Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 317

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 317
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382  
  Generation (GWh) – LTA                      9,604                 7,865  
  Generation (GWh) – actual                   8,276                 6,367  

(1) 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.

Funds From Operations at our wind business were $484 million in 2024 versus $382 million in the prior year as we benefited from newly acquired and commissioned facilities, stronger generation on a same store basis and gains related to the partial sale of North American development assets and the sale of a European development portfolio, partially offset by gains on the sale of development assets that benefited the prior year.

UTILITY-SCALE SOLAR OPERATIONS ON A PROPORTIONATE BASIS

The following table presents our proportionate results for utility-scale solar operations for the year ended December 31:

  (MILLIONS, EXCEPT AS NOTED)       2024                  2023             
 ───────────────────────────────────────────────────────────────────────────
  Revenue                              $        416          $        365  
  Other income                       180                   106             
  Direct operating costs           (132)                  (99)             
  Adjusted EBITDA (1)                464                   372             
  Interest expense                 (114)                 (110)             
  Current income taxes               (1)                   (1)             
  Funds From Operations                $        349          $        261  
  Generation (GWh) – LTA                      4,365                 3,123  
  Generation (GWh) – actual                   3,712                 2,489  

(1) 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.

Funds From Operations at our utility-scale solar business were $349 million in 2024 versus $261 million in the prior year, as we benefited from newly acquired and commissioned facilities, stronger generation on a same store basis, gains related to the sale of certain North American development assets and a European development portfolio, partially offset by gains on the sale of development assets that benefited the prior year.

DISTRIBUTED ENERGY & STORAGE OPERATIONS ON A PROPORTIONATE BASIS

The following table presents our proportionate results for distributed energy & storage business for the