Brookfield Renewable posts record FFO of USD 210m in Q3

Brookfield Renewable Partners LP (NYSE:BEP), a renewable power platform with roughly 21 GW of assets, on Friday posted a 33.8% year-on-year rise in funds from operations (FFO) thanks to a higher level of availability of its assets and new acquisitions.

Third-quarter FFO stood at an all-time high of USD 210 million (EUR 181.6m), while on a normalised basis, it totalled USD 231 million.

The hydroelectric segment was responsible for almost half of the company’s FFO, contributing USD 142 million. The result marked an increase from USD 107 million a year back because while there was below-average generation in Brazil and Canada, production in the US and Colombia was "favourable". The wind and solar segments, meanwhile, generated a combined USD 130 million, and the energy transition segment brought in USD 48 million.

“We generated record third quarter FFO, and executed on several growth opportunities that demonstrate the value of our global platform, deploying capital across multiple technologies and jurisdictions, enhancing our position as a leading diversified clean energy business," said CEO Connor Teskey.

The net loss attributable to Brookfield Renewable unitholders narrowed to USD 115 million from USD 162 million a year before. More details about the company’s financial performance are available in the table below.

During the July-September quarter, Brookfield Renewable progressed around 8 GW of development projects through construction and advanced permitting. The company also expanded its global development pipeline with 5 GW to a total of 36 GW.

(USD 1.0 = EUR 0.865)

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