Delivering Clean Power

Clearway Energy Group, a Global Infrastructure Partners’ (GIP) company, is one of the nation’s leading renewable energy companies, with power generation facilities in 28 states around the country. But CEO Craig Cornelius says the single most important asset at the San Francisco-based enterprise is its workforce of committed employees, who arrive at work each day with a shared vision of a world that’s free of carbon-based energy production.

Clearway was formed in August 2018 following GIP’s acquisition of NRG Energy’s renewable energy platform. The company focuses on developing, owning and operating wind and solar generation facilities and delivering clean power to customers under long-term power purchase agreements. In total, Clearway’s portfolio of renewable projects has the capacity to power about 2.7 million homes.

“Building a new corporate brand has been an important focus for Clearway in its first year as a stand-alone enterprise. Creating a new identity, with values that match our employees’ sense of vision, was extremely important to us,” Cornelius says. “The process of becoming our own entity drove a lot of engagement from the people who work here, and how the company was rebranded is a direct reflection of our employees and their drive to power a world with clean energy. Their commitment makes the difference at Clearway.”

Cornelius and his executive team are also focused on future growth. The company has a development pipeline of renewable projects all over the country that, upon completion, could add almost 9,000 megawatts of capacity to Clearway’s portfolio.

CoBank is playing a key part in that growth strategy. The bank’s Project Finance division has partnered with Clearway to deliver nearly $220 million in financing for three solar projects—two in Hawaii and one in California. All are slated to come online in 2019.

“More important to us than anything is helping to develop a world that’s powered by renewable energy,” says Cornelius. “To that end, we’re committed to delivering on the promise of lower cost energy that is sustainable for the world, and CoBank’s partnership is helping us achieve that goal.”

Brian Goldstein, sector vice president of CoBank’s Project Finance group, says financing renewable energy with companies like Clearway is an important part of the overall mission of CoBank—especially since most renewable generation facilities are in rural areas.

“We’re very excited to see what Clearway will accomplish in the coming years,” Goldstein says. “Their investments are benefitting the rural economy, and as they build more renewable projects, our world as a whole will be a better place.”