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olivLaw · US equity research

Brookfield Renewable Partners L.P. BEP

Electric Services · SIC 4911 · Vertical: Electric Services (SIC 4911)

30.91USD+2.01% · 1 dayClose 04 Nov 2026

Brookfield Renewable Partners is one of the largest publicly traded renewable power and transition platforms in the world, with operating assets across more than a dozen countries and capacity that keeps expanding. The company matters now because its large 2025 investments, including the Neoen acquisition, and rising demand for clean power from major technology buyers could support its long-term growth.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, Brookfield Renewable Partners L.P. (BEP) stock was 30.91 USD (+2.01% on the day), with market capitalisation 8.5 bn USD, beta 0.71, 52-week range 26.67–37.31 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
8.5 bn USD
shares as of 31 Dec 2021
P/E (TTM)
unavailable
Diluted EPS TTM -0.25 · TTM to 31 Dec 2025
E/P (TTM)
-0.81%
TTM to 31 Dec 2025
Dividend yield
unavailable
Beta (2y)
0.71
Volatility (1y) 28%
52-week range
26.6737.31

Price history

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Technical reading

RSI (14)
63.9
strong (55–70)
Bollinger (20, 2)
27.56 – 30.47
above the upper band · %B 1.15 · band width 10.0%
SMA 50 / 200
29.55 / 32.11
mixed trend
MACD (12, 26, 9)
0.16 / -0.14
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+9.5%−2.0%+11.5 pp—
3 months−5.5%−2.2%−3.3 pp—
6 months−10.4%+4.3%−14.6 pp—
Year to date+14.6%+10.6%+4.0 pp—
1 year−1.2%+10.5%−11.6 pp−2.5%
3 years+34.0%+73.7%−39.7 pp+41.9%
5 years−22.0%+61.7%−83.7 pp—
Max drawdown (1y)
−25.3%
28 May 2026 → 28 Sept 2026
Max drawdown (5y)
−51.5%
30 Mar 2022 → 16 Apr 2024
Compound annual growth (5y)
−4.8%
S&P 500 +10.1%

Price returns, dividends excluded.

Quarterly results

Quarterly statements · USD

Fiscal yearQ3 '21
Share repurchases200.0 m

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year⚠ 20182019202020212022202320242025
Revenue3.8 bn4.0 bn3.8 bn4.1 bn4.7 bn5.0 bn5.9 bn6.4 bn
Revenue YoY—+4.6%−4.1%+7.5%+15.0%+6.9%+16.6%+9.0%
Net income23.0 m-88.0 m-184.0 m-191.0 m-166.0 m-91.0 m-255.0 m-71.0 m
Net income YoY—−482.6%unavailableunavailableunavailableunavailableunavailableunavailable
Diluted EPSunavailable-0.26-0.61-0.69-0.60-0.32-0.89-0.25
Diluted EPS YoY—unavailableunavailableunavailableunavailableunavailableunavailableunavailable
net %0.6%-2.2%-4.8%-4.7%-3.5%-1.8%-4.3%-1.1%
Free cash flow1.0 bn1.1 bn849.0 m-1.2 bn-479.0 m-944.0 m-2.5 bn-5.4 bn

The series breaks before 2018: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
2.1 bn USD
Financial debt
3.7 bn USD
Net debt
1.6 bn USD
Equity
35.0 bn USD
Total assets
98.7 bn USD
Debt / equity
0.11x
Current ratio
0.57x
ROE
-0.2%
ROA
-0.1%
FCF margin
-84.9%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
5.0 bn
2024
5.9 bn
2025
6.4 bn

