Brookfield Renewable Announces Record Financial Performance and Increased Payouts
Toronto, Friday, 31 January 2025.
Brookfield Renewable Partners reported record financial results for 2024, with a significant 5% increase in distribution payouts. This underscores the company’s strategic focus on sustainable energy.
Record Financial Performance
Brookfield Renewable Partners L.P. (BEP) has reported exceptional financial results for the year ended December 31, 2024, with Funds From Operations (FFO) reaching $1,217 million, or $1.83 per Unit, marking a 10% increase from the previous year [1]. The company has demonstrated robust growth despite challenging market conditions, though it reported a net loss attributable to Unitholders of $464 million ($0.89 per unit) for 2024 [1].
Strategic Growth and Development
During 2024, Brookfield Renewable made significant strides in expanding its operational capacity, developing approximately 7,000 megawatts of new capacity and securing contracts to deliver roughly 19,000 GWh of generation [1]. The company made its largest investment commitment to date, deploying or committing $12.5 billion into growth initiatives [1]. With a market capitalization of $13.68 billion as of January 2025 [5], Brookfield Renewable continues to strengthen its position in the renewable energy sector.
Distribution Increase and Future Outlook
In a move that demonstrates confidence in its business model, Brookfield Renewable announced a 5% increase in its annual distribution, raising it to $1.492 per unit [1]. The quarterly distribution of $0.373 per unit will be paid on March 31, 2025, to unitholders of record as of February 28, 2025 [1]. The company’s development pipeline now consists of approximately 200,000 megawatts, with an ambitious target of reaching a ~10,000-megawatt annual development run rate by 2027 [1].
Operational Highlights and Strategic Investments
The company closed several strategic investments in December 2024, including stakes in Infinium, Ørsted, and Neoen [1]. Almost 90% of Brookfield Renewable’s generation is now contracted, with approximately 70% of revenue linked to inflation, helping to expand operating margins [1]. The company maintains a strong liquidity position with over $4.3 billion available, having completed nearly $27 billion in financing during 2024 [1].