Brookfield Renewable Partners L.P. (Brookfield Renewable) owns a portfolio of renewable power and sustainable solution assets primarily in North America, South America, Europe and the Asia-Pacific (‘APAC’). The company is a subsidiary of Brookfield Corporation.
The company owns one of the world’s largest, publicly traded, renewable power and transition platforms. The company invests in renewable power and sustainable solutions assets directly, as well as with institutional partners, joint ventu...
Brookfield Renewable Partners L.P. (Brookfield Renewable) owns a portfolio of renewable power and sustainable solution assets primarily in North America, South America, Europe and the Asia-Pacific (‘APAC’). The company is a subsidiary of Brookfield Corporation.
The company owns one of the world’s largest, publicly traded, renewable power and transition platforms. The company invests in renewable power and sustainable solutions assets directly, as well as with institutional partners, joint venture partners, and through other arrangements.
The company’s global diversified portfolio of power assets has approximately 46,200 MW of operating capacity, annualized LTA generation of approximately 121,200 GWh, and a development pipeline of approximately 200,000 MW, with renewables making up over 98% of its operating capacity.
The company also has investments in its sustainable solution portfolio consisting of assets and businesses that enable the transition to net-zero through established, but emerging technologies that require capital to scale, and in businesses where it can leverage its access to capital and partnerships to accelerate growth. This portfolio includes the company’s investment in Westinghouse (a leading global nuclear services business) and a utility and independent power producer with operations in the Caribbean and Latin America, as well as both operating assets and a development pipeline of carbon capture and storage capacity, agricultural renewable natural gas and materials recycling and a pipeline of eFuels production capacity.
Construction and Development
During the year ended December 31, 2024, the company achieved commercial operation of the following renewable power assets (all figures approximate):
Brookfield Renewable, together with institutional partners, achieved commercial operation of 2,504 MW (604 MW net to Brookfield Renewable) of renewable power assets in North America, including the following: 770 MW (183 MW net to Brookfield Renewable) of onshore wind; 1,341 MW (330 MW net to Brookfield Renewable) of utility-scale solar; 333 MW (74 MW net to Brookfield Renewable) of distributed generation solar; and 60 MW (17 MW net to Brookfield Renewable) of battery storage.
Brookfield Renewable, together with institutional partners, achieved commercial operation of 2,657 MW (309 MW net to Brookfield Renewable) of renewable power assets in the Asia-Pacific, including the following: 928 MW (150 MW net to Brookfield Renewable) of onshore wind; 1,101 MW (119 MW net to Brookfield Renewable) of utility-scale solar; 197 MW (25 MW net to Brookfield Renewable) of distributed generation solar; and 431 MW (15 MW net to Brookfield Renewable) of battery storage.
Brookfield Renewable, together with institutional partners, achieved commercial operation of 877 MW (54 MW net to Brookfield Renewable) of renewable power assets in Europe, including the following: 218 MW (8 MW net to Brookfield Renewable) of onshore wind; 475 MW (32 MW net to Brookfield Renewable) of utility-scale solar; 132 MW (12 MW net to Brookfield Renewable) of distributed generation solar; and 52 MW (2 MW net to Brookfield Renewable) of battery storage.
Brookfield Renewable, together with institutional partners, achieved commercial operation of 571 MW (136 MW net to Brookfield Renewable) of renewable power assets in South America, including the following: 499 MW (123 MW net to Brookfield Renewable) of utility-scale solar; and 72 MW (13 MW net to Brookfield Renewable) of distributed generation solar.
The company, together with its institutional partners, continue to progress the company’s advanced stage development projects, including the following:
23,267 MW of onshore wind, utility-scale solar, distributed generation solar and battery storage in North America including the U.S., Canada, Mexico and the Caribbean.
21,994 MW of onshore wind, utility-scale solar, distributed generation solar and battery storage in Asia-Pacific including Australia, India, China, Japan and Korea.
19,227 MW of onshore wind, offshore wind, utility-scale solar, distributed generation solar and battery storage in Europe including France, Spain, Germany, Poland, Italy, the U.K., Portugal, Romania, Sweden, Finland and Ireland.
1,819 MW of utility-scale solar, distributed generation solar and battery storage in South America including Brazil, Colombia, Chile and Argentina.
Brookfield Renewable Corporation
On December 24, 2024, the partnership, BRHC, and BEPC completed a reorganization through a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the ‘Arrangement’).