SEC (XBRL)· 27 Feb 2026verified

Income tax
2023
-48.0 m
2024
-191.0 m
2025
-614.0 m

SEC (XBRL)· 27 Feb 2026verified

Net income
2023
-91.0 m
2024
-255.0 m
2025
-71.0 m

SEC (XBRL)· 27 Feb 2026verified

Diluted EPS
2023
-0.32
2024
-0.89
2025
-0.25

SEC (XBRL)· 27 Feb 2026verified

Balance sheet · USD

Cash
2023
1.1 bn
2024
3.1 bn
2025
2.1 bn

SEC (XBRL)· 27 Feb 2026verified

Receivables
2023
1.5 bn
2024
2.1 bn
2025
2.5 bn

SEC (XBRL)· 27 Feb 2026verified

Inventories
2023
111.0 m
2024
154.0 m
2025
177.0 m

SEC (XBRL)· 27 Feb 2026verified

Current assets
2023
4.6 bn
2024
8.8 bn
2025
12.3 bn

SEC (XBRL)· 27 Feb 2026verified

Property, plant & equipment, net
2023
64.0 bn
2024
73.5 bn
2025
70.5 bn

SEC (XBRL)· 27 Feb 2026verified

Goodwill
2023
1.9 bn
2024
5.4 bn
2025
6.0 bn

SEC (XBRL)· 27 Feb 2026verified

Intangibles (excl. goodwill)
2023
15.0 m
2024
10.0 m
2025
—

SEC (XBRL)· 28 Feb 2025verified

Total assets
2023
76.1 bn
2024
94.8 bn
2025
98.7 bn

SEC (XBRL)· 27 Feb 2026verified

Accounts payable
2023
1.5 bn
2024
2.1 bn
2025
2.2 bn

SEC (XBRL)· 27 Feb 2026verified

Short-term debt
2023
183.0 m
2024
709.0 m
2025
194.0 m

SEC (XBRL)· 27 Feb 2026verified

Long-term debt
2023
2.7 bn
2024
3.1 bn
2025
3.5 bn

SEC (XBRL)· 27 Feb 2026verified

Current liabilities
2023
8.0 bn
2024
14.6 bn
2025
21.7 bn

SEC (XBRL)· 27 Feb 2026verified

Total liabilities
2023
46.1 bn
2024
58.4 bn
2025
63.7 bn

SEC (XBRL)· 27 Feb 2026verified

Equity
2023
30.0 bn
2024
36.5 bn
2025
35.0 bn

SEC (XBRL)· 27 Feb 2026verified

Shares outstanding at year end
2023
—
2024
—
2025
—

SEC (XBRL)· 01 Mar 2022verified

Cash flow · USD

Operating cash flow
2023
1.9 bn
2024
1.3 bn
2025
1.1 bn

SEC (XBRL)· 27 Feb 2026verified

Capex
2023
2.8 bn
2024
3.7 bn
2025
6.6 bn

SEC (XBRL)· 27 Feb 2026verified

Free cash flow
2023
-944.0 m ≈
2024
-2.5 bn ≈
2025
-5.4 bn ≈

SEC (XBRL)· 27 Feb 2026derived

Investing cash flow
2023
-4.4 bn
2024
-6.8 bn
2025
-8.6 bn

SEC (XBRL)· 27 Feb 2026verified

Financing cash flow
2023
2.6 bn
2024
7.6 bn
2025
6.4 bn

SEC (XBRL)· 27 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
9.0%
computed by olivLawFY 2025
Revenue CAGR 3Y
10.8%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
11.0%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
unavailable
input data missing
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
unavailable
the base of the ratio is not positive

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
unavailable
input data missing
EBIT margin
unavailable
input data missing
Net margin
-1.1%
computed by olivLawFY 2025
FCF margin
-84.9%
computed by olivLawFY 2025

Returns

ROE
-1.9%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROA
-0.1%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROIC
unavailable
input data missing
ROCE
unavailable
input data missing
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
1.6 bn USD
computed by olivLawbalance sheet at 31 Dec 2025
Net debt / EBITDA
unavailable
input data missing
Debt / equity
0.9x
computed by olivLawbalance sheet at 31 Dec 2025
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
0.6x
computed by olivLawbalance sheet at 31 Dec 2025
Quick ratio
0.6x
computed by olivLawbalance sheet at 31 Dec 2025
Cash ratio
0.1x
computed by olivLawbalance sheet at 31 Dec 2025

Cash

Operating cash flow
1.1 bn USD
computed by olivLawFY 2025
Capital expenditure
6.6 bn USD
computed by olivLawFY 2025
Free cash flow
-5.4 bn USD
computed by olivLawFY 2025
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
133 days
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Days payables outstanding
unavailable
input data missing

Market and valuation

Market capitalisation
8.5 bn USD
computed by olivLawbalance sheet at 31 Dec 2025
Enterprise value
10.1 bn USD
computed by olivLawbalance sheet at 31 Dec 2025
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-0.8%
computed by olivLawFY 2025
P/B
2.1x
computed by olivLawbalance sheet at 31 Dec 2025
P/S
1.3x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
1.6x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-64.0%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

