Brookfield Renewable Partners (BEP) Q2 2026 earnings summary

Executive summary

• Achieved record FFO of $421 million for Q2 2026, up 13% year-over-year, and $1.444 billion for the trailing twelve months, up 14% year-over-year, driven by global fleet contributions, acquisitions, and capital recycling gains.

• Delivered robust capital deployment and the highest levels of development and asset recycling in company history, including the acquisition of Aypa and Neoen, expanding battery storage capabilities.

• Ended the quarter with strong liquidity, positioning the business to capitalize on significant growth opportunities in the energy market.

• Commissioned 8,300 MW of new projects in the last 12 months and added ~1,280 MW in Q2, with plans to deliver ~10,000 MW annually starting 2027.

• Announced plan to simplify corporate structure by merging BEP and BEPC into a single listed entity, expected to close by year-end pending approvals.

Financial highlights

• Generated Q2 FFO of $421 million ($0.62 per unit), up 13% year-over-year; last 12 months FFO reached $1.444 billion.

• Q2 revenues: $1.71 billion; twelve-month revenues: $5.1 billion.

• Adjusted EBITDA for Q2: $831 million; trailing twelve months: $2.96 billion.

• Deployed or committed ~$5 billion into growth, including the Aypa acquisition.

• Capital recycling generated ~$2.2 billion in proceeds in the first half, at or above target returns.

Outlook and guidance

• Positioned to benefit from accelerating global electricity demand and supply-demand imbalances, with a robust development pipeline of 80+ GW.

• On track to deliver ~10,000 MW of new projects per year by 2027.

• Focused on advancing nuclear development, battery storage, and integrated energy solutions for large buyers.

• Expect continued growth in FFO and cash flow, supported by a strong development pipeline and capital recycling.

• Targeting 12–15% annualized returns to unitholders over the long term.