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                                                     
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended September 30, 2020

Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File Number: 001-36002
Clearway Energy, Inc.
(Exact name of registrant as specified in its charter)
Delaware46-1777204
(State or other jurisdiction
of incorporation or organization)
(I.R.S. Employer
Identification No.)
300 Carnegie Center, Suite 300 PrincetonNew Jersey08540
(Address of principal executive offices)(Zip Code)
(609608-1525
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, par value $0.01CWEN.ANew York Stock Exchange
Class C Common Stock, par value $0.01CWENNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes       No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes       No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
Accelerated filer
Non-accelerated filer  
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐  
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes       No
As of October 31, 2020, there were 34,599,645 shares of Class A common stock outstanding, par value $0.01 per share, 42,738,750 shares of Class B common stock outstanding, par value $0.01 per share, 81,558,845 shares of Class C common stock outstanding, par value $0.01 per share, and 42,738,750 shares of Class D common stock outstanding, par value $0.01 per share.



                                                                              
TABLE OF CONTENTS
Index
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
GLOSSARY OF TERMS
PART I — FINANCIAL INFORMATION
ITEM 1 — FINANCIAL STATEMENTS AND NOTES
ITEM 2 — MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 3 — QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 4 — CONTROLS AND PROCEDURES
PART II — OTHER INFORMATION
ITEM 1 — LEGAL PROCEEDINGS
ITEM 1A — RISK FACTORS
ITEM 2 — UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 3 — DEFAULTS UPON SENIOR SECURITIES
ITEM 4 — MINE SAFETY DISCLOSURES
ITEM 5 — OTHER INFORMATION
ITEM 6 — EXHIBITS
SIGNATURES

2


                                                                              
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This Quarterly Report on Form 10-Q of Clearway Energy, Inc., together with its consolidated subsidiaries, or the Company, includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. The words "believes," "projects," "anticipates," "plans," "expects," "intends," "estimates" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors, risks and uncertainties include the factors described under Item 1A — Risk Factors in Part II of the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2020 and under Item 1A — Risk Factors in Part I of the Company's Annual Report on Form 10-K for the year ended December 31, 2019, as well as the following:
The Company's ability to maintain and grow its quarterly dividend;
Potential risks related to the Company's relationships with GIP and CEG, including the Company's ability to acquire assets from GIP or CEG;
Potential risks related to COVID-19 or any other pandemic;
The Company's ability to successfully identify, evaluate and consummate acquisitions from third parties;
The Company's ability to raise additional capital due to its indebtedness, corporate structure, market conditions or otherwise;
Changes in law, including judicial decisions;
Hazards customary to the power production industry and power generation operations such as fuel and electricity price volatility, unusual weather conditions (including wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to fuel supply costs or availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission or gas pipeline system constraints and the possibility that the Company may not have adequate insurance to cover losses as a result of such hazards;
The Company's ability to operate its businesses efficiently, manage maintenance capital expenditures and costs effectively, and generate earnings and cash flows from its asset-based businesses in relation to its debt and other obligations;
The willingness and ability of counterparties to the Company's offtake agreements to fulfill their obligations under such agreements;
The Company's ability to enter into contracts to sell power and procure fuel on acceptable terms and prices as current offtake agreements expire;
Government regulation, including compliance with regulatory requirements and changes in market rules, rates, tariffs and environmental laws;
Operating and financial restrictions placed on the Company that are contained in the project-level debt facilities and other agreements of certain subsidiaries and project-level subsidiaries generally, in the Clearway Energy Operating LLC amended and restated revolving credit facility and in the indentures governing the Senior Notes;
Cyber terrorism and inadequate cybersecurity, or the occurrence of a catastrophic loss and the possibility that the Company may not have adequate insurance to cover losses resulting from such hazards or the inability of the Company's insurers to provide coverage;
The Company's ability to engage in successful mergers and acquisitions activity; and
The Company's ability to borrow additional funds and access capital markets, as well as the Company's substantial indebtedness and the possibility that the Company may incur additional indebtedness going forward.
Forward-looking statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause the Company's actual results to differ materially from those contemplated in any forward-looking statements included in this Quarterly Report on Form 10-Q should not be construed as exhaustive.

