Brookfield Renewable Corporation (BEPC): Business Model Canvas [Dec-2025 Updated]

You're trying to map out how a giant like Brookfield Renewable Corporation (BEPC) actually makes its money, right? Well, honestly, the core story isn't just about building wind farms; it's about locking down rock-solid, inflation-protected cash flow. Think about this: for their projected $\mathbf{\$4.9}$ billion in annual revenue for 2025, they have about $\mathbf{90\%}$ of their Funds From Operations (FFO) already contracted for an average of $\mathbf{13}$ to $\mathbf{14}$ years, with $\mathbf{70\%}$ of revenues indexed to inflation. That stability is rare at their scale of $\mathbf{48,673}$ MW across five continents. Dive into the full Business Model Canvas below to see exactly how they structure this fortress of contracted power.

Brookfield Renewable Corporation (BEPC) - Canvas Business Model: Key Partnerships

Brookfield Renewable Corporation (BEPC) relies on several critical external relationships to execute its global strategy, particularly in securing capital, large-scale offtake, and specialized technology deployment.

Brookfield Asset Management (BAM) provides capital and scale.

Brookfield Asset Management, a leading global alternative asset manager headquartered in New York, has over $1 trillion of assets under management as of late 2025. Brookfield Renewable Corporation (BEPC) is the flagship listed renewable power and transition company of Brookfield Asset Management. This backing allows BEPC to punch above its weight in securing large deals. Brookfield Asset Management targets digitization as a key investment theme, using BEPC as a primary vehicle. Brookfield Renewable intends to recycle capital, planning to deploy $9-10 billion over the next five years across development and Mergers and Acquisitions (M&A). In the third quarter of 2025, BEPC committed or deployed up to $2.1 billion (approximately $1.2 billion net to Brookfield Renewable) across multiple investments.

Strategic alliances with tech giants like Microsoft and Google for massive Power Purchase Agreements (PPAs).

The demand from hyperscalers, driven by AI, fuels major offtake agreements.

• Framework agreement with Microsoft to deliver over 10.5 GW of new renewable energy capacity between 2026 and 2030 in the U.S. and Europe. This agreement is almost eight times larger than the largest single corporate PPA ever signed.
• Landmark Hydro Framework Agreement with Google signed in Q2 2025 to provide up to 3,000 MW of hydroelectric capacity in the U.S..

The 10.5 GW target with Microsoft is considered a floor, not a ceiling, with additional capacity being delivered ahead of schedule.

Joint ventures with institutional partners for asset acquisitions and capital recycling.

Capital recycling is a natural source to drive accretive growth, with BEPC realizing strong returns on asset rotation.

The company expects to deliver approximately 8,000 megawatts of new projects in 2025.

Partnership with US Government and Cameco for nuclear services and technology.

Brookfield Renewable, through its ownership of Westinghouse with Cameco Corporation, entered a strategic partnership with the U.S. Government.

• The partnership aims to construct at least $80 billion of new Westinghouse AP1000 nuclear reactors across the United States.
• The U.S. Government will receive 20% of cash distributions from Westinghouse in excess of $17.5 billion once vesting conditions are met.
• Brookfield also announced a $5 billion partnership with Bloom Energy in late 2025.

Nuclear power currently represents less than 10% of Brookfield Renewable's Funds From Operations (FFO), but this contribution is set to grow.

Global equipment suppliers and construction firms for development pipeline.

The scale of BEPC's operations requires deep relationships with suppliers and contractors to meet its ambitious development targets. The company expects to grow its annual capacity delivery run rate to about 10 GW per year by 2027.

Brookfield Renewable Corporation (BEPC) - Canvas Business Model: Key Activities

You're looking at the core engine of Brookfield Renewable Corporation (BEPC), the day-to-day work that turns capital into contracted power. Honestly, it's all about scale, speed, and locking in returns. Here's what the team is driving right now in late 2025.

Developing and commissioning new capacity, targeting 8 GW online in 2025.

• Commissioned approximately ~1,800 megawatts of new capacity globally in the third quarter of 2025.
• Continue to expect to deliver approximately ~8,000 megawatts of new projects online across utility scale solar, wind, distributed energy, and storage in 2025.
• The company is on track to reach a ~10,000-megawatt run rate for new project delivery per annum by 2027.
• In 2024, Brookfield Renewable commissioned approximately 7 GW of new renewable energy capacity.

