Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 319

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 319
---
             131       142  
                                   11,603      11,285               77             670       603             402       412  
  Brazil                            3,974       3,828               60             172       167             146       138  
  Colombia                          3,408       4,411               69             175       201              76       117  
  Total                            18,985      19,524                $               $         $               $         $  

(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 $402 million in 2023 versus $412 million in the prior year as the benefit from favorable hydrology conditions in the United States (9% above prior year) and higher average revenue per MWh due to inflation indexation on our contracted generation was offset by lower resources in our high value Canadian markets and higher interest expense due to financing initiatives completed to fund growth.

Brazil

Funds From Operations at our Brazilian business were $146 million in 2023 versus $138 million in the prior year. Excluding a positive ruling that benefited the prior year ($15 million), Funds From Operations was $23 million higher than the prior year due to favorable generation and higher average revenue per MWh due to inflation indexation on contracted generation.

Colombia

Funds From Operations at our Colombian business were $76 million in 2023 versus $117 million in the prior year. On a constant currency basis, Adjusted EBITDA was in-line with the prior year as the benefit from higher average revenue per MWh due to stronger market prices was offset by lower resources as the prior year benefited from well above LTA conditions. This was offset by higher interest expense as a result of accelerated refinancing initiatives completed in the first half of the prior year to fund growth and a weaker Colombian peso versus the U. S. dollar.

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)       2023                  2022             
 ─────────