Clearway Energy Q1 net loss $97M; closes Thermal sale, updates 2022 CAFD guidance to $365M

Clearway Energy, Inc.

Net loss $97M vs $76M year ago; Adjusted EBITDA $260M vs $198M; CAFD -$2M vs -$15M.
Closed sale of Thermal Business to KKR for $1.9B on May 1; net proceeds ~$1.35B.
Used Thermal proceeds to repay $305M revolver and $335M bridge loan; liquidity $574M.
Q2 dividend raised 2% to $0.3536/share; reaffirms 5-8% annual dividend growth through 2026.
Updated 2022 CAFD guidance to $365M; reiterates pro forma CAFD outlook ~$385M.

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