Log In

Reset Password

Brookfield Renewable posts $32m loss

Connor Teskey, CEO of Brookfield Renewable

Brookfield Renewable Partners LP has reported funds from operations of $275 million or $0.43 per unit for the first quarter of the year, a 13 per cent increase on a per unit basis over the same period in 2022.

Brookfield said the results reflect robust hydro generation across its portfolio, strong realised power pricing and asset availability, and contributions from growth.

After deducting non-cash depreciation and other expenses, the net loss attributable to unit holders was $32 million.

That compares with a net loss of $78 million in the prior year period.

Connor Teskey, CEO of Brookfield Renewable, said: “We had an excellent start to the year delivering solid double digit FFO growth year-over-year.

“We also continued our elevated level of growth activity, as we commissioned approximately 700 megawatts of capacity, maintained our path to deliver approximately 5,000 megawatts this year, and signed transactions for over $8 billion of equity investment alongside our institutional partners.”

Brookfield said its balance sheet is in an excellent position and its available liquidity remains robust at almost $4 billion, providing significant flexibility to fund growth.

Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, utility-scale solar and storage facilities in North America, South America, Europe and Asia.

Investors can access its portfolio either through Brookfield Renewable Partners, a Bermuda-based limited partnership, or Brookfield Renewable Corporation, a Canadian corporation.

You must be Registered or to post comment or to vote.

Published May 09, 2023 at 7:34 am (Updated May 09, 2023 at 7:34 am)

Brookfield Renewable posts $32m loss

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon