BEPC

Cameco (NYSE: CCJ) recently reported ugly second-quarter results. The nuclear fuel supplier's revenue fell 7%, while its adjusted earnings per share missed the analysts' consensus estimate by a mile (0.18 Canadian dollars per share vs. CA$0.36 per share, or $0.13 to $0.26). However, things for the uranium company weren't as bad as they initially looked. The earnings miss was almost entirely due to lower equity earnings from its investment in Westinghouse Electric, which it co-owns with Brookfield Renewable. That trend could quickly reverse as its owners are preparing to take Westinghouse public, which could unlock significant value for Cameco. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » Cameco bought a 49% interest in Westinghouse in late 2023, with Brookfield Renewable purchasing the remaining 51% stake. The deal valued Westinghouse at CA$8.2 billion ($5.9 billion) at the time of its closing. As a co-owner of Westinghouse, Cameco accounts for its interest in the business on its financial results using the equity method of accounting in Canadian dollars. During the second quarter, Cameco reported a CA$10 million ($7.2 million) loss attributable to its Westinghouse share. That was down from CA$126 million ($90.4 million) in earnings in the year-ago period. However, that was entirely due to some lumpiness in Westinghouse's business. Cameco's equity earnings from Westinghouse were higher in 2025 due to its participation in the construction of two nuclear reactors at a power plant in the Czech Republic. While Westinghouse's earnings declined in the second quarter, its future is bright. Its technology platform operates across more than half the global nuclear fleet. Meanwhile, the company has a pipeline of up to 91 of its AP1000 reactor opportunities, which will drive demand for Cameco's uranium and fuel services businesses. The global nuclear resurgence has made Westinghouse more valuable since Cameco bought its stake. According to an estimate by Desjardins Securities, Westinghouse is now worth about CA$10.8 billion ($7.8 billion). Westinghouse is still in the early stages of going public, having only recently filed a Form S-1 with the Securities and Exchange Commission regarding its proposed IPO. It hasn't yet set a price, nor an IPO date. Further, it might not go through with the IPO if market conditions deteriorate. However, the window for IPOs has opened wide this year, especially for those related to the nuclear energy sector. Advanced nuclear reactor company X-Energy completed its IPO in April, raising more than $1 billion. Nuclear fuel company Standard Nuclear followed it up by completing its IPO in July, raising $150 million. While X-Energy initially popped 27% after going public, it has since cooled off and is now marginally down from its IPO price. Standard Nuclear, on the other hand, hasn't fared well at all. It slumped 10% on its debut and is down more than 45% from its IPO price. This tepid response could give Westinghouse pause. Westinghouse hurt Cameco's second-quarter financial results due to the way it accounts for earnings. However, investors shouldn't let that obscure the value embedded in this investment, which Cameco and Brookfield Renewable could soon unlock with an IPO. If they can price and time the IPO right, it could unlock significant value for Cameco shareholders. Before you buy stock in Cameco, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cameco wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $399,724!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,374,595!* Now, it’s worth noting Stock Advisor’s total average return is 967% — a market-crushing outperformance compared to 215% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 8, 2026. Matt DiLallo has positions in Brookfield Renewable and Brookfield Renewable Partners. The Motley Fool has positions in and recommends Cameco. The Motley Fool recommends Brookfield Renewable and Brookfield Renewable Partners. The Motley Fool has a disclosure policy. Why Cameco's Ugly Earnings Miss Might Be Good News in Disguise was originally published by The Motley Fool

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Record financial results were driven by robust capital deployment, commissioning 1.3 gigawatts of new capacity, and the highest levels of asset recycling in the company's history. Management attributes growth to a widening supply-demand imbalance in global electricity, compounded by aging grid infrastructure that cannot keep pace with new demand. The business is pivoting toward integrated energy solutions, leveraging a global platform that combines fast-to-market solar and wind with dispatchable hydro and nuclear baseload power. Nuclear technology via Westinghouse is being positioned as a critical growth engine, benefiting from global reactor life extensions and new build programs supported by sovereign partnerships. The U.S. Department of Energy's $17.5 billion loan commitment for AP1000 reactors is expected to accelerate deployment timelines by up to three years by enabling early procurement of long-lead equipment. Strategic focus has shifted from establishing financing frameworks to advancing individual projects with seven utility partners that have already identified specific project sites. The acquisition of IPA is expected to be immediately accretive, doubling operating and under-construction battery capacity and expanding the development pipeline by over 30%. Management expects to create additional value through an asset recycling program and by optimizing the capital structure and commercial strategy of newly acquired platforms. Ongoing contracting of the Ontario hydro portfolio is anticipated to enable meaningful upfinancings over the next few quarters. The proposed corporate simplification into a single listed entity aims to improve trading liquidity and broaden access to index funds and ETFs by year-end 2026. Long-term battery storage costs (LCOE) are expected to continue declining as the supply chain scales, despite potential short-term volatility in raw material input costs. A corporate simplification plan will combine BEP and BEPC into one corporate entity, intended to be tax-deferred for Canadian and U.S. investors without changing dividend levels. The company completed its largest-ever private placement financing, a $1.2 billion refinancing of the Safe Harbor hydro portfolio following a 20-year contract with Google. Asset recycling generated $2.2 billion in proceeds during the first half of the year, with sales of noncore hydro and solar assets in Maine, Europe, and Colombia. Westinghouse FFO grew over 60% year-over-year when excluding a one-time licensing fee from the prior year, reflecting strong demand for nuclear fuel and services. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that 'other income' predominantly represents gains from assets developed internally and the disposal of noncore assets. While programmatic, the scale of these gains will vary based on the timing of asset sales and development milestones rather than a fixed quarterly metric. Brookfield is leveraging its scale to enter global framework agreements with major battery producers to mitigate supply chain risks and secure lower pricing. Management expects LCOEs to trend downward long-term as technology matures, though short-term 'noise' from input costs may occur. The transaction requires a two-thirds approval from BEP unitholders in a vote scheduled for October; however, the transaction is not contingent on approval from BEPC shareholders. The simplification is contingent on BEP unitholder approval but will proceed even if BEPC shareholders do not approve it, provided BEP holders do.

