Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 570

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 570
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 margin. Non-recourse borrowings in Colombia consist of both fixed and floating interest rates indexed to Indicador Bancario de Referencia rate (“ IBR”), the Banco Central de Colombia short-term interest rate, and Colombian Consumer Price Index (“ IPC”), Colombia inflation rate, plus a margin. Non-recourse borrowings in India consist of both fixed and floating interest indexed to Prime lending rate of lender (“ MCLR”). Non-recourse borrowings in China consist of floating interest rates of People's Bank of China (“ PBOC”). Non-recourse borrowings in Australia consist of both fixed and floating interest rates indexed to the Bank Bill Swap Bid Rate (“ BBSY”).

Brookfield Renewable has completed an assessment and implemented its transition plan to address the impact and effect changes as a result of amendments to the contractual terms for the replacement of the Canadian Dollar Offered Rate (“ CDOR”) with CORRA referenced floating-rate borrowings, interest rate swaps, and updating hedge designations. The adoption did not have a significant impact on Brookfield Renewable’s financial reporting

As at December 31, 2024, Brookfield Renewable’s floating rate borrowings have not been materially impacted by CORRA reforms.

The composition of non-recourse borrowings as at December 31 is presented in the following table:

                                                                    December 31, 2024                                                                   December 31, 2023                          
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                     Weighted-average                                                                    Weighted-average                          
  (MILLIONS EXCEPT AS NOTED)                       Weighted-average interest rate (%)      Carrying value                              Weighted-average interest rate (%)                          
  Non-recourse borrowings (1)(2)                                                                                                                                                                   
  Hydroelectric                                                                   7.0      $                    9,484       9,363                                     7.8       9,468       9,292  
  Wind                                                                            5.9                          10,228      10,224                                     6.1       6,866       6,922  
  Utility-scale solar                                                             6.3                           7,275       7,250                                     6.2       5,868       5,879  
  Distributed energy & storage (3)                                                5.8                           3,722       3,630                                     6.2       3,035       2,963  
  Sustainable solutions                                                           6.5