Mission Statement, Vision, & Core Values (2024) of Brookfield Renewable Corporation (BEPC).

An Overview of Brookfield Renewable Corporation (BEPC)

General Summary of Brookfield Renewable Corporation (BEPC)

Brookfield Renewable Corporation (BEPC) is a leading global renewable power company that focuses on the generation of clean energy from hydroelectric, wind, and solar sources. Established as part of Brookfield Asset Management, BEPC has evolved to become a key player in the renewable energy sector, emphasizing sustainability and environmental responsibility.

As of 2024, Brookfield Renewable operates over 20,000 megawatts of renewable power capacity across various regions, including North America, South America, and Europe. The company primarily generates revenue through the sale of electricity from its renewable assets, which include:

• Hydroelectric power plants
• Wind farms
• Utility-scale solar projects
• Distributed energy and storage solutions

In 2024, Brookfield Renewable reported sales of approximately $1.125 billion for the first quarter, up from $1.066 billion in the same period the previous year.

Company's Financial Performance in the Latest Financial Reports

Brookfield Renewable Corporation reported strong financial performance for the first quarter of 2024. The company achieved:

• Net Income: $491 million, compared to a net loss of $920 million in the same quarter of 2023.
• Funds From Operations (FFO): $296 million, or $0.45 per unit, representing an 8% increase from $275 million or $0.43 per unit in Q1 2023.
• Revenues: $1.125 billion, an increase from $1.066 billion in the prior year.
• Direct Operating Costs: $484 million, up from $304 million in Q1 2023.

The company also highlighted its significant growth initiatives, including:

• Securing contracts to deliver an incremental ~5,200 gigawatt hours per year of generation.
• A landmark partnership with Microsoft to deliver over 10,500 megawatts of new renewable energy capacity by 2030.
• Progressing asset recycling activities expected to generate $3 billion in proceeds.

Introduction to Company as One of the Leaders in the Industry

Brookfield Renewable Corporation is recognized as one of the leading companies in the renewable energy sector. With a strong commitment to sustainability and a diversified portfolio of assets, BEPC is well-positioned to capitalize on the growing demand for clean energy solutions.

The company has established itself as a key enabler of the digital economy, driven by the increasing demand for power from cloud computing and AI technologies. Brookfield Renewable's robust operational capabilities and strategic partnerships, such as the one with Microsoft, underscore its leadership in the industry and its potential for future growth.

For a deeper understanding of Brookfield Renewable's strategies and market position, further exploration of their operational highlights and future outlook is encouraged.

Mission Statement of Brookfield Renewable Corporation (BEPC)

Mission Statement of Brookfield Renewable Corporation (BEPC)

Brookfield Renewable Corporation (BEPC) is dedicated to providing renewable energy solutions that contribute to a sustainable future. The company's mission statement emphasizes its commitment to maximizing the potential of renewable energy resources while ensuring high-quality service delivery and operational excellence. This mission is significant as it guides the company's long-term objectives and strategic initiatives, aligning its operations with global sustainability goals.

Core Components of the Mission Statement

1. Commitment to Renewable Energy

Brookfield Renewable Corporation positions itself as a leader in the renewable energy sector. The company aims to harness a diverse range of renewable resources, including hydro, wind, and solar power, to meet the growing energy demands of the global economy. As of March 31, 2024, the company reported that its hydroelectric segment generated $193 million in Funds From Operations (FFO), accounting for a significant portion of its total revenue.

2. Delivering High-Quality Products and Services

BEPC is committed to delivering high-quality renewable energy solutions that meet the diverse needs of its customers. The company has secured contracts to generate an additional 5,200 gigawatt hours annually, reflecting its operational capabilities and strategic partnerships. Its recent landmark agreement with Microsoft highlights this commitment, where BEPC will deliver over 10,500 megawatts of renewable energy capacity between 2026 and 2030.

3. Operational Excellence and Sustainability

Operational excellence is a critical focus for Brookfield Renewable. The company continuously seeks to improve its operational efficiency and reduce costs. In Q1 2024, BEPC reported total revenues of $1,125 million, up from $1,066 million in Q1 2023. The firm also maintains a strong balance sheet with approximately $4.4 billion in available liquidity, positioning it well for future growth.

