Brookfield Renewable Partners L.P. Files 20-F for Fiscal Year Ended December 31, 2023

TL;DR

<b>Brookfield Renewable Partners L.P. has submitted its 2023 annual report on Form 20-F, detailing its financial performance and corporate structure.</b>

AI Summary

Brookfield Renewable Partners L.P. (BEPJ) filed a Foreign Annual Report (20-F) with the SEC on March 1, 2024. Brookfield Renewable Partners L.P. filed its annual report on Form 20-F for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business is Electric Services (SIC code 4911). Brookfield Renewable Partners L.P. was formerly known as Brookfield Renewable Energy Partners L.P. until October 21, 2011. The filing includes data for various financial instruments and equity types, including Limited Partnership Units and Perpetual Subordinated Notes.

Why It Matters

For investors and stakeholders tracking Brookfield Renewable Partners L.P., this filing contains several important signals. This 20-F filing provides a comprehensive overview of Brookfield Renewable Partners L.P.'s financial position and operational results for the fiscal year 2023, which is crucial for investors to assess the company's performance and future outlook. The detailed information within the filing, including financial data and corporate structure, allows stakeholders to make informed investment decisions and understand the company's compliance with SEC regulations.

Risk Assessment

Risk Level: low — Brookfield Renewable Partners L.P. shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate, significant new risks or disclosures beyond routine corporate information.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F to understand Brookfield Renewable Partners L.P.'s performance and strategic direction for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (The report covers the fiscal year ending on this date.)
• 2024-03-01 — Filing Date (The date the 20-F was filed with the SEC.)
• 4911 — SIC Code (Standard Industrial Classification for Electric Services.)
• 001-35530 — SEC File Number (The SEC's file number for the company.)

Key Players & Entities

• Brookfield Renewable Partners L.P. (company) — Filer of the 20-F report.
• Brookfield Renewable Energy Partners L.P. (company) — Former name of the company.
• 20-F (document) — Form type filed by the company.
• 2024-03-01 (date) — Filing date of the report.
• 2023-12-31 (date) — Fiscal year end date.
• Hamilton, Bermuda (location) — Business and mailing address location.

FAQ

Industry Context

Brookfield Renewable Partners L.P. operates within the Electric Services industry, focusing on renewable energy generation and distribution.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit annual reports like the 20-F.

What Investors Should Do

1. Review the full 20-F filing for detailed financial statements and management discussion.
2. Analyze the company's operational segments and geographical presence as described in the report.
3. Compare key financial metrics from this filing with previous periods to identify trends.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-03-01: Filing Date — The date the annual report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual update for the fiscal year 2023, providing the latest financial and operational data compared to previous reporting periods.

Filing Documents

• bep-20231231.htm (20-F) — 9571KB
• bep2023exh_21.htm (EX-2.1) — 333KB
• bep2023exh_44.htm (EX-4.4) — 31KB
• bep2023exh_45.htm (EX-4.5) — 32KB
• bep2023exh_112.htm (EX-11.2) — 75KB
• bep2023exh_121.htm (EX-12.1) — 12KB
• bep2023exh_122.htm (EX-12.2) — 12KB
• bep2023exh_131.htm (EX-13.1) — 5KB
• bep2023exh_132.htm (EX-13.2) — 5KB
• bep2023exh_151.htm (EX-15.1) — 25KB
• bep2023exh_152.htm (EX-15.2) — 62KB
• bep2023exh_153.htm (EX-15.3) — 5KB
• bep2023exh_171.htm (EX-17.1) — 2KB
• bep2023exh_971.htm (EX-97.1) — 13KB
• bep-20231231_g1.jpg (GRAPHIC) — 413KB
• bep-20231231_g2.jpg (GRAPHIC) — 42KB
• bep-20231231_g3.jpg (GRAPHIC) — 36KB
• bep-20231231_g4.jpg (GRAPHIC) — 58KB
• bep-20231231_g5.jpg (GRAPHIC) — 152KB
• bep-20231231_g6.jpg (GRAPHIC) — 2KB
• bep-20231231_g7.jpg (GRAPHIC) — 3KB
• image_0.jpg (GRAPHIC) — 13KB
• image_0a.jpg (GRAPHIC) — 14KB
• 0001533232-24-000005.txt (&nbsp;) — 38472KB
• bep-20231231.xsd (EX-101.SCH) — 243KB
• bep-20231231_cal.xml (EX-101.CAL) — 180KB
• bep-20231231_def.xml (EX-101.DEF) — 1088KB
• bep-20231231_lab.xml (EX-101.LAB) — 1741KB
• bep-20231231_pre.xml (EX-101.PRE) — 1383KB
• bep-20231231_htm.xml (XML) — 7830KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 14 CAUTIONARY STATEMENT REGARDING THE USE OF NON-IFRS MEASURES 17 PART I 18 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 18 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 18 ITEM 3. KEY INFORMATION 18 3.A [RESERVED] 18 3.B CAPITALIZATION AND INDEBTEDNESS 18 3.C REASONS FOR THE OFFER AND USE OF PROCEEDS 18 3.D

