Brookfield Renewable Corporation (NYSE:BEPC) Q2 2022 Earnings Conference Call August 5, 2022 8:30 AM ET
Company Participants
Connor Teskey - CEO
Ruth Kent - COO
Wyatt Hartley - CFO
Conference Call Participants
Sean Stewart - TD Securities
Mark Jarvi - CIBC Capital Markets
Rupert Merer - National Bank Financial
Ben Pham - BMO
David Quezada - Raymond James
William Grippin - UBS
Andrew Kuske - Credit Suisse
Naji Baydoun - iA Capital
Operator
Thank you for standing by, and welcome to the Brookfield Renewable's Second Quarter 2022 Results Conference Call. [Operator Instructions] As a reminder, today's program may be recorded.
And now I'd like to introduce your host for today's program, Connor Teskey, CEO. Please go ahead, sir.
Connor Teskey
Thank you, operator. Good morning everyone, and thank you for joining us for our second 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 our future results may differ materially. For more information, you are encouraged to review our regulatory filings available on SEDAR, EDGAR and our website.
To kick off today's call, we will provide an update on the business and some of our recent growth initiatives. After my remarks, Ruth Kent, our Chief Operating Officer will give an update on our development activities, and then Wyatt will provide an overview of our operating results and balance sheet and liquidity. Following our remarks, we look forward to taking your questions.
The business performed well this quarter, generating funds from operations of $294 million or $0.46 per unit, a 10% increase over the same period last year. We continue to advance our key operating priorities, as well as execute on transactions from our strong pipeline of growth opportunities.
The trends driving the energy transition continue to accelerate, driven by the focus on net zero ambitions, low cost energy and energy security. Given the nature of power as an essential service, our business remains well positioned to operate and grow irrespective of the economic situation.
We feel the current environment will continue to favor investors like ourselves who are well capitalized and globally diversified with significant development capabilities to build out renewables in scale. As always, we remain focused on growing our leading renewable power platform, expanding the spectrum of decarbonization solutions we can provide to our customers, and building global businesses that are critical to the transition to net zero.