Brookfield Renewable Partners L.P. reported record financial results for the twelve months ended December 31, 2024, with Funds from Operations (FFO) reaching $1,217 million, or $1.83 per unit, representing a 10% increase on a per-unit basis over the prior year. The fourth quarter alone saw a 21% FFO per unit increase year-on-year.
The company developed approximately 7,000 megawatts of capacity and deployed and committed $12.5 billion of capital into leading renewable platforms during 2024. It also signed a landmark renewable energy framework agreement with Microsoft and delivered $2.8 billion in proceeds from asset recycling, achieving average returns of approximately 25% IRR.
Key monetizations included the sale of Saeta, generating 3 times invested capital, and a 50% interest in Shepherds Flat. Brookfield Renewable's development pipeline stands at 200,000 megawatts, with plans to commission approximately 10,000 megawatts annually. The company also announced a 5% increase in its quarterly distribution to $0.355 per LP unit.
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