v3.26.1
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS [Abstract]  
Schedule of Assets and Liabilities Measured and Disclosed at Fair Value Classified by the Fair Value Hierarchy
The following table presents the company's assets and liabilities including energy derivative contracts, power purchase agreements accounted for under IFRS 9 (“IFRS 9 PPAs”), interest rate swaps, foreign exchange swaps and tax equity measured and disclosed at fair value classified by the fair value hierarchy:
June 30, 2026December 31, 2025
(MILLIONS)Level 1Level 2Level 3
Total(1)
Total(1)
Assets measured at fair value:
Cash and cash equivalents$756 $— $— $756 $682 
Restricted cash(2)
114 — — 114 81 
Financial instrument assets(2)
IFRS 9 PPAs— — 45 45 78 
Energy derivative contracts— 68 — 68 104 
Interest rate swaps— 69 — 69 85 
Foreign exchange swaps— 15 — 15 5 
Property, plant and equipment— — 38,771 38,771 39,699 
Liabilities measured at fair value:
Financial instrument liabilities(2)
IFRS 9 PPAs— (20)(443)(463)(253)
Energy derivative contracts— (104)— (104)(154)
Interest rate swaps— (7)— (7)(59)
Foreign exchange swaps— (515)— (515)(201)
Tax equity— — (258)(258)(212)
Liabilities for which fair value is disclosed:
Interests held in BRHC by the partnership(3)
(6,754)— — (6,754)(5,245)
BEPC exchangeable and class A.2 exchangeable shares(3)
(6,483)— — (6,483)(5,016)
Non-recourse borrowings(2)
(1,669)(14,003)— (15,672)(15,362)
Total$(14,036)$(14,497)$38,115 $9,582 $14,232 
(1)Excludes $350 million (2025: $320 million) of investments in debt securities measured at amortized cost.
(2)Includes both the current amount and long-term amounts.
(3)BEPC class B shares are also classified as financial liabilities due to their cash redemption feature. As discussed in Note 10 – BEPC Exchangeable Shares, BRHC Exchangeable Shares, Class A.2 Exchangeable Shares, BRHC Class B Shares and BRHC Class C Shares, the BEPC class B shares meet certain qualifying criteria and are presented as equity.
Schedule of Offsetting of Financial Assets and Financial Liabilities
The aggregate amount of our company's net financial instrument positions are as follows:
June 30, 2026December 31, 2025
(MILLIONS)AssetsLiabilitiesNet Assets
(Liabilities)		Net Assets
(Liabilities)
IFRS 9 PPAs$45 $463 $(418)$(175)
Energy derivative contracts68 104 (36)(50)
Interest rate swaps69 7 62 26 
Foreign exchange swaps15 515 (500)(196)
Investments in debt securities350 — 350 320 
Tax equity— 258 (258)(212)
Total547 1,347 (800)(287)
Less: current portion110 609 (499)(248)
Long-term portion$437 $738 $(301)$(39)
Schedule of Unrealized Gains (Losses) Included in Foreign Exchange and Unrealized Financial Instrument Loss
The following table reflects the gains (losses) included in foreign exchange and financial instruments gain (loss) in the interim consolidated statements of income for the three and six months ended June 30:
Three months ended June 30Six months ended June 30
(MILLIONS)2026202520262025
IFRS 9 PPAs$(38)$(19)$(79)$(21)
Energy derivative contracts10 16 — 18 
Interest rate swaps11 (4)11 (2)
Foreign exchange swaps(15)(7)(27)(24)
Tax equity3 29 2 21 
Foreign exchange gain (loss)16 (41)10 (39)
$(13)$(26)$(83)$(47)
Schedule Of Unrealized Gains (Losses) Included In Other Comprehensive Income
The following table reflects the gains (losses) included in other comprehensive income (loss) in the interim consolidated statements of comprehensive income (loss) for the three and six months ended June 30:
Three months ended June 30Six months ended June 30
(MILLIONS)2026202520262025
IFRS 9 PPAs$76 $11 $(120)$43 
Energy derivative contracts(6)16 (28)(5)
Interest rate swaps(13)(19)— (26)
Foreign exchange swaps(1)(1)— (1)
56 7 (148)11 
Foreign exchange swaps - net investment(184)(127)(273)(291)
$(128)$(120)$(421)$(280)
Schedule Of Reclassification Adjustments Recognized In Net Income
The following table reflects the reclassification adjustments recognized in net income in the interim consolidated statements of comprehensive income (loss) for the three and six months ended June 30:
Three months ended June 30Six months ended June 30
(MILLIONS)2026202520262025
Energy derivative contracts$(2)$(12)$20 $5 
IFRS 9 PPAs2 (3)2 (11)
Interest rate swaps(14)(4)(17)(13)
$(14)$(19)$5 $(19)