3 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 3 of at least 6
  • score weight coverage: 17.0% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

30.91 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 8.5 bn USD

Key indicators

Market capitalisation
8.5 bn USD
computed by olivLawbalance sheet at 31 Dec 2025
P/E (TTM)
unavailable
insufficient data
P/B
2.1x
computed by olivLawbalance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
ROE
-1.9%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Net margin
-1.1%
computed by olivLawFY 2025
Revenue growth (YoY)
9.0%
computed by olivLawFY 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

24/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 31 Dec 2025
Latest balance sheet date: 31 Dec 2025
Share count (cover of the latest filing), as of: 31 Dec 2021
Source: SEC (XBRL)published 27 Feb 2026
verified 241

Score by group

17% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
  • Peers: EV/EBITDAunavailable · input data missing
  • Peers: P/Eunavailable · the base of the ratio is not positive

no valuation method could be computed

Multiple comparisons use the SIC vertical: Electric Services (SIC 4911)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 3 of at least 6; score weight coverage: 17.0% of at least 60%; valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality-1.1%17 (vs peers)38%
Revenue CAGR 3Y · Growth10.8%100 (on a fixed band)38%
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheetunavailableunavailable—
Current ratio · Balance sheet0.6x0 (on a fixed band)25%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
Dividend yield · Returnsunavailableunavailable—
Payout ratio (EPS) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial0/100 · 1/3 factors with a value
  • Growth· partial100/100 · 1/2 factors with a value
  • Quality· partial17/100 · 1/2 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation· partialunavailable · 0/2 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

BROOKFIELD RENEWABLE PARTNERS L.P. (BEP). Latest full fiscal year: 2025; data up to 2025-12-31.

Figures computed from the financial statements: revenue 6.4 bn USD in 2025; YoY growth 9.0%; net margin -1.1%; ROE -1.9%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 17.0% of at least 60%; valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Revenue CAGR 3Y: 10.8%

What contradicts it

  • Net margin: -1.1%
  • Current ratio: 0.6x

Not assessed (insufficient data or a ratio without meaning): ROIC, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Dividend yield, Payout ratio (EPS).

Versus the vertical median

Electric Services (SIC 4911) · same industry (4-digit SIC) · compared with 39 companies

Multiples and returns vs the median

P/E
—
vertical median 23.0x
EV/EBITDA
—
vertical median 12.2x
P/S
1.3x
vertical median 3.0x
below median (−55.1%)
P/B
2.1x
vertical median 2.1x
at median
ROE
-1.9%
vertical median 9.1%
below median (−120.5%)
Net margin
-1.1%
vertical median 11.1%
below median (−110.0%)
EBIT margin
—
vertical median 21.1%
Revenue YoY
9.0%
vertical median 8.3%
above median (+8.7%)
Net debt/EBITDA
—
vertical median 4.8x
Dividend yield
—
vertical median 3.2%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
NEENextera Energy Inc175.9 bn21.415.6%31.5%+9.8%−2% / +44%
SOSouthern Co105.7 bn24.011.3%14.5%+10.6%+3% / +32%
CEGConstellation Energy Corporation93.3 bn25.715.3%11.1%+8.3%−28% / +118%
PAMPampa Energy Inc.88.2 bn141.021.8%33.0%+8.3%−28% / +38%
AEPAmerican Electric Power Company, Inc.70.7 bn19.012.8%16.9%+10.9%+5% / +63%
DDominion Energy, Inc58.7 bn19.810.5%16.9%+14.2%+6% / +47%
ETREntergy Corp49.9 bn27.711.1%13.6%+9.0%+12% / +115%
VSTVistra Operations Company LLC46.9 bn23.043.1%11.6%+3.0%−22% / +294%
CNPCenterpoint Energy Inc27.8 bn26.19.6%11.4%+8.3%+6% / +50%
FEFirstenergy Corp27.3 bn25.78.4%6.9%+12.0%−1% / +28%
PPLPPL Corp26.9 bn21.88.3%13.1%+6.9%−3% / +37%
ESEversource Energy26.0 bn17.99.1%10.4%+13.8%+3% / +16%
EIXEdison International22.9 bn6.320.8%19.6%+9.8%+1% / −11%
NRGNRG Energy, Inc20.2 bn24.923.8%2.6%+9.2%−43% / +101%
TLNTalen Energy Corporation15.5 bn—-16.7%-6.4%+22.0%−9% / +523%
PNWPinnacle West Capital Corporation12.8 bn19.89.1%11.7%+4.2%+16% / +41%
ENLTEnlight Renewable Energy Ltd.8.9 bn67.79.2%27.0%+29.3%+69% / +293%
IDAIDACORP, Inc.8.7 bn23.29.9%20.5%−1.2%+12% / +53%
BEPBrookfield Renewable Partners L.P.8.5 bn—-1.9%-1.1%+9.0%−1% / +34%
CWENClearway Energy, Inc.7.3 bn72.61.8%6.4%+4.2%−2% / +43%
TXNMTXNM Energy, Inc.6.5 bn41.15.5%7.5%+9.9%+0% / +41%
BKHBlack Hills Corporation6.4 bn21.37.9%13.0%+8.6%+14% / +63%
PORPortland General Electric Company5.5 bn19.76.6%7.7%+4.0%−9% / +12%
OKLOOklo Inc.4.1 bn—-7.7%—unavailable−76% / +114%
OTTROtter Tail Corporation3.5 bn18.110.7%14.9%−2.3%+2% / +10%