Operating and maintaining a global, diversified renewable asset fleet.

This is the base that generates the reliable cash flow you see in the FFO reports. You need to appreciate the sheer size and the contractual protection built into this fleet.

The operational risk is heavily mitigated:

• Approximately ~90% of cash flows are contracted, with an average remaining contract life of 13 to 14 years.
• Approximately ~70% of revenues are indexed to inflation.
• The portfolio generates over 90% of its Funds From Operations (FFO) from established renewable technologies.

Disciplined capital recycling: selling de-risked assets to fund new growth.

This activity is key to funding the growth without constantly tapping the equity markets. They sell mature assets to reinvest in development.

• Expected total asset sale proceeds from transactions closed or signed in 2025 are expected to exceed last year's $2.8 billion.
• In Q3 2025, capital recycling generated ~$2.8 billion in expected proceeds (~$900 million net to Brookfield Renewable) from signed and closed transactions.
• In 2024, asset recycling generated $2.8 billion in proceeds, crystallizing returns at approximately 2.5x multiple on invested capital and ~25% IRR.
• Brookfield Renewable targets deploying $9-10+ billion over the next five years into growth opportunities, partially funded by recycling.

Securing long-term PPAs with inflation-escalators.

This is how they ensure the cash flows are durable and grow with the economy. You see this in the contract metrics.

• Secured contracts to deliver an incremental ~4,000 gigawatt hours per year of generation in Q3 2025.
• Signed a 20-year contract at a hydro facility in PJM as part of the broader Renewable Energy Framework Agreement with Microsoft.
• The landmark agreement with Microsoft is scoped to deliver a minimum of 10.5 gigawatts of new renewable energy capacity across the U.S. and Europe from 2026 to 2030.
• PPA contracts signed under the HFA for Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania represent more than $3 billion of power and 670 MW of capacity.

Acquiring and integrating new renewable platforms (e.g., Neoen).

Platform acquisitions are a major lever for instant scale and pipeline growth. They don't just buy projects; they buy the teams that build them.

• Completed the privatization of French renewables firm Neoen on March 13, 2025, reaching a 97.73% shareholding.
• Neoen has a total production capacity of 8.9 gigawatts spanning solar, wind, and energy storage projects.
• In Q1 2025, Brookfield deployed approximately $4.6 billion across multiple investments, including the Neoen privatization.
• Agreed to acquire National Grid Renewables (NGR), which brings 3,900 megawatts of operating/construction assets and a 30,000-megawatt development pipeline.

Brookfield Renewable Corporation (BEPC) - Canvas Business Model: Key Resources

You're looking at the core assets that let Brookfield Renewable Corporation (BEPC) actually execute its strategy. These aren't just ideas; they are massive, tangible things and deep institutional knowledge. Honestly, the scale here is what sets them apart from smaller players.

The operational backbone is immense, spread globally to manage resource variability. This scale allows for better financing terms and operational efficiencies. Here's a quick look at the hard numbers underpinning their operations as of late 2025, primarily referencing Q3 2025 data:

The proprietary expertise is critical because it covers the entire spectrum of clean technology needed for grid stability and growth. They aren't just a solar shop; they are deeply involved in the essential, hard-to-scale assets.

• Proprietary operating and development expertise across all major clean technologies.
• Deep understanding of hydro, nuclear, wind, solar, and battery storage.
• Experience in low-cost, quick-to-market renewables development.
• Expertise in securing long-term, high-quality capacity contracts, like the 20-year contract signed in PJM.

Access to capital is the engine that feeds the pipeline. Brookfield Renewable Corporation benefits from being the flagship renewable company within the larger Brookfield Asset Management ecosystem, which manages over $1 trillion in assets. This access is demonstrated by their ability to raise funds efficiently and recycle capital at high returns.

The capital access strategy relies on several levers:

• Investment-Grade Balance Sheet: The BBB+ rating helps secure low-cost, long-term financing.
• Capital Recycling: This strategy generated approximately $2.8 Billion in expected proceeds in Q3 2025 alone from signed and closed transactions.
• Financing Demand: Recent upfinancing proceeds across three assets raised approximately $1.1 Billion, attracting strong investor demand that was over five times oversubscribed.