Brookfield Renewable's mission statement is a reflection of its dedication to advancing renewable energy solutions, ensuring high-quality service delivery, and maintaining operational excellence. Through strategic initiatives and partnerships, BEPC aims to play a pivotal role in the global transition to sustainable energy sources.

Vision Statement of Brookfield Renewable Corporation (BEPC)

Vision Statement Overview

The vision statement of Brookfield Renewable Corporation (BEPC) emphasizes its commitment to being a leading player in the renewable energy sector. The company aims to provide sustainable energy solutions that support the global shift towards clean power.

Commitment to Sustainability

Brookfield Renewable Corporation reinforces its dedication to sustainability by focusing on the development of renewable energy sources. As of 2024, the company has set a target to bring on approximately 7,000 megawatts of new renewable capacity within the year. This aligns with their vision of contributing to a sustainable future.

Partnerships for Growth

In 2024, Brookfield Renewable entered into a significant partnership with Microsoft, where it is expected to deliver over 10,500 megawatts of renewable energy capacity in the U.S. and Europe between 2026 and 2030. This partnership not only enhances Brookfield's capacity but also solidifies its role as a key enabler in the digital economy's energy needs.

Market Positioning

Brookfield Renewable positions itself as a leader in the clean power sector, with a robust portfolio of assets and a strong financial foundation. The company reported revenues of $1,125 million for the three months ended March 31, 2024, an increase from $1,066 million in the same period of 2023. This growth is indicative of its effective strategy and market positioning.

Financial Stability and Liquidity

As of March 31, 2024, Brookfield Renewable had total assets amounting to $44,240 million, with available liquidity of $4.4 billion, allowing it to capitalize on attractive investment opportunities. This financial stability supports the company’s vision of expanding its renewable energy portfolio and enhancing its operational capabilities.

Innovation and Development

Brookfield Renewable is committed to innovation, focusing on the integration of advanced technologies in its operations. The company is actively pursuing opportunities in the distributed energy and storage segments, generating a combined $67 million of FFO. This reflects its strategic vision to diversify its energy solutions and enhance its market offerings.

Global Impact and Future Outlook

The vision of Brookfield Renewable includes making a significant impact globally by supporting the transition to renewable energy. With the increasing demand for sustainable power solutions, the company aims to leverage its extensive pipeline of advanced stage projects, thereby positioning itself as a pivotal player in the global energy landscape.

Core Values of Brookfield Renewable Corporation (BEPC)

Integrity

Brookfield Renewable Corporation (BEPC) emphasizes integrity as a core value, ensuring transparency and accountability in all operations. This commitment is evident in their financial reporting practices, which adhere to strict regulatory guidelines.

For example, in their Q1 2024 financial statements, BEPC reported a net income attributable to the partnership of $491 million, showcasing their commitment to accurate and honest financial disclosures.

Sustainability

BEPC's core value of sustainability drives its operational strategies. The company focuses on renewable energy generation, with a target of adding approximately 7,000 megawatts of new renewable capacity in 2024.

The partnership with Microsoft to deliver over 10,500 megawatts of renewable energy capacity by 2030 further exemplifies BEPC's commitment to sustainable practices.

Innovation

Innovation is a cornerstone of BEPC's strategy, leading to the development of advanced energy solutions. In Q1 2024, the company generated funds from operations (FFO) of $296 million, reflecting an 8% increase from the previous year.

BEPC's investment in technology, such as the acquisition of Westinghouse, enhances their performance in distributed energy and storage, which generated $67 million in FFO.

Collaboration

Collaboration is vital to BEPC's success, as demonstrated by strategic partnerships with major corporations. Their agreement with Microsoft is a notable example, allowing the company to support the growth of AI-powered cloud services through renewable energy.

This collaboration not only aids in expanding their renewable energy capacity but also positions BEPC as a leader in providing clean energy solutions.

Excellence

BEPC strives for excellence in all aspects of its operations. The company reported revenues of $1,125 million for Q1 2024, an increase from $1,066 million in the previous year, reflecting their commitment to operational efficiency and quality.

The focus on excellence is also evident in their hydroelectric segment, which generated FFO of $193 million, driven by strong resource management and pricing.