# Clearway Energy Group

Clearway Energy Group is an Asset Manager based in San Francisco, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2018
- **Assets under management:** Greater than $5B (Altss estimate)
- **Website:** investor.clearwayenergy.com
- **LinkedIn:** https://www.linkedin.com/company/clearway-energy-group

## Regulatory record

- **Reports private funds:** No

## About

Clearway Energy Group was formed in 2018 by combining NRG Yield's renewable assets with those from X-Elio North America, creating a developer-operator scale under majority ownership by Global Infrastructure Partners. The firm is internally led by CEO Craig Cornelius, who had previously run NRG's renewable division. Its wealth is corporate, not family-based — the business serves institutional owners. Clearway develops and constructs utility-scale solar, onshore wind, and battery storage projects across the U.S. It also operates a fleet of 8+ GW of renewable assets with a pipeline exceeding 15 GW of new projects. Known offtakers include corporate power purchase agreements with firms like Google and Amazon. Geography is entirely North America, with assets concentrated in California, Texas, and the Midwest. The group raised over $1B in tax equity financing between 2021 and 2023 (per industry reports), supporting growth in its operating portfolio. Its parent, Clearway Energy, Inc., is publicly listed on the NYSE under ticker CWEN. The operating company is structured as a yieldco — it holds long-term contracted assets and distributes cash to shareholders. Clearway's structural differentiator is its dual-entity architecture: a private development platform (Clearway Energy Group) feeds contracted, operational assets into the public yieldco (Clearway Energy, Inc.), creating a capital recycling model uncommon among pure-play developers. This structure allows repeat institutional investment at scale without traditional fund cycles.

## Sectors

- Energy Transition & Renewables
- Infrastructure
- ClimateTech

## Offices

- Chicago, IL
- New York, NY
- San Diego, CA

## People

- Craig Cornelius — CEO
- Sarah Rubenstein — CFO
- Noora Heikkilä — Chief Operating Officer

## Questions

### Does Clearway Energy Group participate in fund commitments or only direct investments?

Clearway does not raise external investment funds. Instead, it finances projects through tax equity partnerships, corporate balance sheet, and project finance debt. It also sells contracted assets to its public yieldco affiliate, Clearway Energy, Inc., which raises public equity and debt to acquire those assets (per the firm's SEC filings).

### Which sectors does Clearway explicitly avoid?

Clearway avoids fossil fuel generation, except for legacy gas assets held in its yieldco from before the 2018 merger. The firm officially focuses exclusively on solar, wind, and battery storage. It does not invest in hydro, geothermal, or nuclear power (per its annual sustainability reporting).

### How is Clearway related to Global Infrastructure Partners?

GIP owned a majority stake in Clearway Energy Group from its 2018 formation until GIP was acquired by BlackRock in February 2024. As of 2025, Clearway is indirectly held by BlackRock's infrastructure platform, though the firm operates independently. GIP originally contributed assets from NRG Yield and X-Elio to form the company.

## Related profiles

- [Panzeri Carlo S.R.L.](https://altss.com/profile/panzeri-carlo-srl)
- [EDF Renewables](https://altss.com/profile/edf-renewables)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/clearway-energy-group

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