Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 559

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 559
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 prices as of December 31, 2024, unrealized losses of $ 35 53 50

The following table summarizes the interest rate hedges designated as hedging instruments:

  Interest rate hedges                                                      December 31, 2024      December 31, 2023             
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Carrying amount (asset/(liability))                                       149                                  148             
  Notional amount – $                                                                                          2,220      1,633  
  Notional amount – C$ (1)                                                  294                                  326             
  Notional amount – € (1)                                                                                      1,001      1,204  
  Notional amount – £ (1)                                                   —                                    312             
  Notional amount – COP (1)                                                 92                                   196             
  Maturity dates                                                            2025-2061                      2024-2061             
  Hedge ratio                                                               1:1                                  1:1             
  Change in discounted spot value of outstanding hedging instruments        ( 11)                             ( 124)             
  Change in value of hedged item used to determine hedge effectiveness      13                                   124             

(1) Notional amounts of foreign currency denominated interest rate hedges are presented at the U. S. dollar equivalent value based on the December 31, 2024 foreign currency spot rate.

The hedge ineffectiveness loss recognized within foreign exchange and financial instruments gain (loss) in the consolidated statements of income (loss) related to interest rate contracts (cash flow hedges) for the year ended December 31, 2024 was $ 1 nil 5

(e) Foreign exchange swaps

Brookfield Renewable has entered into foreign exchange swaps to minimize its exposure to currency fluctuations impacting its investments and earnings in foreign operations, and to fix the exchange rate on certain anticipated transactions denominated in foreign currencies.

There is an economic relationship between the hedged item and the hedging instrument as the net investment or anticipated foreign currency transaction creates a translation risk that will match the respective hedging instrument.

  F - 49  

Brookfield Renewable established a hedge ratio of 1:1 as the underlying risk of the hedging instrument is identical to the hedged risk component.

Certain Brookfield subsidiaries that Brookfield Renewable controls, through a voting agreement, have entered into Master Hedge Agreements appointing Brookfield as their agent in entering into certain derivative