v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating activities        
Net loss $ (785) $ (1,447) $ (3,087) $ (1,452)
Adjustments for the following non-cash items:        
Depreciation 301 319 595 626
Unrealized financial instruments (gain) loss (2) 7 83 9
Share of (earnings) losses from equity-accounted investments (2) (1) 4 1
Deferred income tax recovery (5) (13) (37) (42)
Other non-cash items 14 6 33 57
Remeasurement of interests held in BRHC by the partnership 407 652 1,509 529
Remeasurement of BEPC exchangeable and class A.2 shares 297 624 1,230 524
Dividends received from equity-accounted investments 0 1 3 1
Cash flows from (used in) operations before changes in related parties and working capital balances 225 148 333 253
Changes in due to or from related parties 12 43 48 30
Net change in working capital balances 9 (52) (78) (34)
Cash flows from (used in) operating activities 246 139 303 249
Financing activities        
Proceeds from non-recourse borrowings 1,501 700 2,138 1,363
Repayment of non-recourse borrowings (1,271) (683) (1,568) (1,335)
Capital contributions from non-controlling interests 306 56 611 157
Exchangeable share issuance 122 0 237 0
Distributions paid:        
To participating non-controlling interests (124) (303) (408) (452)
To the partnership 0 (5) 0 (5)
Related party borrowings, net (362) 56 (661) 197
Net cash flows from (used in) financing activities 172 (179) 349 (75)
Investing activities        
Investment in property, plant and equipment (277) (302) (472) (550)
Investment in equity-accounted investments (45) (21) (60) (41)
Proceeds from disposal of assets, net of cash and cash equivalents disposed 58 0 58 0
Proceeds from financial assets 0 314 0 314
Restricted cash and other (42) (27) (83) (11)
Cash flows from (used in) investing activities (306) (36) (557) (288)
Increase (decrease) 112 (76) 95 (114)
Foreign exchange gain on cash 3 19 11 46
Net change in cash classified within assets held for sale (10) (1) (32) 0
Balance, beginning of period 651 614 682 624
Balance, end of period 756 556 756 556
Supplemental cash flow information:        
Interest paid 378 487 710 731
Interest received 37 34 54 44
Income taxes paid $ 50 $ 28 $ 69 $ 43