This combination of massive scale, top-tier credit, and deep capital access means Brookfield Renewable Corporation can deploy capital at a scale few others can match. Finance: draft 13-week cash view by Friday.

Brookfield Renewable Corporation (BEPC) - Canvas Business Model: Value Propositions

Brookfield Renewable Corporation (BEPC) delivers value through a foundation of highly contracted, inflation-protected cash flows derived from a globally scaled, diversified, low-carbon power platform.

Highly Stable Cash Flow and Contracted Revenue

The predictability of cash flows is a core proposition, supported by long-term agreements locking in future revenue. For fiscal year 2025, Brookfield Renewable Corporation has approximately 89% of its cash flows contracted.

• Average remaining contract life across the portfolio is between 13 and 14 years.
• This long-term contracting provides significant visibility into future operating earnings.

Inflation Protection

To protect against erosion of real returns, a substantial portion of revenues is linked to inflation. Approximately 70% of Brookfield Renewable Corporation revenues are indexed to inflation.

Diversified, Low-Carbon Power Solutions at Scale

Brookfield Renewable Corporation operates one of the world's largest publicly traded renewable power platforms, offering a mix of proven and emerging technologies across developed markets. As of June 30, 2025, the operating capacity totaled approximately 47,500 MW, with annualized LTA generation of about 124,277 GWh.

The FFO contribution across the major segments in Q3 2025 illustrates this diversification:

The portfolio consists of hydroelectric, wind, utility-scale solar, and storage facilities, with sustainable solutions assets including an investment in a global nuclear services business.

Tailored Decarbonization and Energy Reliability for Large Corporate Buyers

Brookfield Renewable Corporation serves a large customer base with tailored power solutions that support decarbonization mandates. The fleet delivers power to more than 1,000 customers.

• No single corporate buyer represents more than 2% of total revenues.
• Secured a landmark agreement with Google for up to 3,000 MW of hydroelectric capacity in the U.S.
• Signed a 20-year contract with Microsoft at a U.S. hydro facility in the PJM market.

Simpler Corporate Structure (BEPC) for a Broader Investor Base

Brookfield Renewable Corporation was established to provide investors with access to the portfolio through a traditional corporate structure, which aids in broader index inclusion and trading liquidity. Since the initial listing of BEPC, the market capitalization of Brookfield Renewable grew to over $20 billion.

• Investor base diversified, with U.S. and non-Canadian shareholders owning almost 60% of the float as of late 2024.
• Distributions on BEPC shares are identical in amount and timing to the Partnership Units (BEP).

Brookfield Renewable Corporation (BEPC) - Canvas Business Model: Customer Relationships

You're looking at how Brookfield Renewable Corporation (BEPC) manages its key relationships, which is crucial given the long-term nature of energy contracts and infrastructure development. The approach is highly segmented, moving from bespoke deals with tech giants to high-level government engagement.

Dedicated commercial teams managing long-term, bespoke PPA negotiations.

Brookfield Renewable Corporation uses its scale to secure massive, long-duration contracts. For instance, in the third quarter of 2025, they secured contracts for an incremental ~4,000 gigawatt hours per year of generation, which included signing a 20-year contract at one of its hydro facilities in PJM. This is part of a broader strategy that includes a landmark framework agreement with Microsoft to deliver over 10.5 GW between 2026 and 2030 across the U.S. and Europe. In Q1 2025, they were already expanding this framework with Microsoft, which stood at 10.5 GW. This focus on large, creditworthy offtakers is a core relationship strategy.

Institutional-grade investor relations for the BEPC corporate structure.

For shareholders, Brookfield Renewable Corporation maintains an institutional focus, evidenced by its strong balance sheet and targeted distribution policy. The declared quarterly dividend for BEPC was $0.373 per share, payable on December 31, 2025. The company targets a sustainable distribution increase averaging 5% to 9% annually. The corporate structure is underpinned by an investment-grade balance sheet, rated BBB+. Available liquidity stood at $4.7 billion as of Q2 2025, or $4.5 billion as of June 2025. The BEPC corporate shares have outperformed the LP structure since their introduction in 2020.

