 Acquisitions

Rattlesnake Drop Down — On January 12, 2021, the Company acquired 100% of CEG's equity interest and a third party investor's minority interest in Rattlesnake Flat, LLC, which owns the Rattlesnake Wind Project, a 160 net MW wind facility located in Adams County, WA for $132 million in cash consideration.

Agua Caliente Acquisition — On February 3, 2021, the Company acquired an additional 35% equity interest in the Agua Caliente solar project from NRG Energy, Inc. for $202 million. Agua Caliente is a 290 MW solar project located in Dateland, Arizona in which Clearway previously owned a 16% equity interest. The project has a 25-year PPA with PG&E, with approximately 19 years remaining under the agreement. Following the close of the transaction, the Company owns a 51% equity interest in Agua Caliente. The Company will remove its equity method investment and consolidate its interest in Agua Caliente from the date of the acquisition.

2020 Acquisitions

Langford Drop Down — On November 20, 2020, the Company acquired 100% of the Class B membership interest in Langford Holding LLC from CEG for $55 million as well as a minority interest from a third party investor for $9 million. Langford Holding LLC indirectly consolidates its interest in the Langford wind project as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities. The Langford project is a 160 MW wind project located in West Texas which achieved repowering commercial operations in November 2020. The Langford operations are included in the Company's Renewables segment and the acquisition was funded with cash on hand. The acquisition was determined to be an asset acquisition and not a business combination, therefore the Company consolidated the financial information for Langford on a prospective basis. The membership interests acquired by the Company relate to interests under common control by GIP and were recorded at historical cost, which reflects GIP's basis recorded at fair value. The difference between the cash paid of $64 million and the historical value of the Company's acquired interests of $21 million was recorded as an adjustment to noncontrolling interest.

The following is a summary of assets and liabilities transferred in connection with the acquisition as of November 20, 2020:


(In millions)	Langford
Current Assets	$	4
Property, plant and equipment, net	138
Other non-current assets	15
Total assets	157

Other current and non-current liabilities	17
Total liabilities	17
Noncontrolling interests	119
Net assets less noncontrolling interests	$	21

Rosamond Central Drop Down — On December 21, 2020, Rosamond Solar Investment LLC, a subsidiary of the Company, acquired 100% of the Class A membership interests of Rosie TargetCo LLC from Renew Development HoldCo LLC, a subsidiary of CEG, for $23 million in cash consideration and an additional $1 million adjustment concurrent with the tax equity investor's final funding which was paid in January 2021. Rosie Target Co LLC is the primary beneficiary and consolidates its interest in a tax equity fund that owns the 192 MW Rosamond Central solar project, located in Kern County, California as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities. The Rosamond Central operations are included in the Company's Renewables segment. The acquisition was determined to be an asset acquisition and not a business combination, and therefore, the Company consolidated the financial information for Rosamond Central on a prospective basis. The membership interests acquired by the Company relate to interests under common control by GIP and were recorded at historical cost. The difference between the cash paid of $24 million and the historical value of the Company's acquired interests of $28 million was recorded as an adjustment to noncontrolling interest.

The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 21, 2020:


(In millions)	Rosamond Central
Current Assets	$	49
Property, plant and equipment, net	246

Other non-current assets	1
Total assets	296

Long-term debt	205
Other current and non-current liabilities	11
Total liabilities	216
Noncontrolling interests	52
Net assets less noncontrolling interests	$	28

Mesquite Star Drop Down — On September 1, 2020, the Company, through its indirect subsidiary Lighthouse Renewable Class A LLC, acquired the Class A membership interests in Lighthouse Renewable Holdco LLC (formerly Mesquite Star Pledgor LLC) from Clearway Renew LLC, a subsidiary of CEG, for $74 million in cash consideration inclusive of a purchase price adjustment received in the fourth quarter of 2020 concurrent with the partnership amendment referenced below. Lighthouse Renewable Holdco LLC indirectly owns 100% of the Class B membership interests in Mesquite Star Tax Equity Holdco LLC, a tax equity partnership that it consolidates as the primary beneficiary, and owns the Mesquite Star wind project, a 419 MW utility scale wind project located in Fisher County, Texas. A majority of the project’s output is backed by contracts with investment grade counterparties with a 12 year weighted average contract life. The Mesquite Star operations are reflected in the Company's Renewables segment and the acquisition was funded with cash on hand. The Company initially recorded its interest in Lighthouse Renewable Class A LLC as an equity method investment. The membership interests acquired by the Company relate to interests under common control by GIP and were recorded at historical cost. The difference between the $74 million cash paid and the historical value of the Company's acquired interests of $83 million was recorded as an adjustment to noncontrolling interest.

On December 21, 2020, Clearway Renew LLC sold the Class B membership interest in Lighthouse Renewable Holdco LLC to a third party investor as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities. The investor and the Company amended the terms of the related partnership and as a result, the Company now consolidates its interest in the Mesquite Star wind project, through its consolidation of Lighthouse Renewable Holdco LLC. The membership interests acquired by the Company relate to interests under common control by GIP and were recorded at historical cost. The difference between the carrying value of the Company's equity method investment of $58 million and the historical value of the net assets consolidated for Mesquite Star of $63 million was recorded as an adjustment to noncontrolling interest.

The following table shows the balances that were consolidated effective on December 21, 2020:


(In millions)	Mesquite Star
Current assets	$	22
Property, plant and equipment, net	443
Other non-current assets	31
Total assets	496

Other current and non-current liabilities	87
Total liabilities	87
Noncontrolling interests and redeemable noncontrolling interests	346
Net assets less noncontrolling interests	$	63

DG Residual Interest and SREC Contract Drop Down — On November 2, 2020, the Company acquired the Class B membership interests in DGPV Holdco 1, DGPV Holdco 2 and DGPV Holdco 3, or DGPV Holdco Entities, from Renew DG Holdings LLC, a subsidiary of CEG, for approximately $20 million in cash consideration and an SREC contract for approximately $24 million in cash consideration. The Company previously held the Class A membership interests in the DGPV Holdco Entities and accounted for its interests in DGPV Holdco 1 and DGPV Holdco 2 as equity method investments, while DGPV Holdco 3 was consolidated by the Company effective May 29, 2020 as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities. Subsequent to the acquisition of the remaining interests in the DGPV Holdco Entities, the Company transferred its interests to DG-CS Master Borrower LLC, and issued debt that was utilized to repay existing project-level debt outstanding and unwind interest rate swaps for certain of the tax equity arrangements related to the underlying project funds, as further described in Note 10, Long-term Debt. The acquired SREC contract is a contract to receive incremental cash flows related to renewable energy credits from certain underlying solar projects. The membership interests acquired by the Company relate to interests under common control by GIP and were recorded at historical cost, which reflects GIP's basis recorded at fair value. The difference between the cash paid for the residual interest of the DGPV Holdco Entities and the historical value of the net assets consolidated less the carrying value of the equity method investments was recorded as an adjustment to noncontrolling interest.

The following table shows the balances that were consolidated:


	November 2, 2020		May 29, 2020
(In millions)	DGPV Holdco 1 and 2 (a)		DGPV Holdco 3 (b)
Current assets	$	29	$	32
Property, plant and equipment, net	324		331
Intangible assets, net	19		1
Other non-current assets	52		37
Total assets	424		401

Long-term debt	160		206
Other current and non-current liabilities	54		84
Total liabilities	214		290
Noncontrolling interests and redeemable noncontrolling interests	5		6
Net assets less noncontrolling interests	$	205	$	105

(a) Includes DGPV 1, LLC, DGPV 2, LLC, CA Fund, LLC, DGPV 4 Borrower LLC and Puma Class B LLC

(b) Includes Renew Solar CS4 Fund LLC and Chestnut Fund LLC

The fair value of property, plant and equipment determined at GIP's acquisition date was determined primarily based on an income method using discounted cash flows and validated using a cost approach based on the replacement cost of the assets less economic depreciation. This methodology was utilized as the forecasted cash flows incorporate specific attributes of each asset including age, useful life, equipment condition and technology. The fair value of intangible assets was determined utilizing a variation of the income approach determined by discounting incremental cash flows associated with the contracts to present value. Primary assumptions utilized included estimates of generation, contractual prices, operating expenses and the weighted average cost of capital reflective of a market participant. These assumptions are considered to be a Level 3 measurement as defined in ASC 820, as they utilize inputs that are not observable in the market.

2019 Acquisitions

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 87 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 Duquesne University District Energy System operations are reflected in the Company's Thermal segment. The total investment for the project was approximately $107 million.

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 MW 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 Carlsbad operations are 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 the Company consolidated the financial information for Carlsbad on a prospective basis.

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


(In millions)	CBAD Holdings, LLC
Current Assets	$	36
Property, plant and equipment, net	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.

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 UPMC Thermal project operations are reflected in the Company's Thermal segment. The acquisition was funded with the proceeds from the sale of the Series E and Series F Notes. 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 the Company consolidated the financial information for UPMC Thermal project on a prospective basis.

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 operations of Central CA Fuel Cell are 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. The operations of the Buckthorn project are reflected in the Company's Renewables segment.

2020 Dispositions

Sale of RPV Holdco 1 LLC — On May 14, 2020, the Company sold its interests in RPV Holdco 1 LLC to a third party for net proceeds of approximately $75 million. The Company previously accounted for its interest in RPV Holdco 1 LLC as an equity method investment. The sale of the investment resulted in a gain of approximately $49 million.

Sale of Energy Center Dover LLC and Energy Center Smyrna LLC Assets — On March 3, 2020, the Company, through Clearway Thermal LLC, sold 100% of its interests in Energy Center Dover LLC and Energy Center Smyrna LLC to DB Energy Assets, LLC for cash proceeds of approximately $15 million.

2019 Dispositions

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.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

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, 2020		December 31, 2019		Depreciable Lives
	(In millions)
Facilities and equipment	$	9,254	$	7,676	2 - 45 Years
Land and improvements	224		173
Construction in progress (a)	62		94
Total property, plant and equipment	9,540		7,943
Accumulated depreciation	(2,323)		(1,880)
Net property, plant and equipment	$	7,217	$	6,063

(a) As of December 31, 2020 and 2019, construction in progress includes $14 million and $10 million of capital expenditures that relate to prepaid long-term service agreements in the Conventional segment, respectively.

Depreciation expense related to property, plant and equipment during the years ended December 31, 2020, 2019 and 2018 was $420 million, $395 million and $330 million, respectively. The Company accelerated depreciation of the Pinnacle wind project in connection with the repowering project in 2020, which resulted in additional depreciation expense in the amount of $9 million. The Company accelerated depreciation of the Wildorado Wind and Elbow Creek projects in connection with the repowering project in 2019, 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, 2020 and December 31, 2019, as further described in Note 9, Asset Impairments.

Investments Accounted for by the Equity Method and Variable Interest Entities

12 Months Ended

Dec. 31, 2020

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 Company's maximum exposure to loss as of December 31, 2020 is limited to its equity investment in the unconsolidated entities, as further summarized in the table below:


Name	Economic Interest	Investment Balance
		(In millions)
Utah Solar Portfolio (a)	50%	$	255
Desert Sunlight	25%	244
Agua Caliente Solar(b)	16%	83
GenConn(c)	50%	90
San Juan Mesa	75%	33
Elkhorn Ridge	66.7%	38
Avenal	50%	(2)
		$	741

(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) On February 3, 2021, the Company acquired an additional 35% equity interest in Agua Caliente Solar and following the close of the transaction owns 51% equity interests in Agua Caliente and will remove its equity method investment and consolidate its interest from the date of the acquisition.

As of December 31, 2020 and 2019, the Company had $10 million and $138 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.

The Company's pro-rata share of non-recourse debt held by unconsolidated affiliates was $481 million as of December 31, 2020.

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


	Year Ended December 31,
	2020		2019		2018
Income Statement Data:	(In millions)
GenConn
Operating revenues	$	60	$	60	$	65
Operating income	26		27		32
Net income	17		17		22
Desert Sunlight
Operating revenues	209		205		208
Operating income	142		123		129
Net income	88		58		84












Other(a)
Operating revenues	299		318		332
Operating income	138		110		126
Net income	$	60	$	50	$	86
			As of December 31,
			2020		2019
Balance Sheet Data:			(In millions)
GenConn
Current assets			$	40	$	37
Non-current assets			344		342
Current liabilities			17		16
Non-current liabilities			185		176
Desert Sunlight
Current assets			132		209
Non-current assets			1,244		1,296
Current liabilities			71		545
Non-current liabilities			921		484

















Other (a)
Current assets			177		279
Non-current assets			2,201		3,412
Current liabilities			114		809
Non-current liabilities			700		500
Redeemable noncontrolling interest			$	—	$	(1)

(a) Includes Agua Caliente, Elkhorn Ridge, Utah Solar Portfolio, San Juan Mesa, DGPV Holdco 1, DGPV Holdco 2 and DGPV Holdco 3. DGPV Holdco 1, DGPV Holdco 2 and DGPV Holdco 3. were consolidated by the Company during 2020 and are therefore excluded from the summarized balance sheet data as of December 31, 2020.

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 and solar facilities and are further described below.

DGPV Holdco 3 Consolidation — DGPV Holdco 3 LLC or DGPV Holdco 3 owned approximately 113 MW of Distributed Solar capacity, based on cash to be distributed, with a weighted average remaining contract life of approximately 21 years. On May 29, 2020, the final construction projects for DGPV Holdco 3 were placed in service which resulted in a reconsideration event for consolidation of the entity. Upon the reconsideration event, the Company determined that it was the primary beneficiary of DGPV Holdco 3, as it is entitled to 99% of allocations of income and cash distributions from the entity. As such, effective on May 29, 2020, the Company consolidates DGPV Holdco 3, and records the interest owned by CEG as noncontrolling interest. DGPV Holdco 3 owns an interest in two tax equity funds with tax equity investors, both of which are consolidated by DGPV Holdco 3, and the interests owned by the tax equity investors are shown as noncontrolling interests. The Company removed its equity method investment in DGPV Holdco 3 of $155 million as of May 29, 2020 and recorded the difference between the net assets consolidated and the investment balance as a reduction to noncontrolling interests. The Company acquired CEG's interest in DGPV Holdco 3 on November 2, 2020 as further described in Note 3, Acquisitions and Dispositions and below.

Prior to the reconsideration event described above, the Company invested $10 million of cash in DGPV Holdco 3 during the first half of 2020.

DGPV Tax Equity Funds — As described in Note 3, Acquisitions and Dispositions, on November 2, 2020, the Company acquired the Class B membership interests in DGPV Holdco 1, DGPV Holdco 2 and DGPV Holdco 3, or the DGPV Holdco Entities, from Renew DG Holdings LLC, a subsidiary of CEG. The Company previously held the Class A membership interests in the DGPV Holdco Entities and accounted for its interests in DGPV Holdco 1 and DGPV Holdco 2 as equity method investments, while DGPV Holdco 3 was consolidated by the Company effective May 29, 2020 as further described above. Concurrent with the acquisition, the Company transferred its interests to DG-CS Master Borrower LLC. Effective with the acquisition of the Class B membership interests of the DGPV Holdco Entities, the Company consolidates all of the DGPV Holdco Entities, including DG-CS Master Borrower LLC, and its subsidiaries, which consist of seven projects including six tax equity funds that collectively own approximately 172 distributed solar projects with a combined 286 MW of capacity. Each of the six tax equity funds is a VIE, where the Company is the primary beneficiary and consolidates the fund, with the tax equity investor's interest shown as noncontrolling interest or redeemable noncontrolling interest. The Company utilizes the HLBV method to determine its share of the income or losses in the investees. The Company removed its equity method investments in DGPV Holdco 1 and DGPV Holdco 2 of $144 million as of November 2, 2020 and recorded the difference between the net assets consolidated and the investment balance as a reduction to noncontrolling interests.

Langford Tax Equity Partnership, LLC — As described in Note 3, Acquisitions and Dispositions, on November 20, 2020, the Company acquired 100% of the Class B membership interest in Langford Holding LLC from CEG for $55 million as well as 100% of the Class A membership interests in Langford Holding LLC from a third party investor for $9 million. Langford Holding LLC owns 100% of the membership interests in Langford Class B Holdco LLC, which owns 100% of the Class B interest in Langford Tax Equity Partnership LLC, which indirectly owns 100% of the interest in a 160 MW wind project. Langford Tax Equity Partnership LLC is a variable interest entity. The Company is the primary beneficiary, through its position as managing member, and indirectly consolidates Langford Tax Equity Partnership LLC, through Langford Class B Holdco LLC. The Class A member is a tax equity investor whose interest is reflected as noncontrolling interest on the Company's consolidated balance sheet. The project achieved repowering COD in November 2020. The Company utilizes the HLBV method for income or loss allocation to the tax equity investor's noncontrolling interest.

Lighthouse Partnership Arrangements

Lighthouse Renewable Holdco LLC — As described in Note 3, Acquisitions and Dispositions, on September 1, 2020, the Company, through its indirect subsidiary Lighthouse Renewable Class A LLC, acquired the Class A membership interests in Lighthouse Renewable Holdco LLC (formerly Mesquite Star Pledgor LLC) from Clearway Renew LLC, a subsidiary of CEG. Lighthouse Renewable Holdco LLC is a VIE and at the time of the acquisition the Company was not the primary beneficiary. Accordingly, the Company recorded the acquired interest as an equity method investment.

On December 21, 2020, CEG sold its Class B membership interest in Lighthouse Renewable Holdco LLC to a third-party investor which resulted in a reconsideration event for consolidation of the entity. Upon the reconsideration event, the Company determined that it was the primary beneficiary of Lighthouse Renewable Holdco LLC. As such, effective on

December 21, 2020, the Company consolidates Lighthouse Renewable Holdco LLC, and shows the Class B interests owned by the third party investor as noncontrolling interests on the Company’s consolidated balance sheet. Through its Class A membership interests, the Company receives 50.01% of income and distributable cash. In addition, Lighthouse Renewable Holdco LLC holds the Class B interests in a tax equity fund, Mesquite Star Tax Equity Holdco LLC, that holds the Mesquite Star project. The tax equity investor's interest is shown as noncontrolling interest. The HLBV method is utilized to allocate the income or losses of Mesquite Star Tax Equity Holdco LLC.

Rosie TargetCo LLC — As described in Note 3, Acquisitions and Dispositions, on December 21, 2020, the Company acquired 100% of CEG's Class A membership interests of Rosie TargetCo LLC which owns 100% interest in Rosie Class B LLC, which in turn owns 100% of the Class B membership interest of Rosie TE Holdco LLC. The Company consolidates Rosie TargetCo LLC as a VIE as the Company is the primary beneficiary, through its role as managing member. The Class B membership interest of Rosie TargetCo LLC is owned by a third-party investor and is reflected as noncontrolling interest on the Company’s consolidated balance sheet. Through its Class A membership interests in Rosie TargetCo LLC, the Company receives 50% of income and distributable cash. Rosie TargetCo indirectly consolidates Rosie TE Holdco LLC, which is also a VIE. The tax equity investor's interest is shown as noncontrolling interest. The HLBV method is utilized to allocate the income or losses of Rosie TE Holdco LLC.

Yield Protection Agreement — In connection with the Lighthouse Partnership Agreements, the Company entered into an agreement which provides for a reallocation of cash distributions to the third-party investor in order to ensure that the investor achieves a target return. The agreement provides for the reallocation of up to 80% of cash distributed to the Company's Class A members beginning after the 15th year of the arrangement. The Company is accounting for this agreement as a guarantee and has recorded the fair value of its estimated liability under the arrangement of $15 million as a non-current liability with a corresponding offset to additional paid-in capital.

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 of 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 with rated capacity of 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 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. On November 12, 2019, the tax equity investor made its final tax-equity contribution of $71 million and 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 of 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.

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 commitment totaling $352 million, as further described in 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 combined proceeds from the tax equity investor and the Company. 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, a third party tax equity investor purchased 100% of the Class A membership interests in Wildorado TE Holdco, for $148 million. In addition, the Company contributed $112 million to Wildorado TE Holdco. The combined proceeds were used to repay construction debt under the Repowering Partnership Holdco credit agreement, as described in Note 10, Long-term Debt. The third party tax equity investor, or Wildorado Investor, will receive 99% of allocations of taxable income and other items until the Wildorado Investor obtains a specified return on its initial investment, or the last day of the PTC period, whichever occurs sooner. At such time, the allocations to the Wildorado Investor will change to 5%. Until such time, the Wildorado Investor will receive a variable percentage of cash distributions. Wildorado TE Holdco is a VIE and the Repowering Partnership II LLC is the primary beneficiary through its position as managing member. As a result, the Company consolidates Wildorado TE Holdco, with the Wildorado Investor's interest shown as noncontrolling interest. In connection with

the Wildorado TE Holdco closing, the allocations of income at Repowering Partnership II LLC changed to 60.14% for Wind TE Holdco LLC (the Company member) and 39.86% for CWSP Wildorado Elbow Holding LLC (the CEG member).

On May 11, 2020, the Company acquired CEG's interest in Repowering Partnership II LLC, for cash consideration of $70 million. Repowering Partnership II LLC is no longer a VIE and subsequent to the acquisition, is a wholly-owned subsidiary of the Company. Repowering Partnership II LLC continues to own interests in two VIEs, Wildorado Repowering Tax Equity Holdco LLC, or Wildorado TE Holdco, and Elbow Creek Repowering Tax Equity Holdco LLC, or Elbow Creek TE Holdco. The Company removed the related noncontrolling interest balance of $8 million and recorded the difference between the cash paid and the noncontrolling interest balance removed as a reduction to noncontrolling interests. The Company utilizes the HLBV method to determine the net income or loss allocated to tax equity noncontrolling interest.

Buckthorn Renewables, LLC — 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.

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, 2020:


(In millions)	Oahu Solar Partnership		Kawailoa Partnership		Wildorado TE Holdco		DGPV Funds(a)		Lighthouse Renewable Holdco LLC		Rosie TargetCo LLC		Langford TE Partnership LLC		Alta TE Holdco		Buckthorn Renewables, LLC		Other (b)
Other current and non-current assets	$	23	$	21	$	14	$	105	$	48	$	40	$	15	$	56	$	2	$	21
Property, plant and equipment	179		141		240		778		444		258		138		356		210		184
Intangible assets	—		—		—		2		—		—		2		225		—		1
Total assets	202		162		254		885		492		298		155		637		212		206
Current and non-current liabilities	122		111		11		77		82		118		18		44		9		33
Total liabilities	122		111		11		77		82		118		18		44		9		33
Noncontrolling interest	14		31		123		4		347		150		108		33		58		99
Net assets less noncontrolling interests	$	66	$	20	$	120	$	804	$	63	$	30	$	29	$	560	$	145	$	74

(a) DGPV Funds is comprised of DGPV Fund 2 LLC, Clearway & EFS Distributed Solar LLC, DGPV Fund 4 LLC, Golden Puma Fund LLC, Renew Solar CS4 Fund LLC and Chestnut Fund LLC

(b) Other is comprised of Crosswinds, Hardin, Elbow Creek Holdco and Spring Canyon projects

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 — The company acquired 100% of the Class A equity interests in the Utah Solar Portfolio from NRG. The 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.