3


                                                                              
GLOSSARY OF TERMS
When the following terms and abbreviations appear in the text of this report, they have the meanings indicated below:
2019 Form 10-K
Clearway Energy, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2019
2020 Convertible Notes$45 million aggregate principal amount of 3.25% convertible notes due 2020, issued by Clearway Energy, Inc., which were repaid on June 1, 2020
2024 Senior Notes$500 million aggregate principal amount of 5.375% unsecured senior notes due 2024, issued by Clearway Energy Operating LLC, which were repaid on January 3,2020
2025 Senior Notes$600 million aggregate principal amount of 5.750% unsecured senior notes due 2025, issued by Clearway Energy Operating LLC
2026 Senior Notes$350 million aggregate principal amount of 5.00% unsecured senior notes due 2026, issued by Clearway Energy Operating LLC
2028 Senior Notes$850 million aggregate principal amount of 4.750% unsecured senior notes due 2028, issued by Clearway Energy Operating LLC    
Adjusted EBITDA
A non-GAAP measure, represents earnings before interest, tax, depreciation and amortization adjusted for mark-to-market gains or losses, asset write offs and impairments; and factors which the Company does not consider indicative of future operating performance
AOCI
Accumulated Other Comprehensive Income
ASCThe FASB Accounting Standards Codification, which the FASB established as the source of
authoritative GAAP
ASUAccounting Standards Updates - updates to the ASC
ATM ProgramAt-The-Market Equity Offering Program
Bankruptcy CodeTitle 11 of the U.S. Code
Bankruptcy CourtU.S. Bankruptcy Court for the Northern District of California
CAFD
A non-GAAP measure, Cash Available for Distribution is defined as of September 30, 2020 as Adjusted EBITDA plus cash distributions/return of investment from unconsolidated affiliates, adjustments to reflect CAFD generated by unconsolidated investments that were not able to distribute project dividends prior to PG&E's emergence from bankruptcy on July 1, 2020 and subsequent release post-bankruptcy, cash receipts from notes receivable, cash distributions from noncontrolling interests, adjustments to reflect sales-type lease cash payments, less cash distributions to noncontrolling interests, maintenance capital expenditures, pro-rata Adjusted EBITDA from unconsolidated affiliates, cash interest paid, income taxes paid, principal amortization of indebtedness, Walnut Creek investment payments, changes in prepaid and accrued capacity payments, and adjusted for development expenses.
CEGClearway Energy Group LLC (formerly Zephyr Renewables LLC)
CEG Master Services AgreementsMaster Services Agreements entered into as of August 31, 2018 between the Company, Clearway Energy LLC and Clearway Energy Operating LLC, and CEG
CEG ROFO AgreementRight of First Offer Agreement, entered into as of August 31, 2018, by and between Clearway Energy Group LLC and Clearway Energy, Inc., and solely for purposes of Section 2.4, GIP III Zephyr Acquisition Partners, L.P., as amended by the First Amendment dated February 14, 2019, the Second Amendment dated August 1, 2019, the Third Amendment dated December 6, 2019 and the Fourth Amendment dated November 2, 2020
Clearway Energy LLCThe holding company through which the projects are owned by Clearway Energy Group LLC, the holder of Class B and Class D units of the Company, and Clearway Energy, Inc., the holder of the Class A and Class C units
Clearway Energy Group LLCThe holder of the Company's Class B and Class D common shares and Clearway Energy LLC's Class B and Class D units
Clearway Energy Operating LLCThe holder of the project assets that are owned by Clearway Energy LLC
CODCommercial Operation Date
CompanyClearway Energy, Inc. together with its consolidated subsidiaries
CVSR California Valley Solar Ranch
4