For the quarter ended June 2026, Brookfield Renewable Energy Partners (BEP) reported revenue of $1.02 billion, up 4.5% over the same period last year. EPS came in at -$0.37, compared to -$0.22 in the year-ago quarter. The reported revenue represents a surprise of -1.45% over the Zacks Consensus Estimate of $1.03 billion. With the consensus EPS estimate being -$0.35, the EPS surprise was -5.71%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Brookfield Renewable performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Actual Generation - Wind - Total: 2,128.00 GWh versus the nine-analyst average estimate of 2,441.48 GWh. Actual Generation - Hydroelectric - Brazil: 896.00 GWh versus the eight-analyst average estimate of 936.78 GWh. Actual Generation - Hydroelectric - Colombia: 1,434.00 GWh versus 1,426.12 GWh estimated by eight analysts on average. Actual Generation - Hydroelectric - Total: 5,564.00 GWh compared to the 5,724.69 GWh average estimate based on eight analysts. Actual Generation - Distributed energy & storage: 301.00 GWh compared to the 346.55 GWh average estimate based on eight analysts. Actual Generation - Utility-scale solar: 1,385.00 GWh versus 1,540.97 GWh estimated by eight analysts on average. Actual Generation - Hydroelectric - North America: 3,234.00 GWh versus 3,361.79 GWh estimated by eight analysts on average. Operating Revenue- Utility-scale solar: $137 million compared to the $154.98 million average estimate based on 10 analysts. The reported number represents a change of +8.7% year over year. Revenues- Hydroelectric: $543 million compared to the $484.33 million average estimate based on 10 analysts. The reported number represents a change of +18.8% year over year. Revenues- Wind: $141 million compared to the $192.8 million average estimate based on 10 analysts. The reported number represents a change of -3.4% year over year. Operating Revenue- Sustainable solutions: $153 million compared to the $164.48 million average estimate based on five analysts. The reported number represents a change of -14% year over year. Operating Revenue- Distributed energy & storage: $44 million compared to the $57.71 million average estimate based on five analysts. The reported number represents a change of -34.3% year over year. View all Key Company Metrics for Brookfield Renewable here>>> Shares of Brookfield Renewable have returned -3.6% over the past month versus the Zacks S&P 500 composite's -0.5% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Brookfield Renewable Partners L.P. (BEP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

All amounts in U.S. dollars unless otherwise indicated BROOKFIELD, News, July 31, 2026 (GLOBE NEWSWIRE) -- Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN) (“Brookfield Renewable Partners”, "BEP") today reported financial results for the three months ended June 30, 2026. “We delivered record financial results, robust capital deployment, and the highest levels of development and asset recycling in our history,” said Connor Teskey, CEO of Brookfield Renewable. He added, “Energy demand continues to grow at unprecedented levels with customers increasingly seeking scale, integrated power solutions. Our diversified global business and leading capabilities across hydro, solar, wind, storage and nuclear enables us to accelerate our growth in this environment. With the recent acquisition of Aypa, the largest standalone battery storage platform in North America, we continue to enhance Brookfield Renewable’s position as the partner of choice for the largest corporate and sovereign buyers of power.” Brookfield Renewable reported record FFO of $421 million or $0.62 per unit, up 13% or 11% per unit year-over-year, benefiting from strong operating performance, asset recycling activity and growth from asset development. In the last twelve months, Brookfield Renewable reported FFO of $1,444 million, or $2.14 per unit, up 14% or 11% per unit, compared to the prior year period. After deducting non-cash depreciation and other expenses, our Net loss attributable to Unitholders for the three months ended June 30, 2026 was $213 million. Strong Financial Performance Our business delivered another quarter of strong financial results, reflecting our diversified portfolio and continued execution across our growth and capital recycling initiatives. Our hydroelectric segment delivered FFO of $336 million, driven by strong generation from our Canadian fleet, robust performance of our Colombian business and realized gains on the sale of a 25% interest in non-core U.S. hydro assets, which more than offset weaker hydrology in the U.S. Our wind and solar segments generated combined FFO of $166 million, supported by the build out of projects commissioned over the last year and realized gains. Our distributed energy, storage and sustainable solutions segments contributed FFO of $84 million, driven by contributions from development activities and strong performance from Westinghouse, with increasing activity across new-build projects and reactor restarts as global demand for nuclear power continues to accelerate. We are executing on our growth priorities, committing or deploying ~$5 billion (~$760 million net to Brookfield Renewable) of capital, including agreeing to acquire the largest standalone battery storage platform in North America. We announced an agreement to acquire Aypa, the largest standalone battery energy storage platform in North America for ~$3 billion (~$420 million net to Brookfield Renewable). Aypa has ~3,000 megawatts of highly contracted operating and under construction battery storage assets, an additional ~3,500 megawatts of contracted projects and a further +20-gigawatt development pipeline in strategic markets across the United States. This acquisition adds to our leading storage capabilities as battery storage is an increasingly critical component of the energy mix, enabling the deployment of low-cost, fast-to-market renewable generation and enhancing grid reliability. In addition, the acquisition of Aypa enhances our ability to meet growing customer demand for reliable, integrated power solutions. The quarter was also highlighted by the U.S. Department of Energy's commitment of $17.5 billion in loan facilities to finance long-lead equipment for the deployment of up to 10 large scale Westinghouse AP1000 reactors in the United States. The financing will accelerate project delivery by supporting early equipment procurement; reducing execution risk and strengthening the domestic nuclear supply chain. During the quarter, we were successful delivering ~1,280 megawatts of new capacity bringing our completed new capacity so far this year to ~3,100 megawatts, the highest first half development total in our history. We also continue to scale new build construction and remain on track to deliver ~10,000 megawatts of new projects per year by 2027. We executed power purchase agreements for ~2,600 megawatts of development projects from our advanced pipeline and continue to advance a number of major contracting initiatives, including a portfolio of hydro assets in Ontario as part of a broader re-contracting program run by the provincial system operator that will help secure cash flows with respect to these assets. We continue to execute on our capital recycling strategy, generating record proceeds to start the year, including approximately ~$2.2 billion (~$630 million net to Brookfield Renewable) of expected proceeds from signed or closed transactions during the quarter at strong returns. During the quarter, we signed an agreement to sell a 570-megawatt portfolio of operating solar and wind assets from our European development businesses to a newly formed European renewable power platform. The transaction will generate approximately $500 million (~$80 million net to Brookfield Renewable) of proceeds, crystallizing value created through our operating and development activities. We also established a framework to sell additional operating