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2020

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, 2020				As of December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In millions)


Liabilities:
Long-term debt, including current portion (a)	$	7,048	$	7,020	$	6,858	$	6,957

(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, 2020 and 2019:


	As of December 31, 2020				As of December 31, 2019
	Level 2		Level 3		Level 2		Level 3
	(In millions)
Long-term debt, including current portion	$	1,905	$	5,115	$	1,736	$	5,221

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, 2020		As of December 31, 2020		As of December 31, 2019		As of December 31, 2019
	Fair Value		Fair Value (a)		Fair Value (a)		Fair Value (a)
(In millions)	Level 2		Level 3		Level 2		Level 3
Derivative assets

Interest rate contracts	$	1	$	—	$	—	$	—
Other financial instruments (b)	—		29		—		—
Total assets	$	1	$	29	$	—	$	—
Derivative liabilities
Commodity contracts	$	—	$	44	$	—	$	9
Interest rate contracts	129		—		83		—
Total liabilities	$	129	$	44	$	83	$	9

(a) There were no derivative assets classified as Level 1, or Level 3 and no liabilities classified as Level 1 as of December 31, 2020 and no derivative assets classified as Level 1, Level 2 or Level 3 and no liabilities classified as Level 1 as of December 31, 2019.

(b) SREC contract acquired on November 2, 2020.

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:


	Year ended December 31,
		2020		2019
(In millions)	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
Beginning balance		$	(9)	$	—
Total losses for the period included in earnings		—		(3)
Purchases		(6)		(6)
Ending balance		$	(15)	$	(9)
Change in unrealized losses included in earnings for derivatives held as of December 31,		$	1	$	(3)

Derivative and Financial Instruments Fair Value Measurements

The Company's contracts are non-exchange-traded and valued using prices provided by external sources. For the Company’s energy contracts, management uses quoted observable forward prices. To the extent that observable forward prices are not available, the quoted prices reflect the average of the forward prices from the prior year, adjusted for inflation. As of December 31, 2020, contracts valued with prices provided by models and other valuation techniques make up 25% of derivative liabilities and 100% of other financial instruments.

The Company’s significant positions classified as Level 3 include 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 table quantifies the significant unobservable inputs used in developing the fair value of the Company's Level 3 positions as of December 31, 2020:

December 31, 2020

Fair Value

Input/Range

Assets

Liabilities

Valuation Technique

Significant Unobservable Input

Low

High

Weighted Average

(In millions)

Power Contracts

—

(44)

Discounted Cash Flow

Forward Market Price (per MWh)

8.64

42.37

17.93

Other Financial Instruments

—

Discounted Cash Flow

Forecast annual generation levels of certain DG solar facilities

80,872 MWh

131,374 MWh

126,063 MWh

The following table provides sensitivity of fair value measurements to increases/(decreases) in significant unobservable inputs as of December 31, 2020:


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)
Forecast Generation Level	Sell	Increase/(Decrease)	Higher/(Lower)

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, 2020, the non-performance reserve was a $6 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 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.

- 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

Accounting for Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2020

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.

Interest Rate Swaps

The Company enters into interest rate swap agreements in order to hedge the variability of expected future cash interest payments. As of December 31, 2020, the Company had interest rate derivative instruments on non-recourse debt extending through 2044, a portion of which were designated as cash flow hedges. Under the interest rate swap agreements, the Company pays a fixed rate and the counterparties to the agreements pay a variable interest rate.

Energy Related Commodities

As of December 31, 2020, the Company had energy-related derivative instruments extending through 2032. At December 31, 2020, these contracts were not designated as cash flow or fair value 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, 2020 and 2019:


		Total Volume
		December 31, 2020		December 31, 2019
Commodity	Units	(In millions)
Natural Gas	MMBtu	1		2
Power	MWh	(8)		(2)
Interest	Dollars	$	1,600	$	1,788

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, 2020		December 31, 2020		December 31, 2019
	(In millions)
Derivatives Designated as Cash Flow Hedges:
Interest rate contracts current	$	—	$	8	$	3
Interest rate contracts long-term	—		15		11
Total Derivatives Designated as Cash Flow Hedges	$	—	$	23	$	14
Derivatives Not Designated as Cash Flow Hedges:
Interest rate contracts current	—		25		13
Interest rate contracts long-term	1		81		56
Commodity contracts current	—		5		—
Commodity contracts long-term	—		39		9
Total Derivatives Not Designated as Cash Flow Hedges	1		150		78
Total Derivatives	$	1	$	173	$	92

(a)There were no derivative assets as of December 31, 2019.

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, 2020 and 2019, there was no outstanding collateral paid or received. 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, 2020	Gross Amounts of Recognized Assets/Liabilities		Derivative Instruments		Net Amount
Commodity contracts	(In millions)

Derivative liabilities	(44)		—		(44)
Total commodity contracts	(44)		—		(44)
Interest rate contracts
Derivative assets	$	1	$	—	$	1
Derivative liabilities	(129)		—		(129)
Total interest rate contracts	(128)		—		(128)
Total derivative instruments	$	(172)	$	—	$	(172)


	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)

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,
	2020		2019		2018
	(In millions)
Accumulated OCL beginning balance	$	(31)	$	(38)	$	(60)
Reclassified from accumulated OCL to income due to realization of previously deferred amounts	8		16		14
Mark-to-market of cash flow hedge accounting contracts	(7)		(9)		8
Accumulated OCL ending balance, net of income tax benefit of $5, $6 and $7, respectively	$	(30)	$	(31)	$	(38)
Accumulated OCL attributable to noncontrolling interests	(16)		(16)		(20)
Accumulated OCL attributable to Clearway Energy, Inc.	$	(14)	$	(15)	$	(18)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $4	$	(9)

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

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, 2020, 2019 and 2018 the impact to the consolidated statements of income was a loss of $38 million, a loss of $65 million and a gain of $15 million, respectively.

The Company has long-term power hedge derivatives, for which changes in fair value are recorded in operating income. For the years ended December 31, 2020 and 2019 the impact to the consolidated statements of income was a loss of $4 million and a loss of $9 million, respectively. There were no long-term power hedge derivatives outstanding during 2018.

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

Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible Assets

Intangible Assets — The Company's intangible assets as of December 31, 2020 and 2019 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 Langford Wind 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, 2020	PPAs		Leasehold Rights		Customer Relationships		Customer Contracts		Emission Allowances		Other		Total
(In millions)
January 1, 2020	$	1,630	$	86	$	66	$	15	$	17	$	8	$	1,822

Consolidation of DGPV Holdco Entities	23		—		—		—		—		—		23

Other	8		—		—		—		—		4		12
December 31, 2020	$	1,661	$	86	$	66	$	15	$	17	$	12	$	1,857
Less accumulated amortization	(431)		(26)		(11)		(11)		(3)		(5)		(487)
Net carrying amount	$	1,230	$	60	$	55	$	4	$	14	$	7	$	1,370


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	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

The Company recorded amortization expense of $91 million during the year ended December 31, 2020, $73 million for the year ended December 31, 2019 and $71 million for the year ended December 31, 2018. Of these amounts, $88 million for the year ended December 31, 2020 and $72 million for the year ended December 31, 2019 and $70 million for the year ended December 31, 2018, 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)

2021	$	91
2022	91
2023	88
2024	85
2025	$	84

Asset Impairments	12 Months Ended
Asset Impairments	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Asset impairments	Asset Impairments 2020 Impairment Losses During the fourth quarter of 2020 in the preparation and review of its annual budget, the Company updated its long-term estimates of operating and capital expenditures and revised its assessment of long-term merchant power prices which was primarily informed by present conditions and does not contemplate future policy changes, which could impact renewable energy power prices. As a result, the Company updated its estimated future cash flows and determined that the future cash flows for several wind projects within the Renewables segment no longer supported the recoverability of the related long-lived asset. As such, the Company recorded an impairment loss of $24 million, which primarily relates to property, plant, and equipment to reflect the assets at fair market value. The fair value of the facilities were 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. Additionally, during the fourth quarter of 2020, 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 there was a significant decrease in the estimated future cash flows for its equity method investment in San Juan Mesa, a facility in the Renewables segment located in Elida, New Mexico. The decrease in the forecasted cash flows which is primarily driven by a decline in forecasted revenue in future merchant periods, is significant enough to be considered an indication of a decline in value of the investment that is not temporary. The Company concluded there was an other-than-temporary impairment of its investment and recorded an impairment loss of $8 million to reflect the investment at fair market value. The resulting fair value is a Level 3 fair value measurement. 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 within 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.

Long-term Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-term Debt

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


	December 31, 2020		December 31, 2019		Interest rate % (a)	Letters of Credit Outstanding at December 31, 2020
	(In millions, except rates)
2020 Convertible Notes	—		45		3.250
2024 Senior Notes	—		88		5.375
2025 Senior Notes	600		600		5.750
2026 Senior Notes	350		350		5.000
2028 Senior Notes	850		600		4.750
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023 (b)	—		—		L+1.50	$	66
Project-level debt:
Alpine, due 2022(e)	—		119		L+2.00	—
Alta Wind I-V lease financing arrangements, due 2034 and 2035	800		844		5.696- 7.015	44
Alta Wind Asset Management LLC, due 2031	14		15		L+2.50	—
Alta Wind Realty Investments LLC, due 2031	25		27		7.000	—
Borrego, due 2024 and 2038	57		60		Various	4
Buckthorn Solar, due 2025	126		129		L+1.750	22
Carlsbad Holdco, due 2038	210		216		4.210	4
Carlsbad Energy Holdings LLC, due 2027	156		175		L+1.625	63
Carlsbad Energy Holdings LLC, due 2038	407		407		4.120	—
CVSR, due 2037	675		696		2.339 - 3.775	—
CVSR Holdco Notes, due 2037	176		182		4.680	13
DG-CS Master Borrower LLC, due 2040	467		—		3.510	30
Duquesne, due 2059	95		95		4.620	—
El Segundo Energy Center, due 2023	250		303		L+1.875 - L+2.500	138
Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037	327		328		various	—
Laredo Ridge, due 2028	78		84		L+2.125	10
Kawailoa Solar Portfolio LLC, due 2026	81		82		L+1.375	14
Marsh Landing, due 2023	146		206		L+2.125	27
NIMH Solar, due 2024	191		—		L+2.00	11
Oahu Solar Holdings LLC, due 2026	89		91		L+1.375	10
Repowering Partnership Holdco LLC, due 2020	—		228		L+0.85	—
Rosie Class B LLC, due 2027	80		—		L+1.75	19
Tapestry, due 2031	143		156		L+1.375	17
Utah Solar Holdings, due 2036	290		—		3.590	11
Utah Solar Portfolio, due 2022	—		254		L+1.625	—
Walnut Creek, due 2023	126		175		L+1.75	73
WCEP Holdings, LLC, due 2023	35		39		L+3.00	—
Other(c)	199		264		various	50
Subtotal project-level debt	5,243		5,175
Total debt	7,043		6,858
Less current maturities	(384)		(1,824)
Less net debt issuance costs	(79)		(78)
Add premiums (d)	5		—
Total long-term debt	$	6,585	$	4,956

(a) As of December 31, 2020, L+ equals 3 month LIBOR plus x%, except Rosie Class B, due 2027 where L+ equals 1 month LIBOR plus x%

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

(c) December 31, 2019 includes Blythe and Roadrunner debt outstanding of $14 million and $28 million, respectively which were transferred to NIMH in the third quarter of 2020, as described below

(d) Premiums relate to the 2028 Senior 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, 2020, the Company was in compliance with all of the required principal, interest, sinking fund and redemption covenants.

Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility

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.

As of December 31, 2020, the Company had no outstanding borrowings under the revolving credit facility and $66 million in letters of credit outstanding. During the year ended December 31, 2020, the Company borrowed $265 million under the revolving credit facility, and subsequently repaid $265 million utilizing the proceeds from the issuance of additional 2028 Senior Notes, as described below, and cash on hand. The Company had $195 million outstanding under the revolving credit facility and a total of $70 million in letters of credit outstanding as of February 26, 2021.

2028 Senior Notes

On May 21, 2020, the Company completed the issuance of an additional $250 million in aggregate principal amount of its 4.750% Senior Notes due 2028. 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 notes were issued at a price of 102% of par plus accrued interest from December 11, 2019. The net proceeds were utilized to repay the $45 million outstanding principal amount of the Company's 2020 Convertible Notes on June 1, 2020, as well as to repay amounts outstanding under the Company’s revolving credit facility and for general corporate purposes.

On December 11, 2019, the Company completed the sale of $600 million aggregate principal amount of the Senior Notes due 2028. The proceeds from the 2028 Senior Notes were partially used to repay the 2024 Senior Notes, as further described below.

2020 Convertible Notes

The 2020 Convertible Notes matured on June 1, 2020 and the Company repaid the outstanding principal amount of $45 million. The repayment was funded by the issuance of the 2028 Senior Notes.

2024 Senior Notes Redemption

On January 3, 2020, the Company redeemed the $88 million aggregate principal amount of the 2024 Senior Notes that remained outstanding following the Company's tender offer for the 2024 Senior Notes in December 2019. The redemption was effectuated at a premium of 102.7% for a total consideration of $90 million and as a result, the Company recorded a loss on debt extinguishment in the amount of $3 million, which also included the write off of previously deferred financing fees related to the 2024 Senior Notes.

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.

2019 Convertible Notes

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. In January 2019, the Company repurchased an aggregate principal amount of $50 million of the 2019 Convertible Notes in open market transactions. The Company repurchased an aggregate principal amount of $125 million of the 2019 Convertible Notes during 2018.

Project level Debt

PG&E Bankruptcy

On July 1, 2020, PG&E emerged from bankruptcy and assumed the Company's contracts without modification. In addition, PG&E paid to the Company's applicable projects the portion of the invoices corresponding to the electricity delivered

between January 1 and January 28, 2019. These invoices related to the pre-petition period services and any payment therefore required the approval of the Bankruptcy Court. Subsequent to PG&E's emergence from bankruptcy, the Company entered into waiver agreements with the lenders to the respective financing agreements related to the PG&E Bankruptcy.

Rosamond Central (Rosie Class B LLC)

On December 21, 2020 as part of the acquisition of Rosie TargetCo LLC, as further descried in Note 3, Acquisitions and Dispositions, the Company assumed the Amended and Restated Financing Agreement, which provided for a construction loan of up to $91 million, a cash equity bridge loan of up to $24 million and an investment tax credit loan of up to $132 million.

On December 31, 2020, Rosie Class B, LLC converted the construction loan to a $80 million term loan and repaid the investment tax credit loan of $130 million, utilizing tax equity funding. The term loan bears annual interest at a rate of LIBOR plus an applicable margin, which is 1.75% per annum through the third anniversary of the term conversion, and 2.00% per annum thereafter through the maturity date of December 31, 2027. In addition, Rosie Class B LLC is party to several letter of credit facility agreements, not to exceed $23 million. As of December 31, 2020, a total of $19 million in letters of credit were outstanding.

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 consisted 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.

Consolidation of DGPV Holdco 3

Upon consolidation of DGPV Holdco 3, as described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities, the Company consolidates additional non-recourse debt for certain subsidiaries as further described below.

Renew CS4 Borrower LLC, or CS4 Borrower, a consolidated subsidiary of DGPV Holdco 3, is party to a credit agreement for construction loans up to $97 million, an investment tax credit bridge loan, or ITC bridge loan, for up to $90 million and letter of credit facilities up to $5 million. The construction loan and the ITC bridge loan both have an interest rate of LIBOR plus an applicable margin of 2.00% per annum. As of June 30, 2020, all construction loans were converted to term loans and the ITC bridge loans were repaid in connection with tax equity funding. The term loan was repaid on November 2, 2020 with the proceeds of the term loan issued by DG-CS Master Borrower LLC, as described below.

Chestnut Borrower LLC, a consolidated subsidiary of DGPV Holdco 3, is party to a credit agreement for term loans of up to $120 million and letters of credit of up to $8 million. The loans were repaid on November 2, 2020 with the proceeds of the term loan issued by DG-CS Master Borrower LLC, as described below

DG-CS Master Borrower LLC

On November 2, 2020, DG-CS Master Borrower LLC, a wholly owned subsidiary of Clearway Energy Operating LLC, entered into a financing arrangement, which included the issuance of a $467 million term loan, as well as $30 million in letters of credit in support of debt service. The term loan bears interest at 3.51% and mature on September 30, 2040. The proceeds from the loan were utilized to repay existing project-level debt outstanding for Chestnut Borrower LLC, Renew Solar CS 4 Borrower LLC, DGPV 4 Borrower LLC and Puma Class B LLC of $107 million, $102 million, $92 million and $73 million, respectively and unwind related interest rate swaps in the amount of $42 million. The remaining proceeds were utilized to pay related fees and expenses and in part to acquire the Class B membership interests in the DGPV Holdco Entities and an SREC contract from CEG as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities. Concurrent with the refinancing, the projects were transferred under DG-CS Master Borrower LLC and the obligations under the financing arrangement are supported by the Company's interest in the projects.

Utah Solar Holdings, LLC

On September 1, 2020, Utah Solar Holdings, LLC, or Utah Solar, entered into a financing arrangement, which included the issuance of approximately $296 million in senior secured notes supported by the Company’s interest in the Utah projects (Four Brothers, Granite Mountain and Iron Springs, previously defined as the Utah Solar Portfolio), as well as $16 million in letters of credit in support of debt service obligations. The notes bear interest at 3.59% per annum and mature on December 31, 2036. The proceeds from the issuance were utilized to repay existing debt outstanding of approximately $247 million for the Utah projects and to unwind the related interest rate swaps in the amount of $33 million. The remaining proceeds were utilized to pay related fees and expenses, with the remaining $9 million distributed to Clearway Energy Operating LLC.

NIMH Solar LLC

On September 30, 2020, the Alpine, Blythe and Roadrunner projects were transferred under NIMH Solar LLC, a wholly owned subsidiary of Clearway Energy Operating LLC. Concurrently, total project-level debt outstanding for Alpine, Blythe and Roadrunner of $158 million was assigned to NIMH Solar LLC. The consolidated facility was amended to a term loan for $193 million, as well as $16 million in letters of credit in support of debt service and project obligations. The term loan bears annual interest rate of LIBOR, plus an applicable margin, which is 2.00% per annum through the third anniversary of closing, and 2.125% per annum thereafter through the maturity date in September 2024. As a result of the amendment the Company received $35 million which was utilized to pay related fees and expenses and along with existing project level cash, provided a distribution to Clearway Energy Operating LLC of $45 million. The obligations under the financing arrangement are supported by the Company’s interests in the projects.

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%.

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.

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.

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 of $67 million upon the project reaching substantial completion. Interest on the term loan is payable quarterly in arrears.

Kawailoa Solar Portfolio 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 Portfolio, 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 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 an 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%.

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 a fixed rate 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, 2020:


	% of Principal		Fixed Interest Rate		Floating Interest Rate	Notional Amount at December 31, 2020 (In millions)		Effective Date	Maturity Date
Avra Valley	87	%	2.33	%	3-Month LIBOR	38		November 30, 2012	November 30, 2030
Alta Wind Asset Management	100	%	2.47	%	3-Month LIBOR	14		May 22, 2013	May 15, 2031
Borrego	100	%	0.476	%	3-Month LIBOR	13		June 30, 2020	December 31, 2024
Buckthorn Solar	82	%	Various		3-Month LIBOR	103		February 28, 2018	December 31, 2041
Carlsbad	100	%	Various		3-Month LIBOR	156		Various	September 30, 2027
El Segundo	100	%	Various		3-Month LIBOR	250		Various	Various
Kansas South	75	%	2.368	%	6-Month LIBOR	17		June 28, 2013	December 31, 2030
Kawailoa Solar	94	%	Various		3-Month LIBOR	76		November 30, 2019	October 31, 2040
Laredo Ridge	100	%	Various		3-Month LIBOR	78		December 17, 2014	December 31, 2028
Marsh Landing	100	%	Various		3-Month LIBOR	146		June 28, 2013	June 30, 2023
NIMH Solar LLC	100	%	Various		3-Month LIBOR	191		September 30, 2020	Various
Oahu Solar	96	%	Various		3-Month LIBOR	86		November 30, 2019	October 31, 2040
Rosie Class B	95	%	1.446	%	3-Month LIBOR	76		December 31, 2020	July 29, 2044
South Trent	90	%	3.847	%	3-Month LIBOR	35		June 14, 2019	June 30, 2028
Tapestry	75	%	Various		3-Month LIBOR	107		Various	Various
Tapestry	50	%	3.57	%	3-Month LIBOR	12		December 21, 2021	December 21, 2029
Viento Funding II	100	%	3.03	%	6-Month LIBOR	33		Various	Various
Viento Funding II	100	%	4.985	%	6-Month LIBOR	21		July 11, 2023	June 30, 2028
Walnut Creek Energy	90	%	3.543	%	3-Month LIBOR	114		June 28, 2013	May 31, 2023
WCEP Holdings	100	%	4.003	%	3-Month LIBOR	34		June 28, 2013	May 31, 2023
Total						$	1,600

Annual Maturities

Annual payments based on the maturities of the Company's debt, for the years ending after December 31, 2020, are as follows:


	(In millions)
2021	$	384
2022	407
2023	431
2024	359
2025	934
Thereafter	4,528
Total	$	7,043

Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2020

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,
	2020				2019				2018
(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 income (loss) attributable to Clearway Energy, Inc.	$	7	$	18	$	(4)	$	(7)	$	16	$	32
Weighted average number of common shares outstanding — basic	35		80		35		74		35		69
Weighted average number of common shares outstanding — diluted	35		81		35		74		35		69
Earnings (loss) per weighted average common share — basic and diluted	$	0.22	$	0.22	$	(0.10)	$	(0.10)	$	0.46	$	0.46

(a) Net income (loss) attributable to Clearway Energy, Inc. and basic and diluted earnings (loss) 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,
	2020	2019	2018
	(In millions of shares)
2019 Convertible Notes - Common Class A	—	—	9
2020 Convertible Notes - Common Class C	—	2	8

Stockholders' Equity

12 Months Ended

Dec. 31, 2020

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.

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 Programs

On August 6, 2020, Clearway Energy, Inc. entered into an equity distribution agreement with Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and UBS Securities 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 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 2020 ATM Program.

On August 9, 2016, Clearway Energy, Inc. entered into an equity distribution agreement, or EDA, 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., offered and sold shares of its Class C common stock 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 2016 ATM Program. As of June 30, 2020, the Company had completed the issuance of shares of Class C common stock totaling $150 million in gross proceeds under the 2016 ATM Program.

The following table summarizes Class C common stock shares sold under the ATM Programs during the year end December 31, 2020 :


	Number of shares sold	Gross Proceeds from the sale of shares(a) (in millions)
2020 ATM Program	940,790	$	24
2016 ATM Program	1,749,665	39
Total Class C common stock sold during the year ended December 31, 2020	2,690,455	$	63

(a) The Company incurred commission fees of $0.6 million during the year ended December 31, 2020.

As of December 31, 2020, approximately $126 million of Class C common stock remains available for issuance under the 2020 ATM Program.

The Company utilized the proceeds of the sales under the ATM Programs to acquire 2,690,455 Class C units of Clearway Energy LLC and, as a result, as of December 31, 2020 the Company owned 57.61% of the economic interests of Clearway Energy LLC, with CEG retaining 42.39% of the economic interests of Clearway Energy LLC.

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, 2020:


	Fourth Quarter 2020		Third Quarter 2020		Second Quarter 2020		First Quarter 2020
Dividends per Class A share	$	0.3180	$	0.3125	$	0.2100	$	0.2100
Dividends per Class C share	$	0.3180	$	0.3125	$	0.2100	$	0.2100

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.

