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
The following table presents Brookfield Renewable's assets and liabilities including energy derivative contracts, power purchase agreements accounted for under IFRS 9, 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 3TotalTotal
Assets measured at fair value:
Cash and cash equivalents$1,971 $— $— $1,971 $2,093 
Restricted cash(1)
410 — — 410 368 
Financial instrument assets(1)
IFRS 9 PPAs— — 364 364 452 
Energy derivative contracts— 76 — 76 111 
Interest rate swaps— 225 — 225 267 
Foreign exchange swaps— 95 — 95 37 
Tax equity — — 277 277 120 
Investments in debt and equity securities(2)
— 46 4,165 4,211 3,424 
Property, plant and equipment— — 69,616 69,616 70,456 
Liabilities measured at fair value:
Financial instrument liabilities(1)
IFRS 9 PPAs— (20)(1,009)(1,029)(788)
Energy derivative contracts— (104)— (104)(154)
Interest rate swaps— (75)— (75)(131)
Foreign exchange swaps— (722)— (722)(427)
Tax equity— — (1,054)(1,054)(968)
Contingent consideration(1)(3)
— — (83)(83)(96)
Liabilities for which fair value is disclosed:
Corporate borrowings(1)
(3,719)(1,154)— (4,873)(3,686)
Non-recourse borrowings(1)
(1,669)(30,880)— (32,549)(31,540)
Total$(3,007)$(32,513)$72,276 $36,756 $39,538 
(1)Includes both the current amount and long-term amounts.
(2)Excludes $375 million (2025: $341 million) of investments in debt securities measured at amortized cost.
(3)Amount relates to business combinations and asset acquisitions completed between 2022 and 2025 with obligations lapsing from 2026 to 2027.
Schedule of Disclosure of Offsetting of Financial Assets and Financial Liabilities
The aggregate amount of Brookfield Renewable's net financial instrument positions are as follows:
June 30, 2026December 31, 2025
(MILLIONS)AssetsLiabilitiesNet Assets
(Liabilities)		Net Assets
(Liabilities)
IFRS 9 PPAs$364 $1,029 $(665)$(336)
Energy derivative contracts76 104 (28)(43)
Interest rate swaps225 75 150 136 
Foreign exchange swaps95 722 (627)(390)
Investments in debt and equity securities4,586 — 4,586 3,765 
Tax equity277 1,054 (777)(848)
Total5,623 2,984 2,639 2,284 
Less: current portion529 906 (377)(313)
Long-term portion$5,094 $2,078 $3,016 $2,597 
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 consolidated statements of 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$11 $18 $5 $23 
IFRS 9 PPAs(27)(25)(158)26 
Investment in debt and equity securities27 30 125 64 
Interest rate swaps(22)(5)12 (18)
Foreign exchange swaps(47)(135)(62)(225)
Tax equity94 111 399 214 
Foreign exchange (loss) gain(32)261 (97)420 
$4 $255 $224 $504 
Schedule of Unrealized Gains (Losses) Included in Other Comprehensive Income
The following table reflects the gains (losses) included in other comprehensive income in the consolidated statements of comprehensive income (loss) for the three and six months ended June 30:
Three months ended June 30Six months ended June 30
(MILLIONS)2026202520262025
Energy derivative contracts$(2)$(2)$(28)$(8)
IFRS 9 PPAs155 18 (165)134 
Interest rate swaps(7)(88)21 (106)
Foreign exchange swaps(2)3 (2)3 
144 (69)(174)23 
Foreign exchange swaps – net investment(196)(263)(257)(470)
Investments in debt and equity securities577 — 583 1 
$525 $(332)$152 $(446)
Schedule of Reclassification Adjustments Recognized in Net Income
The following table reflects the reclassification adjustments recognized in net income (loss) in the consolidated statements of comprehensive income (loss) for the three and six months ended June 30:
Three months ended June 30Six months ended June 30
(MILLIONS)2026202520262025
Energy derivative contracts$(6)$(9)$20 $7 
IFRS 9 PPAs24 9 24 7 
Interest rate swaps(14)(5)(16)(14)
Foreign exchange swaps— 2 — 2 
$4 $(3)$28 $2