Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 217

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 3
Chunk 217
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 our Preferred Units and to allow us to pay expenses as they become due. See Item 4. B “ Business Overview - Our LP Unit Distribution Reinvestment Plan”.

Our payout ratio may in some periods exceed our target. If this were to occur for a sustained period of time, it could impact our ability to maintain or grow our distributions to Unitholders.

BEP’s payout ratio is a measure of its ability to make cash distributions to Unitholders. BEP targets a long-term payout ratio of 70% of Funds From Operations. From time to time BEP’s payout ratio may exceed this target, during periods of lower generation or lower merchant power prices or combination thereof. Because our business is partly dependent on generation conditions and merchant power prices, as well as other factors beyond our control, it is possible that our payout ratio may remain above our target for a sustained period. If this were to occur, it could impact our ability to maintain or grow our distributions to Unitholders in line with our stated targets.

Non-U. S. LP Unitholders may be subject to foreign currency risk associated with BEP’s distributions.

A significant number of BEP’s LP Unitholders may reside in countries where the U. S. dollar is not the functional currency. Our distributions are denominated in U. S. dollars but may be settled in the local currency of the LP Unitholder receiving the distribution. For each non-U. S. LP Unitholder, the value received in the local currency from the distribution will be determined based on the exchange rate between the U. S. dollar and the applicable local currency at such time. As such, if the U. S. dollar depreciates significantly against the local currency of the non-U. S. LP Unitholder, the value received by such LP Unitholder in its local currency will be adversely affected.

BEP is a “foreign private issuer” under U. S. securities laws and is therefore subject to disclosure obligations different from requirements applicable to U. S. domestic registrants listed on the NYSE.

Although BEP is subject to the periodic reporting requirements of the Exchange Act, the periodic disclosure required of foreign private issuers under the Exchange Act is different from periodic disclosure required of U. S. domestic registrants. Therefore, there may be less publicly available information about BEP than is regularly published by or about other public companies in the U. S. BEP is exempt from certain other sections of the Exchange Act to which U. S. domestic issuers are