On February 12, 2021, the Company declared a quarterly dividend on its Class A and Class C common stock of $0.324 per share payable on March 15, 2021, to stockholders of record as of March 1, 2021.

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

The following table lists the distributions paid to CEG during the year ended December 31, 2020 on Clearway Energy LLC's Class B and D units:


	Fourth Quarter 2020		Third Quarter 2020		Second Quarter 2020		First Quarter 2020
Distributions per Class B unit	$	0.3180	$	0.3125	$	0.2100	$	0.2100
Distributions per Class D unit	$	0.3180	$	0.3125	$	0.2100	$	0.2100

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 12, 2021, Clearway Energy LLC declared a quarterly distribution on its Class B and Class D units of $0.324 per unit payable to CEG on March 15, 2021.

Segment Reporting

12 Months Ended

Dec. 31, 2020

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, 2020, 2019 and 2018:


	2020		2019		2018
Customer	Conventional	Renewables	Conventional	Renewables	Conventional	Renewables
SCE	18%	16%	21%	19%	20%	20%
PG&E	10%	8%	12%	10%	12%	11%


	Year ended December 31, 2020
(In millions)	Conventional Generation		Renewables		Thermal		Corporate (a)		Total
Operating revenues	$	437	$	569	$	193	$	—	$	1,199
Cost of operations	90		147		131		(2)		366
Depreciation, amortization and accretion	132		264		32		—		428
Impairment losses	—		24		—		—		24
General and administrative	—		—		3		31		34
Transaction and integration costs	—		—		—		9		9
Development costs	—		—		5		—		5
Operating income (loss)	215		134		22		(38)		333
Equity in earnings (losses) of unconsolidated affiliates	8		(1)		—		—		7
Impairment loss on investment	—		(8)		—		—		(8)
Gain on sale of unconsolidated affiliates	—		—		—		49		49
Other income, net	1		3		—		—		4
Loss on debt extinguishment	—		(21)		—		(3)		(24)
Interest expense, net	(84)		(216)		(19)		(96)		(415)
Income (loss) before income taxes	140		(109)		3		(88)		(54)
Income tax benefit	—		—		—		8		8
Net Income (Loss)	140		(109)		3		(96)		(62)

Net Income (Loss) Attributable to Clearway Energy, Inc.	$	140	$	3	$	3	$	(121)	$	25
Balance Sheet
Equity investment in affiliates	$	90	$	651	$	—	$	—	$	741
Capital expenditures (b)	12		44		50		—		106
Total Assets	$	2,575	$	7,157	$	627	$	233	$	10,592

(a) Includes eliminations

(b) Includes accruals


	Year ended December 31, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Corporate		Total
Operating revenues	$	346	$	485	$	201	$	—	$	1,032
Cost of operations	60		143		134		—		337
Depreciation, amortization and accretion	103		271		27		—		401
Impairment losses	—		14		19		—		33
General and administrative	—		1		3		25		29
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 investments 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	61		139		127		—		327
Depreciation, amortization and accretion	102		211		23		—		336

General and administrative	—		—		1		19		20
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

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Effective Tax Rate

The income tax provision consisted of the following amounts:


	Year Ended December 31,
	2020		2019		2018
	(In millions)




Deferred
U.S. Federal	$	7	$	(4)	$	28
State	1		(4)		34
Total — deferred	8		(8)		62
Total income tax expense (benefit)	$	8	$	(8)	$	62

A reconciliation of the U.S. federal statutory rate of 21% to the Company's effective rate is as follows:


	Year Ended December 31,
	2020			2019			2018
	(In millions, except percentages)
Income Before Income Taxes	$	(54)		$	(104)		$	116
Tax at 21%	(11)			(22)			24
State taxes, net of federal benefit	(4)			(7)			8
Deferred state rate change due to deconsolidation from NRG	—			—			20

Impact of non-taxable equity earnings	24			24			8
Investment tax credits	—			(1)			(3)
Production tax credits, including prior year true-up	(1)			(1)			(1)
Valuation allowance adjustment	—			—			3
Rate Change	2			—			—
Other	(2)			(1)			3
Income tax expense (benefit)	$	8		$	(8)		$	62
Effective income tax rate	(14.8)		%	7.7		%	53.4		%

For the year ended December 31, 2020, 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, 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 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 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,
	2020		2019
	(In millions)
Deferred tax liabilities:
Investment in projects	$	226	$	227
Total deferred tax liabilities	226		227
Deferred tax assets:


Interest expense disallowance carryforward - Investment in Projects	11		50
Production tax credits	9		9
Investment tax credits	5		5
U.S. Federal net operating loss carryforwards	260		215
Capital loss carryforwards	12		12
State net operating loss carryforwards	48		43
Total deferred tax assets	345		334
Valuation allowance	(15)		(15)
Total deferred tax assets, net of valuation allowance	330		319
Net deferred noncurrent tax asset	$	104	$	92

The primary driver for the increase in the net deferred tax asset from $92 million to $104 million as of December 31, 2020, is the increase in federal and state NOLs, partially offset by utilization of the interest disallowance carryforward. 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 adjustments to the consolidated statements of stockholders’ equity for the year ended December 31, 2019.

Tax Receivable and Payable

As of December 31, 2020, 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, 2020 and 2019, the Company recorded a net deferred tax asset of $104 million and $92 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, 2020, the Company had domestic NOLs carryforwards for federal income tax purposes of $260 million and cumulative state NOLs of $48 million tax-effected.

Interest disallowance carryforward — As of December 31, 2020, the Company has a deferred tax asset of $11 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.

Uncertain Tax Positions

The Company had no identified uncertain tax positions that require evaluation as of December 31, 2020.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2020
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 - affiliates and amounts due to the Company from CEG subsidiaries are recorded as accounts receivable - affiliates 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 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, 2020 and 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, 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 $37 million and $31 million for the year ended December 31, 2020 and 2019, respectively. The Company incurred total expenses of $11 million for the period from September 1, 2018 to December 31, 2018. There was a balance of $10 million and $7 million due to RENOM as of December 31, 2020 and 2019, 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 and Clearway 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 $10 million and $7 million for the year ended December 31, 2020 and 2019, respectively. The Company incurred expenses under these agreements of $3 million for the period from September 1, 2018 to December 31, 2018. There was a balance of $2 million and $1 million due to CEG as of December 31, 2020 and 2019, respectively. CEG Master Services Agreements The Company is a party to Master Services Agreements with CEG, or MSAs, pursuant to which CEG and certain of its affiliates or third party service providers provide 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 provides certain services to CEG, including accounting, internal audit, tax and treasury services, in exchange for the payment of fees in respect of such services. The Company incurred net expenses of $2 million and $1 million under these agreements for the year ended December 31, 2020 and 2019, respectively. 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. 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. 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. 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, were parties to Energy Marketing Services Agreements with NRG Power Marketing, a wholly-owned subsidiary of NRG. Under the agreements, NRG Power Marketing procured 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. 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. 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. 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. 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. 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. Costs incurred under this agreement were $7 million for the eight months ended August 31, 2018. On August 31, 2018, in connection with the consummation of the GIP Transaction, the Clearway Energy, Inc. 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, or the NRG TSA, as further described below. Subsequent to the GIP Transaction, the Company entered into 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 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.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

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, 2020, 2019 and 2018, the Company purchased $32 million, $38 million, and $39 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.

As of December 31, 2020, the Company's commitments under such outstanding agreements are estimated as follows:


Period	(In millions)
2021	$	9
2022	3
2023	2
2024	—
2025	—
Thereafter	—
Total	$	14

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. On April 13, 2020, the U.S. District Court granted the wind projects' motion for summary judgment and permanently enjoined NPPD from terminating the PPAs in reliance on the alleged events of default. The U.S. District Court decision was appealed by NPPD on May 11, 2020 and the case in the Knox County District Court remains pending, but has been stayed pending the outcome of the U.S. District Court case. Argument before the U.S. Court of Appeals for the Eight Circuit is scheduled for March 18, 2021. 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

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

Accounting for Leases

The Company evaluates each arrangement at inception to determine if it contains a lease. Substantially all of the Company’s leases are operating leases.

Lessee

The Company records its operating lease liabilities at the present value of the lease payments over the lease term at lease commencement date. 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, 2020 and December 31, 2019 was comprised of the following:


(In millions)	December 31, 2020		December 31, 2019
Operating lease cost - Fixed	$	19	$	13

Operating lease cost - Variable	9		8
Total lease cost	$	28	$	21

Operating lease information as of December 31, 2020 and 2019 was as follows:


(In millions, except term and rate)	December 31, 2020			December 31, 2019
ROU Assets - operating leases, net (a)	$	337		$	223

Short-term lease liability - operating leases (b)	$	8		$	7
Long-term lease liability - operating leases (a)	345			227
Total lease liability	$	353		$	234

Weighted average remaining lease term (in years)	25			25
Weighted average discount rate	4.3		%	4.4		%

Cash paid for operating leases	$	19		$	15

(a) Increase in ROU Assets and lease liabilities is primarily due to the acquisition of Drop Down Assets, as further described in Note 3, Acquisitions and Dispositions

(b) 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, 2020 and December 31, 2019

Maturities of operating lease liabilities as of December 31, 2020 are as follows:


(In millions)
2021	$	23
2022	23
2023	23
2024	23
2025	23
Thereafter	476
Total lease payments	591
Less imputed interest	(238)
Total lease liability - operating leases	$	353

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 $20 million and $21 million as of December 31, 2020 and 2019 and corresponding right-of-use asset of $18 million and $19 million related to the leases as of December 31, 2020 and 2019.

Rosamond Lease Agreement

The Rosamond Central project is party to a land lease agreement with a wholly owned subsidiary of CEG. The project is 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 $12 million as of December 31, 2020 and corresponding right-of-use asset of $11 million related to the lease as of December 31, 2020.

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 but one of the Company’s leases are operating leases. The remaining lease met the criteria of a sales-type lease and the impact of this sales-type lease to the consolidated financial statements was immaterial. 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 operating leases.



	Conventional Generation		Renewables		Thermal		Total
December 31, 2020	(In millions)
Energy revenue	$	10	$	554	$	2	$	566
Capacity revenue	451		—		—		451
Operating revenue	$	461	$	554	$	2	$	1,017



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

Minimum future rent payments for the remaining periods related to the Conventional segment operating leases were as follows as of December 31, 2020:


(In millions)
2021	$	444
2022	450
2023	259
2024	106
2025	107
Thereafter	1,498
Total lease payments	$	2,864

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


(In millions)	December 31, 2020		December 31, 2019
Property, plant and equipment	$	7,201	$	6,942
Accumulated depreciation	(1,964)		(1,649)
Net property, plant and equipment	$	5,237	$	5,293

Energy Center Caguas Sales-Type Lease Agreement

On November 1, 2018, the Company, through its indirect subsidiary Energy Center Caguas LLC, entered into an Energy Services Agreement (ESA) for its Viatris (formerly Mylan) facility in Puerto Rico. The ESA was determined to be a sales-type lease, as the present value of the lease payments is greater than substantially all of the fair value of the facility. As a result, upon the service commencement date of the contract, the Company recorded a lease receivable of approximately $12 million which represents the net present value of the lease investment. The Company is permitted to receive approximately $1 million per year in fixed payments under the ESA, which expires in September 2032 based upon a service commencement date in September 2020, with options to extend the term for two additional five year periods upon mutual agreement of the parties.

Minimum future rent payments for the remaining periods related to the Thermal segment sales-type lease were as follows as of December 31, 2020:


(In millions)
2021	$	1
2022	1
2023	1
2024	1
2025	1
Thereafter	9
Total sales-type lease payments	$	14

Leases

Accounting for Leases

The Company evaluates each arrangement at inception to determine if it contains a lease. Substantially all of the Company’s leases are operating leases.

Lessee

Lease expense for the year ended December 31, 2020 and December 31, 2019 was comprised of the following:


(In millions)	December 31, 2020		December 31, 2019
Operating lease cost - Fixed	$	19	$	13

Operating lease cost - Variable	9		8
Total lease cost	$	28	$	21

Operating lease information as of December 31, 2020 and 2019 was as follows:


(In millions, except term and rate)	December 31, 2020			December 31, 2019
ROU Assets - operating leases, net (a)	$	337		$	223

Short-term lease liability - operating leases (b)	$	8		$	7
Long-term lease liability - operating leases (a)	345			227
Total lease liability	$	353		$	234

Weighted average remaining lease term (in years)	25			25
Weighted average discount rate	4.3		%	4.4		%

Cash paid for operating leases	$	19		$	15

(a) Increase in ROU Assets and lease liabilities is primarily due to the acquisition of Drop Down Assets, as further described in Note 3, Acquisitions and Dispositions

Maturities of operating lease liabilities as of December 31, 2020 are as follows:


(In millions)
2021	$	23
2022	23
2023	23
2024	23
2025	23
Thereafter	476
Total lease payments	591
Less imputed interest	(238)
Total lease liability - operating leases	$	353

Oahu Solar Lease Agreements

Rosamond Lease Agreement

Lessor

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



	Conventional Generation		Renewables		Thermal		Total
December 31, 2020	(In millions)
Energy revenue	$	10	$	554	$	2	$	566
Capacity revenue	451		—		—		451
Operating revenue	$	461	$	554	$	2	$	1,017



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

Minimum future rent payments for the remaining periods related to the Conventional segment operating leases were as follows as of December 31, 2020:


(In millions)
2021	$	444
2022	450
2023	259
2024	106
2025	107
Thereafter	1,498
Total lease payments	$	2,864

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


(In millions)	December 31, 2020		December 31, 2019
Property, plant and equipment	$	7,201	$	6,942
Accumulated depreciation	(1,964)		(1,649)
Net property, plant and equipment	$	5,237	$	5,293

Energy Center Caguas Sales-Type Lease Agreement

Minimum future rent payments for the remaining periods related to the Thermal segment sales-type lease were as follows as of December 31, 2020:


(In millions)
2021	$	1
2022	1
2023	1
2024	1
2025	1
Thereafter	9
Total sales-type lease payments	$	14

Unaudited Quarterly Data

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Data

Below is summarized unaudited quarterly financial data for the periods ending December 31, 2020 and 2019.


	Quarter Ended
	December 31,		September 30,		June 30,		March 31,
	2020
	(In millions, except per share data)
Operating Revenues	$	280	$	332	$	329	$	258




Operating Income	28		123		130		52




Net (Loss) Income	(73)		42		76		(107)




Net (Loss) Income Attributable to Clearway Energy, Inc.	$	(25)	$	32	$	47	$	(29)
Weighted average number of Class A common shares outstanding — basic and diluted	35		35		35		35

Weighted average number of Class C common shares outstanding — basic and diluted	81		81		80		79

(Loss) Earnings per Weighted Average Common Share Basic and Diluted	$	(0.20)	$	0.27	$	0.41	$	(0.26)


	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) Income 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)

Schedule I - Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2020

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)	2020		2019		2018
Total operating costs and expenses	$	2	$	2	$	1
Equity in (losses) earnings of consolidated subsidiaries	(52)		(101)		135
Loss on debt extinguishment	—		—		(7)
Interest expense	—		(1)		(11)
Total other (expense) income, net	(52)		(102)		117
(Loss) Income Before Income Taxes	(54)		(104)		116
Income tax expense (benefit)	8		(8)		62
Net (Loss) Income	(62)		(96)		54
Less: Pre-acquisition net income of Drop Down Assets	—		—		4
Less: Net (loss) income attributable to noncontrolling interests	(87)		(85)		2
Net Income (Loss) Attributable to Clearway Energy, Inc.	$	25	$	(11)	$	48

Clearway Energy, Inc. (Parent)

Condensed Balance Sheets


	December 31,		December 31,
	2020		2019
ASSETS	(In millions)

Current Assets
Cash and cash equivalents	$	—	$	3
Accounts receivable — affiliates	3		2
Note receivable - Clearway Energy Operating LLC	1		44

Other Assets
Investment in consolidated subsidiaries	2,612		2,173


Deferred income taxes	104		92
Total Assets	$	2,720	$	2,314
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Current portion of long-term debt	—		44

Other current liabilities	—		1
Other Liabilities

Other non-current liabilities	5		6
Total Liabilities	5		51

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); 201,635,990 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 81,558,845 Class D 42,738,750) at December 31, 2020 and 1,198,819,999 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	1		1
Additional paid-in capital	1,922		1,936
Accumulated deficit	(84)		(72)
Accumulated other comprehensive loss	(14)		(15)
Noncontrolling interest	890		413
Total Stockholders' Equity	2,715		2,263
Total Liabilities and Stockholders' Equity	$	2,720	$	2,314

Clearway Energy, Inc. (Parent)

Condensed Statements of Cash Flows


	Years ended December 31,
	2020		2019		2018
	(In millions)

Net Cash (Used in) Provided by Operating Activities	$	(3)	$	(5)	$	3
Cash Flows from Investing Activities
Investments in consolidated affiliates	(59)		(87)		(150)
Cash advances for notes receivable - affiliate	(3)		—		—
Cash received from notes receivable - affiliate	45		215		359
Net Cash Provided by (Used in) Investing Activities	(17)		128		209
Cash Flows from Financing Activities

Payments for long-term debt	(45)		(220)		(367)
Proceeds from the issuance of common stock	62		100		153

Cash received from Clearway Energy LLC for the payment of dividends	121		87		130
Payment of dividends	(121)		(87)		(130)
Net Cash (Used in) Provided by Financing Activities	17		(120)		(214)
Net (Decrease) Increase in Cash and Cash Equivalents	(3)		3		(2)
Cash and Cash Equivalents at Beginning of Period	3		—		2
Cash and Cash Equivalents at End of Period	$	—	$	3	$	—

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 is one of the largest renewable energy owners in the U.S. with over 4,200 net MW of installed wind and solar generation projects. The Company also owns approximately 2,500 net MW of environmentally-sound, highly efficient generation facilities as well as a portfolio of district energy systems. Through this environmentally-sound, diversified and primarily contracted portfolio, the Company endeavors to provide its investors with stable and growing dividend income. Substantially all of the Company's generation assets are under long-term contractual arrangements for the output or capacity from these assets.

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 under the ATM Programs during the twelve months ended December 31, 2020, the Company owns 57.61% of the economic interests of Clearway Energy LLC, with CEG retaining 42.39% of the economic interests of Clearway Energy LLC as of December 31, 2020.

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

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.

Note 4 — DividendsCash distributions paid to Clearway Energy, Inc. by its subsidiary, Clearway Energy LLC, were $121 million, $87 million, and $130 million for the years ended December 31, 2020, 2019, and 2018, respectively.

Schedule II VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2020

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, 2020, 2019, and 2018


	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, 2020	$	15	$	—	$	—	$	15
Year Ended December 31, 2019	15		—		—		15
Year Ended December 31, 2018	10		5		—		15

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2020
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 CashCash 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, 2020, these restricted funds comprised of $73 million designated to fund operating expenses, approximately $24 million designated for current debt service payments, and $45 million restricted for reserves including debt service, performance obligations and other reserves, as well as capital expenditures. The remaining $55 million is held in distributions reserve accounts.
Trade Receivables and Allowance for Doubtful Accounts	Accounts Receivable — Trade and Allowance for Doubtful AccountsAccounts 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.
Inventory	InventoryInventory 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 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	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 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 CostsDebt 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.
Intangible Assets	Intangible AssetsIntangible assets represent contractual rights held by the Company. The Company recognizes specifically identifiable intangible assets including power purchase agreements, leasehold rights, 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.
Revenue Recognition	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, 2020, 2019 and 2018 was $589 million, $537 million and $583 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	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	Concentrations of Credit RiskFinancial 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 industries. 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 Company's Business, for a discussion on the Company’s dependence on major customers.
Fair Value of Financial Instruments	Fair Value of Financial InstrumentsThe 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.
Asset Retirement Obligations	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	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	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	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	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.
Income Taxes	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 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, 2018, 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	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 annual periods presented as if the combination has been in effect from the beginning of the earliest financial statement period presented or from the date the entities were under common control (if later than the beginning of the earliest 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	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	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	Reclassification Certain prior year amounts have been reclassified for comparative purposes.
Recent Accounting Developments	Recently Adopted Accounting Standards In March 2020, the FASB issued ASU No. 2020-4, Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments provide for optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria is met. These amendments apply only to contracts that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022. The Company intends to apply the amendments to all its eligible contract modifications where applicable during the reference rate reform period. As of December 31, 2020, the Company has not elected any optional expedients provided in the standard. Effective January 1, 2019, the Company adopted ASU No. 2016-02, Leases (Topic 842), or Topic 842 using the modified retrospective transition method. The Company elected available practical expedients permitted under the transition guidance within the new standard, which among other items, allowed the Company to carry forward its historical lease classification and not reassess existing leases under the new definition of a lease in ASC 842. In addition, the Company also elected to account for lease and non-lease components 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. Recently Issued Accounting Standards Not Yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this ASU simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The guidance is effective January 1, 2021, with early adoption permitted. The Company does not expect the effect of the new guidance to be material on its consolidated financial statements.

Nature of Business (Tables)	12 Months Ended
Nature of Business (Tables)	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company organization chart	The following table represents the structure of the Company as of December 31, 2020:

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

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


	Year ended December 31,
	2020		2019
	(In millions)
Cash and cash equivalents	$	268	$	155
Restricted cash	197		262
Cash, cash equivalents and restricted cash shown in the statements of cash flows	$	465	$	417

Disaggregation of revenue

The following tables represent the Company’s disaggregation of revenue from contracts with customers for the year ended December 31, 2020, along with the reportable segment for each category:


	Year ended December 31, 2020
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue(a)	$	10	$	609	$	101	$	720
Capacity revenue(a)	451		—		63		514
Other revenues	—		21		32		53
Contract amortization	(24)		(61)		(3)		(88)

Total operating revenue	437		569		193		1,199
Less: Lease revenue	(461)		(554)		(2)		(1,017)
Less: Contract amortization	24		61		3		88
Total revenue from contracts with customers	$	—	$	76	$	194	$	270

(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, 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 840

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

Contract balances

The following table reflects the net amount of contract assets and liabilities included on the Company’s balance sheet as of December 31, 2020:


(In millions)	December 31, 2020		December 31, 2019
Accounts receivable, net - Contracts with customers	$	57	$	34
Accounts receivable, net - Leases	86		82
Total accounts receivable, net	$	143	$	116

Schedule of asset retirement obligations


(In millions)
Balance as of December 31, 2019	$	75
Revisions in estimates for current obligations	9
Additions	26

Accretion — expense	7
Balance as of December 31, 2020	$	117

Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2020

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 November 20, 2020:


(In millions)	Langford
Current Assets	$	4
Property, plant and equipment, net	138
Other non-current assets	15
Total assets	157

Other current and non-current liabilities	17
Total liabilities	17
Noncontrolling interests	119
Net assets less noncontrolling interests	$	21

The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 21, 2020:


(In millions)	Rosamond Central
Current Assets	$	49
Property, plant and equipment, net	246

Other non-current assets	1
Total assets	296

Long-term debt	205
Other current and non-current liabilities	11
Total liabilities	216
Noncontrolling interests	52
Net assets less noncontrolling interests	$	28

The following table shows the balances that were consolidated effective on December 21, 2020:


(In millions)	Mesquite Star
Current assets	$	22
Property, plant and equipment, net	443
Other non-current assets	31
Total assets	496

Other current and non-current liabilities	87
Total liabilities	87
Noncontrolling interests and redeemable noncontrolling interests	346
Net assets less noncontrolling interests	$	63

The following table shows the balances that were consolidated:


	November 2, 2020		May 29, 2020
(In millions)	DGPV Holdco 1 and 2 (a)		DGPV Holdco 3 (b)
Current assets	$	29	$	32
Property, plant and equipment, net	324		331
Intangible assets, net	19		1
Other non-current assets	52		37
Total assets	424		401

Long-term debt	160		206
Other current and non-current liabilities	54		84
Total liabilities	214		290
Noncontrolling interests and redeemable noncontrolling interests	5		6
Net assets less noncontrolling interests	$	205	$	105

(a) Includes DGPV 1, LLC, DGPV 2, LLC, CA Fund, LLC, DGPV 4 Borrower LLC and Puma Class B LLC

(b) Includes Renew Solar CS4 Fund LLC and Chestnut Fund LLC

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


(In millions)	CBAD Holdings, LLC
Current Assets	$	36
Property, plant and equipment, net	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.