Acquisitions
The company signed or closed the following acquisitions:
In July 2024, Brookfield Renewable, together with institutional partners, acquired a 74% interest in a leading wind-focused commercial and industrial renewable business in India, with approximately 500 MW of operating capacity and an almost 3 GW development pipeline. Brookfield Renewable holds an approximately 15% interest.
In July 2024, Brookfield Renewable, together with institutional partners, acquired the operating and development platform of a South Korean solar-focused renewables platform with 340 MW of operating and near construction distributed generation capacity, and a 2.2 GW pipeline. Brookfield Renewable is expected to hold an approximately 25% interest.
In November 2024, Brookfield Renewable, together with institutional partners, acquired a 67% interest in a leading U.K.-based distributed generation developer with approximately 200 MW of operating assets and a 450 MW development pipeline. Brookfield Renewable holds an approximately 13% interest.
In December 2024, Brookfield Renewable, together with institutional partners, acquired an approximately 53% controlling stake in Neoen, a leading global renewable energy developer headquartered in France, with 8 GW of operating and in-construction renewable power and energy storage assets, as well as a 20 GW development pipeline. In January 2025, during the pre-offer period, the company’s consortium acquired an additional approximately 14% stake in Neoen on the open market, bringing its total interest in Neoen to approximately 67%. In February 2025, it launched a mandatory cash tender offer for the remaining shares and convertible bonds of Neoen. The mandatory cash tender offer is expected to close in March 2025. As of the date of this Form 20-F, Brookfield Renewable, together with institutional partners, holds an approximately 85% equity interest in the target, and if certain conditions are met, the company intends to implement a squeeze-out procedure in order to acquire the target shares not tendered to the offer, which would result in the delisting of Neoen.
In December 2024, Brookfield Renewable, together with institutional partners, acquired a 12.45% interest in a portfolio of four operational offshore wind farms located in the U.K., with approximately 3.5 GW of operating capacity. Brookfield Renewable holds an approximately 3% interest.
In February 2025, Brookfield Renewable, together with institutional partners, agreed to acquire a diversified operating and development platform in the U.S. with 3.9 GW of operating and under construction renewable power and storage assets and an over 30 GW development pipeline for equity consideration of approximately $950 million (expected $238 million net to Brookfield Renewable). The terms of the transaction imply an enterprise value for the portfolio of $1.735 billion. The closing of this transaction is expected to occur in the first half of 2025 and is subject to customary closing conditions.
In addition to the above, during the course of 2024, Brookfield Renewable, together with institutional partners, acquired or agreed to acquire an aggregate 755 MW of wind, utility-scale solar, and distributed energy projects across its portfolio, of which 149 MW were operating and 606 MW were in the development phase. These projects are located in the company’s core geographies. Brookfield Renewable will typically hold a 20% - 25% interest in each project.
Asset Sales
The company signed or closed the following dispositions (all figures approximate):
In April 2024, Brookfield Renewable, together with institutional partners, completed the sale of a 60 MW battery storage asset in the U.S.
In May 2024, Brookfield Renewable, together with institutional partners, completed the sale of a 30 MW hydroelectric asset in the U.S.
In May 2024, Brookfield Renewable, together with institutional partners, completed the sale of an 85 MW portfolio of biomass facilities in Brazil.
In September 2024, Brookfield Renewable, together with institutional partners, completed the sale of its 50% interest in a 67 MW portfolio of wind facilities in the U.K. The transaction is subject to customary closing conditions, with closing expected to occur in the first half of 2025.
In November 2024, Brookfield Renewable, together with institutional partners, agreed to sell a 1,600 MW portfolio of operating and under construction wind and solar assets in India. The transaction is subject to customary closing conditions, with closing expected to occur in parts in the first quarter of 2025 and 2026.
In November 2024, Brookfield Renewable, together with institutional partners, completed the sale of a 90 MW portfolio of hydroelectric assets in Brazil.
In December 2024, Brookfield Renewable, together with institutional partners, completed the sale of a renewable platform with 682 MW of wind assets, 63 MW of solar assets, and a 1.6 GW development pipeline in Portugal and Spain.
In December 2024, Brookfield Renewable, together with institutional partners, completed the sale of a 50% interest in an 845 MW portfolio of wind assets in Oregon. In February 2025, Brookfield Renewable, together with institutional partners, agreed to sell an additional 25% interest in the same portfolio, with closing expected to occur in the first half of 2025, subject to customary closing conditions. Brookfield Renewable will retain a 25% interest (6.25% net to Brookfield Renewable) and retains management and operating responsibilities for the assets in the portfolio.
