| Schedule of Corporate Borrowings |
The composition of corporate borrowings is presented in the following table: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Weighted-average | | | | | | Weighted-average | | | | | | (MILLIONS EXCEPT AS NOTED) | Interest
rate (%) | | Term
(years) | | Carrying
value | | Estimated fair value | | Interest
rate (%) | | Term
(years) | | Carrying
value | | Estimated fair value | | Credit facilities | 4.9 | | | 5 | | $ | 54 | | | $ | 54 | | | N/A | | 5 | | $ | — | | | $ | — | | | Commercial paper | 4.2 | | | <1 | | 1,100 | | | 1,100 | | | 4.3 | | | <1 | | 194 | | | 194 | | | Medium Term Notes: | | | | | | | | | | | | | | | | Series 4 (C$150) | 5.8 | | | 10 | | 106 | | | 116 | | | 5.8 | | | 11 | | 109 | | | 120 | | | | | | | | | | | | | | | | | | Series 10 (C$500) | 3.6 | | | <1 | | 352 | | | 353 | | | 3.6 | | | 1 | | 364 | | | 366 | | Series 11 (C$475) | 4.3 | | | 3 | | 335 | | | 340 | | | 4.3 | | | 3 | | 346 | | | 354 | | Series 12 (C$475) | 3.4 | | | 4 | | 335 | | | 332 | | | 3.4 | | | 4 | | 346 | | | 344 | | Series 13 (C$300) | 4.3 | | | 23 | | 211 | | | 184 | | | 4.3 | | | 24 | | 219 | | | 193 | | Series 14 (C$425) | 3.3 | | | 24 | | 299 | | | 221 | | | 3.3 | | | 25 | | 310 | | | 229 | | Series 15 (C$400)(1) | 5.9 | | | 6 | | 282 | | | 309 | | | 5.9 | | | 7 | | 291 | | | 320 | | Series 16 (C$400) | 5.3 | | | 7 | | 282 | | | 301 | | | 5.3 | | | 8 | | 291 | | | 310 | | Series 17 (C$500) | 5.3 | | | 28 | | 352 | | | 355 | | | 5.3 | | | 28 | | 364 | | | 370 | | Series 18 (C$300) | 5.0 | | | 8 | | 211 | | | 220 | | | 5.0 | | | 9 | | 219 | | | 227 | | Series 19 (C$450) | 4.5 | | | 9 | | 317 | | | 319 | | | 4.5 | | | 10 | | | 328 | | | 328 | | Series 20 (C$500) | 5.2 | | | 30 | | 352 | | | 349 | | | — | | | — | | | — | | | — | | | 4.6 | | | 13 | | 3,434 | | | 3,399 | | | 4.5 | | 12 | | 3,187 | | | 3,161 | | | Hybrid Notes: | | | | | | | | | | | | | | | | Fixed to fixed subordinated (C$200) | 5.5 | | | 29 | | 141 | | | 142 | | | 5.5 | | 29 | | 146 | | | 147 | | Fixed to fixed subordinated (C$250) | 5.4 | | | 29 | | 176 | | | 178 | | | 5.4 | | | 30 | | 182 | | | 184 | | | 5.4 | | | 29 | | 317 | | | 320 | | | 5.4 | | | 30 | | 328 | | | 331 | | | Total corporate borrowings | | 4,905 | | | $ | 4,873 | | | | | | | 3,709 | | | $ | 3,686 | | Add: Unamortized premiums(2) | | 1 | | | | | | | | | 1 | | | | Less: Unamortized financing fees(2) | | (24) | | | | | | | | | (24) | | | | | Less: Current portion | | (1,452) | | | | | | | | | (194) | | | | | | | | | $ | 3,430 | | | | | | | | | $ | 3,492 | | | |
(1)Includes $7 million (2025: $7 million) outstanding to an associate of Brookfield. Refer to Note 20 - Related party transactions for more details. (2)Unamortized premiums and financing fees are amortized over the terms of the borrowing. The composition of non-recourse borrowings is presented in the following table: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | | Weighted-average | | | | | | Weighted-average | | | | | | | (MILLIONS EXCEPT AS NOTED) | Interest
rate (%) | | Term
(years) | | Carrying
value | | Estimated
fair value | | Interest
rate (%) | | Term
(years) | | Carrying
value | | Estimated