RISK FACTORS

RISK FACTORS 18 ITEM 4. INFORMATION ON THE COMPANY 61 4.A HISTORY AND DEVELOPMENT OF THE COMPANY 61 4.B BUSINESS OVERVIEW 68 4.C ORGANIZATIONAL STRUCTURE 98 4.D PROPERTY, PLANT AND EQUIPMENT 103 ITEM 4A. UNRESOLVED STAFF COMMENTS 103 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 103 5.A OPERATING RESULTS 103 5.B LIQUIDITY AND CAPITAL RESOURCES 157 5.C RESEARCH AND DEVELOPMENT, PATENTS AND LICENSES, ETC. 157 5.D TREND INFORMATION 157 5.E CRITICAL ACCOUNTING ESTIMATES 157 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 157 6.A DIRECTORS AND SENIOR MANAGEMENT 157 6.B COMPENSATION 165 6.C BOARD PRACTICES 166 6.D EMPLOYEES 175 6.E SHARE OWNERSHIP 176 6.F DISCLOSURE OF A REGISTRANT'S ACTION TO RECOVER ERRONEOUSLY AWARDED COMPENSATION 176 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 176 7.A MAJOR SHAREHOLDERS 176 7.B RELATED PARTY TRANSACTIONS 177 7.C INTERESTS OF EXPERTS AND COUNSEL 252 ITEM 8. FINANCIAL INFORMATION 252 8.A CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION 252 8.B SIGNIFICANT CHANGES 253 ITEM 9. THE OFFER AND LISTING 253 9.A OFFER AND LISTING DETAILS 253 9.B PLAN OF DISTRIBUTION 253 9.C MARKETS 253 9.D SELLING SHAREHOLDERS 253 9.E

DILUTION

DILUTION 253 9.F EXPENSES OF THE ISSUE 253 ITEM 10. ADDITIONAL INFORMATION 253 10.A SHARE CAPITAL 253 10.B MEMORANDUM AND ARTICLES OF ASSOCIATION 253 10.C MATERIAL CONTRACTS 283 10.D EXCHANGE CONTROLS 285 10.E TAXATION 285 10.F DIVIDENDS AND PAYING AGENTS 308 10.G 308 10.H DOCUMENTS ON DISPLAY 308 10.I SUBSIDIARY INFORMATION 308 1 0. J A NNUAL REPO RT TO SECURIT Y HOLDERS 308 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 308 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 309 PART II 310 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 310 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 310 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 310 ITEM 16. [RESERVED] 311 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 311 ITEM 16B. CODE OF ETHICS 311 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 311 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEE 311 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 312 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 314 ITEM 16G. CORPORATE GOVERNANCE 314 ITEM 16H. MINE SAFETY DISCLOSURE 314 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 314 ITEM 16J. INSIDER TRADING POLICIES 314 ITEM 16K. CYBERSECURITY 314 PART III 316 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 316 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 316 ITEM 19. EXHIBITS 316 SIGNATURE 320 INDEX TO FINANCIAL STATEMENTS F-1 Table of Contents INTRODUCTION AND USE OF CERTAIN TERMS Unless the context requires otherwise, when used in this annual report on Form 20-F (this " Form 20-F "), the terms " Brookfield Renewable ", " our group ", " we ", " us " and " ou r" refer to Brookfield Renewable Partners L.P. and its controlled entities, including BRELP, the Holding Entities, BEPC and the Operating Entities, each as defined in this Form 20-F, "the partnership " refers to Brookfield Renewable but excludes BEPC; " BEP " refers to Brookfield Renewable Partners L.P.; and " Brookfield " refers to Brookfield Corporation and its subsidiaries (other than Brookfield Renewable) and unless the context otherwise requires, includes Brookfield Asset Management (as defined in this Form 20-F). All references to " our portfolio " include 100% of the capacity and energy of our facilities even though we do not own 100% of the economic output of such facilities (see the table under Item 4.B. "Business Overview — Our Operations" for details on our portfolio). Unless the context suggests otherwise, references to: " 2011 Bond Indenture " means the amended and restated indenture, dated November 23, 2011, among Canadian Finco, The Bank of New York Mellon and BNY Trust Company of Canada, as amended and restated from time to time, governing the Canadian Bonds. " 2021 Bond Indenture " means the indenture, dated August 11, 2021, between Canadian Finco and Computershare Trust Company of Canada. " ABCA " means the Business Corporations Act (Alberta) , R.S.A. 2000, c. B-9, as amended, including the regulations promulgated under such Act. " Adjusted EBITDA " means revenues less direct costs (including energy marketing costs) and other income, before the effects of interest expense, income taxes, depreciation, management service costs, non-controlling interests, unrealized gain or loss on financial instruments,

View Full Filing

View this 20-F filing on SEC EDGAR