Core Insights - Clean energy is the fastest-growing segment in the global energy market, despite being a modest contributor overall [1] - NextEra Energy and Brookfield Renewable are highlighted as attractive options for dividend investors in the clean energy sector [2] NextEra Energy - NextEra Energy operates primarily in the utility sector, with a strong foundation in Florida's regulated electricity market, benefiting from population growth and a monopoly in its operational regions [3] - The company is a leading generator of solar and wind power, distinguishing it from competitors and contributing to its rapid growth [4] - Over the past 20 years, NextEra Energy's earnings have grown at more than double the rate of its closest competitors, with a 10% annual dividend growth over the last decade [5][6] - The current dividend yield of 3.2% is above the utility average of 2.9%, making it an attractive option for income-focused investors [5] Brookfield Renewable - Brookfield Renewable focuses exclusively on clean energy, with investments in hydroelectric, solar, wind, battery storage, and nuclear power across multiple continents [8] - The partnership share class offers a distribution yield of 6.6%, while the corporate version provides a 5.3% yield, appealing to different types of investors [8] - The company aims to increase its disbursement by 5% to 9% annually, presenting a strong dividend growth narrative [9] - Unlike traditional utilities, Brookfield actively manages its portfolio, which may introduce variability but allows for strategic asset management [10][11] Clean Energy Transition - The long-term clean energy transition presents significant growth opportunities for both NextEra Energy and Brookfield Renewable, with a potential runway for decades [12] - Conservative investors may prefer NextEra for its utility foundation, while those willing to take on more risk may find Brookfield's higher yield and compelling story attractive [13]

Financial Reporting and Standards - Brookfield Renewable's financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) [88]. - All dollar amounts are expressed in U.S. dollars unless otherwise indicated [89]. - The Management's Discussion and Analysis contains forward-looking information within the meaning of U.S. and Canadian securities laws [90]. - Certain comparative figures have been reclassified to conform to the current year's presentation [89]. - The company utilizes non-IFRS financial measures to explain its financial results [90]. - A reconciliation of the non-IFRS financial measures to the most comparable IFRS financial measures is available [90]. - The Management's Discussion and Analysis is provided as of February 28, 2025, for the year ended December 31, 2024 [86]. - Brookfield Renewable's financial statements are prepared in accordance with IFRS, requiring estimates and judgments related to assets, liabilities, revenues, and expenses [257]. Company Structure and Ownership - The ultimate parent of Brookfield Renewable is Brookfield Corporation, which includes Brookfield Asset Management [86]. - Holders of various units, including LP units and exchangeable shares, are collectively referred to as "Unitholders" [87]. Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching $1.5 billion for the quarter [91]. - Revenues for 2024 reached $5,876 million, an increase of $838 million or 16.6% compared to 2023 [100]. - The company reported a net loss attributable to Unitholders of $464 million for the year ended December 31, 2024, compared to a loss of $100 million in 2023 [196]. - Funds From Operations totaled $1,217 million, or $1.83 per Unit, reflecting an increase from $1,095 million or $1.67 per Unit in the prior year [93]. - The company reported a significant increase in Adjusted EBITDA from $2,002 million in 2022 to $2,408 million in 2024, indicating a positive growth trend [162][164]. - In 2024, the company reported a net loss of $9 million compared to a net income of $616 million in 2023, and $138 million in 2022 [165]. Growth and Market Expansion - User data showed a growth of 20% in active users, totaling 10 million users by the end of the quarter [91]. - The company provided a future outlook with a revenue guidance of $1.6 billion for the next quarter, representing a 7% increase [91]. - The company is expanding its market presence in Asia, targeting a 25% increase in market share by the end of the fiscal year [91]. - The company deployed or committed to deploy $12.5 billion into growth initiatives, marking the largest investment year ever [94]. - The development pipeline now stands at approximately 200,000 MW, with a commissioning pace of nearly 7,000 MW per year, targeting a run rate of ~10,000 MW per annum by 2027 [95]. Capital Expenditures and Investments - Capital expenditures for the quarter were reported at $50 million, focusing on infrastructure improvements [91]. - The company announced a new research and development initiative with a budget of $10 million aimed at innovative product features [91]. - The company invested $3,733 million in the construction and development of renewable energy projects globally in 2024 [185]. - The company completed asset sales generating $2.8 billion, achieving average returns of approximately 25% IRR [97]. Liquidity and Financial Position - Liquidity position remains strong with available liquidity of $300 million [91]. - Available liquidity at year-end was $4,320 million, up from $4,121 million in 2023 [98]. - The company has $2.45 billion in committed revolving credit facilities available for investments and acquisitions [177]. - Cash flow from operating activities before changes totaled $1,562 million in 2024, an increase from $1,390 million in 2023 [179]. Operational Costs and Expenses - Direct operating costs rose to $2,580 million, an increase of $647 million compared to the prior year, primarily due to costs from newly acquired facilities [102]. - Interest expense increased to $1,988 million, reflecting a rise of $361 million compared to 2023, attributed to recent acquisitions and financing initiatives [103]. - Depreciation expenses for 2024 amounted to $2,010 million, while in 2023 it was $1,852 million, and in 2022 it was $1,583 million [162][163][164]. Renewable Energy Generation - Total renewable generation in 2024 was 30,947 GWh, up from 29,082 GWh in 2023, with total revenues increasing to $3,246 million from $2,826 million [140]. - Wind operations generated $484 million in Funds From Operations in 2024, an increase from $382 million in 2023, driven by newly acquired facilities and stronger generation [146]. - Utility-scale solar operations saw Funds From Operations rise to $349 million in 2024 from $261 million in 2023, benefiting from stronger generation and asset sales [147]. - Distributed energy & storage operations reported Funds From Operations of $186 million in 2024, up from $133 million in 2023, due to new facilities [148]. Risks and Challenges - The company faces risks from climate change affecting resource availability and electricity generation capacity [208]. - Future re-contracting of long-term contracts may not yield similar terms, impacting financial performance [214]. - The occurrence of dam failures could lead to significant capital expenditures and liabilities, impacting generating capacity and potentially resulting in new regulations [219]. - The company relies on third-party service providers for critical business functions, exposing it to risks from disruptions or cybersecurity threats [229]. Corporate Governance and Structure - Brookfield Corporation exercises substantial influence over Brookfield Renewable, impacting its management and operational decisions [253]. - The departure of key professionals from Brookfield could adversely affect the company's ability to achieve its objectives, as it relies on their skills and business contacts [255]. Future Outlook - The company plans to continue expanding its renewable energy portfolio and investing in new technologies to enhance operational efficiency and market presence [151]. - The company anticipates future demand growth for renewable energy in North America by 2028 to 2035, and in Colombia and Brazil by 2028 and 2030, respectively [273].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 20-F o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR o SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commiss ...

