Brookfield Renewable’s latest update reinforces the central theme we have been discussing with clients: electricity demand is strengthening meaningfully, driven by electrification, reindustrialization, digitalization, and AI. Management’s message was that this is creating a large and durable opportunity for scaled power providers, and that Brookfield Renewable enters this period from a position of strength, with record 2025 results, substantial capital recycling proceeds, strong liquidity, and a deep runway for future growth. Here is a quick bullet list of the Brookfield Renewable year in review.

• • • 2025 was a record year for Brookfield Renewable, which management said continued its long-term track record of value creation.
    • The company generated record FFO of $2.01 per unit in 2025.
    • Brookfield Renewable commissioned 8 gigawatts of new capacity during the year, the highest level in its history.
    • The company generated a record $4.5 billion of asset recycling proceeds in 2025.
    • Brookfield Renewable committed or deployed $8.8 billion into new investments over the course of the year.
    • The business maintained its BBB+ credit rating, which management cited as evidence of a best-in-class balance sheet.
    • Over the last 12 months, Brookfield delivered 13% growth in FFO on a total basis.
    • On a per-unit basis, the company generated 12% FFO growth over the same period.
    • Brookfield supported another 5% increase in distributions.
    • The company entered into several major strategic partnerships during the year, including agreements with Google and the U.S. government, which management said demonstrated its ability to provide large-scale solutions to sophisticated counterparties.