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020		December 31, 2019		Depreciable Lives
	(In millions)
Facilities and equipment	$	9,254	$	7,676	2 - 45 Years
Land and improvements	224		173
Construction in progress (a)	62		94
Total property, plant and equipment	9,540		7,943
Accumulated depreciation	(2,323)		(1,880)
Net property, plant and equipment	$	7,217	$	6,063

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

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Equity method investments

The Company's maximum exposure to loss as of December 31, 2020 is limited to its equity investment in the unconsolidated entities, as further summarized in the table below:


Name	Economic Interest	Investment Balance
		(In millions)
Utah Solar Portfolio (a)	50%	$	255
Desert Sunlight	25%	244
Agua Caliente Solar(b)	16%	83
GenConn(c)	50%	90
San Juan Mesa	75%	33
Elkhorn Ridge	66.7%	38
Avenal	50%	(2)
		$	741

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


	Year Ended December 31,
	2020		2019		2018
Income Statement Data:	(In millions)
GenConn
Operating revenues	$	60	$	60	$	65
Operating income	26		27		32
Net income	17		17		22
Desert Sunlight
Operating revenues	209		205		208
Operating income	142		123		129
Net income	88		58		84












Other(a)
Operating revenues	299		318		332
Operating income	138		110		126
Net income	$	60	$	50	$	86
			As of December 31,
			2020		2019
Balance Sheet Data:			(In millions)
GenConn
Current assets			$	40	$	37
Non-current assets			344		342
Current liabilities			17		16
Non-current liabilities			185		176
Desert Sunlight
Current assets			132		209
Non-current assets			1,244		1,296
Current liabilities			71		545
Non-current liabilities			921		484

















Other (a)
Current assets			177		279
Non-current assets			2,201		3,412
Current liabilities			114		809
Non-current liabilities			700		500
Redeemable noncontrolling interest			$	—	$	(1)

Schedule of variable interest entities

Summarized financial information for the Company's consolidated VIEs consisted of the following as of December 31, 2020:


(In millions)	Oahu Solar Partnership		Kawailoa Partnership		Wildorado TE Holdco		DGPV Funds(a)		Lighthouse Renewable Holdco LLC		Rosie TargetCo LLC		Langford TE Partnership LLC		Alta TE Holdco		Buckthorn Renewables, LLC		Other (b)
Other current and non-current assets	$	23	$	21	$	14	$	105	$	48	$	40	$	15	$	56	$	2	$	21
Property, plant and equipment	179		141		240		778		444		258		138		356		210		184
Intangible assets	—		—		—		2		—		—		2		225		—		1
Total assets	202		162		254		885		492		298		155		637		212		206
Current and non-current liabilities	122		111		11		77		82		118		18		44		9		33
Total liabilities	122		111		11		77		82		118		18		44		9		33
Noncontrolling interest	14		31		123		4		347		150		108		33		58		99
Net assets less noncontrolling interests	$	66	$	20	$	120	$	804	$	63	$	30	$	29	$	560	$	145	$	74

(a) DGPV Funds is comprised of DGPV Fund 2 LLC, Clearway & EFS Distributed Solar LLC, DGPV Fund 4 LLC, Golden Puma Fund LLC, Renew Solar CS4 Fund LLC and Chestnut Fund LLC

(b) Other is comprised of Crosswinds, Hardin, Elbow Creek Holdco and Spring Canyon projects

- 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

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

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, 2020				As of December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In millions)


Liabilities:
Long-term debt, including current portion (a)	$	7,048	$	7,020	$	6,858	$	6,957

(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, 2020 and 2019:


	As of December 31, 2020				As of December 31, 2019
	Level 2		Level 3		Level 2		Level 3
	(In millions)
Long-term debt, including current portion	$	1,905	$	5,115	$	1,736	$	5,221

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, 2020		As of December 31, 2020		As of December 31, 2019		As of December 31, 2019
	Fair Value		Fair Value (a)		Fair Value (a)		Fair Value (a)
(In millions)	Level 2		Level 3		Level 2		Level 3
Derivative assets

Interest rate contracts	$	1	$	—	$	—	$	—
Other financial instruments (b)	—		29		—		—
Total assets	$	1	$	29	$	—	$	—
Derivative liabilities
Commodity contracts	$	—	$	44	$	—	$	9
Interest rate contracts	129		—		83		—
Total liabilities	$	129	$	44	$	83	$	9

(b) SREC contract acquired on November 2, 2020.


	Year ended December 31,
		2020		2019
(In millions)	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
Beginning balance		$	(9)	$	—
Total losses for the period included in earnings		—		(3)
Purchases		(6)		(6)
Ending balance		$	(15)	$	(9)
Change in unrealized losses included in earnings for derivatives held as of December 31,		$	1	$	(3)

The following table quantifies the significant unobservable inputs used in developing the fair value of the Company's Level 3 positions as of December 31, 2020:

December 31, 2020

Fair Value

Input/Range

Assets

Liabilities

Valuation Technique

Significant Unobservable Input

Low

High

Weighted Average

(In millions)

Power Contracts

—

(44)

Discounted Cash Flow

Forward Market Price (per MWh)

8.64

42.37

17.93

Other Financial Instruments

—

Discounted Cash Flow

Forecast annual generation levels of certain DG solar facilities

80,872 MWh

131,374 MWh

126,063 MWh

The following table provides sensitivity of fair value measurements to increases/(decreases) in significant unobservable inputs as of December 31, 2020:


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)
Forecast Generation Level	Sell	Increase/(Decrease)	Higher/(Lower)

Accounting for Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020 and 2019:


		Total Volume
		December 31, 2020		December 31, 2019
Commodity	Units	(In millions)
Natural Gas	MMBtu	1		2
Power	MWh	(8)		(2)
Interest	Dollars	$	1,600	$	1,788

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, 2020		December 31, 2020		December 31, 2019
	(In millions)
Derivatives Designated as Cash Flow Hedges:
Interest rate contracts current	$	—	$	8	$	3
Interest rate contracts long-term	—		15		11
Total Derivatives Designated as Cash Flow Hedges	$	—	$	23	$	14
Derivatives Not Designated as Cash Flow Hedges:
Interest rate contracts current	—		25		13
Interest rate contracts long-term	1		81		56
Commodity contracts current	—		5		—
Commodity contracts long-term	—		39		9
Total Derivatives Not Designated as Cash Flow Hedges	1		150		78
Total Derivatives	$	1	$	173	$	92

(a)There were no derivative assets as of December 31, 2019.

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, 2020	Gross Amounts of Recognized Assets/Liabilities		Derivative Instruments		Net Amount
Commodity contracts	(In millions)

Derivative liabilities	(44)		—		(44)
Total commodity contracts	(44)		—		(44)
Interest rate contracts
Derivative assets	$	1	$	—	$	1
Derivative liabilities	(129)		—		(129)
Total interest rate contracts	(128)		—		(128)
Total derivative instruments	$	(172)	$	—	$	(172)


	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)

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,
	2020		2019		2018
	(In millions)
Accumulated OCL beginning balance	$	(31)	$	(38)	$	(60)
Reclassified from accumulated OCL to income due to realization of previously deferred amounts	8		16		14
Mark-to-market of cash flow hedge accounting contracts	(7)		(9)		8
Accumulated OCL ending balance, net of income tax benefit of $5, $6 and $7, respectively	$	(30)	$	(31)	$	(38)
Accumulated OCL attributable to noncontrolling interests	(16)		(16)		(20)
Accumulated OCL attributable to Clearway Energy, Inc.	$	(14)	$	(15)	$	(18)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $4	$	(9)

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020	PPAs		Leasehold Rights		Customer Relationships		Customer Contracts		Emission Allowances		Other		Total
(In millions)
January 1, 2020	$	1,630	$	86	$	66	$	15	$	17	$	8	$	1,822

Consolidation of DGPV Holdco Entities	23		—		—		—		—		—		23

Other	8		—		—		—		—		4		12
December 31, 2020	$	1,661	$	86	$	66	$	15	$	17	$	12	$	1,857
Less accumulated amortization	(431)		(26)		(11)		(11)		(3)		(5)		(487)
Net carrying amount	$	1,230	$	60	$	55	$	4	$	14	$	7	$	1,370


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	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

Schedule future amortization expense for intangibles

The Company estimates the future amortization expense for its intangibles for the next five years as follows:


	(In millions)

2021	$	91
2022	91
2023	88
2024	85
2025	$	84

Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of long-term debt

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


	December 31, 2020		December 31, 2019		Interest rate % (a)	Letters of Credit Outstanding at December 31, 2020
	(In millions, except rates)
2020 Convertible Notes	—		45		3.250
2024 Senior Notes	—		88		5.375
2025 Senior Notes	600		600		5.750
2026 Senior Notes	350		350		5.000
2028 Senior Notes	850		600		4.750
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023 (b)	—		—		L+1.50	$	66
Project-level debt:
Alpine, due 2022(e)	—		119		L+2.00	—
Alta Wind I-V lease financing arrangements, due 2034 and 2035	800		844		5.696- 7.015	44
Alta Wind Asset Management LLC, due 2031	14		15		L+2.50	—
Alta Wind Realty Investments LLC, due 2031	25		27		7.000	—
Borrego, due 2024 and 2038	57		60		Various	4
Buckthorn Solar, due 2025	126		129		L+1.750	22
Carlsbad Holdco, due 2038	210		216		4.210	4
Carlsbad Energy Holdings LLC, due 2027	156		175		L+1.625	63
Carlsbad Energy Holdings LLC, due 2038	407		407		4.120	—
CVSR, due 2037	675		696		2.339 - 3.775	—
CVSR Holdco Notes, due 2037	176		182		4.680	13
DG-CS Master Borrower LLC, due 2040	467		—		3.510	30
Duquesne, due 2059	95		95		4.620	—
El Segundo Energy Center, due 2023	250		303		L+1.875 - L+2.500	138
Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037	327		328		various	—
Laredo Ridge, due 2028	78		84		L+2.125	10
Kawailoa Solar Portfolio LLC, due 2026	81		82		L+1.375	14
Marsh Landing, due 2023	146		206		L+2.125	27
NIMH Solar, due 2024	191		—		L+2.00	11
Oahu Solar Holdings LLC, due 2026	89		91		L+1.375	10
Repowering Partnership Holdco LLC, due 2020	—		228		L+0.85	—
Rosie Class B LLC, due 2027	80		—		L+1.75	19
Tapestry, due 2031	143		156		L+1.375	17
Utah Solar Holdings, due 2036	290		—		3.590	11
Utah Solar Portfolio, due 2022	—		254		L+1.625	—
Walnut Creek, due 2023	126		175		L+1.75	73
WCEP Holdings, LLC, due 2023	35		39		L+3.00	—
Other(c)	199		264		various	50
Subtotal project-level debt	5,243		5,175
Total debt	7,043		6,858
Less current maturities	(384)		(1,824)
Less net debt issuance costs	(79)		(78)
Add premiums (d)	5		—
Total long-term debt	$	6,585	$	4,956

(a) As of December 31, 2020, L+ equals 3 month LIBOR plus x%, except Rosie Class B, due 2027 where L+ equals 1 month LIBOR plus x%

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

(c) December 31, 2019 includes Blythe and Roadrunner debt outstanding of $14 million and $28 million, respectively which were transferred to NIMH in the third quarter of 2020, as described below

(d) Premiums relate to the 2028 Senior Notes

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, 2020:


	% of Principal		Fixed Interest Rate		Floating Interest Rate	Notional Amount at December 31, 2020 (In millions)		Effective Date	Maturity Date
Avra Valley	87	%	2.33	%	3-Month LIBOR	38		November 30, 2012	November 30, 2030
Alta Wind Asset Management	100	%	2.47	%	3-Month LIBOR	14		May 22, 2013	May 15, 2031
Borrego	100	%	0.476	%	3-Month LIBOR	13		June 30, 2020	December 31, 2024
Buckthorn Solar	82	%	Various		3-Month LIBOR	103		February 28, 2018	December 31, 2041
Carlsbad	100	%	Various		3-Month LIBOR	156		Various	September 30, 2027
El Segundo	100	%	Various		3-Month LIBOR	250		Various	Various
Kansas South	75	%	2.368	%	6-Month LIBOR	17		June 28, 2013	December 31, 2030
Kawailoa Solar	94	%	Various		3-Month LIBOR	76		November 30, 2019	October 31, 2040
Laredo Ridge	100	%	Various		3-Month LIBOR	78		December 17, 2014	December 31, 2028
Marsh Landing	100	%	Various		3-Month LIBOR	146		June 28, 2013	June 30, 2023
NIMH Solar LLC	100	%	Various		3-Month LIBOR	191		September 30, 2020	Various
Oahu Solar	96	%	Various		3-Month LIBOR	86		November 30, 2019	October 31, 2040
Rosie Class B	95	%	1.446	%	3-Month LIBOR	76		December 31, 2020	July 29, 2044
South Trent	90	%	3.847	%	3-Month LIBOR	35		June 14, 2019	June 30, 2028
Tapestry	75	%	Various		3-Month LIBOR	107		Various	Various
Tapestry	50	%	3.57	%	3-Month LIBOR	12		December 21, 2021	December 21, 2029
Viento Funding II	100	%	3.03	%	6-Month LIBOR	33		Various	Various
Viento Funding II	100	%	4.985	%	6-Month LIBOR	21		July 11, 2023	June 30, 2028
Walnut Creek Energy	90	%	3.543	%	3-Month LIBOR	114		June 28, 2013	May 31, 2023
WCEP Holdings	100	%	4.003	%	3-Month LIBOR	34		June 28, 2013	May 31, 2023
Total						$	1,600

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, 2020, are as follows:


	(In millions)
2021	$	384
2022	407
2023	431
2024	359
2025	934
Thereafter	4,528
Total	$	7,043

- 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Topic 235
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Earnings (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Reconciliation of the Company's basic (loss) 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,
	2020				2019				2018
(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 income (loss) attributable to Clearway Energy, Inc.	$	7	$	18	$	(4)	$	(7)	$	16	$	32
Weighted average number of common shares outstanding — basic	35		80		35		74		35		69
Weighted average number of common shares outstanding — diluted	35		81		35		74		35		69
Earnings (loss) per weighted average common share — basic and diluted	$	0.22	$	0.22	$	(0.10)	$	(0.10)	$	0.46	$	0.46

(a) Net income (loss) attributable to Clearway Energy, Inc. and basic and diluted earnings (loss) 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,
	2020	2019	2018
	(In millions of shares)
2019 Convertible Notes - Common Class A	—	—	9
2020 Convertible Notes - Common Class C	—	2	8

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Attributable to Parent [Abstract]

Schedule of shares sold under the ATM programs

The following table summarizes Class C common stock shares sold under the ATM Programs during the year end December 31, 2020 :


	Number of shares sold	Gross Proceeds from the sale of shares(a) (in millions)
2020 ATM Program	940,790	$	24
2016 ATM Program	1,749,665	39
Total Class C common stock sold during the year ended December 31, 2020	2,690,455	$	63

(a) The Company incurred commission fees of $0.6 million during the year ended December 31, 2020.

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, 2020:


	Fourth Quarter 2020		Third Quarter 2020		Second Quarter 2020		First Quarter 2020
Dividends per Class A share	$	0.3180	$	0.3125	$	0.2100	$	0.2100
Dividends per Class C share	$	0.3180	$	0.3125	$	0.2100	$	0.2100

Schedule of distributions paid

The following table lists the distributions paid to CEG during the year ended December 31, 2020 on Clearway Energy LLC's Class B and D units:


	Fourth Quarter 2020		Third Quarter 2020		Second Quarter 2020		First Quarter 2020
Distributions per Class B unit	$	0.3180	$	0.3125	$	0.2100	$	0.2100
Distributions per Class D unit	$	0.3180	$	0.3125	$	0.2100	$	0.2100

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020, 2019 and 2018:


	2020		2019		2018
Customer	Conventional	Renewables	Conventional	Renewables	Conventional	Renewables
SCE	18%	16%	21%	19%	20%	20%
PG&E	10%	8%	12%	10%	12%	11%

Segment reporting information


	Year ended December 31, 2020
(In millions)	Conventional Generation		Renewables		Thermal		Corporate (a)		Total
Operating revenues	$	437	$	569	$	193	$	—	$	1,199
Cost of operations	90		147		131		(2)		366
Depreciation, amortization and accretion	132		264		32		—		428
Impairment losses	—		24		—		—		24
General and administrative	—		—		3		31		34
Transaction and integration costs	—		—		—		9		9
Development costs	—		—		5		—		5
Operating income (loss)	215		134		22		(38)		333
Equity in earnings (losses) of unconsolidated affiliates	8		(1)		—		—		7
Impairment loss on investment	—		(8)		—		—		(8)
Gain on sale of unconsolidated affiliates	—		—		—		49		49
Other income, net	1		3		—		—		4
Loss on debt extinguishment	—		(21)		—		(3)		(24)
Interest expense, net	(84)		(216)		(19)		(96)		(415)
Income (loss) before income taxes	140		(109)		3		(88)		(54)
Income tax benefit	—		—		—		8		8
Net Income (Loss)	140		(109)		3		(96)		(62)

Net Income (Loss) Attributable to Clearway Energy, Inc.	$	140	$	3	$	3	$	(121)	$	25
Balance Sheet
Equity investment in affiliates	$	90	$	651	$	—	$	—	$	741
Capital expenditures (b)	12		44		50		—		106
Total Assets	$	2,575	$	7,157	$	627	$	233	$	10,592

(a) Includes eliminations

(b) Includes accruals


	Year ended December 31, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Corporate		Total
Operating revenues	$	346	$	485	$	201	$	—	$	1,032
Cost of operations	60		143		134		—		337
Depreciation, amortization and accretion	103		271		27		—		401
Impairment losses	—		14		19		—		33
General and administrative	—		1		3		25		29
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 investments 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	61		139		127		—		327
Depreciation, amortization and accretion	102		211		23		—		336

General and administrative	—		—		1		19		20
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

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income tax provision from continuing operations

The income tax provision consisted of the following amounts:


	Year Ended December 31,
	2020		2019		2018
	(In millions)




Deferred
U.S. Federal	$	7	$	(4)	$	28
State	1		(4)		34
Total — deferred	8		(8)		62
Total income tax expense (benefit)	$	8	$	(8)	$	62

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% to the Company's effective rate is as follows:


	Year Ended December 31,
	2020			2019			2018
	(In millions, except percentages)
Income Before Income Taxes	$	(54)		$	(104)		$	116
Tax at 21%	(11)			(22)			24
State taxes, net of federal benefit	(4)			(7)			8
Deferred state rate change due to deconsolidation from NRG	—			—			20

Impact of non-taxable equity earnings	24			24			8
Investment tax credits	—			(1)			(3)
Production tax credits, including prior year true-up	(1)			(1)			(1)
Valuation allowance adjustment	—			—			3
Rate Change	2			—			—
Other	(2)			(1)			3
Income tax expense (benefit)	$	8		$	(8)		$	62
Effective income tax rate	(14.8)		%	7.7		%	53.4		%

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,
	2020		2019
	(In millions)
Deferred tax liabilities:
Investment in projects	$	226	$	227
Total deferred tax liabilities	226		227
Deferred tax assets:


Interest expense disallowance carryforward - Investment in Projects	11		50
Production tax credits	9		9
Investment tax credits	5		5
U.S. Federal net operating loss carryforwards	260		215
Capital loss carryforwards	12		12
State net operating loss carryforwards	48		43
Total deferred tax assets	345		334
Valuation allowance	(15)		(15)
Total deferred tax assets, net of valuation allowance	330		319
Net deferred noncurrent tax asset	$	104	$	92

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Long-term purchase commitment

As of December 31, 2020, the Company's commitments under such outstanding agreements are estimated as follows:


Period	(In millions)
2021	$	9
2022	3
2023	2
2024	—
2025	—
Thereafter	—
Total	$	14

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease, Cost

Lease expense for the year ended December 31, 2020 and December 31, 2019 was comprised of the following:


(In millions)	December 31, 2020		December 31, 2019
Operating lease cost - Fixed	$	19	$	13

Operating lease cost - Variable	9		8
Total lease cost	$	28	$	21

Operating lease information as of December 31, 2020 and 2019 was as follows:


(In millions, except term and rate)	December 31, 2020			December 31, 2019
ROU Assets - operating leases, net (a)	$	337		$	223

Short-term lease liability - operating leases (b)	$	8		$	7
Long-term lease liability - operating leases (a)	345			227
Total lease liability	$	353		$	234

Weighted average remaining lease term (in years)	25			25
Weighted average discount rate	4.3		%	4.4		%

Cash paid for operating leases	$	19		$	15

(a) Increase in ROU Assets and lease liabilities is primarily due to the acquisition of Drop Down Assets, as further described in Note 3, Acquisitions and Dispositions

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of December 31, 2020 are as follows:


(In millions)
2021	$	23
2022	23
2023	23
2024	23
2025	23
Thereafter	476
Total lease payments	591
Less imputed interest	(238)
Total lease liability - operating leases	$	353

Energy and Capacity Revenue

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



	Conventional Generation		Renewables		Thermal		Total
December 31, 2020	(In millions)
Energy revenue	$	10	$	554	$	2	$	566
Capacity revenue	451		—		—		451
Operating revenue	$	461	$	554	$	2	$	1,017



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

Minimum Future Rent Payments Under the Operating Leases

Minimum future rent payments for the remaining periods related to the Conventional segment operating leases were as follows as of December 31, 2020:


(In millions)
2021	$	444
2022	450
2023	259
2024	106
2025	107
Thereafter	1,498
Total lease payments	$	2,864

Minimum future rent payments for the remaining periods related to the Thermal segment sales-type lease were as follows as of December 31, 2020:


(In millions)
2021	$	1
2022	1
2023	1
2024	1
2025	1
Thereafter	9
Total sales-type lease payments	$	14

Property, Plant, and Equipment Net

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


(In millions)	December 31, 2020		December 31, 2019
Property, plant and equipment	$	7,201	$	6,942
Accumulated depreciation	(1,964)		(1,649)
Net property, plant and equipment	$	5,237	$	5,293

Unaudited Quarterly Data (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Summary of unaudited quarterly data

Below is summarized unaudited quarterly financial data for the periods ending December 31, 2020 and 2019.