1- and 3-year price returns: for BEP from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
3 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
5 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
What moves the 3-year price the most

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 27 Feb 2026; since then the company filed 6-K (30 Oct 2026), 6-K (13 Oct 2026), 6-K (31 Aug 2026), 6-K (24 Aug 2026), 6-K (21 Aug 2026), 6-K (31 Jul 2026).

    In brief

    Brookfield Renewable Partners is one of the largest publicly traded renewable power and transition platforms in the world, with operating assets across more than a dozen countries and capacity that keeps expanding. The company matters now because its large 2025 investments, including the Neoen acquisition, and rising demand for clean power from major technology buyers could support its long-term growth 1.

    SWOT

    Strengths

    • A geographically and technologically diversified portfolio with long-term contracts indexed to inflation supports predictable cash flows 1.
    • An investment grade credit rating and access to multiple funding sources, including record financings in 2025 1.
    • Solid operating experience and a demonstrated ability to acquire and integrate large assets such as Neoen 1.

    Weaknesses

    • Net losses attributable to Unitholders in 2025, although smaller than in the prior year 1.
    • Dependence on hydrology and spot prices in some markets where contracts do not cover all output 1.
    • High interest expense and some floating rate debt in regions outside North America and Europe 1.

    Opportunities

    • Rising demand for clean power from large technology buyers could open new long-term contracts 1.
    • The large development pipeline could be monetized if projects reach commercial operation at attractive returns 1.
    • Asset sales to institutional buyers could create a recurring source of liquidity for new investments 1.

    Threats

    • Higher interest rates or tighter access to financing could raise the cost of new projects and reduce their returns 1.
    • Changes in energy or tax policy in operating countries could alter contract terms and incentives 1.
    • Competition for assets and projects could push acquisition prices up and compress investment returns 1.

    Risks

    • Financing and interest rate riskmedium

      The company relies on non-recourse financing and bond issuance. A rise in the cost of capital could reduce its ability to fund new projects 1.

    • Hydrology and price riskmedium

      Hydro revenues depend on water availability. Unfavourable conditions could reduce generation and revenues in certain regions 1.

    • Project execution riskmedium

      Development projects may be delayed or exceed budget. Delays could postpone capacity delivery and the cash flows tied to it 1.

    • Policy and regulatory riskhigh

      Changes in energy, tax or regulatory policy in operating countries could affect contracts and asset returns 1.

    • Counterparty and currency risklow

      Although most contracts are with creditworthy counterparties, non-payment or moves in local currencies against the dollar could affect reported revenues 1.

    Investment thesis

    What would need to be true (bull case)

    • If demand for clean power keeps growing and the company brings its pipeline projects online, operating cash flows could grow in a sustained way 1.
    • Inflation-indexed contracts with long durations could provide a stable base for sustainable distributions 1.
    • The asset rotation cycle could generate liquidity for new investments with better returns, if the planned sales close as expected 1.

    What would break the thesis

    • If interest rates stay high, the cost of financing could weigh on margins and on the capacity to sustain the growth pace 1.
    • Hydro revenues could fall in periods of unfavourable hydrology, which could pressure reported results 1.
    • Recent net losses and dependence on new acquisitions could limit earnings gains for unitholders in coming periods 1.