assets over time to the platform. This transaction represents another example of our programmatic capital recycling strategy, following the successful launch of a North American platform, Northview Energy, earlier this year. We closed two-thirds of the sale of ~2,100 megawatts of assets to the Northview Energy platform, and closed the remaining third subsequent to quarter-end. Also during the quarter we completed the sale of an additional 25% interest in a non-core U.S. hydro portfolio in Maine, with the remaining 25% expected to close in the third quarter of 2026. Total proceeds from the sale of 100% of these sales is expected to be ~$2.2 billion (~$800 million net to Brookfield Renewable). We agreed to sell a portfolio of solar assets that we developed and small non-core hydro assets from our Isagen business in Colombia across two transactions for ~$590 million in expected proceeds (~$220 million net to Brookfield Renewable). The transactions will crystallize development gains and value creation across our hydro fleet through the extension of contracts and operational improvements. We maintain a strong liquidity position and further optimized our balance sheet during the quarter, completing financings that enhance our financial flexibility and position us to continue to invest significantly into accretive growth opportunities. During the quarter, we completed approximately $12 billion of financings across our business, reflecting continued strong access to capital markets and ended the quarter with over $5.1 billion of available liquidity across our platform, providing flexibility to fund our development pipeline and pursue growth opportunities. We completed the largest private placement financing in our history through the refinancing of our Safe Harbor hydro portfolio, securing $1.2 billion of attractive long-term financing while further optimizing the capital structure of the portfolio. We completed a €650 million bond issuance at Neoen, further demonstrating our ability to efficiently access capital across our platforms. At the corporate level, we completed a C$200 million preferred unit issuance that was upsized in response to strong investor demand and priced with a 5.75% coupon, achieving our second-lowest reset spread ever for this type of instrument. During the quarter, we continued to execute our BEPC at-the-market equity issuance program alongside our normal course issuer bid. We issued approximately 3.2 million BEPC shares and repurchased the same number of BEP units on a one-for-one basis, generating approximately $8 million of incremental cash to support future growth investments. We recently approved plans to simplify Brookfield Renewable's corporate structure by combining BEP and BEPC into a single publicly traded corporation. We expect the simplification to be tax-deferred for Canadian and U.S. investors and benefit all securityholders by improving trading liquidity, increasing demand from index funds and ETFs, simplifying investor analysis, broadening access to investors who prefer a traditional corporate structure and enhancing governance. For BEP unitholders, the simplification will also eliminate onerous partnership tax reporting forms, while also providing preferential dividend tax rates for many Canadian and U.S. taxable investors. A special meeting for securityholders to vote on the simplification will be held on October 14, 2026, and subject to approvals and closing conditions, the simplification transaction is expected to be completed in the fourth quarter of 2026. Investor Day We look forward to hosting our Investor Day on September 29th, 2026 in Toronto where members of Brookfield Renewable's senior management team will provide an update on our strategic priorities and growth outlook. Distribution Declaration The next quarterly distribution in the amount of $0.392 per LP unit, is payable on September 29, 2026 to unitholders of record as at the close of business on August 31, 2026. In conjunction with the Partnership’s distribution declaration, the Board of Directors of BEPC has declared an equivalent quarterly dividend of $0.392 per share, also payable on September 29, 2026 to shareholders of record as at the close of business on August 31, 2026. The quarterly dividends on BEP's preferred shares and preferred LP units have also been declared. Conference Call and Quarterly Earnings Details Investors, analysts and other interested parties can access Brookfield Renewable’s Second Quarter 2026 Results as well as Supplemental Information on Brookfield Renewable’s website. To participate in the Conference Call on July 31, 2026 at 9:00 a.m. ET, please pre-register at https://register-conf.media-server.com/register/BI89bfdf0556c34d6bb3455df1fe062620 Upon registering, you will be emailed a dial-in number and unique PIN. The Conference Call will also be webcast live at https://edge.media-server.com/mmc/p/htnqsajs Brookfield Renewable Brookfield Renewable operates one of the world’s largest publicly traded platforms for renewable power and sustainable solutions. Our renewable power portfolio consists of hydroelectric, wind, utility-scale solar, distributed solar and storage facilities and our sustainable solutions assets include our investment in a leading global nuclear services business and a portfolio of investments in carbon capture and storage capacity, agricultural renewable natural gas, materials recycling and eFuels manufacturing capacity, among others. Investors can access the portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation. Further information is available at https://bep.brookfield.com. Important information may be disseminated exclusively via the website; investors should consult the site to access this information. Brookfield Renewable is the flagship listed energy company of Brookfield Asset Management, a leading global alternative asset manager headquartered in New York, with over $1 trillion of assets under management. Please note that Brookfield Renewable’s previous audited annual and unaudited quarterly reports filed with the U.S. Securities and Exchange Commission (“SEC”) and securities regulators in Canada, are available on our website at https://bep.brookfield.com, on SEC’s website at http://www.sec.gov and on SEDAR+’s website at www.sedarplus.ca. Hard copies of the annual and quarterly reports can be obtained free of charge upon request. PROPORTIONATE RESULTS FOR THE THREE MONTHS ENDED JUNE 30 The following chart reflects the generation and summary financial figures on a proportionate basis for the three months ended June 30: PROPORTIONATE RESULTS FOR THE TWELVE MONTHS ENDED JUNE 30 The following chart reflects the generation and summary financial figures on a proportionate basis for the twelve months ended June 30: RECONCILIATION OF NON-IFRS MEASURES The following table reflects Adjusted EBITDA and provides a reconciliation from Net income (loss) to Adjusted EBITDA for the three months ended June 30, 2026: The following table reflects Adjusted EBITDA and provides a reconciliation from Net income (loss) to Adjusted EBITDA for the three months ended June 30, 2025: RECONCILIATION OF NON-IFRS MEASURES (cont'd) The following table reflects Adjusted EBITDA and provides a reconciliation from Net income (loss) to Adjusted EBITDA for the twelve months ended June 30, 2026: The following table reflects Adjusted EBITDA and provides a reconciliation from Net income (loss) to Adjusted EBITDA for the twelve months ended June 30, 2025: RECONCILIATION OF NON-IFRS MEASURES (cont'd) The following table reconciles the non-IFRS financial metrics to the most directly comparable IFRS measures or financial data. Net income is reconciled to Funds From Operations: The following table reconciles the per Unit non-IFRS financial metrics to the most directly comparable IFRS measures or financial data. Net income per LP unit is reconciled to Funds From Operations per Unit: BROOKFIELD RENEWABLE CORPORATIONREPORTS SECOND QUARTER RESULTS All