Other Transactions
In May 2024, the Partnership signed a renewable energy framework agreement with Microsoft, where it expects to deliver 10,500 MW of new renewable energy capacity in the U.S. and Europe between 2026 and 2030. The agreement includes the potential to increase its scope to deliver additional renewable energy capacity within the U.S. and Europe, and beyond to the Asia-Pacific, India, and Latin America.
Operations
The company invests in renewable power and sustainable solutions assets directly, as well as with institutional partners, joint venture partners, and through other arrangements. Across its business, it leverages its extensive operating experience to maintain and enhance the value of assets, grow cash flows on an annual basis, and cultivate positive relations with local stakeholders.
The company’s global diversified portfolio of power assets has approximately 46,200 MW of operating capacity, annualized LTA generation of approximately 121,200 GWh, and a development pipeline of approximately 200,000 MW, with renewables making up over 98% of its operating capacity.
The company also has investments in its sustainable solution portfolio, consisting of assets and businesses that enable the transition to net-zero through established, but emerging technologies that require capital to scale, and in businesses where it can leverage its access to capital and partnerships to accelerate growth. This portfolio includes the company’s investment in Westinghouse, a leading global nuclear services business, and a utility and independent power producer with operations in the Caribbean and Latin America, as well as both operating assets and a development pipeline of carbon capture and storage capacity, agricultural renewable natural gas, and materials recycling, and a pipeline of eFuels production capacity.
North American Business
The United States
The company’s principal office in the United States is located in New York, New York. The company’s U.S. National System Control Center is located in Queensbury, New York, and allows for the remote monitoring and control of the majority of its renewable power generation assets in the country. In the United States, it has full hydroelectric, wind, solar, and battery storage operating capabilities, as well as development and construction oversight expertise. The company’s U.S. investments consist of direct ownership of renewable power assets, as well as investments in scale, independent operating portfolio companies, and development platforms. It has also made investments in its sustainable solutions portfolio, which consists of its interest in Westinghouse, one of the world’s largest nuclear services businesses, as well as investments in transition asset classes where the market is growing and its initial investment positions it for future large-scale decarbonization investments.
The majority of the company’s hydroelectric capacity in the United States is located in New York, Pennsylvania, and New England. In New York, it is one of the largest independent power producers with 74 hydroelectric facilities with an aggregate capacity of 711 MW. In Pennsylvania, it has four hydroelectric facilities with an aggregate capacity of 747 MW. In New England, it has 48 hydroelectric facilities with an aggregate capacity of 700 MW. A number of the company’s U.S. hydroelectric assets have water storage reservoirs that can collectively store approximately 2,500 GWh, or approximately 38% of their annualized long-term average generation. It also benefits from a 50% joint-venture interest in a 666 MW hydroelectric pumped storage facility located in Massachusetts.
The company’s rights to operate its generation facilities in the United States are secured primarily through long-term licenses from the Federal Energy Regulatory Commission (FERC), the federal agency that regulates the licensing of substantially all power plants in the United States. FERC has oversight of substantially all of the company’s ongoing project operations. The company’s ability to sell power from certain of its generation facilities is also subject to the receipt and maintenance of certain approvals from FERC, including the authority to sell power at market-based rates.
In May 2024, Brookfield Renewable and Microsoft signed a landmark global renewable energy framework agreement to contribute to Microsoft’s goal of having 100% of its electricity consumption, 100% of the time, matched by zero-carbon energy purchases by 2030. The agreement between Brookfield and Microsoft is rooted in the two companies’ shared goals to decarbonize global energy supplies and reduce carbon emissions. The agreement provides a pathway for Brookfield Renewable to deliver over 10.5 gigawatts of new renewable energy capacity between 2026 and 2030 in the U.S. and Europe. The agreement includes the potential to increase its scope to deliver additional renewable energy capacity within the U.S. and Europe, and beyond to Asia-Pacific, India, and Latin America, and provides an incentive for Brookfield to build a large portfolio of new renewable energy projects over the coming years.
