HIGHBuilt-inCommodity
98%
renewable energy and storage
“10-K Item 1: 'In 2025, 98% of the Company's total generation was attributable to renewable energy and storage assets'”
CWEN-A · Concentration risk · 10-K extracted
Clearway Energy (CWEN-A) concentration risks
Updated
The most significant concentration Clearway Energy discloses is renewable energy and storage at 98%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Clearway Energy’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH2
MEDIUM0
LOW2
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partySupplier
CEG
“10-K Item 1A: 'If CEG terminates the CEG Master Services Agreement...the Company may be unable to contract with a substitute service provider on similar terms, or at all'”
LOWOutside partyCustomer
22%
SCE
“10-K Item 1A: 'the largest customers...were SCE and PG&E, which represented 22% and 16%, respectively, of total consolidated revenues'”
LOWOutside partyCustomer
16%
PG&E
“10-K Item 1A: 'the largest customers...were SCE and PG&E, which represented 22% and 16%, respectively, of total consolidated revenues'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile mirrors the same structure as the common share class, reflecting the same underlying business. The generation base carries a high-share structural concentration: 98% of total generation in 2025 was attributable to renewable energy and storage assets, a defining feature of the company's strategic positioning as a clean energy-focused generator. This concentration is structural in character — the portfolio is intentionally built around renewables, so the exposure reflects strategic design rather than a counterparty decision subject to rapid change. The most significant dependency in the profile is the relationship with CEG: if CEG terminates the CEG Master Services Agreement, the company may be unable to contract with a substitute service provider on similar terms, or at all. This is a high-share dependency exposure because CEG's services are deeply embedded in operations, and the filing identifies no ready substitute on equivalent terms — making the continuity of that relationship a key operational risk factor. On the customer side, SCE and PG&E are the largest disclosed revenue counterparties, representing 22% and 16% of total consolidated revenues, respectively — each a small share individually but together forming a meaningful combined California utility exposure. Both are governed by power purchase agreements subject to regulatory and procurement dynamics. The overall profile is structurally clean energy with a concentrated master services dependency and two named small-share utility customers. CEG relationship stability and California utility contracting environment are the primary variables to track.
For the engine’s reasoning on CWEN-A’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Utilities - Renewable
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CWEN | Clearway Energy, Inc. | 2 | 0 | 2 | 4 |
| CWEN-A● | Clearway Energy, Inc. | 2 | 0 | 2 | 4 |
| ORA | Ormat Technologies, Inc. | 1 | 1 | 2 | 4 |
| MWH | SOLV Energy, Inc. | 1 | 0 | 0 | 1 |
| FLNC | Fluence Energy, Inc. | 0 | 1 | 1 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.