amounts in U.S. dollars unless otherwise indicated The Board of Directors of Brookfield Renewable Corporation ("BEPC" or our "company") (NYSE, TSX: BEPC) today has declared a quarterly dividend of $0.392 per class A exchangeable subordinate voting share of BEPC (a "Share"), payable on September 29, 2026 to shareholders of record as at the close of business on August 31, 2026. This dividend is identical in amount per share and has identical record and payment dates to the quarterly distribution announced today by BEP on BEP's LP units. The Shares of BEPC are structured with the intention of being economically equivalent to the non-voting limited partnership units of Brookfield Renewable Partners L.P. ("BEP" or the "partnership") (NYSE: BEP; TSX: BEP.UN). We believe economic equivalence is achieved through identical dividends and distributions on the Shares and BEP's LP units and each Share being exchangeable at the option of the holder for one BEP LP unit at any time. Given the economic equivalence, we expect that the market price of the Shares will be significantly impacted by the market price of BEP's LP units and the combined business performance of our company and BEP as a whole. In addition to carefully considering the disclosures made in this news release in its entirety, shareholders are strongly encouraged to carefully review BEP's continuous disclosure filings available electronically on EDGAR on the SEC's website at www.sec.gov or on SEDAR+ at www.sedarplus.ca. BEPC reported FFO of $299 million for the three months ended June 30, 2026, compared to $198 million in the prior year. After deducting non-cash depreciation, remeasurement of shares classified as financial liability, and other non-cash items, our Net loss attributable to the partnership for the three months ended June 30, 2026 was $790 million compared to a net loss of $1,410 million in the prior year. Adjusting for the remeasurement of financial liability associated with our exchangeable shares, the Net loss attributable to the partnership for the three months ended June 30, 2026 is $86 million compared to a loss of $134 million in the prior year. We recently announced our intention to simplify Brookfield Renewable's corporate structure by combining BEP and BEPC into a single publicly traded corporation. We expect the simplification to be tax-deferred for Canadian and U.S. investors and benefit all securityholders by improving trading liquidity, increasing demand from index funds and ETFs, simplifying investor analysis, broadening access to investors who prefer a traditional corporate structure and enhancing governance. A special meeting for securityholders to vote on the simplification will be held on October 14, 2026, and subject to approvals and closing conditions, the simplification transaction is expected to be completed in the fourth quarter of 2026. RECONCILIATION OF NON-IFRS MEASURES The following table reconciles Net income (loss) to Funds From Operations: Cautionary Statement Regarding Forward-looking Statements This news release contains forward-looking statements and information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. The words “will”, “intend”, “should”, “could”, “target”, “growth”, “expect”, “believe”, “plan”, derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release include statements regarding the quality of Brookfield Renewable’s and its subsidiaries’ businesses and our expectations regarding future cash flows and distribution growth. They include statements regarding Brookfield Renewable’s anticipated financial performance, future commissioning of assets, contracted nature of our portfolio (including our ability to recontract certain assets), technology diversification, acquisition opportunities, expected completion of acquisitions, dispositions and other transactions, financing and refinancing opportunities, future energy prices and demand for electricity, global decarbonization targets, economic recovery, achieving long-term average generation, project development and capital expenditure costs, energy policies, economic growth, growth potential of the renewable asset class, reorganizations or other structural simplification transactions including our corporate simplification, the future growth prospects and distribution profile of Brookfield Renewable and Brookfield Renewable’s access to capital. Although Brookfield Renewable believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, you should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Renewable are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield Renewable to differ materially from those contemplated or implied by the statements in this news release include (without limitation) our inability to identify sufficient investment opportunities and complete transactions and strategic initiatives including our corporate simplification transaction; the growth of our portfolio and our inability to realize the expected benefits of our transactions or acquisitions; weather conditions and other factors which may impact generation levels at facilities; changes to government regulations, including incentives for renewable energy; adverse outcomes with respect to outstanding, pending or future litigation; economic conditions in the jurisdictions in which Brookfield Renewable operates; ability to sell products and services under contract or into merchant energy markets; ability to complete development and capital projects on time and on budget; inability to finance operations or fund future acquisitions due to the status of the capital markets; health, safety, security or environmental incidents; regulatory risks relating to the power markets in which Brookfield Renewable operates, including relating to the regulation of our assets, licensing and litigation; risks relating to internal control environment; contract counterparties not fulfilling their obligations; changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and other risks associated with the construction, development and operation of power generating facilities. For further information on these known and unknown risks, please see “Risk Factors” included in the most recent Form 20-F of BEP and in the most recent Form 20-F of BEPC and other risks and factors that are described therein. Certain risks and uncertainties specific to our corporate simplification transaction will be further described in the joint management information circular of BEP and BEPC to be delivered to security holders in advance of the special meetings to approve the simplification. The foregoing list of important factors that may affect future results is not exhaustive. The forward-looking statements represent our views as of the date of this news release and should not be relied upon as representing our views as of any subsequent date. While we anticipate that subsequent events and developments may cause our views to change, we disclaim any obligation to update the forward-looking statements, other than as required by applicable law. No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release is for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Cautionary Statement Regarding Use of Non-IFRS Measures This news release contains references to FFO and FFO per Unit, which are not generally accepted accounting measures under IFRS and therefore may differ from definitions of Adjusted EBITDA, FFO and FFO per Unit used by other entities. We believe that FFO and FFO per Unit are useful supplemental measures that may assist investors in assessing the financial performance and the cash anticipated to be generated by our operating portfolio. None of FFO and FFO per Unit should be considered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, analysis of our financial statements prepared in accordance with IFRS. For a reconciliation of FFO and FFO per Unit to the most directly comparable IFRS measure or financial data, please see “Reconciliation of Non-IFRS Measures - Three