Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 324

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 324
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 100,572      100,572  
  Contracted generation as a % of total generation on a proportionate basis          88%          87%          83%          80%          78%  
  Price per MWh – total generation on a proportionate basis                            $            $            $            $            $  

(1) Includes generation of 1,045 GWh for 2025, 1,030 GWh for 2026, 506 GWh for 2027, and 47 GWh for 2028 secured under financial contracts.

Weighted-average remaining power contract durations on a proportionate basis are 14 years in North America, 18 years in Europe, 9 years in Brazil, 5 years in Colombia, and 18 years across our remaining jurisdictions.

In North America, over the next five years, a number of contracts will expire at our hydroelectric facilities. Based on current market prices for energy and ancillary products, we expect a net positive impact to cash flows.

In our Colombian portfolio, we continue to focus on securing long-term contracts while maintaining a certain percentage of uncontracted generation so as to mitigate hydrology risk.

The majority of Brookfield Renewable’s long-term power purchase agreements within our North American and European businesses are with investment-grade rated or creditworthy counterparties. The economic exposure of our contracted generation on a proportionate basis is distributed as follows: power authorities (33%), distribution companies (23%), commercial and industrial users (33%), and Brookfield (11%).

PART 5 - LIQUIDITY AND CAPITAL RESOURCES

CAPITALIZATION

A key element of our financing strategy is to raise the majority of our debt in the form of asset-specific, non-recourse borrowings at our subsidiaries on an investment-grade basis with no maintenance covenants. Substantially all of our debt is either investment grade rated or sized to investment grade and approximately 91% of debt is non-recourse.

The following table summarizes our capitalization as at December 31:

                                                       Corporate                 Consolidated              
  (MILLIONS, EXCEPT AS NOTED)                          2024           2023               2024        2023  
  Corporate credit facility (1)                        $              $                     $           $  
  Commercial paper (1)                                 431            183                 431         183  
  Debt                                                                                                     
  Medium-term notes (2)                                3,008          2,660             3,008