Brookfield Renewable Partners L.P. - Revision history

>Nithi.s at 20:17, 27 July 2023

2023-07-27T20:17:49Z

← Older revision		Revision as of 21:17, 27 July 2023
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	Hydroelectric power capacity is the highest, followed by Wind and DE&SS, with Solar making up the smallest proportion of energy production.		Hydroelectric power capacity is the highest, followed by Wind and DE&SS, with Solar making up the smallest proportion of energy production.

	~~[[File:Allocation split by technology.png\|left\|thumb\|287x287px\|Brookfield total portfolio allocation split by technology]]~~
	~~[[File:Allocation by region.png\|left\|thumb\|Brookfield total portfolio allocation split by region]]~~
















			[[File:Brookfield region allocation.png\|center\|thumb\|446x446px]]
			Brookfield Renewable partners are based in Toronto and traded on the NYSE and have a long history operating in North America, hence it is no surprise 62% of their portfolio is based in North America.
			[[File:Brookfield tech allocation.png\|center\|thumb\|399x399px]]
			Brookfield Renewable partners' portfolio consists of 53% Hydroelectric Power, 20% Wind and 15% Solar power. The other 12% associated with Distributed energy and sustainable solutions are energy sources such as EV charging, Nuclear, and hydrogen fuel cells.

	== '''<u>Projects</u>''' <ref name=":1" /> ==		== '''<u>Projects</u>''' <ref name=":1" /> ==

>Vikram at 11:12, 27 July 2023

2023-07-27T11:12:57Z

← Older revision		Revision as of 12:12, 27 July 2023
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	Total Solar revenue for 2022 - $374 million, and $348 million for 2021. Total DE&SS revenue for 2022 - $290 million, and $242 million for 2021. A breakdown by location is not possible. Hydroelectric revenue increased by 13% compared to 2021, wind declined by 3.2%, but solar and DE&SS increased by 7.5% and 19.8% respectively.		Total Solar revenue for 2022 - $374 million, and $348 million for 2021. Total DE&SS revenue for 2022 - $290 million, and $242 million for 2021. A breakdown by location is not possible. Hydroelectric revenue increased by 13% compared to 2021, wind declined by 3.2%, but solar and DE&SS increased by 7.5% and 19.8% respectively.

	[[File:Revenue by segment.png]]		[[File:Revenue by segment .png]]

	=== Forecasts ===		=== Forecasts ===
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	\|-		\|-
	\| '''FCF'''		\| '''FCF'''
	\| ''' 1,994.97'''		\| '''1,994.97'''
	\| ''' 1,796.75'''		\| '''1,796.75'''
	\| ''' 2,004.69'''		\| '''2,004.69'''
	\| ''' 1,946.44'''		\| '''1,946.44'''
	\| ''' 2,156.77'''		\| '''2,156.77'''
	\| ''' 2,100.91'''		\| '''2,100.91'''
	\| ''' 2,313.63'''		\| '''2,313.63'''
	\| ''' 2,260.17'''		\| '''2,260.17'''
	\| ''' 2,475.28'''		\| '''2,475.28'''
	\| ''' 2,424.21'''		\| '''2,424.21'''
	\|-		\|-
	\|'''Discount Factor'''		\|'''Discount Factor'''
Line 819:		Line 819:
	\|-		\|-
	\|'''Present Value of FCF'''		\|'''Present Value of FCF'''
	\| ''' 1,926.16'''		\| '''1,926.16'''
	\| ''' 1,608.35'''		\| '''1,608.35'''
	\| ''' 1,663.72'''		\| '''1,663.72'''
	\| ''' 1,497.65'''		\| '''1,497.65'''
	\| ''' 1,538.56'''		\| '''1,538.56'''
	\| ''' 1,389.49'''		\| '''1,389.49'''
	\| ''' 1,418.67'''		\| '''1,418.67'''
	\| ''' 1,284.89'''		\| '''1,284.89'''
	\| ''' 1,304.63'''		\| '''1,304.63'''
	\| ''' 1,184.60'''		\| '''1,184.60'''
	\|}		\|}
	{\| class="wikitable"		{\| class="wikitable"
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	\|-		\|-
	!'''2.5%'''		!'''2.5%'''
	\|$ 113.07		\|$ 113.07
	\|$ 88.75		\|$ 88.75
	\|$ 69.83		\|$ 69.83
	\|$ 54.70		\|$ 54.70
	\|$ 42.32		\|$ 42.32
	\|$ 32.00		\|$ 32.00
	\|$ 23.27		\|$ 23.27
	\|$ 15.79		\|$ 15.79
	\|-		\|-
	!'''3.0%'''		!'''3.0%'''
	\|$ 137.48		\|$ 137.48
	\|$ 106.34		\|$ 106.34
	\|$ 82.98		\|$ 82.98
	\|$ 64.81		\|$ 64.81
	\|$ 50.27		\|$ 50.27
	\|$ 38.38		\|$ 38.38
	\|$ 28.46		\|$ 28.46
	\|$ 20.07		\|$ 20.07
	\|-		\|-
	!'''3.5%'''		!'''3.5%'''
	\|$ 171.66		\|$ 171.66
	\|$ 129.80		\|$ 129.80
	\|$ 99.89		\|$ 99.89
	\|$ 77.45		\|$ 77.45
	\|$ 60.00		\|$ 60.00
	\|$ 46.03		\|$ 46.03
	\|$ 34.59		\|$ 34.59
	\|$ 25.06		\|$ 25.06
	\|-		\|-
	!'''4.0%'''		!'''4.0%'''
	\|$ 222.92		\|$ 222.92
	\|$ 162.64		\|$ 162.64
	\|$ 122.44		\|$ 122.44
	\|$ 93.71		\|$ 93.71
	\|$ 72.15		\|$ 72.15
	\|$ 55.38		\|$ 55.38
	\|$ 41.95		\|$ 41.95
	\|$ 30.96		\|$ 30.96
	\|-		\|-
	!'''4.5%'''		!'''4.5%'''
	\|$ 308.36		\|$ 308.36
	\|$ 211.90		\|$ 211.90
	\|$ 154.00		\|$ 154.00
	\|$ 115.38		\|$ 115.38
	\|$ 87.78		\|$ 87.78
	\|$ 67.07		\|$ 67.07
	\|$ 50.95		\|$ 50.95
	\|$ 38.04		\|$ 38.04
	\|-		\|-
	!'''5.0%'''		!'''5.0%'''
	\|$ 479.25		\|$ 479.25
	\|$ 294.01		\|$ 294.01
	\|$ 201.35		\|$ 201.35
	\|$ 145.73		\|$ 145.73
	\|$ 108.62		\|$ 108.62
	\|$ 82.10		\|$ 82.10
	\|$ 62.19		\|$ 62.19
	\|$ 46.69		\|$ 46.69
	\|}		\|}