Months Ended June 30” included elsewhere herein and “Financial Performance Review on Proportionate Information - Reconciliation of Non-IFRS Measures” included in our unaudited Q2 2026 interim report. For a reconciliation of FFO and FFO per Unit to the most directly comparable IFRS measure or financial data, please see “Reconciliation of Non-IFRS Measures - Three Months Ended June 30” included elsewhere herein and “Financial Performance Review on Proportionate Information - Reconciliation of Non-IFRS Measures” included in our unaudited Q2 2026 interim report. References to Brookfield Renewable are to Brookfield Renewable Partners L.P. together with its subsidiary and operating entities unless the context reflects otherwise. Endnotes (1)  For the three months ended June 30, 2026, average LP units totaled 302.3 million (2025: 283.8 million). For the twelve months ended June 30, 2026, average LP units totaled 296.7 million (2025: 284.7 million). (2)  Non-IFRS measures. Refer to “Cautionary Statement Regarding Use of Non-IFRS Measures”. (3)  Average Units outstanding for the three months ended June 30, 2026 were 684.3 million (2025: 661.9 million), being inclusive of GP interest, Redeemable/Exchangeable partnership units, LP units, BEPC exchangeable shares and class A.2 exchangeable shares. The actual Units outstanding as at June 30, 2026 were 684.2 million (2025: 661.9 million). Average Units for the twelve months ended June 30, 2026 was 676.0 million (2025: 662.8 million), being inclusive of our LP units, Redeemable/Exchangeable partnership units, BEPC exchangeable shares, class A.2 exchangeable shares and GP interest. (4)  Balance includes restricted cash, trade receivables and other current assets, financial instrument assets, and due from related parties on the consolidated statements of financial of position. (5)  Balance includes deferred income tax assets, assets held for sale, and other long-term assets on the consolidated statements of financial position. (6)  Balance includes current and non-current portion of corporate borrowings on the consolidated statements of financial position. (7)  Balance includes current and non-current portion of non-recourse borrowings on the consolidated statements of financial position. (8)  Balance includes accounts payable and accrued liabilities, financial instrument liabilities, due to related parties, provisions, liabilities directly associated with assets held for sale and other long-term liabilities on the consolidated statements of financial position. (9)  Direct operating costs exclude depreciation expense disclosed below. (10)  Balance includes net change in working capital, dividends received from equity accounted investments and changes in due to or from related parties on the consolidated statements of cash flows. (11)  Other corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations, recognized in the following line items of the IFRS statements: i) the "Other" line item on the consolidated statement of income (loss), ii) items recognized within Foreign exchange and financial instruments gain (loss) on the consolidated statement of income (loss), and iii) realized disposition gains and losses recognized within Other income on the consolidated statement of income (loss). Other also includes derivative and other revaluations and settlements, gains or losses on debt extinguishment/modification, transaction costs, legal, provisions, amortization of concession assets and Brookfield Renewable’s economic share of foreign currency hedges and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects over the long-term and realized disposition gains and losses on equity transactions that are included within Adjusted EBITDA. (12)  Amount attributable to equity accounted investments corresponds to the Adjusted EBITDA to Brookfield Renewable that are generated by its investments in associates and joint ventures accounted for using the equity method. Amounts attributable to non-controlling interest are calculated based on the economic ownership interest held by non-controlling interests in consolidated subsidiaries, excluding amounts attributable to Unitholders. By adjusting Adjusted EBITDA attributable to non-controlling interest, Brookfield Renewable is able to remove the portion of Adjusted EBITDA earned at non-wholly owned subsidiaries that are not attributable to Brookfield Renewable. (13)  Other corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations. Other also includes derivative and other revaluations and settlements, gains or losses on debt extinguishment/modification, transaction costs, legal, provisions, amortization of concession assets and Brookfield Renewable’s economic share of foreign currency hedges and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects and realized disposition gains and losses on assets that we developed and/or did not intend to hold over the long-term that are included in Funds From Operations. (14)  Amount attributable to equity accounted investments corresponds to the Funds From Operations that are generated by its investments in associates and joint ventures accounted for using the equity method. Amounts attributable to non-controlling interest are calculated based on the economic ownership interest held by non-controlling interests in consolidated subsidiaries, excluding amounts attributable to Unitholders. By adjusting Funds From Operations attributable to non-controlling interest, Brookfield Renewable is able to remove the portion of Funds From Operations earned at non-wholly owned subsidiaries that are not attributable to Brookfield Renewable. (15)  Other corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations. Other also includes derivative and other revaluations and settlements, gains or losses on debt extinguishment/modification, transaction costs, legal, provisions, amortization of concession assets and Brookfield Renewable’s economic share of foreign currency hedges and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects and realized disposition gains and losses on assets that we developed and/or did not intend to hold over the long-term that are included in Funds From Operations as well as amounts attributable to holders of Redeemable/Exchangeable partnership units, GP interest, BEPC exchangeable shares and class A.2 exchangeable shares. (16)  Reflects gains (losses) on shares with an exchange/redemption option that are classified as liabilities under IFRS. (17)  Other corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations. Other also includes derivative and other revaluations and settlements, gains or losses on debt extinguishment/modification, transaction costs, legal, provisions, amortization of concession assets and the company's economic share of foreign currency hedges and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects and realized disposition gains and losses on assets that we developed and/or did not intent to hold over the long-term that are included in Funds from Operations. (18)  Balance is included within interest expense on the consolidated statements of income (loss). (19)  Amount attributable to equity accounted investments corresponds to the Funds From Operations that are generated by its investments in associates and joint ventures accounted for using the equity method. Amounts attributable to non-controlling interest are calculated based on the economic ownership interest held by non-controlling interests in consolidated subsidiaries. By adjusting Funds From Operations attributable to non-controlling interest, our company is able to remove the portion of Funds From Operations earned at non-wholly owned subsidiaries that are not attributable to our company. (20)  Any references to capital refer to Brookfield's cash deployed, excluding any debt financing. (21)  Available liquidity of over $5.1 billion refers to "Part 5 - Liquidity and Capital Resources" in the Management Discussion and Analysis in the Q2 2026 Interim Report.

