HIGHOutside partyCounterparty
NextEra Energy (NEE)
“10-K Item 1: 'XPLR does not have any employees and relies solely on employees of affiliates of the manager under the MSA, including employees of NEE and NEER, to serve as officers of XPLR.'”
XIFR · Concentration risk · 10-K extracted
XPLR Infrastructure (XIFR) concentration risks
Updated
The most significant concentration XPLR Infrastructure discloses is NextEra Energy (NEE), classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: XPLR Infrastructure’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH2
MEDIUM0
LOW2
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inCommodity
wind generation
“10-K Item 1: 'During 2025, XPLR OpCo generated approximately 26.0 million MWh and 4.0 million MWh from wind and solar generation facilities, respectively, and discharged 0.4 million MWh from its battery storage projects.'”
LOWOutside partyCustomer
15%
Southern California Edison Company
“10-K Item 1: 'In 2025, XPLR derived approximately 14% and 15% of its consolidated revenues from its contracts with Pacific Gas and Electric Company and Southern California Edison Company, respectively.'”
LOWOutside partyCustomer
14%
Pacific Gas and Electric Company
“10-K Item 1: 'In 2025, XPLR derived approximately 14% and 15% of its consolidated revenues from its contracts with Pacific Gas and Electric Company and Southern California Edison Company, respectively.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06XPLR Infrastructure's concentration risk spans operational dependency, resource mix, and customer counterparties. The partnership has no employees of its own and relies on NextEra Energy and NEE affiliates under a management services agreement to serve as its officers — a high-share dependency that makes XPLR's governance and operations inseparable from its external manager. On the asset side, generation is heavily weighted toward wind: in 2025, XPLR OpCo generated approximately 26.0 million MWh from wind versus 4.0 million MWh from solar and 0.4 million MWh discharged from battery storage, a high-share structural exposure to wind resource variability. On the customer side, two utilities account for a smaller, low-share portion of revenue: Southern California Edison Company contributed approximately 15% and Pacific Gas and Electric Company approximately 14% of consolidated revenues in 2025. The manager dependency and the wind-generation mix are the two exposures most capable of moving the verdict, since both touch the entirety of the business rather than a single contract, while the utility customer concentration, though real, is disclosed at a comparatively lower share and split across two counterparties rather than one.
For the engine’s reasoning on XIFR’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Utilities - Renewable
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CWEN | Clearway Energy, Inc. | 2 | 0 | 2 | 4 |
| XIFR● | XPLR Infrastructure, LP | 2 | 0 | 2 | 4 |
| ORA | Ormat Technologies, Inc. | 1 | 1 | 2 | 4 |
| NRGV | Energy Vault Holdings, Inc. | 1 | 1 | 0 | 2 |
| MWH | SOLV Energy, Inc. | 1 | 0 | 0 | 1 |
| FLNC | Fluence Energy, Inc. | 0 | 1 | 1 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.