HIGHBuilt-inCommodity
98%
renewable energy and storage assets
“10-K Item 1: 'In 2025, 98% of the Company's total generation was attributable to renewable energy and storage assets.'”
CWEN · Concentration risk · 10-K extracted
Clearway Energy (CWEN) concentration risks
Updated
The most significant concentration Clearway Energy discloses is renewable energy and storage assets 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 partyCounterparty
CEG
“10-K Item 1A: 'CEG exercises substantial influence over the Company, and the Company is highly dependent on CEG.'”
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 generated by the Company during the year ended December 31, 2025.'”
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 generated by the Company during the year ended December 31, 2025.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is defined by a high-share commodity/product-type exposure, a high-share counterparty dependency, and two small named customer exposures. At the generation level, 98% of total generation in 2025 was attributable to renewable energy and storage assets — a high-share structural concentration reflecting the company's deliberate positioning as a pure-play clean energy business. This is structural in character and by design; the portfolio is intentionally built around renewables, so the concentration reflects strategy rather than a counterparty decision that could reverse. Layered on this is a high-share counterparty dependency on CEG: the company is highly dependent on CEG, which exercises substantial influence over the company. This is a dependency exposure with meaningful operational implications — CEG's role as master service provider and influential counterparty creates governance and commercial reliance that goes beyond a typical vendor relationship. At the customer level, SCE and PG&E together represent the largest disclosed revenue relationships, at 22% and 16% of total consolidated revenues, respectively — each a small share individually but together accounting for a material combined portion of revenues. Both are dependency exposures governed by power purchase agreements whose terms and renewal dynamics are subject to regulatory oversight and utility procurement decisions. Together, the profile presents a structurally renewable generation portfolio that is operationally dependent on CEG and commercially concentrated in two California utilities. Monitoring CEG's relationship continuity and California utility procurement trends are the most relevant forward variables.
For the engine’s reasoning on CWEN’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.