Interested in Brookfield Renewable Corporation? Here are five stocks we like better. Record Q2 performance: Brookfield Renewable reported $421 million in funds from operations, up 13% year over year, while FFO per unit increased 11% to $0.62. The company commissioned 1.3 gigawatts of capacity and signed power purchase agreements covering 2.6 gigawatts. Major battery-storage expansion: The planned $3 billion acquisition of Aypa will roughly double Brookfield Renewable’s operating and under-construction battery capacity to about 6 gigawatts and expand its development pipeline to more than 80 gigawatts. Strong capital activity and corporate simplification: The company completed approximately $12 billion in financings and expects about $2.2 billion from asset sales. It also plans to combine BEP and BEPC into one publicly traded corporation, with investor votes expected in October and closing targeted by year-end. Brookfield Renewable (NYSE:BEPC) reported record second-quarter funds from operations as the renewable power operator expanded its battery storage platform, advanced nuclear development efforts through Westinghouse and continued recycling capital from operating assets. Funds from operations, or FFO, totaled $421 million in the second quarter, up 13% from a year earlier, while FFO per unit rose 11% to $0.62. For the trailing 12 months, FFO reached $1.444 billion, or $2.14 per unit, representing year-over-year growth of 14% and 11%, respectively. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now Chief Executive Officer Connor Teskey said the company commissioned 1.3 gigawatts of capacity during the quarter and signed power purchase agreements for 2.6 gigawatts from its advanced development pipeline. Brookfield Renewable deployed or committed $5 billion toward growth investments, including its announced acquisition of battery storage company Aypa, with $760 million attributable to BEP. Chief Investment Officer Jay Vayna said Brookfield Renewable agreed to acquire Aypa, described as North America’s largest standalone battery storage platform, for $3 billion, or about $420 million net to BEP. → Microsoft Just Flipped the AI Spending Narrative Overnight Aypa has approximately 3 gigawatts of highly contracted operating and under-construction assets, another 3.5 gigawatts of contracted projects and a development pipeline exceeding 20 gigawatts, Vayna said. The acquisition will double Brookfield Renewable’s operating and under-construction battery capacity to roughly 6 gigawatts and increase its development pipeline by more than 30% to over 80 gigawatts. Vayna said Aypa, combined with Brookfield Renewable’s acquisition of Neoen at the end of 2024, establishes the company as a leading global battery storage platform. He said management sees opportunities to create value by accelerating development, optimizing capital structure and commercial strategy, and recycling assets over time. → Carrier Earnings Could Send the Stock to a New All-Time High During the question-and-answer session, Teskey called batteries the company’s fastest-growing technology and said Brookfield Renewable is pursuing storage investments alongside new wind and solar projects, on a standalone basis, and at existing wind and solar sites. He said the company has relationships with major domestic and international battery suppliers and is entering global framework agreements for battery equipment. Teskey said battery levelized costs of energy have declined substantially over the past 24 months. While input costs can cause short-term variability, he said Brookfield Renewable expects long-term battery LCOEs to continue declining as supply chains expand and technology improves. Teskey said Westinghouse, Brookfield Renewable’s nuclear technology business, is benefiting from demand for reactor life extensions, restarts and new-build programs. The U.S. Department of Energy issued a commitment for up to $17.5 billion of loan facilities to support procurement of long-lead equipment for up to 10 Westinghouse AP1000 reactors in the United States. The financing program is expected to accelerate deployment timelines by up to three years by allowing long-lead items to be procured before final investment decisions, Teskey said. Brookfield Renewable is working with seven utility partners that have identified project sites and are progressing toward long-lead equipment orders. Chief Financial Officer Patrick Taylor said the hydroelectric segment generated $336 million of FFO, supported by strong Canadian generation, continued performance in Colombia and increased ownership in Isagen. Realized gains from the sale of an additional 25% interest in a non-core Maine hydro portfolio offset weaker hydrology at U.S. operations. Solar and wind operations generated $166 million of FFO, benefiting from projects commissioned over the past year and gains from asset sales. Distributed energy, storage and sustainable solutions contributed $84 million of FFO. Taylor said Westinghouse FFO rose more than 60% from the prior-year period, excluding a large new-reactor licensing fee recorded in the second quarter of the previous year. Brookfield Renewable completed about $12 billion of financings during the quarter and ended the period with more than $5.1 billion of available liquidity, Taylor said. The company refinanced its Safe Harbor hydro portfolio after signing a 20-year contract with Google last year. The financing secured approximately $1.2 billion of long-term capital and produced aggregate up-financing of $700 million, or $200 million net to BEP. Neoen also completed a €650 million bond issuance, while Brookfield Renewable issued C$200 million of preferred units after upsizing the offering in response to demand. Capital recycling activity included agreed or completed asset sales expected to generate about $2.2 billion of proceeds, or $630 million net to BEP. The company agreed to sell a 570-megawatt European solar and wind portfolio, closed the sale of 2.1 gigawatts of assets to Northview Energy, and sold another 25% interest in its Maine hydro portfolio. It also agreed to sell solar assets and small non-core hydro assets in Colombia. Responding to an analyst question, Taylor said gains reported in other income increasingly reflect assets developed by Brookfield Renewable as well as selected non-core asset disposals, though not all sale gains are reported in that line item. Brookfield Renewable is pursuing a transaction to combine BEP and BEPC into a single publicly traded corporation, subject to required approvals. Taylor said the company expects the transaction to be tax-deferred for Canadian and U.S. investors and said it would improve trading liquidity, broaden investor access and eliminate partnership tax reporting forms for BEP unitholders. There would be no changes to dividends, Brookfield’s ownership, management fees, preferred units or public debt, according to Taylor. He said required shareholder and unitholder votes are expected in October, with closing targeted by year-end if approvals are obtained. The transaction requires BEP unitholder approval, while BEPC shareholder approval is not a condition for the transaction to proceed. Brookfield Renewable Corporation (NYSE: BEPC) is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management. The company's operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Brookfield Renewable Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

This article first appeared on GuruFocus. Funds From Operations (FFO): $375 million, up 19% year-over-year, equating to $0.55 per unit. Hydroelectric Segment FFO: $210 million, up almost 30% year-over-year. Wind and Solar Segments FFO: $245 million, up over 60% year-over-year. Distributed Energy, Storage, and Sustainable Solutions FFO: $58 million. New Capacity Brought Online: 1.8 gigawatts in the quarter. Development Projects Contracted: 1.7 gigawatts from the advanced development pipeline. Available Liquidity: Over $4.7 billion at the end of the quarter. Financings Executed: Almost $4 billion, including $500 million Canadian of 30-year notes. Asset Recycling Proceeds: Nearly $3 billion, or over $800 million net to BEP. Capital Recycling Program: Generated approximately $2.8 billion or $820 million net to BEP. Warning! GuruFocus has detected 8 Warning Signs with BEPC. Is BEPC fairly valued? Test your thesis with our free DCF calculator. Release Date: May 01, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Brookfield Renewable Corp (NYSE:BEPC) delivered record financial results with FFO of $375 million, up 19% year-over-year. The company successfully deployed $2.2 billion into growth, including the privatization of Boralex, enhancing its renewable platform. Brookfield Renewable Corp (NYSE:BEPC) brought online 1.8 gigawatts of new capacity and contracted 1.7 gigawatts of development projects. The company strengthened its balance sheet with $4 billion in financings and ended the quarter with over $4.7 billion of available liquidity. Brookfield Renewable Corp (NYSE:BEPC) is well-positioned to exceed