Clearway provides update regarding recent texas weather events

Princeton, n.j., feb. 24, 2021 (globe newswire) -- clearway energy, inc. (nyse: cwen, cwen.a) (“cwen”, “company”) is today announcing an update regarding the impact related to the extreme winter weather experienced recently in texas. certain of the company's wind projects were unable to operate and experienced outages due to the weather conditions. these projects are now operating within expectations. the company continues to assess the full financial exposure related to the circumstances, including potential mitigants, ongoing discussions with contractual counterparties, any potential disputes which may result and any state sponsored solutions to address the financial impacts caused by the circumstances. based on available information, the company currently estimates a direct cash impact between $20 million and $30 million in 2021.
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