Utility Scale Wind, Solar, and Battery Storage Operators and Developers
In addition to Brookfield Renewable’s interests in various renewable power operating assets, the company, together with its institutional partners, is also invested in certain independent operating portfolio companies and development platforms based in the United States. Brookfield Renewable, through its portfolio companies and development platforms, has a geographically diverse portfolio of wind, utility-scale solar, and battery storage projects located across the United States. In aggregate, Brookfield Renewable has an operating capacity of approximately 10,000 MW across utility-scale wind and solar assets, and an approximately 62,000 MW development pipeline in those technologies, as well as battery storage.
The company’s utility-scale development capabilities are strengthened through the following portfolio of independent, national utility-scale wind, solar, and battery storage development platforms:
TerraForm Power, a utility-scale platform with operations in the U.S. and Canada.
Scout Clean Energy, a national utility-scale renewable energy developer-owner-operator across highly attractive markets.
Urban Grid, a utility-scale developer in high-value markets in the United States.
Deriva Energy, a renewables platform focused on utility-scale projects with an extensive development pipeline and repowering opportunities.
Distributed Generation
Complementing the company’s utility-scale solar portfolio is its approximately 1,800 MW operating DG portfolio, which is one of the largest commercial and industrial distributed generation portfolios in the United States, and benefits from dedicated development teams who are advancing an approximately 7,000 MW development pipeline. The company’s U.S. DG portfolio includes:
Standard Solar, a market-leading owner and operator of commercial and community distributed solar with end-to-end development capabilities.
Luminace, the company’s decarbonization-as-a-service platform with decades of experience in the North American distributed generation market.
Sustainable Solutions
Westinghouse is one of the world’s largest nuclear services businesses. The company, together with institutional partners, holds an aggregate 51% interest (approximately 11% net to Brookfield Renewable) with Cameco owning 49%. As this investment is structured as a joint venture with Cameco, the company notes that Cameco may have certain approval rights over decisions relating to the underlying operations and financing activities of Westinghouse, as well as rights related to the sale or transfer of interests in Westinghouse.
Westinghouse is a leading supplier of services to the global nuclear power generation industry that generates a majority of its earnings from regularly recurring refueling and maintenance services. Westinghouse is the OEM or technology provider for approximately 50% of global commercial nuclear power plants.
Westinghouse generates revenues through the entire life of the nuclear power plant. Its products and services include mission-critical fuel, ongoing maintenance services, engineering solutions, instrumentation and control systems, and manufactured components. Westinghouse also participates in the decontamination, decommissioning, and remediation of power plant sites, primarily at the end of their useful lives, as well as provides technology, equipment, engineering, and design services to new power plants on a global basis.
The company’s sustainable solutions portfolio also consists of structured investments in emerging asset classes, such as CCS (carbon capture and storage), RNG (renewable natural gas), recycling, and eFuels, where its initial investment positions it for potential future large-scale decarbonization investment.
Canada
The company’s principal offices in Canada are located in Gatineau, Quebec, and Toronto, Ontario. The company’s Canadian National System Control Center is located in Gatineau and allows for the remote monitoring and control of all of its assets in the country. In Canada, it has full hydroelectric, wind, and solar operating capabilities, as well as development and construction oversight expertise.
The company’s hydroelectric facilities are principally situated in Quebec and Ontario, the two largest power markets in Canada, as well as in British Columbia. Most of the company’s Canadian hydroelectric assets are larger utility-scale facilities with water storage reservoirs that can together store approximately 1,300 GWh, or approximately 24% of their annualized long-term average generation.
The company also has 483 MW of wind and 118 MW of solar generation capacity located in Ontario and Alberta, and approximately 840 MW of solar and battery storage development capacity, including four BESS development projects, totaling 740 MW of capacity.
The company holds a variety of long-term waterpower licenses issued by the provinces where its operations are situated. These waterpower licenses permit it to use land, water, and waterways for the generation of electricity. These licenses also contain terms that deal with water management, land use, public safety, recreation, and the environment. At the end of the license period, license holders can apply to have their licenses renewed.
Brookfield Renewable, together with institutional partners, has committed to invest into Entropy, a provider of CCS solutions, through a convertible security. Entropy is party to a fixed-price 15-year carbon credit offtake agreement with an arm’s length public investment vehicle that guarantees an offtake price for 600 Kt per annum of CO2, de-risking the project pipeline.
European Business
The principal office of the company’s European operations is located in London, in the U.K.