its long-term target of 10% FFO per unit growth due to M&A, organic growth, and asset recycling. The conflict in the Middle East has led to higher energy prices in some markets, although Brookfield Renewable Corp (NYSE:BEPC) expects limited direct impact. Execution risks have increased in certain regions due to permitting, interconnection, and supply chain challenges. The company faces potential challenges in aligning stakeholders for large-scale nuclear reactor projects in the US. High interest rates and challenging renewable development environments in South America may limit growth opportunities in the region. The potential simplification to a single corporate structure is still under evaluation, with no definitive timeline or outcome yet. Q: Can you provide an updated perspective on the cadence and magnitude of overall asset recycling plans over the next year? A: Connor Teskey, CEO, explained that the growth in asset recycling is a natural expansion tied to their organic and development activities. They expect it to grow similarly in the future, driven by market values. They anticipate deploying $9 billion to $10 billion into growth over five years, with at least a third from asset recycling. The returns from this program are consistently at the high end of their target range. Q: Do you still see public equities offering more compelling opportunities than private M&A, and what is your continued M&A appetite post-Boralex? A: Connor Teskey stated that opportunities in the public market continue to exist due to capital constraints faced by some companies. They see a robust pipeline across both private and public markets for the remainder of the year, with public companies struggling due to limited access to capital. Q: Can you clarify the progress with the US Government and Westinghouse regarding long-lead items? A: Connor Teskey mentioned that discussions are ongoing, and they hope to announce significant progress soon. There is strong demand for nuclear energy, particularly in the US, from various stakeholders, including the government and utilities. Q: Is there an expectation to exceed the 10% FFO per unit growth target in the next few years? A: Connor Teskey indicated that they are well-positioned to exceed the 10% target due to M&A, new capacity from organic growth, and attractive asset recycling values. The operating fundamentals and organic growth profile are strong, with asset sale gains providing additional upside. Q: How should we think about the cadence of future dropdowns into Northview Energy, and is it a steady-state funding lever? A: Connor Teskey explained that they have the option but not the obligation to sell assets into Northview Energy. The additional capital for future dropdowns is expected to be utilized over a two to four-year period, with decisions on expanding or creating new vehicles to be made in the future. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Record financial results were driven by a 19% increase in FFO, supported by strong hydrology in Canada and Colombia and significant contributions from wind and solar development. Management attributes the accelerating demand for renewables and nuclear to a global convergence of electrification, digitalization, and a renewed focus on domestic energy security. The business is shifting toward a more recurring capital recycling model, exemplified by the launch of Northview Energy to monetize de-risked assets for institutional investors. Operational scale has allowed the company to double its commissioning rate over the last two years, reaching over 9 gigawatts of new capacity in the past 12 months. Strategic positioning in the nuclear sector via Westinghouse is being leveraged to meet the growing need for large-scale baseload generation and energy security. The acquisition of Boralex follows a disciplined M&A playbook focused on acquiring scale platforms in attractive markets with de-risked development pipelines. Management emphasized that their largely contracted business model provides a hedge against near-term energy price volatility caused by geopolitical conflicts. Management expects to exceed their long-term 10% FFO per unit growth target in the near term, driven by robust M&A, organic capacity additions, and attractive asset recycling values. The company is on track to increase its annual commissioning run rate to approximately 10 gigawatts per year by 2027. Asset recycling is projected to fund at least one-third of the company's $9 to $10 billion five-year equity deployment target. Future growth in the nuclear segment assumes the successful establishment of frameworks for new utility-scale reactors in the U.S. through partnerships with government and utilities. The company is exploring a potential simplification of its corporate structure into a single listed entity to enhance liquidity and index inclusion, with updates expected later in 2026. The conflict in the Middle East has not directly impacted regional investments, though management is monitoring potential impacts on global energy security and pricing. The launch of Northview Energy established a framework for up to $1.5 billion of incremental gross proceeds from future asset sales to institutional partners. A C$500 million 30-year note issuance extended the average corporate debt maturity to 14 years, the longest in the company's history. The company is utilizing an at-the-market equity program for BEPC shares to fund the repurchase of BEP units, realizing cash gains while maintaining share count. Management confirmed that underlying operating fundamentals and organic growth are strong enough to exceed 10% growth even without asset sale gains. Gains from capital recycling are viewed as incremental upside to the core organic and M&A growth drivers. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Demand from hyperscalers is accelerating beyond previous market expectations, with a notable shift toward broadening technology needs. Agreements are expanding from wind and solar to include hydro and battery storage to meet 24/7 carbon-free energy requirements. Battery capex has declined 65% to 70% over the last 24 months, making storage economically attractive for firming up renewable load profiles. Behind-the-meter solutions are growing rapidly as a response to grid expansion speeds failing to keep pace with demand trajectories. Management clarified there is no single bottleneck, but rather a need for alignment among government, utilities, offtakers, and financiers for a massive step-change in scale. The company expects to announce significant progress on long-lead equipment orders and development frameworks in the near term. The growth in recycling is a natural, lagged result of increased organic development, with returns consistently at or above the high end of target ranges. The company maintains the option, but not the obligation, to drop assets into the Northview vehicle based on market pricing. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

Brookfield Renewable reported record Q1 results with $375 million of FFO (up 19% YoY) and $1.394 billion over the last 12 months, deployed or committed $2.2 billion into growth, commissioned 1.8 GW in the quarter and over 9 GW in the past 12 months, and is on track for about 10 GW/year commissioning by 2027. The company is scaling M&A and capital recycling—announcing the privatization of Boralex at an implied enterprise value of $6.5 billion with La Caisse, closing or agreeing sales to generate about $2.8 billion of proceeds (~$820 million net to BEP), and launching Northview Energy (seeded with $1.3 billion of asset sales) to recycle further assets. Brookfield bolstered its balance sheet with almost $4 billion of financings, ended the quarter with over $4.7 billion of available liquidity and a record ~14‑year average corporate debt maturity, is exploring a tax‑free simplification to a single listed security, and targets 12–15% long‑term total returns and sustained FFO/unit growth above 10%. Interested in Brookfield Renewable Corporation? Here are five stocks we like better. Brookfield Renewable (NYSE:BEPC) reported a “very strong start to the year” in first-quarter 2026, posting record financial results while advancing its development pipeline, scaling its capital recycling program, and executing new financings to bolster liquidity and extend debt maturities. CEO Connor Teskey said the company generated funds from operations (FFO) of $375 million, up 19% year-over-year and 15% on a per-unit basis, equating to $0.55 per unit. CFO Patrick Taylor added that over the last 12 months, Brookfield Renewable delivered $1.394 billion of FFO, or $2.08 per unit, up 13% year-over-year and 12% per unit. → Corning Beats Q1 Estimates but Drops 9% on Guidance Miss Teskey said Brookfield Renewable deployed or committed $2.2 billion into growth in the quarter, or $550 million net to BEP, and highlighted the company’s recently announced agreement to acquire Boralex. He also pointed to development progress, including commissioning 1.8 gigawatts of new capacity