Brookfield Renewable Corp Files 20-F for Fiscal Year 2023

Ticker: BEPC · Form: 20-F · Filed: 2024-03-01T00:00:00.000Z

Sentiment: neutral

Topics: Brookfield Renewable, BEPC, 20-F, Annual Report, Financials

TL;DR

<b>Brookfield Renewable Corp has submitted its 2023 annual report (20-F), detailing financial performance and corporate information.</b>

AI Summary

Brookfield Renewable Corp (BEPC) filed a Foreign Annual Report (20-F) with the SEC on March 1, 2024. Brookfield Renewable Corp filed its annual 20-F report 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 address is 250 Vesey Street, 15th Floor, New York, NY 10281-1023. Brookfield Renewable Corp is classified under the Electric Services industry (SIC code 4911). The report includes financial data for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking Brookfield Renewable Corp, this filing contains several important signals. This 20-F filing provides a comprehensive overview of Brookfield Renewable Corp's financial position and operational results for the fiscal year 2023, crucial for investors assessing the company's performance and outlook. The detailed financial statements and disclosures within the 20-F are essential for understanding the company's assets, liabilities, equity, and non-controlling interests, impacting investment decisions.

Risk Assessment

Risk Level: medium — Brookfield Renewable Corp shows moderate risk based on this filing. The filing is a standard annual report (20-F) which typically contains a broad range of financial and operational information, but lacks specific performance metrics or forward-looking statements in the provided snippet.

Analyst Insight

Investors should review the full 20-F filing to analyze Brookfield Renewable Corp's detailed financial statements, risk factors, and management discussion for a comprehensive understanding of its 2023 performance.

Key Numbers

Key Players & Entities

FAQ

When did Brookfield Renewable Corp file this 20-F?

Brookfield Renewable Corp filed this Foreign Annual Report (20-F) with the SEC on March 1, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by Brookfield Renewable Corp (BEPC).

Where can I read the original 20-F filing from Brookfield Renewable Corp?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Brookfield Renewable Corp.

What are the key takeaways from Brookfield Renewable Corp's 20-F?

Brookfield Renewable Corp filed this 20-F on March 1, 2024. Key takeaways: Brookfield Renewable Corp filed its annual 20-F report 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 address is 250 Vesey Street, 15th Floor, New York, NY 10281-1023..

Is Brookfield Renewable Corp a risky investment based on this filing?

Based on this 20-F, Brookfield Renewable Corp presents a moderate-risk profile. The filing is a standard annual report (20-F) which typically contains a broad range of financial and operational information, but lacks specific performance metrics or forward-looking statements in the provided snippet.

What should investors do after reading Brookfield Renewable Corp's 20-F?

Investors should review the full 20-F filing to analyze Brookfield Renewable Corp's detailed financial statements, risk factors, and management discussion for a comprehensive understanding of its 2023 performance. The overall sentiment from this filing is neutral.

How does Brookfield Renewable Corp compare to its industry peers?

Brookfield Renewable Corp operates in the Electric Services industry, providing electricity generation and distribution services.

Are there regulatory concerns for Brookfield Renewable Corp?

The company is subject to SEC regulations for its public filings, including the annual 20-F report, which ensures transparency for investors.

Industry Context

Brookfield Renewable Corp operates in the Electric Services industry, providing electricity generation and distribution services.

Regulatory Implications

The company is subject to SEC regulations for its public filings, including the annual 20-F report, which ensures transparency for investors.

What Investors Should Do

  1. Review the full 20-F filing for detailed financial statements and disclosures.
  2. Analyze the company's risk factors section for potential investment concerns.
  3. Compare 2023 financial performance against previous years (2021, 2022) as presented in the filing.

Key Dates

Year-Over-Year Comparison

This filing is the 20-F annual report for fiscal year 2023, providing updated financial and operational data compared to previous filings.