                                                                              
CVSR Holdco CVSR Holdco LLC, the indirect owner of CVSR
DGPV Holdco 1DGPV Holdco 1 LLC
DGPV Holdco 2DGPV Holdco 2 LLC
DGPV Holdco 3DGPV Holdco 3 LLC
Distributed SolarSolar power projects, typically less than 20 MW in size, that primarily sell power produced to customers for usage on site, or are interconnected to sell power into the local distribution grid
Drop Down AssetsCollectively, assets under common control acquired by the Company from NRG from January 1, 2014 through the period ended August 31, 2018 and from CEG from August 31, 2018 through the period ending September 30, 2020
Economic Gross MarginA non-GAAP measure, energy and capacity revenue less cost of fuels
ECPEnergy Center Pittsburgh LLC, a subsidiary of the Company
EPAU.S. Environmental Protection Agency
Exchange ActThe Securities Exchange Act of 1934, as amended
FASBFinancial Accounting Standards Board
GAAPAccounting principles generally accepted in the U.S.
GenConnGenConn Energy LLC
GIP
Collectively, Global Infrastructure Partners III-C Intermediate AIV 3, L.P., Global Infrastructure Partners III-A/B AIV 3, L.P., Global Infrastructure Partners III-C Intermediate AIV 2, L.P., Global Infrastructure Partners III-C2 Intermediate AIV, L.P. and GIP III Zephyr Friends & Family, LLC
HLBVHypothetical Liquidation at Book Value
LIBORLondon Inter-Bank Offered Rate
MMBtuMillion British Thermal Units
MWMegawatts
MWhSaleable megawatt hours, net of internal/parasitic load megawatt-hours
MWtMegawatts Thermal Equivalent
Net ExposureCounterparty credit exposure to Clearway Energy, Inc. net of collateral
NOLsNet Operating Losses
NPPDNebraska Public Power District
NRGNRG Energy, Inc.
OCLOther comprehensive loss
O&MOperation and Maintenance
PG&EPacific Gas and Electric Company
PG&E BankruptcyOn January 29, 2019, PG&E Corporation and Pacific Gas and Electric Company filed voluntary petitions for relief under the Bankruptcy Code in the Bankruptcy Court. On July 1, 2020, PG&E emerged from bankruptcy
PPAPower Purchase Agreement
PTCProduction Tax Credit
RENOMClearway Renewable Operation & Maintenance LLC
RPV HoldcoRPV Holdco 1 LLC
RTORegional Transmission Organization
SEC U.S. Securities and Exchange Commission
Senior NotesCollectively, the 2025 Senior Notes, the 2026 Senior Notes and the 2028 Senior Notes
SPPSolar Power Partners
SREC Solar Renewable Energy Credit
Tax Act Tax Cuts and Jobs Act of 2017
Thermal BusinessThe Company's thermal business, which consists of thermal infrastructure assets that provide steam, hot water and/or chilled water, and in some instances electricity, to commercial businesses, universities, hospitals and governmental units
5


                                                                              
UPMC Thermal ProjectThe University of Pittsburgh Medical Center Thermal Project, a 73 MWt district energy system that allows ECP to provide steam, chilled water and 7.5 MW of emergency backup power service to UPMC
U.S.United States of America
Utah Solar PortfolioCollection consists of Four Brothers Solar, LLC, Granite Mountain Holdings, LLC, and Iron Springs Holdings, LLC, which are equity investments owned by Four Brothers Capital, LLC, Granite Mountain Capital, LLC, and Iron Springs Capital, LLC, respectively
Utility Scale SolarSolar power projects, typically 20 MW or greater in size (on an alternating current, or AC, basis), that are interconnected into the transmission or distribution grid to sell power at a wholesale level
VaRValue at Risk
VIEVariable Interest Entity
Wind TE HoldcoWind TE Holdco LLC, an 814 net MW portfolio of twelve wind projects

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PART I - FINANCIAL INFORMATION
ITEM 1 — FINANCIAL STATEMENTS
CLEARWAY ENERGY, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three months ended September 30,Nine months ended
September 30,
(In millions, except per share amounts)2020201920202019
Operating Revenues
Total operating revenues$332 $296 $919 $797 
Operating Costs and Expenses
Cost of operations95 84 275 245 
Depreciation, amortization and accretion102 114 303 289 
Impairment losses   19 
General and administrative9 7 30 20 
Transaction and integration costs1  2 2 
Development costs2 1 4 4 
Total operating costs and expenses209 206 614 579 
Operating Income123 90 305 218 
Other Income (Expense)
Equity in earnings of unconsolidated affiliates19 38 22 52 
    Gain on sale of unconsolidated affiliate
  49  
Other income, net 2 2 6 
Loss on debt extinguishment(6) (9)(1)
Interest expense(85)(106)(345)(337)
Total other expense, net(72)(66)(281)(280)
Income (Loss) Before Income Taxes51 24 24 (62)
Income tax expense (benefit)9 (11)13 (14)
Net Income (Loss)42 35 11 (48)
Less: Income (loss) attributable to noncontrolling interests and redeemable interests10 (4)(39)(43)
Net Income (Loss) Attributable to Clearway Energy, Inc.
$32 $39 $50 $(5)
Earnings (Losses) Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
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
81 73 80 73 
Weighted average number of Class C common shares outstanding - diluted
81 75 80 73 
Earnings (Losses) per Weighted Average Class A and Class C Common Share - Basic and Diluted
$0.27 $0.36 $0.43 $(0.04)
Dividends Per Class A Common Share $0.3125 $0.20 $0.7325 $0.60 
Dividends Per Class C Common Share $0.3125 $0.20 $0.7325 $0.60 

