Strong Financial Performance
Adjusted FFO per unit increased by 15% year over year, and on an all-in basis, FFO per unit increased by 7% year over year. The business delivered funds from operations of $315 million or 48¢ per unit.
Significant Contracting and Development Progress
Secured contracts to deliver an incremental 4,500 gigawatt hours per year of generation. Progressed the delivery of projects to Microsoft under a renewable energy framework agreement.
Successful Acquisitions and Investments
Committed or deployed $4.6 billion in the quarter, highlighted by the completion of the privatization of Naoen and acquisition of National Grid Renewables.
Robust Pipeline and Commissioning Capacity
Commissioned approximately 800 megawatts of renewable energy capacity in the quarter and expect to bring approximately eight gigawatts online in 2025.
Strong Liquidity Position
Ended the quarter with $4.5 billion of available liquidity, providing significant flexibility to pursue growth.
Positive Impact from Capital Recycling
Closed the sale of the stake in First Hydro, generating almost three times the invested capital and 20% investment returns.