Brookfield Renewable (BEPC) Q4 2025 earnings summary

Executive summary

• Achieved strong financial and operational performance in 2025, with FFO per unit up 10% year-over-year, meeting long-term growth targets.

• Deployed or committed a record $8.9 billion in growth, highlighted by major acquisitions and expanded development activities.

• Signed contracts for over 9 GW of generation capacity and brought online 8 GW of new capacity globally, a company record.

• Strengthened balance sheet, ending the year with $4.6 billion in available liquidity.

Financial highlights

• Fourth quarter FFO was $346 million, up 14% year-over-year, or $0.51 per unit.

• Full year FFO reached $1,334 million, or $2.01 per unit, up 10% year-over-year.

• Hydroelectric segment FFO was $607 million, up 19% from the prior year.

• Wind and solar segments generated $648 million of FFO, supported by acquisitions and new investments.

• Distributed energy storage and sustainable solutions delivered $614 million, up nearly 90% year-over-year.

Outlook and guidance

• Targeting a run rate of 10 GW of new capacity per year by 2027.

• Expecting continued acceleration in demand from corporate buyers, especially hyperscalers, with growth in contracted capacity through 2030.

• Anticipating higher contracted power prices in the hydro portfolio as new long-term contracts are layered in.

• Focused on delivering 12%-15% long-term total returns for investors.