Spain
The company’s Spanish business includes 350 MW of CSP capacity. The principal revenues generated by its Spanish business’ CSP assets in Spain are received pursuant to a regulated return that is set by Spanish legislation. 200 MW of the company’s CSP assets in Spain are entitled to a regulated rate of 7.39% through December 31, 2031, and 150 MW of CSP assets are entitled to a regulated return rate of 7.09% through December 31, 2025. The regulated return rate is set every six years. In December 2024, together with institutional partners, the company sold its Spanish and Portuguese wind and conventional PV solar portfolio.
The United Kingdom
The company’s U.K. business includes a 10 MW solar facility located in England, OnPath Energy, a fully integrated renewables developer, a 67% interest in a 200 MW commercial and residential rooftop solar portfolio, and a 12.45% stake in a 3.5 GW offshore wind portfolio.
OnPath Energy is a leading independent renewable energy development business in the U.K. with more than 200 MW of operating assets and a development pipeline of approximately 3.9 GW across onshore wind and BESS technologies, growing the company’s presence in this attractive market.
In November 2024, together with institutional partners, it acquired a 67% equity interest in Provenance Power (formerly Atrato Onsite Energy), a leading commercial and residential rooftop solar platform in the U.K. with a total capacity of approximately 200 MW and approximately 450 MW of development capacity.
In December 2024, together with institutional partners, it acquired 12.45% minority stakes (3% net to Brookfield Renewable) in four of Ørsted’s operational U.K. offshore wind farms, Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension, which have a combined total capacity of approximately 3.5 GW. Ørsted will continue to oversee the operation and maintenance of the wind farms, all of which are under long-term inflation-linked contracts for difference (CfD). The company considers these assets as critical to supplying the U.K. with renewable power and supporting the country’s decarbonization objectives.
In September 2024, together with institutional partners, it sold its 25% stake in First Hydro.
Italy
The company’s Italian business includes two solar PV projects under development in Italy with a total capacity of approximately 134 MW. These were acquired under the framework development agreement signed in 2021, pursuant to which a developer in Italy will present it with the opportunity to invest in up to 500 MW of renewable power development opportunities in Italy.
Germany
The company’s German business includes a utility-scale solar development platform with an approximately 3,600 MW development pipeline.
X-Elio
X-Elio is a global solar development platform headquartered in Madrid. X-Elio’s diversified portfolio includes over 2,200 MW of operating and under-construction assets located in Spain, Germany, Mexico, Australia, Chile, the United States, Italy, Japan, and Honduras. X-Elio also has a pipeline of approximately 13,300 MW of utility-scale solar in Spain, Germany, the United States, Australia, Italy, Japan, and Latin America, which includes a mix of advanced and early-stage projects. X-Elio has also begun developing an approximately 9,600 MW BESS pipeline in Australia, Germany, Italy, Spain, Japan, the United States, and Latin America.
Powen
In 2024, the company, together with institutional partners, increased its equity interest in Powen from 44% to approximately 50% (approximately 10% net to Brookfield Renewable). Powen is a DG solar development business in Spain with approximately 1,300 MW of operating and development assets located in Spain, Mexico, Portugal, and the U.K.
Polenergia
Brookfield Renewable, together with institutional partners, holds a 32% (8% net to Brookfield Renewable) equity interest in Polenergia, a large-scale renewable business in Poland. The investment represents an attractive entry into the offshore wind sector in Europe through its 3,000 MW offshore wind development pipeline, which it expects to construct together with its joint venture partner, an experienced offshore wind developer.
Polenergia’s operating portfolio consists of approximately 493 MW of wind generation assets and 82 MW of solar projects, and it continues to progress its over 5 GW development pipeline, of which 3 GW is offshore wind, over 2 GW is onshore wind and solar PV, and a 105 MW green hydrogen project.
Neoen
In December 2024, Brookfield Renewable, together with institutional partners, acquired an approximately 53% interest in Neoen, a leading global renewable energy developer headquartered in France. In January 2025, during the pre-offer period, the company’s consortium acquired an additional approximately 14% stake in Neoen on the open market, bringing its total interest in Neoen to approximately 67%. In February 2025, it launched a mandatory cash tender offer for the remaining shares and convertible bonds of Neoen. The mandatory cash tender offer is expected to close in March 2025.