fair value | | Non-recourse borrowings(1)(2)(3) | | | | | | | | | | | | | | | | | | Hydroelectric | 7.5 | | | 9 | | | $ | 11,130 | | | $ | 11,312 | | | 6.9 | | | 8 | | | $ | 11,235 | | | $ | 11,229 | | | | Wind | 4.6 | | | 8 | | | 8,020 | | | 7,982 | | | 5.0 | | | 8 | | | 8,191 | | | 8,147 | | | | Utility-scale solar | 5.3 | | | 8 | | | 9,759 | | | 9,713 | | | 5.8 | | | 8 | | | 8,838 | | | 8,806 | | | | Distributed energy & storage | 6.0 | | | 6 | | | 3,023 | | | 3,086 | | | 5.7 | | | 4 | | | 2,802 | | | 2,869 | | | | Sustainable solutions | 7.1 | | | 2 | | | 456 | | | 456 | | | 7.4 | | | 3 | | | 489 | | | 489 | | | | Total | 6.0 | | | 8 | | | $ | 32,388 | | | $ | 32,549 | | | 6.0 | | | 8 | | | $ | 31,555 | | | $ | 31,540 | | | Less: Unamortized premiums and discounts(4) | | (154) | | | | | | | | | (181) | | | | | Less: Unamortized financing fees(4) | | (184) | | | | | | | | | (168) | | | | | | Less: Current portion | | (4,713) | | | | | | | | | (7,384) | | | | | | | | | | $ | 27,337 | | | | | | | | | $ | 23,822 | | | | |
(1)Includes $1,350 million (2025: $1,569 million) borrowed under a subscription facility of a Brookfield sponsored private fund. (2)Includes $268 million (2025: $58 million) outstanding to an associate of Brookfield. Refer to Note 20 - Related party transactions. (3)During the second quarter of 2025, subsidiaries of Brookfield Renewable, alongside related parties, became party to a non-recourse credit facility with third party lenders. Brookfield Renewable agreed that its subsidiaries would support their portion of any draws or repayments under the credit facility. (4)Unamortized premiums, discounts and financing fees are amortized over the terms of the borrowing.
|
| Schedule of Available Portion of Credit Facilities |
The following table summarizes the available portion of corporate credit facilities: | | | | | | | | | | | | | (MILLIONS) | June 30, 2026 | | December 31, 2025 | Authorized corporate credit facilities and related party credit facilities(1) | $ | 2,450 | | | $ | 2,450 | | Draws on corporate credit facilities(1) | (54) | | | — | | | Authorized letter of credit facility | 450 | | | 450 | | | Issued letters of credit | (403) | | | (414) | | | Available portion of corporate credit facilities | $ | 2,443 | | | $ | 2,486 | |
(1)Amounts are guaranteed by Brookfield Renewable.
|
| Schedule of Brookfield Renewables borrowings |
The following table outlines changes in Brookfield Renewable’s borrowings as at June 30, 2026: | | | | | | | | | | | | | | | | | (MILLIONS) | | Corporate borrowings | | Non-recourse borrowings | | | | As at December 31, 2025 | | $ | 3,686 | | | $ | 31,206 | | | Net cash flows from financing activities(1) | | 1,319 | | | 1,075 | | | | Non-cash | | | | | | | | | | | | | | | | | | | Transfer to liabilities, directly associated with assets held for sale | | — | | | (1,017) | | | | | | | | | | Foreign exchange | | (123) | | | 315 | | | Other(2)(3)(4) | | — | | | 471 | | | As at June 30, 2026 | | $ | 4,882 | | | $ | 32,050 | | | | | | | | |
(1)Excludes $361 million of net cash flow from financing activities related to tax equity recorded on the consolidated statements of cash flows. (2)Includes amortization of unamortized premiums, discounts and financing fees. (3)Includes $30 million (2025: $545 million) of non-recourse borrowings acquired through asset acquisitions. (4)Includes $165 million of non-recourse borrowings that has been reclassified from liabilities directly associated with assets held for sale during the second quarter of 2026. Refer to Note 4 - Assets held for sale, for more details.
|