Brookfield Renewable Partners LP (NYSE:BEP), which has over 10 GW of hydro and wind, reported normalised funds from operations (FFO) of USD 170 million (EUR 143m) for the second quarter of 2017, up by 9.7% on a year ago.
Assets in the US, Canada and Colombia, and wind farms in Brazil recorded above-average generation. The European business achieved strong availability. Total generation jumped to 11,618 GWh from 8,792 GWh.
The unaudited quarterly results of Brookfield Renewable Partners, released today, are in the table.
|All in USD million
|Net income (loss)
|Total generation (in GWh)
|- of which company’s share (in GWh)
Brookfield Renewable’s current liquidity position exceeds USD 2 billion, including proceeds of recent equity issuance.
“We maintain conviction that we can continue to deliver 5% to 9% distribution growth based on organic levers within our business,” the company said.
In the third quarter of 2017, Brookfield has agreed to buy 25% in a 2.1-GW pumped storage portfolio in the UK. Important milestones have also been met for the completion of the deals for TerraForm Power and TerraForm Global. The transactions are still seen to close this year.
The proprietary development pipeline of the firm is seen to add roughly USD 40 million to USD 50 million to its annual FFO in the next three years, counting projects under construction or construction-ready, it said.
(USD 1 = EUR 0.84)
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