	Quarter Ended
	December 31,		September 30,		June 30,		March 31,
	2020
	(In millions, except per share data)
Operating Revenues	$	280	$	332	$	329	$	258




Operating Income	28		123		130		52




Net (Loss) Income	(73)		42		76		(107)




Net (Loss) Income Attributable to Clearway Energy, Inc.	$	(25)	$	32	$	47	$	(29)
Weighted average number of Class A common shares outstanding — basic and diluted	35		35		35		35

Weighted average number of Class C common shares outstanding — basic and diluted	81		81		80		79

(Loss) Earnings per Weighted Average Common Share Basic and Diluted	$	(0.20)	$	0.27	$	0.41	$	(0.26)


	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) Income 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)

Nature of Business - Narrative (Details) - MW	12 Months Ended
Nature of Business - Narrative (Details) - MW	Dec. 31, 2020	Aug. 31, 2018	Mar. 31, 2018	Mar. 30, 2018
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest acquired				100.00%
NRG
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest acquired			100.00%
Clearway Energy, Inc. \| NRG
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest sold		100.00%
Clearway Energy LLC
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Limited liability company or limited partnership, members or limited partners, ownership interest	57.61%
Clearway Energy LLC \| CEG
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Limited liability company or limited partnership, members or limited partners, ownership interest	42.39%
Clearway Energy LLC \| Clearway Energy, Inc.
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Limited liability company or limited partnership, members or limited partners, ownership interest	57.61%
Clearway Energy LLC \| GIP
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest acquired		45.20%
Clearway Energy LLC \| Clearway Energy LLC \| CEG
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Limited liability company or limited partnership, members or limited partners, ownership interest	42.39%
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 capacity, megawatts	4,200
Generational Facilities and District Energy Systems
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Power generation capacity, megawatts	2,500
Shareholders \| 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%
Limited liability company (LLC) or limited partnership (LP), members or limited partners, voting interest	45.05%
GIP \| 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%
Limited liability company (LLC) or limited partnership (LP), members or limited partners, voting interest	54.95%

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Summary of Significant Accounting Policies [Line Items]
Restricted cash	$ 197	$ 262
Contingent rental income	589	537	$ 583
General and administrative	$ 3	4	3
Income tax benefit threshold	50.00%
State net operating loss carryforwards	$ 48	43
Lease liability	353	234
Right-of-use assets, net	337	223
NRG
Summary of Significant Accounting Policies [Line Items]
State net operating loss carryforwards			$ 22
Long-Term Debt, Current
Summary of Significant Accounting Policies [Line Items]
Restricted cash	24
Debt Service Obligations
Summary of Significant Accounting Policies [Line Items]
Restricted cash	45
Cash Distribution
Summary of Significant Accounting Policies [Line Items]
Restricted cash	55
Operating Funds
Summary of Significant Accounting Policies [Line Items]
Restricted cash	73
Cumulative Effect, Period of Adoption, Adjustment
Summary of Significant Accounting Policies [Line Items]
Lease liability				$ 165
Right-of-use assets, net				$ 159
Project Level Subsidiaries
Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents held at project subsidiaries	$ 149	$ 125

Summary of Significant Accounting Policies - Cash and Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Cash and cash equivalents	$ 268	$ 155
Restricted cash	197	262
Cash, cash equivalents and restricted cash shown in the statements of cash flows	$ 465	$ 417	$ 583	$ 316

Summary of Significant Accounting Policies - Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 280	$ 332	$ 329	$ 258	$ 235	$ 296	$ 284	$ 217	$ 1,199	$ 1,032	$ 1,053
Energy revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue									(566)	(516)
Capacity revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue									(451)	(348)
Conventional Generation \| Energy revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue									(10)	(5)
Conventional Generation \| Capacity revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue									(451)	(348)
Renewables \| Energy revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue									(554)	(509)
Renewables \| Capacity revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue									0	0
Thermal \| Energy revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue									(2)	(2)
Thermal \| Capacity revenue
Disaggregation of Revenue [Line Items]
Less: Lease revenue									0	0
Operating Segments
Disaggregation of Revenue [Line Items]
Total operating revenue									1,199	1,032	1,053
Less: Contract amortization									(88)	(71)	(70)
Mark-to-market for economic hedges										(9)
Less: Lease revenue									(1,017)	(864)	(878)
Total revenue from contracts with customers									270	239	245
Operating Segments \| Energy revenue
Disaggregation of Revenue [Line Items]
Total operating revenue									720	670	697
Operating Segments \| Capacity revenue
Disaggregation of Revenue [Line Items]
Total operating revenue									514	402	387
Operating Segments \| Other revenues
Disaggregation of Revenue [Line Items]
Total operating revenue									53	40	39
Operating Segments \| Conventional Generation
Disaggregation of Revenue [Line Items]
Total operating revenue									437	346	337
Less: Contract amortization									(24)	(7)	(5)
Mark-to-market for economic hedges										0
Less: Lease revenue									(461)	(353)	(342)
Total revenue from contracts with customers									0	0	0
Operating Segments \| Conventional Generation \| Energy revenue
Disaggregation of Revenue [Line Items]
Total operating revenue									10	5	5
Operating Segments \| Conventional Generation \| Capacity revenue
Disaggregation of Revenue [Line Items]
Total operating revenue									451	348	337
Operating Segments \| Conventional Generation \| Other revenues
Disaggregation of Revenue [Line Items]
Total operating revenue									0	0	0
Operating Segments \| Renewables
Disaggregation of Revenue [Line Items]
Total operating revenue									569	485	523
Less: Contract amortization									(61)	(61)	(62)
Mark-to-market for economic hedges										(9)
Less: Lease revenue									(554)	(509)	(534)
Total revenue from contracts with customers									76	37	51
Operating Segments \| Renewables \| Energy revenue
Disaggregation of Revenue [Line Items]
Total operating revenue									609	545	572
Operating Segments \| Renewables \| Capacity revenue
Disaggregation of Revenue [Line Items]
Total operating revenue									0	0	0
Operating Segments \| Renewables \| Other revenues
Disaggregation of Revenue [Line Items]
Total operating revenue									21	10	13
Operating Segments \| Thermal
Disaggregation of Revenue [Line Items]
Total operating revenue									193	201	193
Less: Contract amortization									(3)	(3)	(3)
Mark-to-market for economic hedges										0
Less: Lease revenue									(2)	(2)	(2)
Total revenue from contracts with customers									194	202	194
Operating Segments \| Thermal \| Energy revenue
Disaggregation of Revenue [Line Items]
Total operating revenue									101	120	120
Operating Segments \| Thermal \| Capacity revenue
Disaggregation of Revenue [Line Items]
Total operating revenue									63	54	50
Operating Segments \| Thermal \| Other revenues
Disaggregation of Revenue [Line Items]
Total operating revenue									$ 32	$ 30	$ 26

Summary of Significant Accounting Policies - Contract Balances (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 143	$ 116
Customer Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	57	34
Lease Agreements
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 86	$ 82

Summary of Significant Accounting Policies - Asset Retirement Obligation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance as of December 31, 2019	$ 75
Revisions in estimates for current obligations	9
Additions	26
Accretion — expense	7
Balance as of December 31, 2020	$ 117

Acquisitions and Dispositions - Narrative (Details) $ in Millions															1 Months Ended					3 Months Ended	12 Months Ended
	Feb. 03, 2021 USD ($) MW	Jan. 12, 2021 USD ($) MW	Dec. 21, 2020 USD ($) MW	Nov. 20, 2020 USD ($) MW	Nov. 02, 2020 USD ($)	Sep. 01, 2020 USD ($) MW	May 14, 2020 USD ($)	Mar. 03, 2020 USD ($)	Dec. 06, 2019 USD ($) MW	Oct. 08, 2019 USD ($) MW	May 01, 2019 USD ($) MW	Jun. 19, 2018 USD ($)	Apr. 18, 2018 USD ($) MW	Mar. 31, 2018 USD ($)	Jan. 31, 2021 USD ($)	Jan. 31, 2021 USD ($)	Jan. 31, 2020 USD ($)	Jan. 31, 2019 USD ($)	May 31, 2018 USD ($)	Dec. 31, 2020 USD ($) MW	Dec. 31, 2020 USD ($) MW	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Feb. 02, 2021	Mar. 30, 2018 USD ($) MW
Business Acquisition [Line Items]
Ownership interest acquired																									100.00%
Payments to acquire equity method investments																					$ 11	$ 13	$ 34
Equity method investments																				$ 741	741	1,183
Long-term debt																				$ 7,043	7,043	6,858
Non-controlling interest				$ 119
Proceeds from noncontrolling interests																					$ 247	$ 174	91
Mesquite Star
Business Acquisition [Line Items]
Equity method investments			$ 58
Net assets less noncontrolling interests			$ 63
Mesquite Star HoldCo LLC
Business Acquisition [Line Items]
Power generation capacity, megawatts \| MW						419
Payments to acquire equity method investments						$ 74
Adjustment to noncontrolling interest						$ 83
Remaining lease term						12 years
RPV Holdco 1 LLC
Business Acquisition [Line Items]
Net proceeds from disposition							$ 75
Gain (loss) on disposition							$ 49
Energy Center Dover
Business Acquisition [Line Items]
Net proceeds from disposition								$ 15
Sale of assets, percentage of ownership interest sold								100.00%
Duquesne University District Energy System
Business Acquisition [Line Items]
Power generation capacity, megawatts \| MW											87
UPMC thermal project cash considerations											$ 107
Power purchase agreement period											40 years
Carlsbad Drop Down
Business Acquisition [Line Items]
Ownership interest acquired									100.00%
UPMC thermal project cash considerations									$ 184
Power purchase agreement period									20 years
Long-term debt									$ 803
UPMC Thermal
Business Acquisition [Line Items]
UPMC thermal project cash considerations												$ 84					$ 1	$ 3
Central CA Fuel Cell 1
Business Acquisition [Line Items]
UPMC thermal project cash considerations													$ 11
Power purchase agreement period													20 years
Buckthorn Solar Drop Down Asset
Business Acquisition [Line Items]
Power generation capacity, megawatts \| MW																									154
UPMC thermal project cash considerations														$ 42
Non-controlling interest														$ 19
HSD Solar Holdings, LLC
Business Acquisition [Line Items]
Power generation capacity, megawatts \| MW										6
UPMC thermal project cash considerations										$ 20
Sale of assets, percentage of ownership interest sold										100.00%
November 2017 Drop Down Assets
Business Acquisition [Line Items]
Long-term debt										$ 23
Langford Holding LLC
Business Acquisition [Line Items]
Ownership interest acquired				100.00%
Power generation capacity, megawatts \| MW				160
Payments to acquire businesses, gross				$ 64
Net assets less noncontrolling interests				$ 21
Langford Holding LLC \| CEG
Business Acquisition [Line Items]
Ownership interest acquired				100.00%
UPMC thermal project cash considerations				$ 55
Langford Holding LLC \| Third Party Investor
Business Acquisition [Line Items]
Ownership interest acquired				100.00%
UPMC thermal project cash considerations				$ 9
DGPV Funds \| Renew DG Holdings LLC \| Affiliated Entity
Business Acquisition [Line Items]
Payments to acquire businesses, gross					$ 20
DGPV Funds \| SERC
Business Acquisition [Line Items]
Payments to acquire businesses, gross					$ 24
Rosie TargetCo LLC
Business Acquisition [Line Items]
Ownership interest acquired			100.00%
Power generation capacity, megawatts \| MW			192
Payments to acquire businesses, gross			$ 23
Net assets less noncontrolling interests			28
Non-controlling interest			$ 52
Rosie TargetCo LLC \| CEG
Business Acquisition [Line Items]
Ownership interest acquired			100.00%
Buckthorn Solar, due 2025
Business Acquisition [Line Items]
Long-term debt																			$ 132
Buckthorn Solar, due 2025 \| Buckthorn Solar Drop Down Asset
Business Acquisition [Line Items]
Long-term debt																									$ 183
NRG
Business Acquisition [Line Items]
Ownership interest acquired														100.00%
Accounts payable, related parties																							$ 4
Buckthorn Solar Drop Down Asset
Business Acquisition [Line Items]
Power purchase agreement period																			25 years
Proceeds from noncontrolling interests																			$ 80
Lighthouse Renewable Holdco LLC \| Mesquite Star Tax Equity Holdco LLC
Business Acquisition [Line Items]
Ownership interest																				100.00%
Natural Gas \| Carlsbad Drop Down
Business Acquisition [Line Items]
Power generation capacity, megawatts \| MW									527
Thermal \| Central CA Fuel Cell 1
Business Acquisition [Line Items]
Power generation capacity, megawatts \| MW													2.8
Thermal \| UPMC Thermal
Business Acquisition [Line Items]
Power generation capacity, megawatts \| MW																				7.5	7.5
Steam and chilled water capacity, megawatts thermal equivalent \| MW																				73	73
Subsequent Event \| Clearway Energy, Inc.
Business Acquisition [Line Items]
Equity interest																								16.00%
Subsequent Event \| Agua Caliente Solar
Business Acquisition [Line Items]
Ownership interest	51.00%
Subsequent Event \| Rattlesnake Flat, LLC
Business Acquisition [Line Items]
Ownership interest acquired		100.00%
Power generation capacity, megawatts \| MW		160
UPMC thermal project cash considerations		$ 132
Subsequent Event \| Agua Caliente Solar
Business Acquisition [Line Items]
Ownership interest acquired	35.00%
Power generation capacity, megawatts \| MW	290
UPMC thermal project cash considerations	$ 202
Power purchase agreement period	25 years
Power purchase remaining agreement period	19 years
Subsequent Event \| Rosie TargetCo LLC
Business Acquisition [Line Items]
Payments to acquire businesses, gross															$ 24	$ 1

Acquisitions and Dispositions - Summary of Assets and Liabilities Transferred (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 21, 2020	Nov. 20, 2020	Dec. 31, 2019	Dec. 06, 2019
Business Acquisition [Line Items]
Other current and non-current liabilities			$ 17
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total			17
Net debt issuance costs	$ 79			$ 78
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value			119
CBAD Holdings, LLC
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets					$ 36
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					572
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					337
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets					51
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total					996
Debt					791
Other current and non-current liabilities					56
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total					847
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total					149
Net debt issuance costs					12
Contingent liability					$ 5
Rosie TargetCo LLC
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets		$ 49
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		246
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total		296
Other current and non-current liabilities		11
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total		216
Outstanding debt at time of acquisition		205
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value		52
Net assets less noncontrolling interests		$ 28
Langford Holding LLC
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets			4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment			138
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			15
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total			157
Net assets less noncontrolling interests			$ 21

Acquisitions and Dispositions - Summary Consolidated Balances (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 21, 2020	Nov. 02, 2020	May 29, 2020	Dec. 31, 2019
Subsidiary or Equity Method Investee [Line Items]
Current assets	$ 708				$ 608
Property, plant and equipment	7,217				6,063
Other non-current assets	114				103
Long-term debt	7,043				6,858
Total assets	10,592				9,700
Total liabilities	$ 7,877				$ 7,437
Mesquite Star
Subsidiary or Equity Method Investee [Line Items]
Current assets		$ 22
Property, plant and equipment		443
Other non-current assets		31
Total assets		496
Other current and non-current liabilities		87
Total liabilities		87
Net assets less noncontrolling interests		63
Noncontrolling interest		$ 346
DGPV Holdco 3
Subsidiary or Equity Method Investee [Line Items]
Current assets				$ 32
Property, plant and equipment				331
Intangible assets, net				1
Other non-current assets				37
Long-term debt				206
Total assets				401
Other current and non-current liabilities				84
Total liabilities				290
Net assets less noncontrolling interests				105
Noncontrolling interest				$ 6
DGPV Holdco 1 and 2
Subsidiary or Equity Method Investee [Line Items]
Current assets			$ 29
Property, plant and equipment			324
Intangible assets, net			19
Other non-current assets			52
Long-term debt			160
Total assets			424
Other current and non-current liabilities			54
Total liabilities			214
Net assets less noncontrolling interests			205
Noncontrolling interest			$ 5

Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 9,540	$ 7,943
Accumulated depreciation	(2,323)	(1,880)
Net property, plant and equipment	7,217	6,063
Prepaid long term service agreement	14	10
Depreciation expense	420	395	$ 330
Facilities and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 9,254	7,676
Facilities and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	2 years
Facilities and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	45 years
Land and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 224	173
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	62	94
Wildorado Wind and Elbow Creek
Property, Plant and Equipment [Line Items]
Depreciation expense		$ 54
Repowering Partnership LLC
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 9

Investments Accounted for by the Equity Method and Variable Interest Entities - Equity Method Investments (Details) - USD ($) $ in Millions		3 Months Ended								12 Months Ended
	Feb. 03, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Equity method investments		$ 741				$ 1,183				$ 741	$ 1,183
Total operating revenue		280	$ 332	$ 329	$ 258	235	$ 296	$ 284	$ 217	1,199	1,032	$ 1,053
Operating income		28	123	130	52	6	90	87	41	333	224	347
Net (Loss) Income		(73)	$ 42	$ 76	$ (107)	(48)	$ 35	$ (36)	$ (47)	(62)	(96)	54
Current assets		708				608				708	608
Current liabilities		634				2,057				634	2,057
Non-current liabilities		$ 7,243				5,380				$ 7,243	5,380
Subsequent Event \| Agua Caliente Solar
Schedule of Equity Method Investments [Line Items]
VIE ownership percentage	51.00%
Utah Solar Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		50.00%								50.00%
Equity method investments		$ 255								$ 255
Desert Sunlight
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		25.00%								25.00%
Equity method investments		$ 244								$ 244
Total operating revenue										209	205	208
Operating income										142	123	129
Net (Loss) Income										88	58	84
Current assets		132				209				132	209
Non-current assets		1,244				1,296				1,244	1,296
Current liabilities		71				545				71	545
Non-current liabilities		$ 921				484				$ 921	484
Agua Caliente Solar
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		16.00%								16.00%
Equity method investments		$ 83								$ 83
Agua Caliente Solar \| Subsequent Event
Schedule of Equity Method Investments [Line Items]
Additional equity method investment interests acquired	35.00%
GenConn
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		50.00%								50.00%
Equity method investments		$ 90								$ 90
Total operating revenue										60	60	65
Operating income										26	27	32
Net (Loss) Income										17	17	22
Current assets		40				37				40	37
Non-current assets		344				342				344	342
Current liabilities		17				16				17	16
Non-current liabilities		$ 185				176				$ 185	176
San Juan Mesa
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		75.00%								75.00%
Equity method investments		$ 33								$ 33
Elkhorn Ridge
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		66.70%								66.70%
Equity method investments		$ 38								$ 38
Other
Schedule of Equity Method Investments [Line Items]
Total operating revenue										299	318	332
Operating income										138	110	126
Net (Loss) Income										60	50	$ 86
Current assets		177				279				177	279
Non-current assets		2,201				3,412				2,201	3,412
Current liabilities		114				809				114	809
Non-current liabilities		700				500				700	500
Redeemable Noncontrolling Interest		$ 0				$ (1)				$ 0	$ (1)

Investments Accounted for by the Equity Method and Variable Interest Entities - Narrative (Details) $ in Millions													1 Months Ended			2 Months Ended	6 Months Ended	12 Months Ended
	Dec. 21, 2020 USD ($) MW	Nov. 20, 2020 USD ($) MW	Nov. 02, 2020 USD ($) fund project MW	May 11, 2020 USD ($)	Feb. 07, 2020 USD ($)	Dec. 22, 2019 USD ($)	Nov. 26, 2019 USD ($)	Nov. 12, 2019 USD ($)	Jan. 02, 2019 USD ($)	Aug. 31, 2018 USD ($) MW	Mar. 31, 2018 USD ($)	Jun. 30, 2015 USD ($)	Jan. 31, 2021 USD ($)	Jan. 31, 2021 USD ($)	May 31, 2018 USD ($)	Mar. 31, 2020 USD ($)	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) MW	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	May 29, 2020 USD ($)	May 28, 2020 USD ($)	Dec. 27, 2019 USD ($)	Jun. 14, 2019 USD ($)	May 07, 2019 USD ($)	Mar. 08, 2019 USD ($)	Aug. 30, 2018	Mar. 30, 2018 MW
Schedule of Equity Method Investments [Line Items]
Retained earnings, undistributed earnings from equity method investees																		$ 10	$ 138
Payments to acquire equity method investments																		11	13	$ 34
Non-recourse debt																		481
Equity investments in affiliates																		741	1,183
Ownership interest acquired																												100.00%
Non-controlling interest		$ 119
Noncontrolling interest																		$ 890	413
Percentage of cash available for distributions																		95.00%
Net contributions from noncontrolling interests																		$ 247	174	91
Taxable income allocation, pre-flip					99.00%
Long-term debt																		7,043	6,858
Removed related noncontrolling interest balance				$ 8															19	52
Depreciation																		$ 420	395	$ 330
Yield Protection Agreement
Schedule of Equity Method Investments [Line Items]
Cash distribution reallocation percentage																		80.00%
Number of years after date of arrangement that reallocation of cash contributions begins																		15 years
Estimated liability under arrangement																		$ 15
DGPV Holdco 3
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW			286															113
Remaining lease term																		21 years
Income allocation percentage																					99.00%
Equity investments in affiliates																						$ (155)
Investment in consolidated entity																	$ 10
Number of tax equity funds \| fund			7
Number of solar projects \| project			172
Long-term debt																					$ 206
Removed related noncontrolling interest balance																		$ 20
DGPV Holdco 1 and 2
Schedule of Equity Method Investments [Line Items]
Adjustment to noncontrolling interest			$ 144
Long-term debt			$ 160
Lighthouse Renewable Holdco LLC
Schedule of Equity Method Investments [Line Items]
Income allocation percentage																		50.01%
Rosie TargetCo LLC
Schedule of Equity Method Investments [Line Items]
Income allocation percentage	50.00%
Repowering Partnership II LLC
Schedule of Equity Method Investments [Line Items]
Cash consideration to acquire interest joint venture				$ 70
Depreciation																			$ 54
Utah Solar Portfolio
Schedule of Equity Method Investments [Line Items]
Business acquisition, consideration transferred, working capital																		$ 106
Equity investments in affiliates																		$ 255
Percentage of cash available for distributions																		50.00%
Equity method investment, ownership percentage																		50.00%
Desert Sunlight
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments												$ 285
Business acquisition, consideration transferred, working capital												$ 171
Equity investments in affiliates																		$ 244
Equity method investment, ownership percentage																		25.00%
Agua Caliente Solar
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates																		$ 83
Equity method investment, ownership percentage																		16.00%
Elkhorn Ridge
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates																		$ 38
Equity method investment, ownership percentage																		66.70%
San Juan Mesa
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates																		$ 33
Equity method investment, ownership percentage																		75.00%
Avenal
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates																		$ (2)
Equity method investment, ownership percentage																		50.00%
Kawailoa Solar Holdings LLC
Schedule of Equity Method Investments [Line Items]
Non-controlling interest						$ 61																	$ 7
Oahu Solar, Lanikuhana
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW										15
Power purchase agreement period										22 years
Oahu Solar, Waipio
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW										46
Repowering Partnership LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage																											21.00%
Depreciation																		$ 9
Elbow TE Holdco
Schedule of Equity Method Investments [Line Items]
Cash considerations							$ 4
Wildorado TE Holdco
Schedule of Equity Method Investments [Line Items]
Income allocation percentage					5.00%
Cash considerations																$ 112
Kawailoa Partnership
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW										49
Payments to acquire businesses, gross										$ 9
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 capacity, megawatts \| MW																												154
Cash considerations											$ 42
Non-controlling interest											$ 19
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
Rosie TargetCo LLC
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW	192
Ownership interest acquired	100.00%
Payments to acquire businesses, gross	$ 23
Non-controlling interest	52
Outstanding debt at time of acquisition	$ 205
Langford Holding LLC
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW		160
Ownership interest acquired		100.00%
Payments to acquire businesses, gross		$ 64
Financial Institutions \| November 2015 Drop Down Assets
Schedule of Equity Method Investments [Line Items]
Ownership interest acquired									100.00%
Cash considerations									$ 19
Taxable income allocation, pre-flip																		99.00%
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]
Power purchase agreement period															25 years
Net contributions from noncontrolling interests															$ 80
Alta X and XI TE Holdco \| Financial Institutions
Schedule of Equity Method Investments [Line Items]
Taxable income allocation, pre-flip																		99.00%
Taxable income allocation, post-flip																		5.00%
NRG
Schedule of Equity Method Investments [Line Items]
Ownership interest acquired											100.00%
Buckthorn Renewables, LLC \| Buckthorn Solar Portfolio, LLC
Schedule of Equity Method Investments [Line Items]
Percentage of ownership											100.00%
Repowering Partnership II LLC \| CWSP Wildorado Elbow Holding LLC
Schedule of Equity Method Investments [Line Items]
Income allocation percentage																		39.86%
Repowering Partnership II LLC \| Wind TE Holdco LLC
Schedule of Equity Method Investments [Line Items]
Income allocation percentage																		60.14%
Langford Wind Project
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW		160
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
CEG \| Rosie TargetCo LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest acquired	100.00%
CEG \| Langford Holding LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest acquired		100.00%
Cash considerations		$ 55
Third Party Investor \| Langford Holding LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest acquired		100.00%
Cash considerations		$ 9
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%
Post-Flip Point \| Alta X and XI TE Holdco
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions																		97.12%
Post-Flip Point \| Spring Canyon
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions																		95.00%
Post-Flip Point \| Spring Canyon \| Financial Institutions
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions																		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%
Pre-Flip Point \| Spring Canyon
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions																		65.19%
Pre-Flip Point \| Spring Canyon \| Financial Institutions
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions																		34.81%
Wind Farms \| Spring Canyon II
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW																		32
Ownership interest acquired																		90.10%
Wind Farms \| Spring Canyon III
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW																		28
Capital Unit, Class A \| Utah Solar Portfolio
Schedule of Equity Method Investments [Line Items]
Percentage of ownership											100.00%
Capital Unit, Class B \| Financial Institutions \| Utah Solar Portfolio
Schedule of Equity Method Investments [Line Items]
Taxable income allocation, pre-flip																		99.00%
Taxable income allocation, post-flip																		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%
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
Third Party Investor \| Capital Unit, Class A \| Wildorado TE Holdco
Schedule of Equity Method Investments [Line Items]
Ownership interest acquired					100.00%
Membership interest					$ 148
Wind Global LLC \| Wind Farms
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest, ownership percentage by noncontrolling owners																		9.90%
Rosie Class B LLC \| Rosie TargetCo LLC
Schedule of Equity Method Investments [Line Items]
Percentage of ownership	100.00%
Rosie TE Holdco LLC \| Rosie Class B LLC
Schedule of Equity Method Investments [Line Items]
Percentage of ownership	100.00%
Langford Tax Equity Partnership LLC \| Langford Class B Holdco LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest		100.00%
Langford Class B Holdco LLC \| Langford Holding LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest		100.00%
Langford Wind Project \| Langford Tax Equity Partnership LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest		100.00%
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
Construction Loan
Schedule of Equity Method Investments [Line Items]
Long-term debt							93
Repowering Partnership Holdco LLC, due 2020
Schedule of Equity Method Investments [Line Items]
Repayments of debt					$ 260		$ 93
Outstanding debt at time of acquisition																								$ 352
Repowering Partnership Holdco LLC, due 2020 \| Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Debt instrument, face amount																		$ 352
Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Percentage of cash available for distributions																		5.00%
Affiliated Entity \| Clearway Renew LLC \| Oahu Solar Partnership
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest																		$ 16
Percentage of ownership																		80.00%
Subsequent Event \| Rosie TargetCo LLC
Schedule of Equity Method Investments [Line Items]
Payments to acquire businesses, gross													$ 24	$ 1

