Brookfield Renewable Partners, a leading renewable power company, announced a profit of $35 million for the final quarter of last year. In comparison, the company had reported a loss of $82 million for the same period in the previous year.
Increased Funds from Operations
The company, which is a publicly traded subsidiary of Brookfield Asset Management, reported funds from operations of 38 cents per unit, up from 35 cents per unit in the corresponding period the previous year. These figures align with the mean forecast of analysts surveyed by FactSet.
Strong Increase in Revenue
Brookfield Renewable recorded a substantial 11% increase in quarterly revenue, totaling $1.32 billion.
Record Capital Deployment
Over the past year, the company has successfully deployed or agreed to use a record $9 billion of capital. Out of this amount, $2 billion was net to Brookfield Renewable, which includes significant acquisitions such as Westinghouse, Deriva Energy, and an additional 50% stake in X-Elio.
Future Deployment Plans
Despite not securing the necessary shareholder support for the proposed takeover of Australia’s Origin Energy, Brookfield Renewable remains committed to its long-term goals. The company aims to deploy $7 billion to $8 billion over the next five years.