The company’s consortium holds its interest in Neoen indirectly through a private limited company incorporated under the laws of England (‘BRHL Holdco’). BRHL Holdco is a controlled subsidiary of Brookfield Renewable. BRHL Holdco director votes are weighted so that the directors appointed by each consortium member exercise a number of votes proportionate to such consortium member’s percentage interest in BRHL Holdco. It is entitled to vote a majority of the director votes provided that Brookfield Corporation and its subsidiaries (including Brookfield Renewable) collectively are the largest holder of BRHL Holdco’s equity securities and hold at least 40% of BRHL Holdco’s equity securities. Brookfield Renewable meets this ownership test and is entitled to vote a majority of the director votes.
Neoen has an approximately 8 GW portfolio of wind, solar, and BESS assets in operation or under construction located in France, Finland, Portugal, Sweden, Ireland, Italy, Australia, Mexico, El Salvador, Argentina, and Canada; and an over 20 GW advanced development pipeline located in those countries, as well as Germany and Ecuador.
South American Business
Colombia
The company’s 2016 acquisition of Isagen with its institutional partners marked its entry into the Colombian market. The company’s consortium’s ownership interest in Isagen is over 99%, of which its share is approximately 23%. Isagen’s principal office is located in Medellín. Isagen's Colombian National System Control Center is also located in Medellín and allows for the remote monitoring and control of its assets in the country.
The consortium holds its interest in Isagen through an entity (‘Hydro Holdings’), which is entitled to appoint a majority of the board of directors of Isagen. The general partner of Hydro Holdings is a controlled subsidiary of Brookfield Renewable. It is entitled to appoint a majority of Hydro Holdings’ board of directors, provided that Brookfield Corporation and its subsidiaries (including Brookfield Renewable) collectively are the largest holder of Hydro Holdings’ limited partnership interests, and hold over 30% of Hydro Holdings’ limited partnership interests. Brookfield Renewable meets this ownership test and is entitled to appoint a majority of the board of directors.
Isagen is Colombia’s third-largest power generation company and owns and operates a 3,153 MW portfolio. This portfolio accounts for approximately 15% of Colombia’s generating capacity and principally consists of large reservoir-based hydroelectric facilities. The hydroelectric assets include the largest reservoir by volume in Colombia and are collectively able to store approximately 23% of their annualized long-term average generation. Isagen’s portfolio also includes 199 MW of solar operating assets and 32 MW of wind operating assets.
Isagen owns all of its power generating assets in perpetuity and holds requisite water usage and other rights in respect of each of its assets. For each hydroelectric project built prior to 1993, it holds water usage rights that are granted by the appropriate regional or national environmental authority, in addition to a number of minor licenses and approvals.
Brazil
The principal office of the company’s Brazil business is located in São Paulo, which oversees its operations in Brazil. The company’s Brazilian National System Control Center is located in Rio de Janeiro and allows for the remote monitoring and control of nearly all of its assets in the country. The company’s business in the country has full hydroelectric, wind, solar, and biomass operating capabilities, as well as development and construction oversight expertise.
Brookfield first invested in Brazil over 100 years ago. Recognizing Brazil’s growing demand for power and strong renewable resource base, Brookfield re-entered the Brazilian power market in 2003, and since then, has grown its hydroelectric asset base significantly, consisting of 36 facilities on 24 river systems totaling approximately 850 MW of capacity. It entered the wind and biomass businesses in Brazil in 2015 with the acquisition of five wind farms and four biomass facilities, all operational. It subsequently acquired a 295 MW wind portfolio, and in 2021, commissioned its first solar facility, a 357 MW project. In 2023, it completed the construction of its second solar facility, a 1.2 GW project, acquired two wind portfolios totaling 197 MW of capacity, and completed the construction of a 248 MW wind complex. In 2024, it completed the construction of a third solar facility, a 423 MW project.
In aggregate, the company owns and operates facilities totaling approximately 3,900 MW located in 10 Brazilian states, representing approximately 44% of the country’s population and approximately 40% of the economic activity (in GDP terms). It has developed and built 48 facilities totaling approximately 2.3 GW of capacity and it has several projects in various stages of development.
Rights to hydroelectric sites are secured in Brazil by obtaining authorizations (such as water use leases) and concessions from the Brazilian Ministry of Mines and Energy through the National Agency for Electric Energy (‘ANEEL’). The company generally focuses on SHPPs, a category of hydroelectric power plant with less than 30 MW of capacity. SHPP plants can be secured directly from ANEEL, whereas sites for hydroelectric plants above 50 MW can only be granted by public auction, requiring developers to bid the lowest tariff in order to win the concession and a PPA with local utilities. Of the company’s authorizations and concessions (including hydroelectric, wind, solar, and biomass), approximately 90% have remaining terms of more than nine years. Generally, the company’s hydroelectric authorizations provide for an initial term of 35 years and the possibility to renew for an additional 30-year period, subject to payment of certain amounts under a water lease. Similarly, hydroelectric concessions provide for an initial term of 30 years with the possibility to renew the concession for an additional 20-year period. On the other hand, wind and solar authorizations provide for a fixed 35-year, non-renewable term. Wind and solar authorizations can also be secured from ANEEL.