See accompanying notes to consolidated financial statements.
7


                                                                              
CLEARWAY ENERGY, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Unaudited)
Three months ended September 30,Nine months ended September 30,
(In millions)2020201920202019
Net Income (Loss)$42 $35 $11 $(48)
Other Comprehensive Income (Loss)
Unrealized gain (loss) on derivatives, net of income tax (benefit) expense of $(1), $0, $0, $0
8 (1) 2 
Other comprehensive income (loss)8 (1) 2 
Comprehensive Income (Loss)50 34 11 (46)
Less: Comprehensive income (loss) attributable to noncontrolling interests and redeemable interests14 (4)(39)(42)
Comprehensive Income (Loss) Attributable to Clearway Energy, Inc. $36 $38 $50 $(4)

See accompanying notes to consolidated financial statements.
8


                                                                              
CLEARWAY ENERGY, INC.
CONSOLIDATED BALANCE SHEETS
(In millions, except shares)September 30, 2020December 31, 2019
ASSETS(unaudited)
Current Assets  
Cash and cash equivalents$359 $155 
Restricted cash 178 262 
Accounts receivable — trade156 116 
Accounts receivable — affiliate 2 
Inventory42 40 
Prepayments and other current assets38 33 
Total current assets773 608 
Property, plant and equipment, net 6,165 6,063 
Other Assets
Equity investments in affiliates1,001 1,183 
Intangible assets, net 1,371 1,428 
Deferred income taxes84 92 
Right of use assets, net256 223 
Other non-current assets75 103 
Total other assets2,787 3,029 
Total Assets$9,725 $9,700 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities 
Current portion of long-term debt$361 $1,824 
Accounts payable — trade46 74 
Accounts payable — affiliate22 31 
Derivative instruments36 16 
Accrued interest expense48 41 
Accrued expenses and other current liabilities89 71 
Total current liabilities602 2,057 
Other Liabilities
Long-term debt6,357 4,956 
Derivative instruments150 76 
Long-term lease liabilities260 227 
Other non-current liabilities119 121 
Total non-current liabilities6,886 5,380 
Total Liabilities7,488 7,437 
Commitments and Contingencies
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); 201,482,846 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 81,405,701, Class D 42,738,750) at September 30, 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 capital1,918 1,936 
Accumulated deficit(22)(72)
Accumulated other comprehensive loss (15)(15)
Noncontrolling interest355 413 
Total Stockholders' Equity2,237 2,263 
Total Liabilities and Stockholders' Equity$9,725 $9,700 
See accompanying notes to consolidated financial statements.
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CLEARWAY ENERGY, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Nine months ended September 30,
(In millions)20202019
Cash Flows from Operating Activities
Net Income (Loss)$11 $(48)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates (22)(52)
Distributions from unconsolidated affiliates51 32 
Depreciation, amortization and accretion303 289 
Amortization of financing costs and debt discounts12 14 
Amortization of intangibles and out-of-market contracts67 52 
Loss on debt extinguishment 9 1 
Right-of-use asset amortization1 5 
Gain on sale of unconsolidated affiliate(49) 
Impairment losses  19 
Changes in deferred income taxes13 (14)
Changes in derivative instruments63 101 
Loss on disposal of asset components(4)5 
Cash used in changes in other working capital
Changes in prepaid and accrued liabilities for tolling agreements 15 12 
Changes in other working capital(29)(42)
Net Cash Provided by Operating Activities441 374 
Cash Flows from Investing Activities 
Acquisitions
 (100)
Acquisition of Drop Down Assets(79)(6)
Buyout of Wind TE Holdco noncontrolling interest (19)
Consolidation of DGPV Holdco 3 LLC17  
Capital expenditures(95)(200)
Return of investment from unconsolidated affiliates53 37 
Investments in unconsolidated affiliates (11)(14)
Proceeds from sale of assets 90  
Insurance proceeds5 2 
Net Cash Used in Investing Activities(20)(300)
Cash Flows from Financing Activities
Net contributions (distributions) from noncontrolling interests 147 (15)
Buyout of Repowering Partnership II LLC noncontrolling interest(70) 
Net proceeds from the issuance of common stock 58  
Payments of dividends and distributions(147)(116)
Payments of debt issuance costs(10)(15)
Proceeds from the revolving credit facility265 22 
Payments for the revolving credit facility(265)(22)
Proceeds from the issuance of long-term debt 775 586 
Payments for long-term debt(1,054)(700)
Net Cash Used in Financing Activities(301)(260)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash120 (186)
Cash, Cash Equivalents and Restricted Cash at beginning of period417 583 
Cash, Cash Equivalents and Restricted Cash at end of period$537 $397 
See accompanying notes to consolidated financial statements.
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CLEARWAY ENERGY, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
For the Nine Months Ended September 30, 2020
(Unaudited)
(In millions)Preferred StockCommon StockAdditional
Paid-In
Capital
Accumulated DeficitAccumulated
Other
Comprehensive Loss
Noncontrolling
Interest
Total
Stockholders'
Equity
Balances at December 31, 2019$ $1 $1,936 $(72)$(15)$413 $2,263 
Net loss
— — — (29)— (78)(107)
Unrealized loss on derivatives, net of tax— — — — (6)(6)(12)
Contributions from CEG, cash— — — — — 4 4 
Contributions from tax equity interests, net of distributions, cash— — — — — 150 150 
Net proceeds from the issuance of common stock under the ATM Program— — 10 — — — 10 
Distributions to tax equity investors, non-cash — — — — — (2)(2)
Common stock dividends and distributions to CEG— — (24)— — (18)(42)
Balances at March 31, 2020$ $1 $1,922 $(101)$(21)$463 $2,264 
Net income
— — — 47— 2976 
Unrealized gain on derivatives, net of tax— — — — 2 2 4 
Contributions from CEG, non-cash— — — — — 8 8 
Contributions from CEG, cash— — — — — 2 2 
Distributions to tax equity interests, net of contributions, cash— — — — — (3)(3)
Consolidation of DGPV Holdco 3— — — — — (43)(43)
Buyout of Repowering Partnership II LLC noncontrolling interest— — — — — (70)(70)
Stock-based compensation— — 1 — — — 1 
Non-cash adjustment for change in tax basis— — 7 — — — 7 
Net proceeds from the issuance of common stock under the ATM Program— — 28 — — — 28 
Common stock dividends and distributions to CEG— — (24)— — (18)(42)
Balances at June 30, 2020$ $1 $1,934 $(54)$(19)$370 $2,232 
Net income
— — — 32 — 10 42 
Unrealized gain on derivatives, net of tax— — — — 4 4 8 
Distributions to CEG, non-cash— — — — — (1)(1)
Distributions to tax equity interests, net of contributions, cash.— — — — — (6)(6)
Consolidation of DGPV Holdco 3— — — — — 1 1 
Mesquite Star Drop Down— — — — — 4 4 
Net proceeds from the issuance of common stock under the ATM Program— — 20 — — — 20 
Common stock dividends and distributions to CEG— — (36)— — (27)(63)
Balances at September 30, 2020$ $1 $1,918 $(22)$(15)$355 $2,237 






