Brookfield Renewable reported funds from operations (FFO) at $157m in the third quarter of 2020, up from $133m in the same period last year.
Revenue and adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) also rose in the period to $482m and $371m from $430m and $301m, respectively.
However, after deducting non-cash depreciation, the company’s net loss attributable to unitholders for the three months ended 30 September was $162m, wider than the $58m in 2019.
Brookfield said FFO was boosted by strong asset availability, organic growth and recent acquisitions.
Generation was up to 12,007 gigawatt-hours in the period from 11,089GWh in 2019.
Brookfield Renewable chief executive Connor Teskey (pictured) said: “We had a strong quarter, as we executed on a broad range of transactions that highlight the unique strengths and differentiated value of our business.
“Our strategy going forward is unchanged. We remain focused on growing our business, while continuing to deliver on our target of 12-15% long-term returns to equity holders, by leveraging our scale and operational expertise to help governments and businesses around the world transition to a greener future.”
In the nine months to the end of September, FFO was $606m, up from $590m in 2019.
Revenue fell slightly to $1493m from $1536m, while adjusted EBITDA was up to $1158m from $1096m.