Brookfield Renewable Corporation · NYSE:BEPC
Brookfield Renewable — Brookfield Renewable Partners L.P. Limited Partnership Units — Q3 2021 Earnings Presentation
37 slides from Brookfield Renewable's earnings presentation, Nov 5, 2022
Slide 1: Q3 2021 Supplemental Information
BROOKFIELD RENEWABLE PARTNERS L.P. Q3 2021 Supplemental Information For the three and nine months ended September 30, 2021
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Supplemental Information contains forward-looking statements and information, within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of
Slide 3: Q3 2021 Highlights
Q3 2021 Highlights (MILLIONS, EXCEPT AS NOTED) Three months ended 2021 2020 Nine months ended 2021 2020 6.1 TWh $210M 32% Operational Information PROPORTIONATE FUNDS FROM FFO PER UNIT Capacity (MW) 20,515 19,363 20,515 19,363 GENERATION OPERATIONS INCREASE Total generation (GWh) Long-term average ge
Slide 4: Q3 2021 Highlights (cont'd)
Q3 2021 Highlights (cont’d) OPERATIONS GROWTH AND DEVELOPMENT • Subsequent to the quarter, together with our institutional • Continued to focus on extending our contract profile and investors, we agreed to acquire: leveraging our deep customer relationships – An initial 26% interest in a 750 MW port
Slide 5: About Brookfield Renewable
About Brookfield Renewable We are a global leader in decarbonization, with integrated operating platforms on four continents with operating, development and power marketing expertise $58 billion 20,500 3,000 MEGAWATTS OF CAPACITY OPERATING EMPLOYEES TOTAL POWER ASSETS 5,956 power generating faciliti
Slide 6: A Global Leader in Decarbonization
A Global Leader in Decarbonization 6
Slide 7: Overview of Our Operations
Overview of Our Operations Storage River Capacity LTA(1) Capacity As at September 30, 2021 Systems Facilities (MW) (GWh) (GWh) Revenue by Source of Energy Hydroelectric (proportionate basis) (1) North America United States(2) 31 141 3,168 13,503 2,543 Canada 18 29 1,098 3,656 1,261 13% 49 170 4,266
Slide 8: Distribution Profile
Distribution Profile • We target a long-term distribution growth rate in the range of 5% to 9% annually • Distribution payout is reviewed with the Board of Directors in the first quarter of each year • The next quarterly distribution in the amount of $0.30375 per LP unit, is payable on December 31,
Slide 9: Generation and Financial Review for the Three Months Ended September 30
Generation and Financial Review for the Three Months Ended September 30 9
Slide 10: Performance Measurement
Performance Measurement Segmented Information Our operations are segmented by – 1) hydroelectric, 2) wind, 3) solar, 4) energy transition (distributed generation, pumped storage, cogeneration and biomass), and 5) corporate – with hydroelectric and wind further segmented by geography (i.e., North Ame
Slide 11: Proportionate Results for the Three Months Ended September 30
Proportionate Results for the Three Months Ended September 30 For each operating segment, this Supplemental Information outlines Brookfield Renewable’s proportionate share of results in order to demonstrate the impact of key value drivers of each operating segment on the partnership’s overall perfor
Slide 12: Hydroelectric Operations on Proportionate Basis
Hydroelectric Operations on Proportionate Basis FINANCIAL RESULTS 3,930 GWh $142M FFO increased 33% or $35 million to $142 million PROPORTIONATE GENERATION FFO • FFO at our North American business was $71 million versus $60 million in the prior year as the benefit from strong asset availability, hig
Slide 13: Wind Operations on Proportionate Basis
Wind Operations on Proportionate Basis FINANCIAL RESULTS FFO increased 38% or $19 million to $69 million 1,266 GWh $69M • FFO at our North American business was $48 million versus $24 PROPORTIONATE GENERATION FFO million in the prior year primarily due to growth from our increased The following tabl
Slide 14: Solar, Energy Transition and Corporate on Proportionate Basis
Solar, Energy Transition and Corporate on Proportionate Basis The following table presents our proportionate results for our solar The following table presents Corporate results for the three and nine business for the three and nine months ended September 30: months ended September 30: Three months
Slide 15: Distribution Payout Ratio
Distribution Payout Ratio Our objective is to pay a distribution that is sustainable on a long-term basis while retaining sufficient liquidity within our operations to fund growth. We fund our growth initiatives through a combination of preferred equity and corporate debt issuances, asset sales, and
Slide 16: Capitalization and Available Liquidity
Capitalization and Available Liquidity CAPITALIZATION AVAILABLE LIQUIDITY A key element of our financing strategy is to raise the majority of We operate with sufficient liquidity to enable us to fund our debt in the form of asset-specific, non-recourse borrowings at growth initiatives, capital expen
Slide 17: Borrowings
Borrowings The following table summarizes our undiscounted principal and scheduled amortization repayments on a proportionate basis: Balance of (MILLIONS) 2021 2022 2023 2024 2025 Thereafter Total Principal repayments(1) Medium term notes(2) $ — $ — $ — $ — $ 315 $ 1,834 $ 2,149 Non-recourse borrowi
Slide 18: Contract Profile
Contract Profile The following table sets out our contracts over the next five years for generation output in North America, Europe, and other countries in Asia on a proportionate basis, assuming long-term average. The table excludes Brazil and Colombia, where we would expect the energy associated w
Slide 19: Development Profile