Filing Stats: 4,659 words · 19 min read · ~16 pages · Grade level 10.5 · Accepted 2024-03-01 06:40:13

Filing Documents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 12 CAUTIONARY STATEMENT REGARDING THE USE OF NON-IFRS MEASURES 15 PART I 17 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 17 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 17 ITEM 3. KEY INFORMATION 17 3.A [RESERVED] 17 3.B CAPITALIZATION AND INDEBTEDNESS 17 3.C REASONS FOR THE OFFER AND USE OF PROCEEDS 17 3.D

RISK FACTORS

RISK FACTORS 17 ITEM 4. INFORMATION ON THE COMPANY 57 4.A HISTORY AND DEVELOPMENT OF THE COMPANY 57 4.B BUSINESS OVERVIEW 60 4.C ORGANIZATIONAL STRUCTURE 75 4.D PROPERTY, PLANT AND EQUIPMENT 77 ITEM 4A. UNRESOLVED STAFF COMMENTS 77 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 77 5.A OPERATING RESULTS 77 5.B LIQUIDITY AND CAPITAL RESOURCES 119 5.C RESEARCH AND DEVELOPMENT, PATENTS AND LICENSES, ETC. 120 5.D TREND INFORMATION 120 5.E CRITICAL ACCOUNTING ESTIMATES 120 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 120 6.A DIRECTORS AND SENIOR MANAGEMENT 121 6.B COMPENSATION 130 6.C BOARD PRACTICES 130 6.D EMPLOYEES 138 6.E SHARE OWNERSHIP 139 6.F DISCLOSURE OF A REGISTRANT'S ACTION TO RECOVER ERRONEOUSLY AWARDED COMPENSATION 139 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 139 7.A MAJOR SHAREHOLDERS 140 7.B RELATED PARTY TRANSACTIONS 141 7.C INTEREST OF EXPERTS AND COUNSEL 215 ITEM 8. FINANCIAL INFORMATION 215 8.A CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION 215 8.B SIGNIFICANT CHANGES 215 ITEM 9. THE OFFER AND LISTING 215 9.A OFFER AND LISTING DETAILS 215 9.B PLAN OF DISTRIBUTION 215 9.C MARKETS 215 9.D SELLING SHAREHOLDERS 216 9.E

DILUTION

DILUTION 216 9.F EXPENSES OF THE ISSUE 216 ITEM 10. ADDITIONAL INFORMATION 216 10.A SHARE CAPITAL 216 10.B MEMORANDUM AND ARTICLES OF ASSOCIATION 216 10.C MATERIAL CONTRACTS 239 10.D EXCHANGE CONTROLS 241 10.E TAXATION 241 10.F DIVIDENDS AND PAYING AGENTS 253 10.G STATEMENT OF EXPERTS 253 10.H DOCUMENTS ON DISPLAY 253 10.I SUBSIDIARY INFORMATION 253 1 0.J A NNUAL REPORT TO SECURITY HOLDERS 254 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 254 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 254 PART II 255 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 255 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 255 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 255 ITEM 16. [RESERVED] 256 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 256 ITEM 16B. CODE OF ETHICS 256 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 256 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEE 256 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 256 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 257 ITEM 16G. CORPORATE GOVERNANCE 257 ITEM 16H. MINE SAFETY DISCLOSURE 257 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 257 ITEM 16J. INSIDER TRADING POLICIES 257 ITEM 16K. CYBERSECURITY 257 PART III 259 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 259 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 259 ITEM 19. EXHIBITS 259 SIGNATURE 262 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 " our company ", " we ", " us " and " our " refer to Brookfield Renewable Corporation and its direct and indirect operating entities as a group; " Brookfield Renewable " and " our group ", 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, unless the context indicates or requires otherwise, to Brookfield Renewable and its controlled subsidiaries, excluding our company; 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 20F). All references to " our portfolio " include 100% of the capacity and energy of the facilities even though we do not own 100% of our 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. " 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 i

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