Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 316

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 316
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,809       3,974               55             151       172             130       146  
  Colombia                          2,950       3,408               82             176       175              81        76  
  Total                            17,580      18,985                $               $         $               $         $  

(1) Average revenue per MWh was adjusted to net the impact of power purchases and any revenue with no corresponding generation.

(2) Non-IFRS measures. For reconciliations to the most directly comparable IFRS measure see “ Reconciliation of Non-IFRS Measures” in this Management’s Discussion and Analysis.

North America

Funds From Operations at our North American business were $300 million in 2024 versus $402 million in the prior year as the benefit from recontracting initiatives and inflation indexation on our contracted generation was offset by weaker hydrology, lower average revenue per MWh in the U. S. due primarily to generation mix and the weakening of the Canadian dollar versus the U. S. dollar.

Brazil

Funds From Operations at our Brazilian business were $130 million in 2024 versus $146 million in the prior year. On a constant currency basis, Funds From Operations increased as the benefit of inflation indexation of our contracts was partially offset by less favorable hydrology conditions and commercial initiatives that benefited the prior year.

Colombia

Funds From Operations at our Colombian business were $81 million in 2024 versus $76 million in the prior year as we benefited from higher average revenue per MWh due to recontracting initiatives, inflation indexation on contracted generation, and higher pricing realized on our uncontracted generation, partially offset by lower resources.

WIND OPERATIONS ON A PROPORTIONATE BASIS

The following table presents our proportionate results for wind operations for the year endedDecember 31:

  (MILLIONS, EXCEPT AS NOTED)       2024                  2023             
 ───────────────────────────────────────────────────────────────────────────
  Revenue                              $        629          $        511  
  Other income                       235                   146             
  Direct operating costs           (233)                 (164)             
  Adjusted EBITDA (1)                631                   493             
  Interest expense                 (130)                 (105)             
  Current income taxes              (17)                   (6)             
  Funds From Operations                $        484          $