Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 275

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 4
Chunk 275
---
-price, inflation linked contracts, our unique hydro-focused portfolio with a low-cost structure, and a prudent financing strategy focused on non-recourse debt with an investment grade balance sheet. Accordingly, we believe that we have a high degree of predictability in respect of revenue and costs on a per MWh basis.

Our pricing profile is predictable as a result of our long-term PPAs with high quality offtakers. Approximately 70% of our revenues are indexed to inflation and, excluding our Colombia and Brazil hydroelectric portfolios, approximately 90% of our production is contracted, with a weighted average remaining duration of 14 years on a proportionate basis. This, combined with a well-diversified portfolio that reduces variability in our generation volumes, enhances the stability of our cash flow profile.

The majority of our long-term PPAs 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%), industrial users (33%) and Brookfield (11%). On a proportionate basis, Brookfield Renewable has contracted approximately 88% of 2024 generation at an average price of $74 per MWh.

As at December 31, 2024, over the next five years Brookfield Renewable has on average approximately 4,759 GWh on a proportionate basis and 14,174 GWh on a consolidated basis of energy annually that is uncontracted. This positions us well to re-contract in the current favorable environment where we are seeing attractive terms of pricing for power.

The following table presents, on a proportionate basis, revenues, Adjusted EBITDA and Funds From Operations on a segmented basis for the fiscal years ended December 31, 2024, 2023 and 2022.

                                    Revenues      Adjusted EBITDA (1)                          Funds From Operations (1)                        
  (MILLIONS)                            2024                     2024      2023      2022                           2024       2023       2022  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Hydroelectric                                                                                                                                 
  North America                            $                        $         $         $                              $          $          $  
  Brazil                                 208                      151       172       167                            130        146        138  
  Colombia                               338                      176       175       201                             81