Brookfield Renewable Corp. (BEPC) reported FY 2025 revenue of USD 3.7 billion (-10.0%) and a net loss of USD 2.3 billion, driven primarily by a USD 1.7 billion loss from remeasurement of shares classified as financial liabilities linked to movements in the LP unit and BEPC exchangeable share price. Direct operating costs were USD 1.5 billion (-15.4%), interest expense was USD 1.7 billion, and depreciation was USD 1.2 billion. BEPC ended FY 2025 with total assets of USD 46.3 billion and non-recourse borrowings of USD 15.3 billion, while available liquidity was USD 4.6 billion. On a proportionate basis, FY 2025 revenues were USD 1.8 billion, adjusted EBITDA was USD 1.2 billion, and funds from operations (FFO) were USD 628 million. By segment, proportionate FY 2025 FFO was USD 480 million (hydroelectric), USD 68 million (wind), USD 102 million (utility-scale solar), and USD 73 million (distributed energy & sustainable solutions). Corporate updates included a December 2024 arrangement that made BEPC the successor issuer to the former BEPC structure and resulted in exchangeable shares being classified as financial liabilities (carrying value USD 5.0 billion at December 31, 2025). BEPC also highlighted asset rotation and transactions, including the transfer of a 220 MW U.S. storage portfolio under construction to a partnership subsidiary for about USD 114 million, and sales of a 25% interest in a 403 MW U.S. hydro portfolio (about USD 230 million proceeds, USD 111 million net to BEPC) and a 700 MW U.S. distributed generation portfolio (about USD 546 million proceeds, USD 215 million net to BEPC). Subsequent to year-end, BEPC established a USD 400 million at-the-market equity program and issued 635,247 BEPC exchangeable shares for about USD 28 million in gross proceeds.

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