As part of its growth strategy, Brookfield Renewable Partners L.P. (BEP) is making good progress. The company’s first-quarter results were strong, and it was able to make profitable investments in green energy.

As of the end of the first quarter, Brookfield Renewable had earned $ 257 million (+33 %YoY) in basic operations, which came to $ 0.4 per share. The wind energy investments gained success through an increase in the share of TerraForm Power – this segment showed a 191% increase in FFO.

Solar power growth was 275 %, while electricity transmission and distribution saw an increase of 94 %. There was only a 23 % decline in FFO in the hydroelectric segment due to overproduction in the USA in 2020. When these conditions were present, solar and wind energy proved to be the most flexible forms of energy.

The total investment by Brookfield Renewable Partners L.P. (BEP) for the first quarter of 2021 was $ 410 million. Mainly, it acquired a stake in Polish company Polenergia’s European division, which includes wind farms with a capacity of 3 G.W. Brookfield purchased 450 MW of solar generating capacity in India.

Moreover, projects with a capacity of 6 G.W. are nearing the stage of obtaining permits or commencing construction; 29 agreements were signed to sell 2.3 GWh of green energy to corporate customers.

Through its business model and investments in in-demand destinations, Brookfield is successfully navigating the COVID-19 period.

In Monday’s aftermarket session, Brookfield Renewable Partners L.P. (BEP) shares rose 0.3% to $36.85. BEP stock decreased -0.84% to close at $36.74 last trading session. The stock recorded a trading volume of 0.41 million shares. Its shares have slipped by -4.25% in the last five days, but they have dropped by -15.58% in the past month. In the last three months, the share price fell by 24.09%. This year it has lost -14.86%.

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