Development Profile Expected to deliver $124 million of FFO from our recently developed, under construction or construction-ready, and advanced stage development assets. The following table summarizes the 672 MW of assets that reached commercial operations during the year with 490 MW completed durin
Slide 20: Proportionate Results for the Nine Months Ended September 30
Proportionate Results for the Nine Months Ended September 30 For each operating segment, this Supplemental Information outlines Brookfield Renewable’s proportionate share of results in order to demonstrate the impact of key value drivers of each operating segment on the partnership’s overall perform
Slide 21: Appendix 1 – Reconciliation of Non-IFRS Measures
Appendix 1 – Reconciliation of Non-IFRS Measures 21
Slide 22: Segment Reconciliation – Three Months Ended September 30, 2021
Segment Reconciliation on a Proportionate Basis – Three Months Ended September 30, 2021 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to IFRS financial data for the three months ended September 30, 2021: Attributable to Unitholders Contribution from equity- Attribu
Slide 23: Segment Reconciliation – Three Months Ended September 30, 2020
Segment Reconciliation on a Proportionate Basis – Three Months Ended September 30, 2020 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to IFRS financial data for the three months ended September 30, 2020: Attributable to Unitholders Contribution from equity- Attribu
Slide 24: Segment Reconciliation – Nine Months Ended September 30, 2021
Segment Reconciliation on a Proportionate Basis – Nine Months Ended September 30, 2021 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to IFRS financial data for the nine months ended September 30, 2021: Attributable to Unitholders Contribution from equity- Attributa
Slide 25: Segment Reconciliation – Nine Months Ended September 30, 2020
Segment Reconciliation on a Proportionate Basis – Nine Months Ended September 30, 2020 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to IFRS financial data for the nine months ended September 30, 2020: Attributable to Unitholders Contribution from equity- Attributa
Slide 26: Reconciliation of Non-IFRS Measures
Reconciliation of Non-IFRS Measures The following table reconciles the non-IFRS financial metrics presented in this report to the most directly comparable IFRS measures: Three months ended September 30 Nine months ended September 30 (MILLIONS) 2021 2020 2021 2020 Net income (loss) attributable to: L
Slide 27: Reconciliation of Non-IFRS Measures (cont'd)
Reconciliation of Non-IFRS Measures (cont'd) The following table reconciles the non-IFRS per unit financial metrics to the most directly comparable IFRS measures. Earnings per LP unit is reconciled to FFO per Unit and Normalized FFO per Unit for the three and nine months ended September 30: Three mo
Slide 28: Segment Proportionate Balance Sheet
Segment Proportionate Balance Sheet Attributable to Unitholders Contribution Attributable to from equity- non- As per Energy accounted controlling IFRS (MILLIONS) Hydro Wind Solar transition Corporate Total investments interests financials As at September 30, 2021 Cash and cash equivalents $ 87 $ 80
Slide 29: Appendix 2 – Additional Information
Appendix 2 – Additional Information 29
Slide 30: Annualized Proportionate Long-term Average Generation
Annualized Proportionate Long-term Average Generation GENERATION (GWh)(10) Q1 Q2 Q3 Q4 Total Hydroelectric North America United States 2,614 2,805 1,819 2,293 9,531 Canada 619 775 624 619 2,637 3,233 3,580 2,443 2,912 12,168 Colombia 813 887 859 995 3,554 Brazil 988 998 1,009 1,009 4,004 5,034 5,465
Slide 31: Annualized Consolidated Long-term Average Generation
Annualized Consolidated Long-term Average Generation GENERATION (GWh)(10) Q1 Q2 Q3 Q4 Total Hydroelectric North America United States 3,794 3,918 2,525 3,266 13,503 Canada 841 1,064 873 878 3,656 4,635 4,982 3,398 4,144 17,159 Colombia 3,376 3,681 3,567 4,131 14,755 Brazil 1,215 1,228 1,241 1,240 4,
Slide 32: Appendix 3 – Presentation to Stakeholders and Performance Measurement
Appendix 3 – Presentation to Stakeholders and Performance Measurement 32
Slide 33: Presentation to Stakeholders
Presentation to Stakeholders Actual and Long-term Average Generation For assets acquired, disposed or reaching commercial operation during the period, reported generation is calculated from the acquisition, disposition or commercial operation date and is not annualized. As it relates to Colombia onl
Slide 34: Performance Measurement
Performance Measurement One of our primary business objectives is to generate reliable and growing cash flows while minimizing risk for the benefit of all stakeholders. We monitor our performance in this regard through four key metrics – i) Net Income (Loss), ii) Adjusted Earnings Before Interest, T
Slide 35: Performance Measurement (cont'd)
Performance Measurement (cont'd) • Cash Available for Distribution – Cash Available for Distribution is a non-IFRS measure used by investors to analyze net earnings from operations without the effects of certain volatile items that generally have no current financial impact or items not directly rel
Slide 36: Endnotes
Endnotes (1) Share of earnings from equity-accounted investments of $4 million is comprised of amounts found on the share of Adjusted EBITDA, share of interest and cash taxes and share of earnings lines. Net loss attributable to participating non-controlling interests – in operating subsidiaries of
Slide 37: BEP BEPC BEP.UN BEPC
NYSE: NYSE: BEP BEPC TSX: TSX: BEP.UN BEPC https://bep.brookfield.com https://bep.brookfield.com/bepc 37
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