Brookfield Renewables to navigate tariffs
Bermudian-based Brookfield Renewable Partners LP has reported a net loss of $108 million for the three months ended March 31, 2025, compared to a $70 million loss in the comparative period last year.
Connor Teskey, CEO of Brookfield Renewable commented: “We had a strong start to the year, delivering record results from our large, highly contracted, global operating fleet, which is now approaching 45,000 megawatts diversified across the lowest cost energy technologies.
“We were also successful advancing our growth initiatives, highlighted by our agreement to acquire National Grid Renewables and completing the privatisation of Neoen.”
Neoen is a producer of solar, wind and storage projects in 15 countries.
Mr Teskey said: “The fundamentals for energy remain strong as investment in digitalisation and de-industrialisation is driving demand growth that far exceeds supply.
“This imbalance persists despite weaker market sentiment due to uncertainty of the impacts of tariffs globally.
The company conceded that sentiment for the renewables sector reflects an elevated level of uncertainty, with investors reacting to tariff announcements, and an evolving business landscape.
But the company said it has contracts and clauses that protect from price input changes.
The earnings release said: “As one of the largest buyers of materials, we are also well equipped to navigate tariffs and supply chain challenges relative to other players in the sector.
“We have a diverse global supply chain that supports our US and worldwide development and have proactively increased consumption of domestic goods in the US through the signing of framework agreements with [original equipment manufacturers] to support the expansion of domestic suppliers.
“The solar sector has been subject to tariffs in the US for several years. This prompted domestic supply chain investment as well as the growth of supply chains outside of China.
“We import an immaterial amount of materials directly from China for our US development activities as a result of our prior efforts to minimise the impact of in-place tariffs. This has us well positioned to navigate the current environment.
“Outside of the US, we expect a positive impact on supply chain availability and input costs. Where US developers were the dominant buyers of materials from Asian and European suppliers, we could see increasing quantities of materials available in those local markets, where local buyers like ourselves could benefit from higher availability and lower pricing.“
Brookfield Renewable operates one of the world’s largest publicly traded platforms for renewable power and decarbonisation solutions. The diversified portfolio consists of hydroelectric, wind, solar, distributed energy and sustainable solutions across five continents.
It is the flagship listed renewable power and transition company of Brookfield Asset Management, the global alternative asset manager with over $1 trillion of assets under management.
• For more on the “Brookfield Renewable Announces Strong First Quarter Results” release, see Related Media
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