Brookfield Renewable highlights 10 GW, three-year solar, storage and wind project development pipeline

Standard Solar Lenox, NY community solar and storage project


Brookfield Renewable Partners (BEP), a Canadian-listed renewable energy developer, plans to commission more than 10 GW of utility and distributed solar, storage and wind projects over the next three years, building its portfolio from three newly acquired businesses, Scout Clean Energy, Standard Solar and Urban Grid.

Fresh off of a trio of M&A deals including most recently Standard Solar for $540 million and Scout Clean Energy for $1 billion, the Canadian project development company aims to accelerate project development efforts later in the next decade, said Connor Teskey, Brookfield Renewable’s CEO, on the company’s Friday Q3 2022 earnings call.

“Three years from now, when we look to the next three years, we’ll be looking to build far more than 10GW out in that period as well,” Teskey said on the company’s Q3 22 call.

The Scout Clean Energy acquisition brings a sizable 22 GW project pipeline to BEP’s long-term portfolio of utility wind and solar projects, while Standard Solar adds a 500 MW development portfolio and 2 GW of long-term pipeline distributed generation (DG) solar projects.

Its recent acquisitions combined with its active portfolio bring BEP’s development pipeline to more than 60 GW of wind, utility solar, distributed generation projects and storage

During its Q3 earnings call, BEP’s management disclosed that the company commenced commissioning of a 1.2 GW Brazilian solar project while continuing to execute on a 19 GW development pipeline.

Capitalizing on the accelerating energy transition, BEP reported $2.82 billion in revenues for the nine months ending September 30, a 14.6% year over year increase from $2.46 billion generated in the 2021 period.

The company’s shares traded at $29.90 this afternoon, down 23% from $38.64 a year ago, with a $10.9 billion market capitalization.

BEP Recent M&A Portfolio
BEP’s three most recent M&A transactions carry an aggregate of 46 GW of multi-year solar, DG, storage and wind projects.

Image: Brookfield Renewable Partners, investor relations.

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