The benefits of investing in dividend stocks can feel modest when the major market indexes are notching all-time highs. But the passive income they provide can be an excellent supplement to your finances no matter what equity prices are doing.With the S&P 500 (^GSPC) yielding just 1.2%, investors will have to look beyond index funds if they want to generate meaningful levels amount of dividend income. If that's your goal, United Parcel Service (UPS), Brookfield Renewable (BEPC) (BEP), and Conagra Brands (CA ...

Core Insights - Brookfield Renewable is positioned as a leading global renewable energy producer with significant growth potential, driven by multiple catalysts that could lead to double-digit annual earnings-per-share growth for years to come [1] Acquisition and Growth Strategy - Brookfield Renewable and its partners have agreed to acquire National Grid's onshore renewable energy business for over $1.7 billion, enhancing its ability to increase its 5%-yielding dividend [2][3] - The acquisition includes a U.S. onshore renewable energy platform with 1.8 gigawatts (GW) of operating capacity and an additional 1.3 GW under construction, further solidifying Brookfield's market position [3] Recent Acquisitions - The company has made several strategic acquisitions, including Duke Energy's commercial U.S. renewable energy business for $2.8 billion in 2023, which added 5.9 GW of operating and under-construction assets [5] - In 2022, Brookfield agreed to invest up to $2 billion into Scout Clean Energy and Standard Solar, significantly scaling its U.S. onshore renewable energy capacity [6] Growth Projections - Brookfield Renewable has secured growth through 2029, with inflation escalations in power purchase agreements (PPAs) expected to add 2% to 3% to funds from operations (FFO) per share annually [7] - The company anticipates margin enhancements from higher market power prices as legacy PPAs expire, contributing an additional 2% to 4% to FFO per share each year [7] Development Pipeline - Brookfield has a substantial backlog of development projects, totaling 200 GW, with 65 GW in an advanced stage, aiming to increase its annual commissioning pace from 7 GW to 10 GW [8] - These development projects are projected to add another 4% to 6% to FFO per share each year [8] M&A Impact - The National Grid acquisition is expected to enhance Brookfield's growth rate by providing incremental income from operating assets while expanding its development project backlog [9] - The company believes that continued accretive acquisitions will support FFO per-share growth rates above 10% annually, facilitating a 5% to 9% annual increase in its dividend [9] Total Return Potential - Brookfield Renewable anticipates FFO growth exceeding 10% annually, bolstered by acquisitions like the National Grid deal, which will contribute to cash flow and growth profile [10] - The combination of income from dividends and growth rates positions Brookfield Renewable for powerful total returns in the coming years, making it an attractive long-term investment [11]

Group 1 - The market is currently influenced by expectations regarding the impact of the artificial intelligence revolution on the global economy over the coming years and decades [1] - Stocks such as Nvidia have been significantly priced based on these expectations [1] Group 2 - The article does not provide specific financial data or performance metrics related to companies or sectors [2][3]

The energy sector can be a great source of durable passive income if you know where to look. While commodity price volatility can affect the cash flows of many energy companies, others have business models designed to mute the impact of that volatility on their earnings, so they can generate steadier cash flow to help support their growing dividends. Enbridge (ENB -3.83%) and Brookfield Renewable (BEPC 0.87%) (BEP 0.13%) have been dividend stalwarts in the energy sector over the decades. They're in strong p ...

Samuel Smith has a diverse background that includes being lead analyst and Vice President at several highly regarded dividend stock research firms and running his own dividend investing YouTube channel. He is a Professional Engineer and Project Management Professional and holds a B.S. in Civil Engineering & Mathematics from the United States Military Academy at West Point and has a Masters in Engineering from Texas A&M with a focus on applied mathematics and machine learning.Samuel leads the High Yield Inve ...

Dividend stocks can be terrific investments. The best ones provide investors with passive income and upside potential. That adds up over the long term. Over the last 50 years, dividend stocks have outperformed non-payers by more than 2-to-1, according to data from Hartford Funds and Ned Davis Research. Brookfield Renewable (BEPC 0.04%) (BEP -0.93%), MPLX (MPLX -0.69%), and Waste Management (WM -0.00%) stand out to a few Fool.com contributors as great dividend stocks to buy this month. Here's why they think ...

Brookfield Renewable (BEPC -2.96%) (BEP -4.34%) has become a force in the clean energy sector. The company has built a diversified platform with nearly unmatched scale and expertise across geographies and technologies. That's increasingly making it the partner of choice for companies seeking to secure enough power to meet their future energy needs. The opportunity to supply clean power to corporations has never been greater. Few companies are in as strong a position to capitalize on this trend as Brookfield ...