Brookfield Renewable Partners L.P. (NYSE:BEP) Q3 2022 Earnings Conference Call November 4, 2022 8:30 AM ET
Company Participants
Connor Teskey - Chief Executive Officer
Wyatt Hartley - Chief Financial Officer
Esper Nemi - Vice President, North America
Conference Call Participants
Robert Hope - Scotiabank
Sean Stewart - TD Securities
Rupert Merer - National Bank
David Castagna - Raymond James
William Grippin - UBS
Operator
Hello and thank you for standing by. Welcome to the BEP Third Quarter 2022 Results Conference Call and Webcast. [Operator Instructions] It is now my pleasure to introduce CEO, Connor Teskey.
Connor Teskey
Thank you, operator. Good morning, everyone and thank you for joining us on our third quarter 2022 conference call.
Before we begin, we would like to remind you that a copy of our news release, investor supplement and letter to unitholders can be found on our website. We also want to remind you that we may make forward-looking statements on this call. These statements are subject to known and unknown risks and future results may differ materially. For more information, you are encouraged to review our regulatory filings available on SEDAR, EDGAR and on our website.
On today’s call, we will provide an update on the business and some of our recent growth initiatives. Esper Nemi, a Vice President in our investments team in North America, will discuss the growth of our renewables development business in the United States. I will then provide an overview of our recently announced acquisition of Westinghouse and Wyatt will finish off the call discussing our operating results and financial position. Following our remarks, we look forward to taking your questions.
We had a great quarter, demonstrating both through our strong financial results and the execution of several large-scale growth initiatives. We generated funds from operations of $243 million or $0.38 per unit, a 15% increase from the same period last year as well as we advanced our key commercial priorities and development activities.
We continue to believe that our business is uniquely positioned, providing investors with one of the most attractive value propositions in the sector. We feel this way for a number of reasons. First, our business is supported by a highly diversified global platform of clean energy assets, providing deep operating knowledge and visibility and the flexibility to deliver decarbonization solutions for our customers around the world. Second, our cash flows are contracted, long-term and inflation-linked, meaning we will remain resilient throughout all economic environments. Third, our robust liquidity, strong balance sheet and access to deep and varied sources of capital, provide us the ability to execute on some of the largest and most attractive decarbonization investment opportunities.