>Vikram at 08:33, 27 July 2023

2023-07-27T08:33:12Z

← Older revision		Revision as of 09:33, 27 July 2023
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	On the board since 2015. Mazin is responsible for transaction execution and public company matters, including corporate governance and public disclosure. Prior to joining Brookfield in 2014, Mazin was Assistant General Counsel at a large global mining company and worked at a New York-based law firm, where she focused on cross-border corporate finance transactions, mergers and acquisitions as well as governance and disclosure requirements.		On the board since 2015. Mazin is responsible for transaction execution and public company matters, including corporate governance and public disclosure. Prior to joining Brookfield in 2014, Mazin was Assistant General Counsel at a large global mining company and worked at a New York-based law firm, where she focused on cross-border corporate finance transactions, mergers and acquisitions as well as governance and disclosure requirements.

	=== ~~'''~~<big>Chair, Brookfield Asset Management; Head of Transition Investing - Mark Carney</big>~~'''~~ ===		=== <big>Chair, Brookfield Asset Management; Head of Transition Investing - Mark Carney</big> ===
	Mark Carney is the Chair of Brookfield Asset Management. He is also the Head of Transition Investing and in this role, he is focused on the development of products for investors that will combine positive social and environmental outcomes with strong risk-adjusted returns.		Mark Carney is the Chair of Brookfield Asset Management. He is also the Head of Transition Investing and in this role, he is focused on the development of products for investors that will combine positive social and environmental outcomes with strong risk-adjusted returns.
	[[File:Mark Carney.png\|thumb\|136x136px\|Mark Carney]]		[[File:Mark Carney.png\|thumb\|136x136px\|Mark Carney]]

>Vikram at 08:32, 27 July 2023

2023-07-27T08:32:18Z

← Older revision		Revision as of 09:32, 27 July 2023
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	Brookfield Renewable's business model is to acquire and develop high quality renewable power below intrinsic value, finance on a long term low risk basis and optimise cash flows by applying their operating expertise and knowledge to enhance value.		Brookfield Renewable's business model is to acquire and develop high quality renewable power below intrinsic value, finance on a long term low risk basis and optimise cash flows by applying their operating expertise and knowledge to enhance value.

			== '''<u>Corporate Strategy</u>''' ==
			Renewable energy investment - The company is committed to growing it's portfolio of renewable energy assets through a combination of organic growth and acquisitions.

			Growing decarbonization solutions - The company is investing in a number of decarbonization solutions, including carbon capture and storage, renewable fuels and energy efficiency.

			Transforming carbon intensive businesses - The company is working with a number of businesses that are mass producers of emissions to help them transition to a low-carbon future, including providing technical expertise, financial support and access to it's global network of partners.

			Brookfield Renewable Partners corporate strategy is based on the belief that the world needs to move towards a clean energy future, the company is well-positioned to capitalize on this trend and is committed to playing a leading role in the transition to a sustainable energy future.

	== '''<u>Products</u>''' ==		== '''<u>Products</u>''' ==

>Vikram: /* Forecasts */

2023-07-26T17:48:48Z

Forecasts

← Older revision		Revision as of 18:48, 26 July 2023
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	! rowspan="7" \|'''Growth Rate'''		! rowspan="7" \|'''Growth Rate'''
	!'''2.0%'''		!'''2.0%'''
	\|$ 94.76		\|$ 94.76
	\|$ 75.06		\|$ 75.06
	\|$ 59.31		\|$ 59.31
	\|$ 46.42		\|$ 46.42
	\|$ 35.68		\|$ 35.68
	\|$ 26.60		\|$ 26.60
	\|$ 18.82		\|$ 18.82
	\|$ 12.08		\|$ 12.08
	\|-		\|-
	!'''2.5%'''		!'''2.5%'''

>Vraj Agarwal: /* DCF and WACC */

2023-07-26T17:44:34Z

DCF and WACC

← Older revision		Revision as of 18:44, 26 July 2023
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	[[File:EPS.png\|thumb\|841x841px\|center]]		[[File:EPS.png\|thumb\|841x841px\|center]]










	The relative valuation shows that Brookfield Renewable Partners pays out the second highest dividend amongst it's competitors, behind only General Electric. Brookfield Renewable is also top 3 for dividend growth, with General Electric having seen massive declines in dividend pay-out, meaning that Brookfield Renewable is a stock with good income prospects.		The relative valuation shows that Brookfield Renewable Partners pays out the second highest dividend amongst it's competitors, behind only General Electric. Brookfield Renewable is also top 3 for dividend growth, with General Electric having seen massive declines in dividend pay-out, meaning that Brookfield Renewable is a stock with good income prospects.

	== '''<u>Risks</u>'''<ref name=":1" /> ==		== '''<u>Risks</u>'''<ref name=":1" /> ==

>Nithi.s at 16:57, 26 July 2023

2023-07-26T16:57:56Z

← Older revision		Revision as of 17:57, 26 July 2023
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	The total serviceable market is the global renewable energy market which is worth $988.6 billion. It is expected to grow with a total CAGR of 8.6% and is expected to be worth $1912 billion by 2030.		The total serviceable market is the global renewable energy market which is worth $988.6 billion. It is expected to grow with a total CAGR of 8.6% and is expected to be worth $1912 billion by 2030.

	The fastest growing and largest market for renewable energy is the Asia Pacific Region. <ref>[https://www.vantagemarketresearch.com/industry-report/renewable-energy-market-1886#:~:text=Global%20Renewable%20Energy%20Market%20is,meet%20their%20climate%20change%20commitments. https://www.vantagemarketresearch.com/industry-report/renewable-energy-market-1886#:~:text=Global%20Renewable%20Energy%20Market%20is,meet%20their%20climate%20change%20commitments.]</ref>		The fastest growing and largest market for renewable energy is the Asia Pacific Region with a CAGR of 9.7%. <ref>[https://www.vantagemarketresearch.com/industry-report/renewable-energy-market-1886#:~:text=Global%20Renewable%20Energy%20Market%20is,meet%20their%20climate%20change%20commitments. https://www.vantagemarketresearch.com/industry-report/renewable-energy-market-1886#:~:text=Global%20Renewable%20Energy%20Market%20is,meet%20their%20climate%20change%20commitments.]</ref>
			[[File:Renewable energy market by tech.png\|center\|thumb\|732x732px\|Global Renewable Energy Market by Technology[[File:Global Renewable energy market by region.png\|center\|thumb\|610x610px\|Global Renewable Energy Market by Region]]]]