    What to watch

    • Closing of the 2.3 GW U.S. portfolio sale and the reinvestment plans that followfirst half of 2026
    • Evolution of Funds From Operations per unit and progress toward the annual commissioning run rate2026
    • Average cost of financing and the share of floating rate debtnext 10-K
    • U.S. Government investment decisions related to Westinghouse reactors2027

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 27 Feb 2026; since then the company filed 6-K (30 Oct 2026), 6-K (13 Oct 2026), 6-K (31 Aug 2026), 6-K (24 Aug 2026), 6-K (21 Aug 2026), 6-K (31 Jul 2026).

    The business

    Brookfield Renewable invests directly, alongside institutional partners and through joint ventures, in renewable power and sustainable solutions assets. Its power portfolio has about 47,200 MW of operating capacity and annualized LTA generation of about 121,900 GWh, with renewables making up over 96% of operating capacity 1. Revenues were 6,407 million USD in 2025 and Funds From Operations were 1,334 million USD 1.

    The company targets sustainable long-term distributions with a payout ratio of about 70% of Funds From Operations and annual distribution growth of 5% to 9%. About 90% of its 2026 proportionate generation is contracted, with a weighted-average remaining duration of 13 years with creditworthy counterparties 1. The LP units trade on the TSX and NYSE under BEP, and the BEPC exchangeable shares give investors a second route into the portfolio 1.

    Beyond its power portfolio, the company holds sustainable solutions investments including Westinghouse, a global nuclear services business, and carbon capture and storage, agricultural renewable natural gas, materials recycling and eFuels projects 1. In 2025 it brought about 8 GW of new capacity online and says it is on track to reach a run rate of about 10 GW per year by 2027 1.

    Segments

    Renewable power

    The core segment includes hydroelectric, wind, solar and storage assets across North America, Europe, South America and Asia-Pacific. Total operating capacity is about 47,200 MW and the development pipeline exceeds 200 GW 1.

    Sustainable solutions

    This segment includes the investment in Westinghouse and a utility and independent power producer in the Caribbean and Latin America. In October 2025 the company and its partner agreed with the U.S. Government on a partnership that could accelerate Westinghouse reactor deployment, subject to later investment decisions 1.

    Market context

    The renewable power market is growing, supported by demand from large technology buyers seeking long-term clean power contracts. In July 2025 the company signed a framework agreement with Google to deliver up to 3 GW of hydroelectric capacity in the U.S. by the end of 2032 1. The pace of contracting and investment still depends on financing conditions and energy policy in each country 1.

    Financing remains central: the company completed a record of over 37 billion USD in financings in 2025, and available liquidity at December 31, 2025 was 4,625 million USD 1. Its investment grade BBB+ rating supports access to capital, but the cost of funding remains a sensitive factor in this sector 1.

    Trends

    • Clean power demand from data centrestailwind

      Long-term agreements with large technology companies, such as the one with Google, could support demand for hydro and other renewables. If this demand expands, the company could more easily monetize its development pipeline 1.

    • Asset rotation and portfolio salesmixed

      The company sells minority stakes in mature assets to crystallize value and generate capital for growth. Sales completed in 2025 and planned for 2026 could temporarily reduce the revenue-generating asset base, but could also fund reinvestment in higher-return projects 1.

    • Public policy and the nuclear programmemixed

      The Westinghouse agreement with the U.S. Government could open opportunities for new reactors if later investment decisions materialize. Timing and final value remain uncertain and depend on decisions outside the company 1.

    Competitive position

    The renewable power market is competitive, with global players of comparable scale competing for projects, partnerships and long-term offtake contracts. The company differentiates itself through portfolio scale, access to capital and operating experience, but competition for assets and sale agreements can push acquisition prices higher 1.

    • Utilities with renewable portfolios

      Competitors in markets where the company acquires or develops assets, including utilities with large renewable programmes.

    • Independent power developers

      Companies competing for solar, wind and storage projects, often through auctions and power purchase agreements.

    • Infrastructure funds

      Institutional investors that buy and develop power assets and compete with the company for large transactions.

    • Nuclear power producers and services providers

      Players in the nuclear sector competing for reactor projects and services, relevant to the Westinghouse business.

    News & filings

    Sources

    1. [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Brookfield Renewable Partners L.P. · 27 Feb 2026

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.