11 Best Renewable Energy Stocks To Buy Now

9. Clearway Energy, Inc. (NYSE:CWEN)

Number of Hedge Fund Investors: 29

Clearway Energy, Inc. (NYSE:CWEN) is a renewable energy company engaged in the development, ownership, and operation of renewable energy generation facilities. The company’s portfolio includes 11.4 GW of gross generating capacity across 26 states, with 9 GW of assets in wind, solar, and battery energy storage.

Clearway Energy, Inc. (NYSE:CWEN) is making substantial progress in expanding its renewable energy portfolio. The company recently entered into a binding agreement to acquire the 137 MW Tuolumne Wind Project from Turlock Irrigation District, located in Klickitat County, Washington. The acquisition is expected to close in the first quarter of 2025 and will sell power under a new 15-year Power Purchase Agreement (PPA) with Turlock Irrigation District, and is forecasted to provide incremental annual levered asset Cash Available for Distribution (CAFD) on a five-year average basis of approximately $9 million beginning January 1, 2026.

Clearway Energy, Inc. (NYSE:CWEN) is also investing in the Pine Forest Solar and Storage Project. Located in the rapidly growing ERCOT (Electric Reliability Council of Texas) power market, this project strategically enhances the company’s portfolio. The solar capacity of the Pine Forest project is fully contracted for an average of around 20 years, with most of the contracts secured with prominent information technology companies.