Brookfield Renewable Partners reported net income of $27m in the first three months of 2017, down from $79m in the same period last year.
Earnings stood at $453m in the quarter, just below last year’s $455m, while the funds from operations figure was $166m down from $187m in 2016.
The company said the higher figure in 2016 was the result of “hedging gains” from its foreign currency hedging programme.
In the first quarter of 2017, “performance was driven by generation which was in line with averages for our fleet,” the company said.
“Strong inflows in North America were complemented by improved conditions in Colombia and Brazil. Our wind portfolios in Canada, Europe and Brazil all delivered strong output in the quarter,” it said.
Brookfield said construction is ongoing at three wind farms in Ireland and Scotland totalling 66MW, while work is also progressing on a 47MW hydro project in Brazil.
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