Deutsche Bank starts Clearway Energy at Buy on clean energy portfolio

Deutsche Bank initiated coverage of Clearway Energy (CWEN) with a Buy rating and $38 price target The firm is positive on the company’s position as the “YieldCo” of one of the largest owners of clean energy in the U.S. along with its 11.8GW in gross capacity portfolio that includes 9GW of wind, solar, and BESS – Battery Energy Storage System – and 2.8GW of flexible generation, the analyst tells investors in a research note. Clearway also has a “strong pipeline” of asset drop downs, with 9 identified assets and additional 2.4GW of potential capacity coming online by 2027, the firm adds.