v3.26.1
NON-CONTROLLING INTERESTS (Tables)
 6 Months Ended
Jun. 30, 2026
Disclosure Of Detailed Information About Non-controlling Interests [Abstract]  
Schedule of Brookfield Renewables Non-controlling Interests
Brookfield Renewable`s non-controlling interests are comprised of the following:
(MILLIONS)June 30, 2026December 31, 2025
Participating non-controlling interests – in operating subsidiaries$25,395 $24,164 
General partnership interest in a holding subsidiary held by Brookfield50 52 
Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield
2,423 2,524 
BEPC exchangeable shares and class A.2 exchangeable shares2,312 2,330 
Preferred equity545 563 
Perpetual subordinated notes737 737 
$31,462 $30,370 
Schedule of Net Change in Participating Non-Controlling Interests
The net change in participating non-controlling interests – in operating subsidiaries is as follows:
(MILLIONS)Interests held by third partiesAs at December 31, 2025Net income
(loss)		Other
comprehensive (loss) income		Capital contributionsReturn of capitalDistributionsChange in OwnershipOther
As at June 30, 2026
Brookfield Americas Infrastructure Fund
 78%
$39 $— $— $— $— $— $— $(1)$38 
Brookfield Infrastructure Fund II
43% - 60%
1,171 7 (10)— — (352)— (7)809 
Brookfield Infrastructure Fund III
35% - 71%
975 (63)(40)— — (2)— (3)867 
Brookfield Infrastructure Fund IV
75%
1,541 (34)60 28 — (70)— (13)1,512 
Brookfield Infrastructure Fund V72 %1,760 (38)78 — — (294)— 7 1,513 
Brookfield Infrastructure Income Fund
3% - 25%
1,092 (13)54 167 — (18)— 2 1,284 
Brookfield Global Transition Fund I
77% - 80%
6,385 132 (273)448 (334)(114)— (127)6,117 
Brookfield Global Transition Fund II
72% - 77%
1,607 (131)34 1,732 (140)(21)— (154)2,927 
Neoen institutional partners
20% - 38%
2,139 (98)87 280 — (1)— (120)2,287 
Canadian Hydroelectric Portfolio50 %1,341 14 (43)— — (32)— 2 1,282 
The Catalyst Group25 %196 7 — — — — — — 203 
Isagen institutional partners54 %4,268 27 427 — — (138)— — 4,584 
Isagen public non-controlling interests0.3 %24 — 2 —— — — — 26 
Other
1.3% - 50%
1,626 (1)(27)255 (18)(114)231 (6)1,946 
Total$24,164 $(191)$349 $2,910 $(492)$(1,156)$231 $(420)$25,395 
Schedule of Composition of the Distributions
The composition of the distributions for the three and six months ended June 30 is presented in the following table:
Three months ended June 30Six months ended June 30
(MILLIONS)2026202520262025
General partnership interest in a holding subsidiary held by Brookfield
$1 $2 $3 $4 
Incentive distribution
43 35 84 72 
44 37 87 76 
Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield
79 73 154 147 
BEPC exchangeable shares and class A.2 exchangeable shares held by
Brookfield Holders17 17 35 34 
External shareholders56 50 109 101 
Total BEPC exchangeable shares and class A.2 exchangeable shares73 67 144 135 
$196 $177 $385 $358 
The composition of distributions declared for the three and six months ended June 30 are presented in the following table:
Three months ended June 30Six months ended June 30
(MILLIONS)2026202520262025
Brookfield Holders$32 $28 $64 $56 
External LP unitholders86 78 173 158 
$118 $106 $237 $214 
Schedule of Preferred Equity
Brookfield Renewable's preferred equity consists of Class A Preference Shares of Brookfield Renewable Power Preferred Equity Inc. ("BRP Equity") as follows:
(MILLIONS EXCEPT AS NOTED)Shares
outstanding		Cumulative
distribution
rate (%)		Earliest
permitted
redemption
date
Distributions declared for the six months ended
June 30
Carrying value as at
20262025June 30, 2026December 31, 2025
Series 1 (C$209)
8.37 5.20 April 2025$4 $4 $147 $152 
Series 2 (C$40)(1)
1.59 5.11 April 20251 1 28 29 
Series 3 (C$249)
9.96 6.52 July 20246 4 175 180 
Series 5 (C$103)
4.11 5.00 April 20182 2 72 75 
Series 6 (C$175)
7.00 5.00 July 20183 3 123 127 
31.03 $16 $14 $545 $563 
(1)Dividend rate represents annualized distribution based on the most recent quarterly floating rate.
Schedule of Perpetual Subordinated Notes
Brookfield Renewable's perpetual subordinated notes consists:
(MILLIONS EXCEPT AS NOTED)Notes
outstanding
Interest
rate (%)		Earliest permitted redemption date
Interest expense for the six months ended June 30
Carrying value as at
Issuance date20262025June 30, 2026December 31, 2025
April, 2021
14.00
4.63 April, 2026$8 $8 $340 $340 
December, 2021
10.40
4.88 December, 20266 6 252 252 
March, 2024
6.00
7.25 March, 20296 6 145 145 
30.40 $20 $20 $737 $737