February 14 (Renewables Now) - Canada’s Brookfield Asset Management Inc (NYSE:BAM) reported 2019 funds from operations (FFO) of USD 333 million (EUR 306.8m) from its renewable power business, which accounted for 8% of total FFO last year.
Fourth-quarter FFO from renewables halved to USD 66 million, but the full-year result was up by 1.5%.
Brookfield Asset Management owns 100% of renewables yieldco TerraForm Global and a majority stake in TerraForm Power Inc (NASDAQ:TERP). Last month it proposed to buy the remaining 38% stake in the latter.
The table contains details of BAM’s results for 2019.
|Results in USD million||Q4 2019||Q4 2018||2019||2018|
|- of which from renewable power||66||114||333||328|
|- of which from asset management||529||393||1,597||1,317|
|- of which from real estate||348||677||1,185||1,786|
Brookfield Asset Management has over USD 540 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit.