other material
confidence high
sentiment negative
materiality 0.65
Clearway Energy discloses material weakness in internal controls and revises prior financials for HLBV errors.
Clearway Energy, Inc.
- Corrected immaterial HLBV accounting errors for Q1, Q2, Q3 2025 affecting net loss attributable to noncontrolling interests and retained earnings.
- Material weakness in internal control over financial reporting identified in Q4 2025 due to ineffective controls over HLBV calculations.
- Revisions reduced Clearway Energy LLC net income by $12M, $5M, and $6M for the three months ended March, June, September 2025.
- No impact on net income (loss) or cash flow from operations; no restatement required.
- Exhibit 99.1 provides detailed adjustments to unaudited financial information for Clearway Energy, Inc. and Clearway Energy LLC.