Brookfield Renewable Partners (BEP) Investor Day 2026 summary

Market Trends and Strategic Positioning

• Energy demand is outpacing supply, driven by electrification, reindustrialization, digitalization, and the rise of AI and data centers, creating enduring growth opportunities.

• Renewables, batteries, and nuclear are the dominant and fastest-growing sources of new energy capacity, with renewables accounting for 80% of net additions in 2025 and battery capacity growing at an 80% CAGR over four years.

• Nuclear is entering a new era, with 38 countries expanding its role and a 300 GW target expansion in the U.S. by 2050; ownership of Westinghouse positions the company at the center of this build-out.

• The business has established leading platforms in hydro, wind, solar, and energy storage, with significant expansion through acquisitions like Boralex, Neoen, and Aypa, and is positioned as a leading global renewables operator.

• Scale, access to capital, and global reach enable selective investment in the most attractive opportunities and provide resilience against market and policy changes.

Growth Model and Business Development

• Growth is driven by disciplined development, opportunistic M&A, and a virtuous cycle of deploying scale capital to further expand the platform and capture outsized energy demand.

• Battery storage has grown from virtually zero to 5 GW operating capacity and an 80 GW development pipeline in three years, leveraging falling costs and evolving contract structures.

• The development pipeline across solar, wind, and storage totals 90 GW, with annual project commissioning expected to reach 11 GW by 2028, a 40% increase from recent levels.

• M&A remains a core advantage, with four recent deals each exceeding $6 billion in enterprise value, a $100B M&A opportunity pipeline, and a new deployment target of over $11 billion for the next five years.

• Capital recycling is a key funding lever, generating $1 billion annually, supporting reinvestment into higher-return opportunities and expanding the recycling toolkit.

Financial Performance and Guidance

• Record financial results achieved, with FFO per unit and distributions growing for 15 consecutive years, and FFO growing at a 13% CAGR over the past decade.

• Liquidity exceeds $5 billion, with $40 billion in financing expected for 2026, and credit rating improved to BBB+.

• 90% of cash flows are contracted for over 12 years, 70% are inflation-linked, and 95% of financing is fixed-rate with a 14-year average maturity, providing stability and predictability.

• Confident in delivering 10%+ annual cash flow growth without M&A, with additional upside from acquisitions and capital recycling; macro trends support FFO growth above 10%.

• Funding model supports flexible, scalable capital deployment, with $1B+ annual asset recycling proceeds and expanded recycling toolkit.