Brookfield Renewable Corporation (NYSE:BEPC) Q2 2023 Earnings Conference Call August 4, 2023 8:30 AM ET
Company Participants
Connor Teskey - President, Brookfield Asset Management; CEO Renewable Power & Transition
Jehangir Vevaina - Managing Partner, Renewable Power & Transition
Wyatt Hartley - Managing Partner, Renewable Power & Transition
Conference Call Participants
Sean Steuart - TD Securities
Rupert Merer - National Bank Financial
Robert Hope - Scotiabank
David Quezada - Raymond James
Andrew Kuske - Credit Suisse
Naji Baydoun - iA Capital Markets
Operator
Good day, and thank you for standing by. Welcome to the BEP Second Quarter 2023 Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.
I would now like to hand the conference over to your speaker today, Connor Teskey, CEO. Please go ahead.
Connor Teskey
Thank you, operator. Good morning, everyone, and thank you for joining us for our second quarter 2023 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 our 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 our development activities. Then, Jay Vevaina, a Managing Partner and our Chief Investment Officer, will highlight the recently announced acquisition of Duke Energy Renewables; and lastly, Wyatt will conclude the call by discussing our operating results and financial position. Following our prepared remarks, we look forward to taking your questions.
Our business performed well this quarter, building on the strong start to the year as we achieved 10% annual FFO per unit growth year-to-date. We were also successful in our development activities and growth initiatives, including our repowering activities, where we have seen a strong uplift in the performance at recently repowered assets and are evaluating a growing pipeline of attractive opportunities within our portfolio.
We continue to see the benefits of our geographically and technologically diverse operating platform. As we have said previously, we have purposely built our business by acquiring and developing a variety of clean energy assets in attractive power markets across the globe where we are able to sign long-term PPAs with high-quality off-takers. In periods of volatile resource, like this past quarter, the benefits of this strategy are especially pronounced as our scale and diversity enables us to consistently deliver on our targets.