11


                                                                              
CLEARWAY ENERGY, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
For the Nine Months Ended September 30, 2019
(Unaudited)
(In millions)Preferred StockCommon StockAdditional
Paid-In
Capital
Accumulated DeficitAccumulated
Other
Comprehensive Loss
Noncontrolling
Interest
Total
Stockholders'
Equity
Balances at December 31, 2018$ $1 $1,897 $(58)$(18)$402 $2,224 
Net loss
— — — (20)— (27)(47)
Unrealized loss on derivatives, net of tax— — — — (1)(1)(2)
Buyout of Wind TE Holdco noncontrolling interest— — (5)— — (14)(19)
Contributions from tax equity interests, net of distributions, cash— — — — — 19 19 
Contributions from CEG for Oahu Partnership, non-cash— — — — — 12 12 
Cumulative effect of change in the accounting principle— — — (2)— (1)(3)
Common stock dividends and distributions to CEG— — (22)— — (17)(39)
Balances at March 31, 2019$ $1 $1,870 $(80)$(19)$373 $2,145 
Net loss
— — — (24)— (12)(36)
Unrealized gain on derivatives, net of tax— — — — 3 2 5 
Distributions to noncontrolling interests, net of contributions, cash— — — — — (30)(30)
Contributions from CEG for Kawailoa, Repowering Partnerships, non-cash— — — — — 6 6 
Stock-based compensation— — 1 (1)— —  
Non-cash adjustment for change in tax basis of assets— — 2 — — — 2 
Common stock dividends and distributions to CEG— — (21)— — (17)(38)
Balances at June 30, 2019$ $1 $1,852 $(105)$(16)$322 $2,054 
Net income (loss)— — — 39 — (4)35 
Unrealized loss on derivatives, net of tax— — — — (1)—