Brookfield Renewable Partners L.P. (NYSE:BEP) Q3 2023 Earnings Conference Call November 3, 2023 8:30 AM ET

Company Participants

Connor Teskey - Chief Executive Officer

Jenny Li - Vice President

Wyatt Hartley - Chief Financial Officer

Conference Call Participants

Sean Steuart - TD Securities

Robert Hope - Scotiabank

David Quezada - Raymond James

Rupert Merer - National Bank

Operator

Good day and thank you for standing by. Welcome to the Brookfield Renewable Partners Third Quarter 2023 Results Conference Call and Webcast. At this time, all participants are in listen-only mode. After the speaker's 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, Chief Executive Officer. Please go ahead.

Connor Teskey

Thank you, operator. Good morning, everyone, and thank you for joining us for our third 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 unit holders 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 how we are positioned in the current market environment. Jenny Li, our Vice President in our investment teams in Toronto, will provide an update on our growth activities. And then lastly, Wyatt will conclude the call by discussing our operating results and financial position. Following our remarks we look forward to taking your questions.

We had another successful quarter utilizing our disciplined approach to growth and execution to outperform our targets and deliver strong operating results. Furthermore, as Jenny will highlight, we recently closed our acquisition of X-Elio and Deriva Energy, formerly Duke Energy Renewables, as well as advanced our acquisitions of Westinghouse Electric, which we expect to close shortly, and Origin Energy.

With the closing of these acquisitions, we are adding significant incremental FFO and are positioning ourselves to continue to deliver on our decade-long track record of 10% plus FFO per unit annual growth. That said, we want to also touch briefly on the market environment and our share price. The renewable sector traded down in the public markets on the back of higher interest rates and a perceived tightening of industry margins. And even though we are well positioned to benefit in this environment and insulated from the challenges that are seemingly impacting others in the sector, we have not been immune to the lower trading environment.