and contracting 1.7 gigawatts of projects from its “advanced development pipeline.” On segment performance, Taylor said hydroelectric FFO totaled $210 million, up “almost 30%” year-over-year, supported by strong generation in Canada and Colombia and a realized gain from selling a 25% interest in a non-core U.S. hydro portfolio, partially offset by weaker hydrology in U.S. operations. Wind and solar delivered a combined $245 million of FFO, up “over 60%,” driven by development, acquisitions, and capital recycling. Distributed energy, storage, and sustainable solutions contributed $58 million, reflecting development activity and growth at Westinghouse, including “new reactor design and engineering work” and organic growth in fuel and maintenance services. → Meta Posted Its Best Sales Growth Since 2021—So Why Did Shares Fall? Teskey addressed the outbreak of conflict in the Middle East, saying employee and customer safety in the region was the company’s “highest priority.” He said Brookfield Renewable’s “limited investments in the region today have not been directly impacted” and continued to perform. While some markets are experiencing higher energy prices, he said Brookfield Renewable is “largely contracted” and does not expect a material near-term impact to cash flows. According to Teskey, the conflict has renewed attention on “energy security,” reinforcing investment in renewables, which he described as the “lowest cost form of generation” that does not rely on imported fuel. He also highlighted nuclear as a source of “large-scale baseload generation” with fuel that can be stored on-site. → Is Oracle Undervalued as Cloud Growth Accelerates? He said Brookfield Renewable commissioned more than 9 gigawatts of new capacity over the last 12 months—“nearly double” what it delivered two years earlier—and remains on track to raise its annual commissioning run rate to about 10 gigawatts per year in 2027. On nuclear, Teskey referenced a partnership with the U.S. government involving Westinghouse large-scale reactors. He said the company made progress in the quarter advancing “key work streams,” including ordering long lead-time equipment for Westinghouse’s AP1000 technology. During Q&A, Teskey said discussions remain “very live,” and the company hopes to announce “significant progress” in 2026 and “in the near term,” describing demand as coming from “offtakers,” utilities, and the government. Asked about what could be holding back announcements, Teskey said he would not characterize it as a bottleneck, but rather the need for alignment among stakeholders—government, utilities, offtakers, and financing parties—given the scale of what is being contemplated. Chief Investment Officer Jeh Vevaina said Brookfield Renewable continues to see compelling opportunities both in executing its “80 gigawatts advanced stage development pipeline” and through mergers and acquisitions, while emphasizing that the company’s “disciplined approach” to investing “has not changed.” He described Brookfield’s M&A edge as the ability to invest at scale across public and private markets globally, across stages of the development lifecycle, supported by commercial and operational capabilities. Vevaina said the company’s recently announced privatization of Boralex alongside La Caisse follows prior acquisitions including Neoen, OnPath, and U.S. transactions involving Geronimo, Deriva, Scout, and Urban Grid. Under the Boralex terms described on the call, La Caisse will increase its ownership from 15% to 30%, while BEP and institutional partners will acquire the remaining 70% at an implied enterprise value of $6.5 billion. He said the transaction is subject to shareholder and customary regulatory approvals and is expected to close later in the year. Vevaina said the acquisition is expected to contribute positively to financial results upon closing, and Brookfield sees opportunities to enhance value by accelerating development, expanding capabilities across technologies (including battery storage), driving efficiencies through shared best practices, and establishing an asset recycling program within the platform. In response to questions about the broader M&A environment, Teskey said Brookfield Renewable continues to see public-market opportunities, noting some public companies are “more constrained for capital” and therefore less able to capitalize on strong demand. He said Brookfield Renewable sees “a pretty robust pipeline across both private and public for the remainder of the year.” Teskey and Taylor both emphasized expanding capital recycling activity. Teskey described it as a “very natural expansion” tied to growing in-house development, where the company can sell assets to “lower cost of capital buyers,” capture development margin, and redeploy into growth. He said the company is not working toward a fixed annual target and will be “entirely driven by the values we see in the market.” As a directional guide, Teskey referenced comments from the company’s Investor Day last year, where Brookfield Renewable discussed deploying $9 billion to $10 billion of equity into growth over five years, with “at least a third” expected to come from asset recycling, and potentially more if market values remain strong. He said the company is seeing returns “consistently” at the high end or above the high end of its target range. Taylor said Brookfield Renewable closed or agreed to sell assets expected to generate about $2.8 billion of proceeds, or $820 million net to BEP. He cited a sale of the company’s remaining 50% interest in a portfolio of non-core U.S. hydro assets; the IPO of CleanMax in India, where Brookfield sold about half its interest and “returned all of our original invested capital” while maintaining exposure to future growth; and the sale of an operating solar portfolio in the U.S. from the Deriva platform. Taylor said CleanMax generated a 25% IRR to date. A major element of the quarter’s activity was the launch of Northview Energy, a private renewable vehicle focused on operating renewables in North America, formed with BCI, Norges Bank Investment Management, and a Brookfield fund. Taylor said Brookfield seeded the vehicle by selling 22 operating onshore wind and utility-scale solar assets, generating $1.3 billion of proceeds, or $315 million net to BEP. He said the arrangement provides a framework to sell additional developed assets into the vehicle for up to $1.5 billion of incremental gross proceeds over time. Asked about cadence, Teskey said Brookfield has the “option, but not the obligation” to sell qualifying assets into Northview, and expects the initial capital commitment to be utilized over a 2-3 to 2-4 year period. Taylor said Brookfield Renewable completed “almost $4 billion of financings” in the first three months of the year, extending maturities and optimizing its capital structure. The company ended the quarter with over $4.7 billion of available liquidity. He highlighted the issuance of CAD 500 million of 30-year notes at what he called the tightest spread the company has achieved, bringing average corporate-level debt maturity to about 14 years, the longest in its history. He also said Brookfield is progressing recontracting initiatives on a “scale portfolio of hydro assets in Ontario,” which, once signed, are expected to support “significant up financings” planned over the course of the year. During the quarter, the company also launched an at-the-market equity issuance program for BEPC, paired with repurchases of BEP LP units under its normal course issuer bid. Taylor said Brookfield issued 2.8 million BEPC shares, used proceeds to repurchase the same number of BEP units, and generated about $27 million of realized cash gains. Brookfield Renewable also disclosed it is exploring whether to simplify its structure into a single listed corporate entity. Taylor said the company is assessing whether it can create “a single corporate security” on a tax-free basis to enhance liquidity, increase index inclusion, and create value for investors, with more details expected later in the year. In Q&A, he said the review has just begun and did not provide a timeline. Teskey added that the company would not expect a structural change to alter its dividend policy. Looking ahead, Taylor reiterated Brookfield Renewable’s focus on delivering 12% to 15% long-term total returns, supported by its operating platform, disciplined capital allocation, and expanding capital recycling program. Teskey said the company believes it is positioned to exceed its long-term target of 10% annual FFO per unit growth in the short to medium term, driven by M&A, organic commissioning, and asset recycling, adding that underlying operating fundamentals and organic growth are “as strong as it’s ever been.” Brookfield Renewable Corporation (NYSE: BEPC) is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management. The company's operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity. The article "Brookfield Renewable Q1 Earnings Call Highlights" was originally published by MarketBeat.