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CWEN

Clearway Energy

$16.31

0.205 (1.27%)

16:49
06/17/19
06/17
16:49
06/17/19
16:49

Clearway Energy announces equity commitment in repowering partnership

Clearway Energy announced that, through an indirect subsidiary of the company, it has entered into binding equity commitment agreements in the previously announced partnership with Clearway Group to enable the repowering of two of its existing wind assets, Wildorado and Elbow Creek. These agreements commit the company to invest an estimated $111M in net corporate capital, subject to closing adjustments. The transaction is expected to contribute incremental asset CAFD on an average annual basis of approximately $12M beginning in 20202, which reflects the improved operational profile of the projects and the impact from the new non-recourse capital structure employed at the partnership. "Our commitment to invest in the repowering of these two important wind assets highlights a new area of organic growth for the company," said Christopher Sotos, Clearway Energy, President and Chief Executive Officer. "We are pleased to achieve this important milestone in collaboration with our partner Clearway Group and look forward to working together in the future to prudently and accretively repower other projects in the company's portfolio." "Repowering our wind energy assets will extend the life of these projects with modern technology that is more efficient and cost-effective than ever," said Craig Cornelius, Chief Executive Officer at Clearway Group, "We're proud to collaborate on this important investment and continue to play a leading role in our nation's growing clean energy economy

CWEN Clearway Energy
$16.31

0.205 (1.27%)

02/13/19
02/13/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Deere (DE) downgraded to Neutral from Buy at BofA/Merrill with analyst Ross Gilardi saying he views risk/reward as more balanced heading into Friday's Q1 report following recent share outperformance. 2. Consolidated Edison (ED) downgraded to Underperform from In Line at Evercore ISI. 3. Clearway Energy (CWEN) downgraded to Sell from Neutral at Guggenheim with analyst Shahriar Pourreza saying he expects the company to announce a dividend cut in the next few days after his discussions with key stakeholders and the management, adding that "at a minimum," the company's cash may be "locked up at the project level for a pronounced period of time." 4. Huntsman (HUN) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas saying the company has its work cut out to reach its own adjusted EBITDA forecasts for 2019. 5. Aquantia (AQ) downgraded to Equal Weight from Overweight at Morgan Stanley and to Market Perform from Outperform at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/15/19
MACQ
02/15/19
DOWNGRADE
MACQ
Neutral
Clearway Energy downgraded to Neutral from Outperform at Macquarie
02/20/19
EVER
02/20/19
DOWNGRADE
EVER
In Line
Clearway Energy downgraded to In Line from Outperform at Evercore ISI
04/30/19
MSCO
04/30/19
NO CHANGE
MSCO
Clearway, Pattern Energy could see boost on Atlantica news, says Morgan Stanley
Morgan Stanley analyst Stephen Byrd noted that Atlantica Yield (AY) has announced plans to explore strategic options and while he has no knowledge of any talks involving any of the companies he covers in the space he believes that the market could begin to price in potential strategic optionality at other YieldCos. If so, he sees the potential for modest upside for Clearway Energy (CWEN) and Pattern Energy (PEGI), depending on a what assumptions the market makes, Byrd tells investors. He also points to NextEra Energy Partners (NEP) as a "special case" among YieldCos, stating that its dividend yield is much lower, but its growth prospects are significantly better. In the case of NextEra, though, Byrd said he sees potential downside given the relatively high amount of non-amortizing leverage at parent NextEra Energy (NEE).

TODAY'S FREE FLY STORIES

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CHCO

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UNCFF

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VYST

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TSLA

Tesla

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07:34
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LII

Lennox

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FY19 consensus $3.89B.

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BHVN

Biohaven Pharmaceutical

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AAPL

Apple

$202.62

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LII

Lennox

$279.06

-4.87 (-1.72%)

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  • 22

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AXP

American Express

07:31
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AXP

American Express

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LII

Lennox

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LII

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SKIS

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NTEC

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CMBM

Cambium Networks

$10.35

0.42 (4.23%)

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OLED

Universal Display

$205.90

-0.74 (-0.36%)

07:27
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NOW

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07:26
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  • 24

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BHVN

Biohaven Pharmaceutical

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LMNR

Limoneira

$18.88

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07:25
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  • 13

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AAPL

Apple

$202.62

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07:24
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Apple analyst commentary  »

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  • 30

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