Investments Accounted for by the Equity Method and Variable Interest Entities - VIEs that are consolidated (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	$ 2,667	$ 3,029
Property, plant and equipment	7,217	6,063
Intangible assets	1,370	1,428
Total Assets	10,592	9,700
Total liabilities	7,877	$ 7,437
Oahu Solar Partnership
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	23
Property, plant and equipment	179
Intangible assets	0
Total Assets	202
Total liabilities	122
Noncontrolling interest	14
Net assets less noncontrolling interests	66
Kawailoa Partnership
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	21
Property, plant and equipment	141
Intangible assets	0
Total Assets	162
Total liabilities	111
Noncontrolling interest	31
Net assets less noncontrolling interests	20
Wildorado TE Holdco
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	14
Property, plant and equipment	240
Intangible assets	0
Total Assets	254
Total liabilities	11
Noncontrolling interest	123
Net assets less noncontrolling interests	120
Alta TE Holdco
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	56
Property, plant and equipment	356
Intangible assets	225
Total Assets	637
Total liabilities	44
Noncontrolling interest	33
Net assets less noncontrolling interests	560
Buckthorn Renewables, LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	2
Property, plant and equipment	210
Intangible assets	0
Total Assets	212
Total liabilities	9
Noncontrolling interest	58
Net assets less noncontrolling interests	145
Other
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	21
Property, plant and equipment	184
Intangible assets	1
Total Assets	206
Total liabilities	33
Noncontrolling interest	99
Net assets less noncontrolling interests	74
Lighthouse Renewable Holdco LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	48
Property, plant and equipment	444
Intangible assets	0
Total Assets	492
Total liabilities	82
Noncontrolling interest	347
Net assets less noncontrolling interests	63
Rosie TargetCo LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	40
Property, plant and equipment	258
Intangible assets	0
Total Assets	298
Total liabilities	118
Noncontrolling interest	150
Net assets less noncontrolling interests	30
Langford TE Partnership LLC
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	15
Property, plant and equipment	138
Intangible assets	2
Total Assets	155
Total liabilities	18
Noncontrolling interest	108
Net assets less noncontrolling interests	29
DGPV Funds
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets	105
Property, plant and equipment	778
Intangible assets	2
Total Assets	885
Total liabilities	77
Noncontrolling interest	4
Net assets less noncontrolling interests	$ 804

Fair Value of Financial Instruments - Balance Sheet Grouping (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Reported Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	$ 7,048	$ 6,858
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	7,020	6,957
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	1,905	1,736
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	$ 5,115	$ 5,221

Fair Value of Financial Instruments - Recurring Fair Value Measurements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			$ 1
Derivative liabilities	$ 173		92
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Change in unrealized losses included in earnings for derivatives held as of December 31,	1	$ 7	22
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other financial instruments	0	0
Total assets	1	0
Derivative liabilities	129	83
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other financial instruments	29	0
Total assets	29	0
Derivative liabilities	44	9
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	(9)	0
Total losses for the period included in earnings	0	(3)
Purchases	6	6
Ending balance	(15)	(9)	$ 0
Change in unrealized losses included in earnings for derivatives held as of December 31,	1	(3)
Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	44	9
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	44	9
Interest Rate Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1
Derivative liabilities	129	83
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	1	0
Derivative liabilities	129	83
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	0
Derivative liabilities	$ 0	$ 0

Fair Value of Financial Instruments - Significant Unobservable Inputs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) $ / MWh MWh	Dec. 31, 2019 USD ($)
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other financial instruments \| $	$ 29	$ 0
Power 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 \| $	$ (44)
Minimum \| Forecast Annual Generation Levels Of Certain DG Solar Facilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other financial instruments, measurement input \| MWh	80,872
Minimum \| Power Contracts \| Measurement Input, Commodity Forward Price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input \| $ / MWh	8.64
Maximum \| Forecast Annual Generation Levels Of Certain DG Solar Facilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other financial instruments, measurement input \| MWh	131,374
Maximum \| Power Contracts \| Measurement Input, Commodity Forward Price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input \| $ / MWh	42.37
Weighted Average \| Forecast Annual Generation Levels Of Certain DG Solar Facilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other financial instruments, measurement input \| MWh	126,063
Weighted Average \| Power Contracts \| Measurement Input, Commodity Forward Price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input \| $ / MWh	17.93

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Nature of Business [Line Items]
Fair value assets, measured on recurring basis, valuation techniques, impact of credit reserve to fair value			$ 6
Power Contracts
Nature of Business [Line Items]
Percent of financial instruments using level 3 fair value inputs	25.00%
Other Financial Instrument
Nature of Business [Line Items]
Percent of financial instruments using level 3 fair value inputs	100.00%
Fair Value, Inputs, Level 3 \| Fair Value, Measurements, Recurring
Nature of Business [Line Items]
Total losses for the period included in earnings	$ 0	$ (3)

Accounting for Derivative Instruments and Hedging Activities - Volume Buy/Sell of Company's Open Derivative Transactions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) MWh MMBTU	Dec. 31, 2019 USD ($) MWh MMBTU
Natural Gas
Derivative [Line Items]
Notional amount, energy measure \| MMBTU	1	2
Power
Derivative [Line Items]
Notional amount, energy measure \| MWh	(8)	(2)
Interest
Derivative [Line Items]
Notional amount \| $	$ 1,600	$ 1,788

Accounting for Derivative Instruments and Hedging Activities - FV of Derivatives (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2018
Derivative [Line Items]
Derivative assets		$ 1
Derivative liabilities	$ 173	92
Derivatives Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		0
Derivative liabilities	23	14
Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		1
Derivative liabilities	150	78
Interest rate contracts current \| Derivatives Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		0
Derivative liabilities	8	3
Interest rate contracts current \| Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		0
Derivative liabilities	25	13
Interest rate contracts long-term \| Derivatives Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		0
Derivative liabilities	15	11
Interest rate contracts long-term \| Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		1
Derivative liabilities	81	56
Commodity contracts current \| Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		0
Derivative liabilities	5	0
Commodity contracts long-term \| Derivatives Not Designated as Cash Flow Hedges:
Derivative [Line Items]
Derivative assets		0
Derivative liabilities	$ 39	$ 9

Accounting for Derivative Instruments and Hedging Activities - Offsetting Derivatives by Counterparty Master Agreement Level (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative liabilities, gross	$ (173)		$ (92)
Derivative assets, gross			$ 1
Fair value of gross derivative assets/(liabilities), net	(172)	$ (92)
Derivative instruments	0	0
Net amount	(172)	(92)
Commodity contracts
Derivative [Line Items]
Derivative liabilities, gross	(44)	(9)
Derivative instruments, liabilities	0	(1)
Derivative liability	44	10
Fair value of gross derivative assets/(liabilities), net	(44)	(9)
Derivative instruments	0	(1)
Net amount	(44)	(10)
Interest Rate Contract
Derivative [Line Items]
Derivative liabilities, gross	(129)	(83)
Derivative instruments, liabilities	0	1
Derivative liability	129	82
Derivative assets, gross	1
Derivative instruments, assets	0
Fair value of gross derivative assets/(liabilities), net	(128)	(83)
Derivative instruments	0	1
Net amount	1
Net amount	$ (128)	$ (82)

Accounting for Derivative Instruments and Hedging Activities - AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Beginning balance	$ 2,263	$ 2,224	$ 2,159
Mark-to-market of cash flow hedge accounting contracts	1	7	22
Ending balance	2,715	2,263	2,224
Accumulated other comprehensive loss	(14)	(15)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $4	(9)
Accumulated OCL ending balance, income tax benefit	5	6	7
Losses expected to be realized from OCL during the next 12 months, income tax benefit	4
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Beginning balance	(31)	(38)	(60)
Ending balance	(30)	(31)	(38)
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Reclassified from accumulated OCL to income due to realization of previously deferred amounts	8	16	14
Mark-to-market of cash flow hedge accounting contracts	(7)	(9)	8
Non-controlling Interest
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Beginning balance	413	402	412
Ending balance	890	413	402
Accumulated other comprehensive loss	(16)	(16)	(20)
AOCI Attributable to Parent
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Beginning balance	(15)	(18)	(28)
Ending balance	(14)	(15)	(18)
Accumulated other comprehensive loss	$ (14)	$ (15)	$ (18)

Accounting for Derivative Instruments and Hedging Activities - Impact of Statement of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on derivatives, net of tax	$ 1	$ 7	$ 22
Interest Rate Contract \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on derivatives, net of tax	(38)	(65)	$ 15
Power Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, loss on derivative	$ 4	$ 9

Intangible Assets - Components Subject to Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	$ 1,857	$ 1,822	$ 1,464
Acquisition of Carlsbad		358
Net carrying amount ending balance	1,857	1,822	1,464
Less accumulated amortization	(487)	(394)
Ending balance	1,370	1,428
Consolidation of DGPV Holdco Entities
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	23
Other
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	12
PPAs
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	1,661	1,630	1,280
Acquisition of Carlsbad		350
Net carrying amount ending balance	1,661	1,630	1,280
Less accumulated amortization	(431)	(347)
Ending balance	1,230	1,283
PPAs \| Consolidation of DGPV Holdco Entities
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	23
PPAs \| Other
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	8
Leasehold Rights
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	86	86	86
Acquisition of Carlsbad		0
Net carrying amount ending balance	86	86	86
Less accumulated amortization	(26)	(22)
Ending balance	60	64
Leasehold Rights \| Consolidation of DGPV Holdco Entities
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	0
Leasehold Rights \| Other
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	0
Customer Relationships
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	66	66	66
Acquisition of Carlsbad		0
Net carrying amount ending balance	66	66	66
Less accumulated amortization	(11)	(9)
Ending balance	55	57
Customer Relationships \| Consolidation of DGPV Holdco Entities
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	0
Customer Relationships \| Other
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	0
Customer Contracts
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	15	15	15
Acquisition of Carlsbad		0
Net carrying amount ending balance	15	15	15
Less accumulated amortization	(11)	(10)
Ending balance	4	5
Customer Contracts \| Consolidation of DGPV Holdco Entities
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	0
Customer Contracts \| Other
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	0
Emission Allowances
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	17	17	9
Acquisition of Carlsbad		8
Net carrying amount ending balance	17	17	9
Less accumulated amortization	(3)	(2)
Ending balance	14	15
Emission Allowances \| Consolidation of DGPV Holdco Entities
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	0
Emission Allowances \| Other
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	0
Other Intangible Assets
Finite-lived Intangible Assets [Roll Forward]
Net carrying amount beginning balance	12	8	8
Acquisition of Carlsbad		0
Net carrying amount ending balance	12	8	$ 8
Less accumulated amortization	(5)	(4)
Ending balance	7	$ 4
Other Intangible Assets \| Consolidation of DGPV Holdco Entities
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	0
Other Intangible Assets \| Other
Finite-lived Intangible Assets [Roll Forward]
Acquisition of Carlsbad	$ 4

Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 91	$ 73	$ 71
Contract amortization expense	88	$ 72	$ 70
2021	91
2022	91
2023	88
2024	85
2025	$ 84

Asset Impairments (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
Asset Impairments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses				$ 24	$ 33	$ 0
Other-than-temporary impairment loss on investment				8	$ 0	$ 0
Property, Plant and Equipment
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses				$ 24
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
Other-than-temporary impairment loss on investment	$ 8

Long-term Debt - Short and Long-term Borrowings (Details) - USD ($)				12 Months Ended
	Dec. 23, 2019	Jun. 14, 2019	Apr. 29, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 06, 2019	Nov. 13, 2019	May 01, 2019	May 31, 2018
Debt Instrument [Line Items]
Outstanding aggregate principal amount				$ 7,043,000,000	$ 6,858,000,000
Less current maturities				(384,000,000)	(1,824,000,000)
Less net debt issuance costs				(79,000,000)	(78,000,000)
Less discounts				(5,000,000)	0
Total long-term debt				6,585,000,000	4,956,000,000
Basis spread on variable rate	1.375%
3.25% Convertible Notes due 2020
Debt Instrument [Line Items]
Senior Notes				$ 0	45,000,000
Outstanding aggregate principal amount					45,000,000
Interest rate, percentage				3.25%
5.375% Senior Notes due in 2024
Debt Instrument [Line Items]
Long-term debt				$ 0	88,000,000
Interest rate, percentage				5.375%
5.75% Senior Notes due 2025
Debt Instrument [Line Items]
Long-term debt				$ 600,000,000	600,000,000
Interest rate, percentage				5.75%
5.00% Senior Notes due in 2026
Debt Instrument [Line Items]
Long-term debt				$ 350,000,000	350,000,000
Interest rate, percentage				5.00%
4.75% Senior Notes due 2028
Debt Instrument [Line Items]
Long-term debt				$ 850,000,000	600,000,000
Interest rate, percentage				4.75%
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.50%
Alpine Financing Agreement, due 2022
Debt Instrument [Line Items]
Long-term debt				$ 0	119,000,000
Alpine Financing Agreement, due 2022 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				2.00%
Alta Wind I-V, lease financing arrangement, due 2034 and 2035
Debt Instrument [Line Items]
Long-term debt				$ 800,000,000	844,000,000
Buckthorn Solar, due 2025
Debt Instrument [Line Items]
Outstanding aggregate principal amount									$ 132,000,000
Long-term debt				$ 126,000,000	129,000,000
Buckthorn Solar, due 2025 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.75%
Carlsbad Holdco, due 2038
Debt Instrument [Line Items]
Long-term debt				$ 210,000,000	216,000,000
Interest rate, percentage				4.21%
Carlsbad Energy Holdings LLC, due 2027 and 2038 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.625%
CVSR, due 2037
Debt Instrument [Line Items]
Long-term debt				$ 675,000,000	696,000,000
CVSR Holdco due 2037
Debt Instrument [Line Items]
Long-term debt				$ 176,000,000	182,000,000
Interest rate, percentage				4.68%
Duquesne Due 2059
Debt Instrument [Line Items]
Outstanding aggregate principal amount								$ 95,000,000
Long-term debt				$ 95,000,000	95,000,000
Interest rate, percentage				4.62%				4.62%
El Segundo Energy Center, due 2023
Debt Instrument [Line Items]
Long-term debt				$ 250,000,000	303,000,000
Energy Center Minneapolis Series D, E, F, G, H Notes
Debt Instrument [Line Items]
Long-term debt				327,000,000	328,000,000
Laredo Ridge Wind, LLC, due in 2028
Debt Instrument [Line Items]
Long-term debt				$ 78,000,000	84,000,000
Laredo Ridge Wind, LLC, due in 2028 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				2.125%
Kawailoa Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Long-term debt				$ 81,000,000	82,000,000
Kawailoa Solar Holdings LLC, due 2026 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.375%
Marsh Landing Term Loan Facility
Debt Instrument [Line Items]
Long-term debt				$ 146,000,000	206,000,000
Marsh Landing Term Loan Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				2.125%
NIMH Solar, due 2024 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				2.00%
Oahu Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Outstanding aggregate principal amount							$ 90,000,000
Long-term debt				$ 89,000,000	91,000,000
Oahu Solar Holdings LLC, due 2026 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.375%
Repowering Partnership Holdco LLC, due 2020
Debt Instrument [Line Items]
Long-term debt				$ 0	228,000,000
Repowering Partnership Holdco LLC, due 2020 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				0.0085%
South Trent Wind Due 2028
Debt Instrument [Line Items]
Outstanding aggregate principal amount		$ 46,000,000
Basis spread on variable rate		1.35%
Tapestry Wind LLC due in 2031
Debt Instrument [Line Items]
Outstanding aggregate principal amount			$ 164,000,000
Long-term debt				$ 143,000,000	156,000,000
Basis spread on variable rate			1.375%
Tapestry Wind LLC due in 2031 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.375%
Utah Solar Holdings, due 2036
Debt Instrument [Line Items]
Long-term debt				$ 290,000,000	0
Interest rate, percentage				3.59%
Utah Solar Portfolio, due 2022
Debt Instrument [Line Items]
Long-term debt				$ 0	254,000,000
Utah Solar Portfolio, due 2022 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.625%
Walnut Creek Energy, LLC, due in 2023
Debt Instrument [Line Items]
Long-term debt				$ 126,000,000	175,000,000
Walnut Creek Energy, LLC, due in 2023 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.75%
Other Debt
Debt Instrument [Line Items]
Long-term debt				$ 199,000,000	264,000,000
Project Level Debt
Debt Instrument [Line Items]
Outstanding aggregate principal amount				5,243,000,000	5,175,000,000
Blythe
Debt Instrument [Line Items]
Long-term debt					14,000,000
Roadrunner
Debt Instrument [Line Items]
Long-term debt					28,000,000
Carlsbad Energy Holdings LLC, due 2027
Debt Instrument [Line Items]
Outstanding aggregate principal amount						$ 194,000,000
Alta Realty Investments, LLC due 2031
Debt Instrument [Line Items]
Long-term debt				$ 25,000,000	27,000,000
Interest rate, percentage				700.00%
Borrego, due 2034 and 2035
Debt Instrument [Line Items]
Long-term debt				$ 57,000,000	60,000,000
Carlsbad Energy Holdings, 2027
Debt Instrument [Line Items]
Long-term debt				156,000,000	175,000,000
Carlsbad Energy Holdings LLC, due 2038
Debt Instrument [Line Items]
Long-term debt				$ 407,000,000	407,000,000
Interest rate, percentage				412.00%
DG-CS Master Borrower LLC, 2040
Debt Instrument [Line Items]
Long-term debt				$ 467,000,000	0
Interest rate, percentage				3.51%
NIMH Solar, 2024
Debt Instrument [Line Items]
Long-term debt				$ 191,000,000	0
Rosie Class B LLC 2027
Debt Instrument [Line Items]
Long-term debt				$ 80,000,000	0
Rosie Class B LLC 2027 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.75%
WCEP Holdings, LLC due 2023
Debt Instrument [Line Items]
Long-term debt				$ 35,000,000	39,000,000
WCEP Holdings, LLC due 2023 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				3.00%
Alta Wind Asset Management LLC
Debt Instrument [Line Items]
Long-term debt				$ 14,000,000	15,000,000
Alta Wind Asset Management LLC \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				2.50%
Letter of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt				$ 0	$ 0
Letters of credit outstanding				66,000,000
Letter of Credit \| Alpine Financing Agreement, due 2022
Debt Instrument [Line Items]
Letters of credit outstanding				0
Letter of Credit \| Alta Wind I-V, lease financing arrangement, due 2034 and 2035
Debt Instrument [Line Items]
Letters of credit outstanding				44,000,000
Letter of Credit \| Buckthorn Solar, due 2025
Debt Instrument [Line Items]
Letters of credit outstanding				22,000,000
Letter of Credit \| Carlsbad Holdco, due 2038
Debt Instrument [Line Items]
Letters of credit outstanding				4,000,000
Letter of Credit \| CVSR, due 2037
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]
Letters of credit outstanding				0
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
Debt Instrument [Line Items]
Letters of credit outstanding				0
Letter of Credit \| Laredo Ridge Wind, LLC, due in 2028
Debt Instrument [Line Items]
Letters of credit outstanding				10,000,000
Letter of Credit \| Kawailoa Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Letters of credit outstanding				14,000,000
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				10,000,000
Letter of Credit \| Repowering Partnership Holdco LLC, due 2020
Debt Instrument [Line Items]
Letters of credit outstanding				0
Letter of Credit \| Tapestry Wind LLC due in 2031
Debt Instrument [Line Items]
Letters of credit outstanding				17,000,000
Letter of Credit \| Utah Solar Holdings, due 2036
Debt Instrument [Line Items]
Letters of credit outstanding				11,000,000
Letter of Credit \| Utah Solar Portfolio, due 2022
Debt Instrument [Line Items]
Letters of credit outstanding				0
Letter of Credit \| Walnut Creek Energy, LLC, due in 2023
Debt Instrument [Line Items]
Letters of credit outstanding				73,000,000
Letter of Credit \| Other Debt
Debt Instrument [Line Items]
Letters of credit outstanding				50,000,000
Letter of Credit \| Alta Realty Investments, LLC due 2031
Debt Instrument [Line Items]
Letters of credit outstanding				0
Letter of Credit \| Borrego, due 2034 and 2035
Debt Instrument [Line Items]
Letters of credit outstanding				4,000,000
Letter of Credit \| Carlsbad Energy Holdings, 2027
Debt Instrument [Line Items]
Letters of credit outstanding				63,000,000
Letter of Credit \| Carlsbad Energy Holdings LLC, due 2038
Debt Instrument [Line Items]
Letters of credit outstanding				0
Letter of Credit \| DG-CS Master Borrower LLC, 2040
Debt Instrument [Line Items]
Letters of credit outstanding				30,000,000
Letter of Credit \| NIMH Solar, 2024
Debt Instrument [Line Items]
Letters of credit outstanding				11,000,000
Letter of Credit \| Rosie Class B LLC 2027
Debt Instrument [Line Items]
Letters of credit outstanding				19,000,000
Letter of Credit \| WCEP Holdings, LLC due 2023
Debt Instrument [Line Items]
Letters of credit outstanding				0
Letter of Credit \| Alta Wind Asset Management LLC
Debt Instrument [Line Items]
Letters of credit outstanding				$ 0
Minimum \| Alta Wind I-V, lease financing arrangement, due 2034 and 2035
Debt Instrument [Line Items]
Interest rate, percentage				7.015%
Minimum \| CVSR, due 2037
Debt Instrument [Line Items]
Basis spread on variable rate				3.775%
Minimum \| El Segundo Energy Center, due 2023 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.875%
Maximum \| Alta Wind I-V, lease financing arrangement, due 2034 and 2035
Debt Instrument [Line Items]
Interest rate, percentage				5.696%
Maximum \| CVSR, due 2037
Debt Instrument [Line Items]
Basis spread on variable rate				2.339%
Maximum \| El Segundo Energy Center, due 2023 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				2.50%

