BAM's renewables FFO at USD 333m in 2019

Ken Teegardin/CC BY-SA 2.0

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
Net profit 1,638 3,028 5,354 7,488
FFO 1,204 1,356 4,189 4,401
- 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.

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Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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