	== '''<u>Competitors</u>''' ==		== '''<u>Competitors</u>''' ==

Manos: /* Relative Valuation */

2023-07-25T19:27:16Z

Relative Valuation

← Older revision		Revision as of 20:27, 25 July 2023
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	{\| class="wikitable"		{\| class="wikitable"
	\|+Relative Valuation Table<ref>All financial data was taken from the financial times stock price pages.</ref>		\|+Relative Valuation Table<ref>All financial data was taken from the financial times stock price pages.</ref>
	\|'''Stock'''		!'''Stock'''
	\|'''Price to Earnings Ratio'''		!'''Price to Earnings Ratio'''
	\|'''Return on Equity'''		!'''Return on Equity'''
	\|'''Earnings Per Share'''		!'''Earnings Per Share'''
	\|'''Dividend Yield'''		!'''Dividend Yield'''
	\|'''Annual Dividend'''		!'''Annual Dividend'''
	\|'''Return on Assets'''		!'''Return on Assets'''
	\|'''Dividend Growth'''		!'''Dividend Growth'''
	\|-		\|-
	\|'''BRP'''		\|'''BRP'''

>Nithi.s at 19:21, 25 July 2023

2023-07-25T19:21:51Z

@@ Line 219: / Line 219: @@
 [[File:Mark Carney.png|thumb|136x136px|Mark Carney]]
 Mr. Carney is an economist and banker who served as the Governor of the Bank of England from 2013 to 2020, and prior to that as Governor of the Bank of Canada from 2008 until 2013. He was Chairman of the Financial Stability Board from 2011 to 2018. Prior to his governorships, Mr. Carney worked at Goldman Sachs as well as the Canadian Department of Finance. He is a long-time and well-known advocate for sustainability, specifically with regard to the management and reduction of climate risks, and is currently the United Nations Special Envoy for Climate Action and Finance and Co-Chair for the Glasgow Finance Alliance for Net Zero. Mr. Carney holds doctorate and master’s degrees from Oxford University and a bachelor’s degree in Economics from Harvard University.
 == '''<u>Ownership</u>''' <ref>https://simplywall.st/stocks/ca/utilities/tsx-bep.un/brookfield-renewable-partners-shares/ownership</ref> ==
@@ Line 256: / Line 277: @@
 |}
 The top 10 stakeholders in Brookfield Renewable Partners make up 72.2% of the entire ownership. Other notable investors include Scotiabank (0.48%) and Morgan Stanley (0.39%).
 === '''<u>Financials</u>''' ===

>Nithi.s at 19:07, 25 July 2023

2023-07-25T19:07:35Z

← Older revision		Revision as of 20:07, 25 July 2023
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	NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company headquartered in Juno Beach, Florida with over $60 billion in assets under management. NextEra Energy owns a competitive clean energy business, NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world’s largest generator of renewable energy from the wind and sun and a world leader in battery storage. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from seven commercial nuclear power units in Florida, New Hampshire and Wisconsin. NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity. NextEra Energy is ranked No. 1 in the electric and gas utilities industry on Fortune’s 2022 list of “World’s Most Admired Companies,” recognized on Fortune’s 2021 list of companies that “Change the World” and received the S&P Global Platts 2020 Energy Transition Award for leadership in environmental, social and governance.<ref>https://www.nexteraenergy.com/</ref>		NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company headquartered in Juno Beach, Florida with over $60 billion in assets under management. NextEra Energy owns a competitive clean energy business, NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world’s largest generator of renewable energy from the wind and sun and a world leader in battery storage. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from seven commercial nuclear power units in Florida, New Hampshire and Wisconsin. NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity. NextEra Energy is ranked No. 1 in the electric and gas utilities industry on Fortune’s 2022 list of “World’s Most Admired Companies,” recognized on Fortune’s 2021 list of companies that “Change the World” and received the S&P Global Platts 2020 Energy Transition Award for leadership in environmental, social and governance.<ref>https://www.nexteraenergy.com/</ref>

	~~=== General Electric ===~~		Market Cap: $152.4 billion

	== '''<u>Financials</u>''' ==		=== Enel Green Power ===
			Enel Green Power was founded in December 2008 inside the Enel Group to develop and manage power generated from renewable resources worldwide.

			Enel Green Power manage more than 1,200 power plants on five continents. They’re present with assets in operation or under construction in 21 countries and manage development activities in a further 5 countries. Enel Green Power have over 59 GW of installed renewable capacity from a mix of renewable resources, including wind, solar, hydroelectric and geothermal. Enel Green Power are playing a key role in the energy transition as one of the world’s leading renewable energy companies. Their goal is to accompany the planet into a new era of sustainable, decarbonized energy for all.<ref>https://www.enelgreenpower.com/who-we-are/our-company</ref>

			Market cap: $62.95 billion

			=== '''<u>Financials</u>''' ===
	The table below shows the reported revenue of the previous 5 years for Brookfield Renewable Partners, other financial information required in the calculation of EBIT is also shown. All units are given in USD millions.		The table below shows the reported revenue of the previous 5 years for Brookfield Renewable Partners, other financial information required in the calculation of EBIT is also shown. All units are given in USD millions.
	{\| class="wikitable"		{\| class="wikitable"