Brookfield Renewable Partners LP
2Q 2025 Earnings Recap
By Damien Chua•8/2/2025•Energy
Key Points
Hydroelectric, Distributed Energy, and Sustainable Solutions segments outperform, while Wind and Solar were in-line. The Hydroelectric segment outperformed y/y mainly driven by the US and Colombian fleets, with above-LTA hydrology. The Wind and Solar segments were flat y/y, with newly commissioned capacity and the closing of the investment in National Grid's renewables business in the US during the quarter, offset by lower FFO due to asset dispositions and gains on the sale of development assets in the prior year.
Previously announced that it has signed the first of its kind Hydro Framework Agreement (HFA) with Google to deliver up to 3,000 MW of hydroelectric capacity in the US.
Committed or deployed up to $2.6bn (~$1.1bn net to BEP) across multiple investments.
Continued to execute asset recycling program, generating ~$1.5bn (~$400mm net to BEP) in expected proceeds since the start of 2Q25.
Ended the quarter with ~$4.7bn in liquidity. In 2Q25, BEP issued C$250mm of 30-year hybrid notes at the tightest corporate hybrid new issue spread and reset spread ever in Canada. BEP also executed a €6.3bn project financing for Polenergia’s offshore wind development in Poland.
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Financials
