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Brookfield Renewable LP , Brookfield Renewable Corp. Q2-2021 Earnings, Price Targets

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Brookfield Renewable Energy LP(BEP.UN), Brookfield Renewable Corp. (BEPC) $44B (at their interest) in $59B of power generating assets comprised of approximately 900 facilities totaling 21,000MW (12,600MW net to BEP share) as at Jun-30-2021. The development pipeline of 27,000MW, is budgeted at over $9.5B at Brookfield's share over the next 5 years mainly comprised of wind and solar and weighted to Europe. Generating capacity is comprised of hydro - 52% and 22% wind power, solar 16% and pumped storage -5% and other at 5%. Generation capacity is located in North America -40%, Columbia, Brazil at 25% and Europe-24% and Asia at 11%. Financial statements are issued in US dollars. Dividends are paid in either Canadian equivalent or US dollars. Brookfield Asset Management (BAM.A) with $609B in total assets under management owns 48% of Brookfield Renewable Energy (BEP.UN). Brookfield Renewable Energy Corporation (BEPC) was formed with assets from Brookfield Renewable Energy LP(BEP.UN) during the 1H-2020. (see section on BEPC formation). The quarterly distributions payable on L.P. Units of Brookfield Renewable Energy Partners are declared in U.S. dollars. Unitholders can elect to receive the distributions in either US dollars or equivalent. Unless requested, shareholders will receive distributions in U.S. dollars. Eleven distribution increases have occurred from Nov-2011 to Jan-2022 at an approximate annual 6% growth rate adjusted for the 3:2 stock split in Dec-2020.

In Nov-2011 power generation assets held in Brookfield Renewable Power Inc. and Brookfield Renewable Power Fund were combined to launch Brookfield Renewable Energy Partners LP (BEP.UN). Units of Brookfield Renewable Energy Fund (BRC.UN) were exchanged 1 for 1 for BEP.UN shares. Brookfield Renewable Power Inc. was a wholly owned subsidiary of Brookfield Asset Management Inc. (BAM) who prior to the transaction owned 34% of Brookfield Renewable Energy (BRC.UN.) BAM initially retained a 74% interest in the new entity until Jan-24-2012 when they reduced this to 68% by way of a secondary offering, and then to 62.5% with another secondary offering on Mar-13-2013. Secondary offerings in Jan-2020 and in-2021 reduced Brookfield's Asset Management's interest to 57% then to 48% in Jan-2021.

On Jul-31-2020, Brookfield Renewable completed the acquisition of the remaining 38% of TerraForm Power, Inc. Terraform Power shareholders were paid with shares of Brookfield Renewable Corp(BEPC)

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