Long-term Debt - Credit Facility and Notes (Details)				1 Months Ended	12 Months Ended
Long-term Debt - Credit Facility and Notes (Details)	Jun. 01, 2020 USD ($)	May 21, 2020 USD ($)	Jan. 03, 2020 USD ($)	Jan. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Feb. 26, 2021 USD ($)	Dec. 11, 2019 USD ($)	Feb. 01, 2019 USD ($)
Debt Instrument [Line Items]
Proceeds from the revolving credit facility					$ 265,000,000	$ 152,000,000	$ 35,000,000
Payments for the revolving credit facility					265,000,000	152,000,000	90,000,000
Long-term debt					7,043,000,000	6,858,000,000
Loss on debt extinguishment					$ (24,000,000)	(16,000,000)	(7,000,000)
Revolving Credit Facility
Debt Instrument [Line Items]
Increase in leverage ratio					0.50
Outstanding borrowings					$ 0
Revolving Credit Facility \| Subsequent Event
Debt Instrument [Line Items]
Outstanding borrowings								$ 195,000,000
Revolving Credit Facility \| Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding					66,000,000
Revolving Credit Facility \| Letter of Credit \| Subsequent Event
Debt Instrument [Line Items]
Letters of credit outstanding								$ 70,000,000
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility
Debt Instrument [Line Items]
Proceeds from the revolving credit facility					265,000,000
Payments for the revolving credit facility					$ 265,000,000
4.75% Senior Notes due in 2028
Debt Instrument [Line Items]
Due to affiliate, noncurrent									$ 600,000,000
4.75% Senior Notes due in 2028 \| Notes Payable, Other Payables
Debt Instrument [Line Items]
Interest rate, percentage		4.75%
Debt instrument, redemption price, percentage		102.00%
Repayment of debt	$ 45,000,000
Debt instrument, repurchased face amount		$ 250,000,000
3.25% Convertible Notes due 2020
Debt Instrument [Line Items]
Interest rate, percentage					3.25%
Long-term debt						$ 45,000,000
5.375% Senior Notes due in 2024
Debt Instrument [Line Items]
Interest rate, percentage					5.375%
Debt instrument, redemption price, percentage					103.00%
Debt instrument, repurchased face amount					$ 412,000,000
Debt instrument, repurchase amount					424,000,000
Loss on debt extinguishment					$ 12,000,000
Percent of face value					82.40%
Loss on extinguishment of deferred financing fees					$ 2,000,000
5.375% Senior Notes due in 2024 \| Notes Payable, Other Payables
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage			102.70%
Debt instrument, repurchased face amount			$ 88,000,000
Debt instrument, repurchase amount			90,000,000
Loss on debt extinguishment			$ 3,000,000
3.5% Convertible Notes due 2019
Debt Instrument [Line Items]
Repayment of debt				$ 50,000,000			$ 125,000,000
Long-term debt										$ 170,000,000

Long-term Debt - Project level Debt (Details) - USD ($)													1 Months Ended	3 Months Ended	12 Months Ended
Long-term Debt - Project level Debt (Details) - USD ($)	Nov. 02, 2020	Sep. 30, 2020	Sep. 01, 2020	Feb. 07, 2020	Dec. 23, 2019	Dec. 20, 2019	Dec. 06, 2019	Nov. 26, 2019	Nov. 13, 2019	Oct. 21, 2019	Jun. 14, 2019	Apr. 29, 2019	Oct. 31, 2019	Dec. 31, 2020	Dec. 31, 2023	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 21, 2020	May 07, 2019	May 01, 2019	Mar. 08, 2019
Debt Instrument [Line Items]
Basis spread on variable rate					1.375%
Proceeds from the revolving credit facility																$ 265,000,000	$ 152,000,000	$ 35,000,000
Long-term debt														$ 7,043,000,000		7,043,000,000	6,858,000,000
Non-recourse debt														481,000,000		481,000,000
Payments for long-term debt																$ 1,527,000,000	1,484,000,000	$ 810,000,000
Carlsbad Drop Down
Debt Instrument [Line Items]
Long-term debt							$ 803,000,000
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
DG-CS Master Borrower LLC
Debt Instrument [Line Items]
Derivative liabilities	$ 42,000,000
Repowering Partnership Holdco LLC, due 2020
Debt Instrument [Line Items]
Outstanding debt at time of acquisition											$ 352,000,000
Aggregate principal amount repurchased				$ 260,000,000				$ 93,000,000
Repowering Partnership Holdco LLC, due 2020 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate																0.0085%
Repowering Partnership Holdco LLC, due 2020 \| Loans Payable
Debt Instrument [Line Items]
Repayments of related party debt											$ 109,000,000
Repowering Partnership Holdco LLC, due 2020 \| Loans Payable \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate											0.85%
CS4 Borrower \| Construction Loans \| Renew CS4 Borrower LLC
Debt Instrument [Line Items]
Debt instrument, face amount														97,000,000		$ 97,000,000
CS4 Borrower \| Bridge Loan \| Renew CS4 Borrower LLC
Debt Instrument [Line Items]
Debt instrument, face amount														90,000,000		90,000,000
CS4 Borrower \| Letter of Credit \| Renew CS4 Borrower LLC
Debt Instrument [Line Items]
Debt instrument, face amount														$ 5,000,000		5,000,000
CS4 Borrower \| London Interbank Offered Rate (LIBOR) \| Renew CS4 Borrower LLC
Debt Instrument [Line Items]
Basis spread on variable rate														2.00%
Chestnut Borrower Credit Agreement \| Letter of Credit \| Chestnut Borrower, LLC
Debt Instrument [Line Items]
Debt instrument, face amount														$ 8,000,000		8,000,000
Chestnut Borrower Credit Agreement \| Loans Payable \| Chestnut Borrower, LLC
Debt Instrument [Line Items]
Debt instrument, face amount														$ 120,000,000		$ 120,000,000
DG-CS Master Borrower LLC Financing Arrangement \| DG-CS Master Borrower LLC
Debt Instrument [Line Items]
Interest rate, percentage	3.51%
DG-CS Master Borrower LLC Financing Arrangement \| Letter of Credit \| DG-CS Master Borrower LLC
Debt Instrument [Line Items]
Proceeds from the revolving credit facility	$ 30,000,000
DG-CS Master Borrower LLC Financing Arrangement \| Loans Payable \| DG-CS Master Borrower LLC
Debt Instrument [Line Items]
Proceeds from the revolving credit facility	467,000,000
Chestnut Borrower, LLC
Debt Instrument [Line Items]
Aggregate principal amount repurchased	107,000,000
Renew Solar CS 4 Borrower LLC
Debt Instrument [Line Items]
Aggregate principal amount repurchased	102,000,000
DGPV 4 Borrower LLC
Debt Instrument [Line Items]
Aggregate principal amount repurchased	92,000,000
Puma Class B LLC
Debt Instrument [Line Items]
Aggregate principal amount repurchased	$ 73,000,000
Utah Solar Holdings, due 2036
Debt Instrument [Line Items]
Interest rate, percentage														3.59%		3.59%
Utah Solar Holdings, due 2036 \| Letter of Credit \| Utah Solar Holdings, LLC
Debt Instrument [Line Items]
Proceeds from the revolving credit facility			$ 16,000,000
Utah Solar Holdings, due 2036 \| Notes Payable, Other Payables \| Utah Solar Holdings, LLC
Debt Instrument [Line Items]
Aggregate principal amount repurchased			$ 247,000,000
Interest rate, percentage			3.59%
Proceeds from the revolving credit facility			$ 296,000,000
Derivative liabilities			33,000,000
Utah Solar Holdings, due 2036 \| Notes Payable, Other Payables \| Utah Solar Holdings, LLC \| Clearway Energy Operating LLC \| Affiliated Entity
Debt Instrument [Line Items]
Decrease from distributions to noncontrolling interest holders			$ 9,000,000
NIMH Solar LLC Financing Arrangement \| Letter of Credit \| NIMH Solar LLC
Debt Instrument [Line Items]
Proceeds from the revolving credit facility		$ 16,000,000
NIMH Solar LLC Financing Arrangement \| Loans Payable \| Clearway Energy Operating LLC \| Affiliated Entity
Debt Instrument [Line Items]
Decrease from distributions to noncontrolling interest holders		45,000,000
NIMH Solar LLC Financing Arrangement \| Loans Payable \| NIMH Solar LLC
Debt Instrument [Line Items]
Proceeds from the revolving credit facility		193,000,000
NIMH Solar LLC Financing Arrangement \| London Interbank Offered Rate (LIBOR) \| Loans Payable \| Through Third Party Anniversary of Closing
Debt Instrument [Line Items]
Interest rate, percentage														2.00%		2.00%
NIMH Solar LLC Financing Arrangement \| London Interbank Offered Rate (LIBOR) \| Loans Payable \| After Third Party Anniversary of Closing
Debt Instrument [Line Items]
Interest rate, percentage														2.125%		2.125%
Project Level Debt
Debt Instrument [Line Items]
Long-term debt														$ 5,243,000,000		$ 5,243,000,000	$ 5,175,000,000
Project Level Debt \| Loans Payable \| Alpine
Debt Instrument [Line Items]
Aggregate principal amount repurchased		158,000,000
Project Level Debt \| Loans Payable \| Blythe
Debt Instrument [Line Items]
Aggregate principal amount repurchased		158,000,000
Project Level Debt \| Loans Payable \| Roadrunner
Debt Instrument [Line Items]
Aggregate principal amount repurchased		$ 158,000,000
Carlsbad Energy Holdings LLC, due 2027
Debt Instrument [Line Items]
Bridge credit agreement, borrowing amount							$ 4,000,000							$ 83,000,000		$ 83,000,000
Outstanding notional amount							0.50%
Long-term debt							$ 194,000,000
Carlsbad Energy Holdings LLC, due 2027 \| Maturity - February 25, 2025
Debt Instrument [Line Items]
Basis spread on variable rate							1.625%
Carlsbad Energy Holdings LLC, due 2027 \| Maturity - October 31, 2038
Debt Instrument [Line Items]
Basis spread on variable rate							1.875%
Carlsbad Energy Holdings LLC, due 2027 \| Carlsbad Drop Down
Debt Instrument [Line Items]
Long-term debt							$ 407,000,000
Agua Caliente Solar
Debt Instrument [Line Items]
Aggregate principal amount repurchased										$ 40,000,000
Duquesne Due 2059
Debt Instrument [Line Items]
Interest rate, percentage														4.62%		4.62%					4.62%
Long-term debt																					$ 95,000,000
Oahu Solar
Debt Instrument [Line Items]
Outstanding debt at time of acquisition									$ 162,000,000
Basis spread on variable rate									1.375%
Long-term debt																					$ 143,000,000
Oahu Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Aggregate principal amount repurchased													$ 67,000,000
Long-term debt									$ 90,000,000
Oahu Solar Holdings LLC, due 2026 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate																1.375%
Kawailoa Solar Holdings LLC Debt
Debt Instrument [Line Items]
Outstanding debt at time of acquisition					$ 137,000,000
Non-recourse debt					120,000,000
Kawailoa Solar Holdings LLC Debt \| Kawailoa Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Long-term debt					82,000,000
Kawailoa Solar Holdings LLC, due 2026
Debt Instrument [Line Items]
Aggregate principal amount repurchased					$ 57,000,000
Kawailoa Solar Holdings LLC, due 2026 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate																1.375%
South Trent Wind Due 2028
Debt Instrument [Line Items]
Basis spread on variable rate											1.35%
Long-term debt											$ 46,000,000
Tapestry Wind LLC due in 2021
Debt Instrument [Line Items]
Basis spread on variable rate												1.75%
Long-term debt												$ 147,000,000
Tapestry Wind LLC due in 2031
Debt Instrument [Line Items]
Basis spread on variable rate												1.375%
Long-term debt												$ 164,000,000
Tapestry Wind LLC due in 2031 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate																1.375%
Carlsbad Energy Holdings LLC, due 2038
Debt Instrument [Line Items]
Interest rate, percentage														412.00%		412.00%
Bridge credit agreement, borrowing amount							$ 803,000,000
Carlsbad Energy Holdings LLC, due 2038 \| Carlsbad Drop Down
Debt Instrument [Line Items]
Interest rate, percentage							4.21%
Debt instrument, convertible, remaining discount amortization period							19 years
Bridge credit agreement, borrowing amount							$ 10,000,000
Outstanding notional amount							0.65%
4.12% Senior Notes due 2038
Debt Instrument [Line Items]
Interest rate, percentage							4.12%
South Trent Holding LLC
Debt Instrument [Line Items]
Basis spread on variable rate											1.625%
Long-term debt											$ 49,000,000
Rosie Class B LLC 2027
Debt Instrument [Line Items]
Debt instrument, face amount														$ 80,000,000		$ 80,000,000
Rosie Class B LLC 2027 \| Letter of Credit
Debt Instrument [Line Items]
Bridge credit agreement, borrowing amount														$ 23,000,000		$ 23,000,000
Rosie Class B LLC 2027 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate																1.75%
Rosie Class B LLC 2027 \| London Interbank Offered Rate (LIBOR) \| Forecast
Debt Instrument [Line Items]
Basis spread on variable rate															2.00%
Rosie TargetCo LLC Construction Loan \| Construction Loans
Debt Instrument [Line Items]
Bridge credit agreement, borrowing amount																			$ 91,000,000
Rosie TargetCo LLC Construction Loan \| Bridge Loan
Debt Instrument [Line Items]
Bridge credit agreement, borrowing amount																			24,000,000
Rosie TargetCo LLC Construction Loan \| Investment Tax Credit Loan
Debt Instrument [Line Items]
Bridge credit agreement, borrowing amount																			$ 132,000,000
Payments for long-term debt						$ 130,000,000

Long-term Debt - Interest Rate Swaps (Details) - Interest Rate Swap $ in Millions	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Notional amount	$ 1,600
Avra Valley \| Maturity - November 30, 2030
Debt Instrument [Line Items]
Percentage of principal	87.00%
Fixed interest rate	2.33%
Notional amount	$ 38
AWAM \| Maturity - May 15, 2031
Debt Instrument [Line Items]
Percentage of principal	100.00%
Fixed interest rate	2.47%
Notional amount	$ 14
Borrego \| Maturity - December 31, 2024
Debt Instrument [Line Items]
Percentage of principal	100.00%
Fixed interest rate	0.476%
Notional amount	$ 13
Buckthorn Solar \| Maturity - December 31, 2041
Debt Instrument [Line Items]
Percentage of principal	82.00%
Notional amount	$ 103
El Segundo
Debt Instrument [Line Items]
Percentage of principal	100.00%
Notional amount	$ 250
Kansas South \| Maturity - December 31, 2030
Debt Instrument [Line Items]
Percentage of principal	75.00%
Fixed interest rate	2.368%
Notional amount	$ 17
Laredo Ridge \| Maturity - December 21, 2028
Debt Instrument [Line Items]
Percentage of principal	100.00%
Notional amount	$ 78
Marsh Landing \| Maturity - June 30, 2023
Debt Instrument [Line Items]
Percentage of principal	100.00%
Notional amount	$ 146
NIMH Solar LLC
Debt Instrument [Line Items]
Percentage of principal	100.00%
Notional amount	$ 191
Oahu Solar \| Maturity - October 31, 2040
Debt Instrument [Line Items]
Percentage of principal	96.00%
Notional amount	$ 86
South Trent \| Maturity - June 30, 2028
Debt Instrument [Line Items]
Percentage of principal	90.00%
Fixed interest rate	3.847%
Notional amount	$ 35
Tapestry
Debt Instrument [Line Items]
Percentage of principal	75.00%
Notional amount	$ 107
Tapestry \| Maturity - December 21, 2029
Debt Instrument [Line Items]
Percentage of principal	50.00%
Fixed interest rate	3.57%
Notional amount	$ 12
Walnut Creek \| Maturity - May 31, 2023
Debt Instrument [Line Items]
Percentage of principal	90.00%
Fixed interest rate	3.543%
Notional amount	$ 114
WCEP Holdings \| Maturity - May 31, 2023
Debt Instrument [Line Items]
Percentage of principal	100.00%
Fixed interest rate	4.003%
Notional amount	$ 34
Carlsbad Drop Down \| Maturity - September 30, 2027
Debt Instrument [Line Items]
Percentage of principal	100.00%
Notional amount	$ 156
Kawailoa Solar Holdings LLC Debt \| Maturity - October 31, 2040
Debt Instrument [Line Items]
Percentage of principal	94.00%
Notional amount	$ 76
Rosie Class B LLC 2027 \| Maturity - July 29, 2044
Debt Instrument [Line Items]
Percentage of principal	95.00%
Fixed interest rate	1.446%
Notional amount	$ 76
Viento Funding II
Debt Instrument [Line Items]
Percentage of principal	100.00%
Fixed interest rate	3.03%
Notional amount	$ 33
Viento Funding II \| Maturity - June 30, 2028
Debt Instrument [Line Items]
Percentage of principal	100.00%
Fixed interest rate	4.985%
Notional amount	$ 21

Long-term Debt - Annual Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 384
2022	407
2023	431
2024	359
2025	934
Thereafter	4,528
Total	$ 7,043	$ 6,858

Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) attributable to Clearway Energy, Inc.	$ (25)	$ 32	$ 47	$ (29)	$ (6)	$ 39	$ (24)	$ (20)
(Loss) Earnings per weighted average common share - basic and diluted (in dollars per share)									$ 0.22	$ (0.10)	$ 0.46
Common Class A
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) attributable to Clearway Energy, Inc.									$ 7	$ (4)	$ 16
Weighted average number of shares outstanding - basic (in shares)					35	35	35	35	35	35	35
Weighted average number of common shares outstanding - diluted (in shares)					35	35	35	35	35	35	35
(Loss) Earnings per weighted average common share - basic and diluted (in dollars per share)									$ 0.22	$ (0.10)	$ 0.46
Common Class C
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) attributable to Clearway Energy, Inc.									$ 18	$ (7)	$ 32
Weighted average number of shares outstanding - basic (in shares)					75	73	73	73	80	74	69
Weighted average number of common shares outstanding - diluted (in shares)					75	75	73	73	81	74	69
(Loss) Earnings per weighted average common share - basic and diluted (in dollars per share)	$ (0.20)	$ 0.27	$ 0.41	$ (0.26)	$ (60,000.00)	$ 360,000	$ (220,000)	$ (180,000)	$ 0.22	$ (0.10)	$ 0.46
3.5% Convertible Notes due 2019 \| Common Class A
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive equity instruments (in shares)									0	0	9
3.25% Convertible Notes due 2020 \| Common Class C
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive equity instruments (in shares)									0	2	8

Stockholders' Equity (Details) - USD ($)					3 Months Ended				12 Months Ended			47 Months Ended
Stockholders' Equity (Details) - USD ($)	Mar. 15, 2021	Feb. 12, 2021	Dec. 02, 2019	Sep. 27, 2018	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2020	Aug. 06, 2020	Aug. 09, 2016
Class of Stock
Shares of common stock sold			5,405,405	3,916,449					2,690,455
Proceeds from issuance or sale of equity			$ 100,000,000	$ 75,000,000					$ 63,000,000
Commission fees									600,000
Available for issuance under ATM program					$ 126,000,000				$ 126,000,000
Shares of stock acquired (in shares)									2,690,455
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
Subsequent Event
Class of Stock
Quarterly dividend, date declared		Feb. 12, 2021
Dividends payable, date to be paid	Mar. 15, 2021
Common Class A
Class of Stock
Dividends per common share (in usd per share)					0.3180	$ 0.3125	$ 0.2100	$ 0.2100	1.05	0.80	$ 1.258
Common Class A \| Subsequent Event
Class of Stock
Quarterly dividend, declared (in usd per share)		$ 0.324
Common Class C
Class of Stock
Dividends per common share (in usd per share)					$ 0.3180	$ 0.3125	$ 0.2100	$ 0.2100	$ 1.05	$ 0.80	$ 1.258
Common Class C \| Subsequent Event
Class of Stock
Quarterly dividend, declared (in usd per share)		0.324
Clearway Energy LLC \| Common Class B \| Subsequent Event
Class of Stock
Quarterly dividend, declared (in usd per share)		0.324
Clearway Energy LLC \| Common Class D \| Subsequent Event
Class of Stock
Quarterly dividend, declared (in usd per share)		$ 0.324
2016 ATM Program
Class of Stock
Shares of common stock sold									1,749,665
Proceeds from issuance or sale of equity									$ 39,000,000			$ 150,000,000
Aggregate sales price													$ 150,000,000
2020 ATM Program
Class of Stock
Shares of common stock sold									940,790
Proceeds from issuance or sale of equity									$ 24,000,000
Aggregate sales price														$ 150,000,000
Clearway Energy LLC
Class of Stock
Company ownership, percentage									57.61%
Clearway Energy LLC \| CEG
Class of Stock
Company ownership, percentage									42.39%