Brookfield Renewable, together with institutional partners, holds a 90% (18% net to Brookfield Renewable) equity interest in IVI Energia, a distributed generation platform in Brazil with approximately 800 MW of operating and development assets.
Asia-Pacific Business
India
Brookfield Renewable entered the Indian market in 2017. The company’s Indian portfolio consists of approximately 3,800 MW of operating capacity, consisting of 1,300 MW of utility-scale wind, 2,200 MW of utility-scale solar, and 300 MW of distributed generation solar assets. The company’s development pipeline in the country is currently approximately 35,000 MW. The company’s Indian portfolio includes its recent investment in Leap Green, a leading platform in the space with more than 500 MW of operating wind assets and approximately 3,500 MW of development pipeline, as well as its investment in CleanMax, with approximately 1,700 MW of operating utility-scale wind, utility-scale solar, and distributed generation solar assets and approximately 4,200 MW of development pipeline. Also included in the company’s portfolio is Evren, a joint venture with a leading Indian renewable energy company, with over 12,000 MW of development pipeline, and Avaada, a leading renewable platform with additional investments in renewable development projects, and solar panel and green ammonia production facilities. In November 2024, together with institutional partners, it agreed to sell a 1,600 MW portfolio of operating and under-construction wind and solar assets in India.
China
Brookfield Renewable entered the Chinese market in 2017. The company’s operating portfolio consists of approximately 3,130 MW of generation capacity and includes 2,000 MW of wind, 130 MW of utility-scale solar, and 1,000 MW of distributed generation solar. In January 2025, it completed the termination of the company’s commercial and industrial rooftop solar joint venture with GLP Pte. Ltd. As a result, Brookfield Renewable, together with institutional partners, now controls a portfolio of approximately 540 MW of distributed generation assets.
South Korea
Brookfield Renewable entered the South Korean market in 2024 with the company’s recent investment in Hanmaeum Energy, a full-service platform with 340 MW of operating and near construction capacity, and scalable development projects and identified acquisition opportunities.
Other Businesses
The company owns and operates 101 MW of solar generation capacity in Chile, as well as an 84% interest in a distributed generation development platform with over 40 MW of operating capacity and approximately 400 MW of development projects.
The company also holds a minority equity interest in InterEnergy, a leading utility and independent power producer with a portfolio of more than 1.2 GW of high-value infrastructure and a 1.4 GW development pipeline of renewable and firming capacity with operations in the Caribbean, Central, and South America, to help accelerate its energy transition plan.
Growth Strategy
The company’s strategies include acquisitions in new and existing markets; development growth; technology diversification; and investing in decarbonization.
Marketing
The company operates in various North American, European, South American and the Asia-Pacific power markets.
In North America, the company’s energy marketing activities are managed and performed by its subsidiaries BRTM in the United States and Evolugen Trading and Marketing LP in Canada. These businesses operate 24 hours a day, 365 days a year, and its energy marketing business performs transaction execution, risk management, settlement, information technology, regulatory, legal, and human resource functions. This business also provides it with valuable market intelligence regarding pricing dynamics, regulatory regimes, and market participants; and was responsible for the aggregate sale in Canada and the United States of approximately 19 TWh of generation in 2024.
The company also leverages its relationship with Brookfield, which provides a unique competitive advantage considering Brookfield’s strong reputation in the energy marketing, asset management, infrastructure and global real estate industries.
Intellectual Property
Brookfield Renewable, as licensee, entered into the Licensing Agreement with Brookfield pursuant to which Brookfield granted the company a non-exclusive, royalty-free license to use the name ‘Brookfield’ and the Brookfield logo worldwide. Other than under this limited license, the company does not have a legal right to the ‘Brookfield’ name and the Brookfield logo.
History
The company was founded in 1999. It was formerly known as Brookfield Renewable Energy Partners L.P. and changed its name to Brookfield Renewable Partners L.P. in 2016.
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