Segment Reporting (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
Segment Reporting (Details) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting
Total operating revenues	$ 280	$ 332	$ 329	$ 258	$ 235	$ 296	$ 284	$ 217	$ 1,199	$ 1,032	$ 1,053
Cost of operations									366	337	327
Depreciation, amortization and accretion									428	401	336
Impairment losses									24	33	0
General and administrative									34	29	20
Transaction and integration costs									9	3	20
Development costs									5	5	3
Operating Income	28	123	130	52	6	90	87	41	333	224	347
Equity in earnings (losses) of unconsolidated affiliates									7	83	74
Impairment loss on investment									(8)	0	0
Gain on sale of unconsolidated affiliate									49	0	0
Other income, net									4	9	8
Loss on debt extinguishment									(24)	(16)	(7)
Interest expense, net									(415)	(404)	(306)
Income before income taxes									(54)	(104)	116
Income tax expense (benefit)									8	(8)	62
Net (Loss) Income	(73)	$ 42	$ 76	$ (107)	(48)	$ 35	(36)	$ (47)	(62)	(96)	54
Net Income (Loss) Attributable to Clearway Energy, Inc.									25	(11)	$ 48
Equity investments in affiliates	741				1,183				741	1,183
Capital expenditures	106				223				106	223
Total Assets	10,592				9,700				$ 10,592	$ 9,700
Renewables
Segment Reporting
Impairment losses					14
Impairment loss on investment	(8)
Thermal
Segment Reporting
Impairment losses							$ 19
Southern California Edison \| Conventional Generation
Segment Reporting
Customer's percentage of total revenue									18.00%	21.00%	20.00%
Southern California Edison \| Renewables
Segment Reporting
Customer's percentage of total revenue									16.00%	19.00%	20.00%
PG&E \| Conventional Generation
Segment Reporting
Customer's percentage of total revenue									10.00%	12.00%	12.00%
PG&E \| Renewables
Segment Reporting
Customer's percentage of total revenue									8.00%	10.00%	11.00%
Operating Segments
Segment Reporting
Total operating revenues									$ 1,199	$ 1,032	$ 1,053
Operating Segments \| Conventional Generation
Segment Reporting
Total operating revenues									437	346	337
Cost of operations									90	60	61
Depreciation, amortization and accretion									132	103	102
Impairment losses									0	0
General and administrative									0	0	0
Transaction and integration costs									0	0	0
Development costs									0	0	0
Operating Income									215	183	174
Equity in earnings (losses) of unconsolidated affiliates									8	9	11
Impairment loss on investment									0
Gain on sale of unconsolidated affiliate									0
Other income, net									1	2	1
Loss on debt extinguishment									0	0	0
Interest expense, net									(84)	59	51
Income before income taxes									140	135	135
Income tax expense (benefit)									0	0	0
Net (Loss) Income									140	135	135
Net Income (Loss) Attributable to Clearway Energy, Inc.									140	135	135
Equity investments in affiliates	90				94				90	94
Capital expenditures	12				4				12	4
Total Assets	2,575				2,753				2,575	2,753
Operating Segments \| Renewables
Segment Reporting
Total operating revenues									569	485	523
Cost of operations									147	143	139
Depreciation, amortization and accretion									264	271	211
Impairment losses									24	14
General and administrative									0	1	0
Transaction and integration costs									0	0	0
Development costs									0	0	0
Operating Income									134	56	173
Equity in earnings (losses) of unconsolidated affiliates									(1)	74	63
Impairment loss on investment									(8)
Gain on sale of unconsolidated affiliate									0
Other income, net									3	6	4
Loss on debt extinguishment									(21)	(1)	0
Interest expense, net									(216)	239	154
Income before income taxes									(109)	(104)	86
Income tax expense (benefit)									0	0	0
Net (Loss) Income									(109)	(104)	86
Net Income (Loss) Attributable to Clearway Energy, Inc.									3	(33)	186
Equity investments in affiliates	651				1,089				651	1,089
Capital expenditures	44				185				44	185
Total Assets	7,157				6,186				7,157	6,186
Operating Segments \| Thermal
Segment Reporting
Total operating revenues									193	201	193
Cost of operations									131	134	127
Depreciation, amortization and accretion									32	27	23
Impairment losses									0	19
General and administrative									3	3	1
Transaction and integration costs									0	0	0
Development costs									5	5	2
Operating Income									22	13	40
Equity in earnings (losses) of unconsolidated affiliates									0	0	0
Impairment loss on investment									0
Gain on sale of unconsolidated affiliate									0
Other income, net									0	0	1
Loss on debt extinguishment									0	0	0
Interest expense, net									(19)	18	12
Income before income taxes									3	(5)	29
Income tax expense (benefit)									0	0	0
Net (Loss) Income									3	(5)	29
Net Income (Loss) Attributable to Clearway Energy, Inc.									3	(5)	29
Equity investments in affiliates	0				0				0	0
Capital expenditures	50				34				50	34
Total Assets	627				633				627	633
Corporate
Segment Reporting
Total operating revenues									0	0	0
Cost of operations									(2)	0	0
Depreciation, amortization and accretion									0	0	0
Impairment losses									0	0
General and administrative									31	25	19
Transaction and integration costs									9	3	20
Development costs									0	0	1
Operating Income									(38)	(28)	(40)
Equity in earnings (losses) of unconsolidated affiliates									0	0	0
Impairment loss on investment									0
Gain on sale of unconsolidated affiliate									49
Other income, net									0	1	2
Loss on debt extinguishment									(3)	(15)	(7)
Interest expense, net									(96)	88	89
Income before income taxes									(88)	(130)	(134)
Income tax expense (benefit)									8	(8)	62
Net (Loss) Income									(96)	(122)	(196)
Net Income (Loss) Attributable to Clearway Energy, Inc.									(121)	(108)	$ (302)
Equity investments in affiliates	0				0				0	0
Capital expenditures	0				0				0	0
Total Assets	$ 233				$ 128				$ 233	$ 128

Income Taxes (Provision) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Provision) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred
U.S. Federal	$ 7	$ (4)	$ 28
State	1	(4)	34
Total — deferred	8	(8)	62
Income tax (benefit) expense	8	(8)	62
Reconciliation of the U.S. federal statutory rate to the Company's effective rate from continuing operations
Income Before Income Taxes	(54)	(104)	116
Tax at 21%	(11)	(22)	24
State taxes, net of federal benefit	(4)	(7)	8
Deferred state rate change due to deconsolidation from NRG	0	0	20
Impact of non-taxable equity earnings	24	24	8
Investment tax credits	0	(1)	(3)
Production tax credits, including prior year true-up	(1)	(1)	(1)
Valuation allowance adjustment	0	0	3
Rate Change	2	0	0
Other	$ (2)	$ (1)	$ 3
Effective income tax rate	(14.80%)	7.70%	53.40%

Income Taxes (Deferred) (Details) - USD ($)	12 Months Ended
Income Taxes (Deferred) (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2020
Deferred Tax Liabilities, Gross [Abstract]
Total deferred tax assets, net of valuation allowance	$ 227,000,000	$ 226,000,000
Total deferred tax liabilities	227,000,000	226,000,000
Deferred Tax Assets, Gross [Abstract]
Interest expense disallowance carryforward - Investment in Projects	50,000,000	11,000,000
Production tax credits	9,000,000	9,000,000
Investment tax credits	5,000,000	5,000,000
U.S. Federal net operating loss carryforwards	215,000,000	260,000,000
Capital loss carryforwards	12,000,000	12,000,000
State net operating loss carryforwards	43,000,000	48,000,000
Total deferred tax assets	334,000,000	345,000,000
Valuation allowance	(15,000,000)	(15,000,000)
Total deferred tax assets, net of valuation allowance	319,000,000	330,000,000
Net deferred noncurrent tax asset	92,000,000	104,000,000
Net deferred tax asset	92,000,000	104,000,000
Unrecognized tax positions		$ 0
Affiliated Entity \| NRG
Deferred Tax Assets, Gross [Abstract]
State net operating loss carryforwards	$ 22,000,000

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 ($)	Jan. 31, 2020 USD ($)	Jan. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Aug. 31, 2018 USD ($)	Dec. 31, 2020 USD ($) kpph MW ton	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Related Party Transaction
General and administrative						$ 34.0	$ 29.0	$ 20.0
UPMC Thermal
Related Party Transaction
Related party transaction term	20 years
Cash considerations	$ 84.0	$ 1.0	$ 3.0
UPMC Thermal \| Thermal
Related Party Transaction
Steam and chilled water capacity, megawatts thermal equivalent \| MW						73
Steam energy \| kpph						150
Chilled water capacity \| ton						6,750
Power generation capacity, megawatts \| MW						7.5
NRG \| CEG
Related Party Transaction
Ownership interest sold					100.00%
NRG \| Thermal
Related Party Transaction
Incurred expenses for transactions with related party					$ 7.0
RENOM
Related Party Transaction
Incurred expenses for transactions with related party				$ 11.0	29.0	$ 37.0	31.0
Due to related party						10.0	7.0
CEG
Related Party Transaction
Incurred expenses for transactions with related party				$ 3.0
Due to related party						2.0	1.0
General and administrative						2.0	1.0
Affiliated Entity \| Administrative Services Agreements
Related Party Transaction
Incurred expenses for transactions with related party					6.0	$ 10.0	$ 7.0
NRG
Related Party Transaction
Intercompany revenue					8.0
NRG \| Operations and Maintenance services
Related Party Transaction
Incurred expenses for transactions with related party					27.0
NRG \| Thermal
Related Party Transaction
Incurred expenses for transactions with related party					7.0
NRG \| GCE Holding LLC \| Operations and Maintenance services
Related Party Transaction
Incurred expenses for transactions with related party					4.0
NRG \| Marsh Landing
Related Party Transaction
Incurred expenses for transactions with related party					11.0
NRG \| PML \| Management Service, Base
Related Party Transaction
Reimbursed costs under the agreements					$ 11.0

Commitments and Contingencies (Details) - USD ($) $ in Millions	8 Months Ended	12 Months Ended
	Aug. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long-term Purchase Commitment [Line Items]
Power procurement arrangements		$ 32	$ 38	$ 39
2021		9
2022		3
2023		2
2024		0
2025		0
Purchase obligation, thereafter		0
Total		$ 14
Thermal \| NRG
Long-term Purchase Commitment [Line Items]
Incurred expenses for transactions with related party	$ 7

Leases - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 19	$ 13
Variable lease cost	9	8
Total lease cost	28	21
ASSETS
Right-of-use assets, net	337	223
Liabilities [Abstract]
Short-term lease liability - operating leases	8	7
Long-term lease liabilities	345	227
Lease liability	$ 353	$ 234
Weighted average remaining lease term	25 years	25 years
Weighted average discount rate	4.30%	4.40%
Cash paid for operating leases	$ 19	$ 15
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherAccruedLiabilitiesCurrent	us-gaap:OtherAccruedLiabilitiesCurrent

Leases - Narrative (Details) $ in Millions	Dec. 31, 2020 USD ($) renewalOption	Sep. 30, 2020 USD ($) renewalOption	Dec. 31, 2019 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liability	$ 353		$ 234
Right of use assets, net	$ 337		$ 223
Weighted average discount rate	4.30%		4.40%
Lease receivable	$ 2,864
Permitted to receive, year one	444
Permitted to receive, year two	450
Permitted to receive, year three	259
Permitted to receive, year four	106
Permitted to receive, year five	107
Oahu Solar Partnership
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liability	20		$ 21
Right of use assets, net	$ 18		$ 19
Lease period	35 years
Number of renewal options \| renewalOption	2
Renewal period	5 years
Rosamond Central
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liability	$ 12
Right of use assets, net	$ 11
Lease period	35 years
Number of renewal options \| renewalOption	2
Renewal period	5 years
Energy Center Caguas LLC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of renewal options \| renewalOption		2
Renewal period		5 years
Lease receivable		$ 12
Permitted to receive, year one		1
Permitted to receive, year two		1
Permitted to receive, year three		1
Permitted to receive, year four		1
Permitted to receive, year five		$ 1

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 23
2022	23
2023	23
2024	23
2025	23
Thereafter	476
Total lease payments	591
Less imputed interest	(238)
Total lease liability - operating leases	$ 353	$ 234

Leases - Revenue Related to Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Energy revenue
Disaggregation of Revenue [Line Items]
Lease revenue	$ 566	$ 516
Capacity revenue
Disaggregation of Revenue [Line Items]
Lease revenue	451	348
Operating revenue
Disaggregation of Revenue [Line Items]
Lease revenue	1,017	864
Conventional Generation \| Energy revenue
Disaggregation of Revenue [Line Items]
Lease revenue	10	5
Conventional Generation \| Capacity revenue
Disaggregation of Revenue [Line Items]
Lease revenue	451	348
Conventional Generation \| Operating revenue
Disaggregation of Revenue [Line Items]
Lease revenue	461	353
Renewables \| Energy revenue
Disaggregation of Revenue [Line Items]
Lease revenue	554	509
Renewables \| Capacity revenue
Disaggregation of Revenue [Line Items]
Lease revenue	0	0
Renewables \| Operating revenue
Disaggregation of Revenue [Line Items]
Lease revenue	554	509
Thermal \| Energy revenue
Disaggregation of Revenue [Line Items]
Lease revenue	2	2
Thermal \| Capacity revenue
Disaggregation of Revenue [Line Items]
Lease revenue	0	0
Thermal \| Operating revenue
Disaggregation of Revenue [Line Items]
Lease revenue	$ 2	$ 2

Leases - Minimum Future Rent Payments Under Operating Leases (Details) $ in Millions	Dec. 31, 2020 USD ($)
Segment Reporting
2021	$ 444
2022	450
2023	259
2024	106
2025	107
Thereafter	1,498
Total lease payments	2,864
Thermal
Segment Reporting
2021	1
2022	1
2023	1
2024	1
2025	1
Thereafter	9
Total lease payments	$ 14

Leases - Property, Plant and Equipment Related to Operating Leases (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 9,540	$ 7,943
Accumulated depreciation	(2,323)	(1,880)
Net property, plant and equipment	7,217	6,063
Assets Leased to Others
Property, Plant and Equipment [Line Items]
Property, plant and equipment	7,201	6,942
Accumulated depreciation	(1,964)	(1,649)
Net property, plant and equipment	$ 5,237	$ 5,293

Unaudited Quarterly Data (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock
Total operating revenues	$ 280	$ 332	$ 329	$ 258	$ 235	$ 296	$ 284	$ 217	$ 1,199	$ 1,032	$ 1,053
Operating income	28	123	130	52	6	90	87	41	333	224	347
Net (Loss) Income	(73)	42	76	(107)	(48)	35	(36)	(47)	$ (62)	$ (96)	$ 54
Net income (loss) attributable to Clearway Energy, Inc.	$ (25)	$ 32	$ 47	$ (29)	$ (6)	$ 39	$ (24)	$ (20)
(Loss) Earnings per weighted average common share - basic and diluted (in dollars per share)									$ 0.22	$ (0.10)	$ 0.46
Common Class A
Class of Stock
Net income (loss) attributable to Clearway Energy, Inc.									$ 7	$ (4)	$ 16
Weighted average number of common shares outstanding - basic and diluted (in shares)	35	35	35	35					35	35	35
Weighted average number of shares outstanding - basic (in shares)					35	35	35	35	35	35	35
Weighted average number of common shares outstanding - diluted (in shares)					35	35	35	35	35	35	35
(Loss) Earnings per weighted average common share - basic and diluted (in dollars per share)									$ 0.22	$ (0.10)	$ 0.46
Common Class C
Class of Stock
Net income (loss) attributable to Clearway Energy, Inc.									$ 18	$ (7)	$ 32
Weighted average number of common shares outstanding - basic and diluted (in shares)	81	81	80	79					80	74	69
Weighted average number of shares outstanding - basic (in shares)					75	73	73	73	80	74	69
Weighted average number of common shares outstanding - diluted (in shares)					75	75	73	73	81	74	69
(Loss) Earnings per weighted average common share - basic and diluted (in dollars per share)	$ (0.20)	$ 0.27	$ 0.41	$ (0.26)	$ (60,000.00)	$ 360,000	$ (220,000)	$ (180,000)	$ 0.22	$ (0.10)	$ 0.46

Schedule I - Condensed Financial Information of Registrant - P/L (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Loss on debt extinguishment									$ (24)	$ (16)	$ (7)
Interest expense									(415)	(404)	(306)
Total other expense, net									(387)	(328)	(231)
Income Before Income Taxes									(54)	(104)	116
Income tax expense (benefit)									8	(8)	62
Net (Loss) Income	$ (73)	$ 42	$ 76	$ (107)	$ (48)	$ 35	$ (36)	$ (47)	(62)	(96)	54
Less: Pre-acquisition net income of Drop Down Assets									0	0	4
Less: Net (loss) income attributable to noncontrolling interests									(87)	(85)	2
Net Income (Loss) Attributable to Clearway Energy, Inc.	$ (25)	$ 32	$ 47	$ (29)	$ (6)	$ 39	$ (24)	$ (20)
Clearway Energy, Inc.
Condensed Financial Statements, Captions [Line Items]
Total operating costs and expenses									2	2	1
Equity in (losses) earnings of consolidated subsidiaries									(52)	(101)	135
Loss on debt extinguishment									0	0	(7)
Interest expense									0	(1)	(11)
Total other expense, net									(52)	(102)	117
Income Before Income Taxes									(54)	(104)	116
Income tax expense (benefit)									8	(8)	62
Net (Loss) Income									(62)	(96)	54
Less: Pre-acquisition net income of Drop Down Assets									0	0	4
Less: Net (loss) income attributable to noncontrolling interests									(87)	(85)	2
Net Income (Loss) Attributable to Clearway Energy, Inc.									$ 25	$ (11)	$ 48

Schedule I - Condensed Financial Information of Registrant - B/S (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 268	$ 155
Accounts receivable — affiliates	0	2
Deferred income taxes	104	92
Total Assets	10,592	9,700
Current portion of long-term debt	384	1,824
Accounts payable — affiliates	17	31
Long-term debt	7,043	6,858
Other non-current liabilities	178	121
Total Liabilities	7,877	7,437
Preferred Stock, Value, 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); 201,635,990 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 81,558,845, Class D 42,738,750) at December 31, 2020 and 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	1	1
Additional paid-in capital	1,922	1,936
Accumulated deficit	(84)	(72)
Accumulated other comprehensive loss	(14)	(15)
Noncontrolling interest	890	413
Total Stockholders' Equity	2,715	2,263	$ 2,224	$ 2,159
Total Liabilities and Stockholders' Equity	10,592	9,700
Clearway Energy, Inc.
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	3
Accounts receivable — affiliates	3	2
Note receivable - Clearway Energy Operating LLC	1	44
Investment in consolidated subsidiaries	2,612	2,173
Deferred income taxes	104	92
Total Assets	2,720	2,314
Current portion of long-term debt	0	44
Other current liabilities	0	1
Other non-current liabilities	5	6
Total Liabilities	5	51
Preferred Stock, Value, 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); 201,635,990 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 81,558,845, Class D 42,738,750) at December 31, 2020 and 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	1	1
Additional paid-in capital	1,922	1,936
Accumulated deficit	(84)	(72)
Accumulated other comprehensive loss	(14)	(15)
Noncontrolling interest	890	413
Total Stockholders' Equity	2,715	2,263
Total Liabilities and Stockholders' Equity	$ 2,720	$ 2,314

Schedule I - Condensed Financial Information of Registrant - B/S Parenthetical (Details) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
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)	201,635,990	198,819,999
Common stock, shares outstanding (in shares)	201,635,990	198,819,999
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
Common stock, shares issued (in shares)	34,599,645	34,599,645
Common stock, shares outstanding (in shares)	34,599,645	34,599,645
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
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
Common stock, shares issued (in shares)	81,558,845	78,742,854
Common stock, shares outstanding (in shares)	81,558,845	78,742,854
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
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)	201,635,990	1,198,819,999
Common stock, shares outstanding (in shares)	201,635,990	1,198,819,999
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
Common stock, shares issued (in shares)	34,599,645	34,599,645
Common stock, shares outstanding (in shares)	34,599,645	34,599,645
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
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. \| 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
Common stock, shares issued (in shares)	81,558,845	78,742,854
Common stock, shares outstanding (in shares)	81,558,845	78,742,854
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
Common stock, shares issued (in shares)	42,738,750	42,738,750
Common stock, shares outstanding (in shares)	42,738,750	42,738,750

Schedule I - Condensed Financial Information of Registrant - CF (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Cash Flow Statements, Captions [Line Items]
Net Cash (Used in) Provided by Operating Activities	$ 545	$ 477	$ 498
Net Cash Provided by (Used in) Investing Activities	(62)	(468)	(185)
Payments for long-term debt	(1,527)	(1,484)	(810)
Proceeds from the issuance of common stock	62	100	153
Net Cash (Used in) Provided by Financing Activities	(435)	(175)	(46)
Net (Decrease) Increase in Cash and Cash Equivalents	48	(166)	267
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	417	583	316
Cash, Cash Equivalents and Restricted Cash at End of Period	465	417	583
Clearway Energy, Inc.
Condensed Cash Flow Statements, Captions [Line Items]
Net Cash (Used in) Provided by Operating Activities	(3)	(5)	3
Investments in consolidated affiliates	(59)	(87)	(150)
Cash advances for notes receivable - affiliate	(3)	0	0
Cash received from notes receivable - affiliate	45	215	359
Net Cash Provided by (Used in) Investing Activities	(17)	128	209
Payments for long-term debt	(45)	(220)	(367)
Proceeds from the issuance of common stock	62	100	153
Cash received from Clearway Energy LLC for the payment of dividends	121	87	130
Payment of dividends	(121)	(87)	(130)
Net Cash (Used in) Provided by Financing Activities	17	(120)	(214)
Net (Decrease) Increase in Cash and Cash Equivalents	(3)	3	(2)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	3	0	2
Cash, Cash Equivalents and Restricted Cash at End of Period	$ 0	$ 3	$ 0

Schedule I - Condensed Financial Information of Registrant - Footnotes (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) MW	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 06, 2019 MW	Aug. 31, 2018	Mar. 30, 2018
Condensed Cash Flow Statements, Captions [Line Items]
Ownership interest acquired						100.00%
Cash distributions \| $	$ 121	$ 87	$ 130
Clearway Energy LLC
Condensed Cash Flow Statements, Captions [Line Items]
Limited liability company or limited partnership, members or limited partners, ownership interest	57.61%
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%
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	57.61%
Carlsbad Drop Down
Condensed Cash Flow Statements, Captions [Line Items]
Ownership interest acquired				100.00%
Conventional Generation, Utility-Scale Solar, Distributed Solar, and Wind
Condensed Cash Flow Statements, Captions [Line Items]
Power generation capacity, megawatts	4,200
Natural Gas \| Carlsbad Drop Down
Condensed Cash Flow Statements, Captions [Line Items]
Power generation capacity, megawatts				527

Schedule II (Details) - USD ($) $ in Millions	12 Months Ended
Schedule II (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 15	$ 15	$ 10
Charged to costs and expenses	0	0	5
Charged to other accounts	0	0	0
Balance at end of period	$ 15	$ 15	$ 15