Account management for large utility and corporate customers.

The demand driving these relationships is immense, fueled by digitalization and electrification. Data center power demand is expected to jump from ~2% of global consumption to almost 10% by 2030 and up to 20% in the U.S.. To service this, a high percentage of cash flows are locked in: ~90% of cash flows are contracted with an average remaining life of 14 years as of Q3 2025, or ~90% contracted for an average 13-years as of November 2025. Furthermore, 70% of revenues are indexed to inflation, providing resilience to these long-term customer agreements.

Here's a quick look at the contracted cash flow profile supporting these customer relationships:

High-touch relationships with governments for regulatory and development support.

Brookfield Renewable Corporation engages at the highest levels for strategic development, most notably with the U.S. government. They entered a transformational partnership concerning nuclear power via Westinghouse, where the U.S. Government plans to invest at least $80 billion to construct new reactors. This alignment with federal energy policy mitigates project risk. The company also has significant operational presence in developed countries, with ~75% of Funds From Operations (FFO) derived from Developed Countries.

You should review the impact of the recent Westinghouse deal on the 2026 development budget, Finance: confirm the capital allocation plan for the nuclear segment by end of Q1 2026.

Brookfield Renewable Corporation (BEPC) - Canvas Business Model: Channels

Direct sales via long-term Power Purchase Agreements (PPAs) to end-users.

Brookfield Renewable Corporation (BEPC) secures a significant portion of its output through these long-term arrangements. As of late 2025, Brookfield Renewable Corporation (BEPC) has contracted about 90% of its capacity. The weighted average remaining term for these contracts stands at 13 years. Furthermore, approximately 70% of Brookfield Renewable Corporation (BEPC)'s revenue is indexed to inflation through these agreements. In the third quarter of 2025, Brookfield Renewable Corporation (BEPC) successfully advanced commercial priorities by securing long-term contracts to deliver an incremental ~4,000 gigawatt hours per year of generation. This included signing a 20-year contract at one of its hydro facilities in the PJM region as part of a broader Renewable Energy Framework Agreement with Microsoft. The company has 6,000 gigawatt hours (GWh) of capacity contracts scheduled to expire over the next five years, presenting a channel for recontracting at potentially higher market rates.

Here's a look at the contracted position as of late 2025:

Wholesale electricity markets for power sales to utilities and grid operators.

When power is not sold via a PPA, Brookfield Renewable Corporation (BEPC) channels its generation into spot and short-term wholesale markets. The company's total revenue for the twelve months ending September 30, 2025, was $3.83B, which was down -8.20% year-over-year. For the third quarter ending September 30, 2025, revenue was reported at $1.02B, representing a decrease of -5.05% compared to the previous quarter. The hydroelectric segment, which benefits from hydrology conditions, delivered Funds From Operations (FFO) of $205 million in Q2 2025, up over 50% year-over-year on strong performance. Brookfield Renewable Corporation (BEPC) reported record FFO of $302 million for the third quarter of 2025, a 10% increase year-over-year, benefiting from solid operating performance across the portfolio.

Public equity markets (NYSE, TSX) for BEPC share issuance.

Brookfield Renewable Corporation (BEPC) utilizes the public markets for capital raising and shareholder returns. As of December 4, 2025, the market capitalization was reported at $14.98 Billion USD. The company declared a quarterly dividend of $0.373 per class A exchangeable subordinate voting share, payable on September 30, 2025, to shareholders of record as of August 29, 2025. Brookfield Renewable Corporation (BEPC) targets a sustainable distribution with increases targeted on average at 5% to 9% annually. The company strengthened its liquidity by completing almost $27 billion in financings across the business in 2024, including $800 million in upfinancings, ending the year with over $4.3 billion of available liquidity at the corporate level. In Q3 2025, the company raised ~$1.1 billion (~$400 million net to Brookfield Renewable) in upfinancing proceeds across three assets.

Key financial metrics related to market access and shareholder returns:

• Market Capitalization (Dec 4, 2025): $14.98B USD
• Q3 2025 FFO: $302 million
• Declared Quarterly Dividend (Q3 2025): $0.373 per share
• Liquidity Available (End of 2024): Over $4.3 billion
• Upfinancing Proceeds (Q3 2025): ~$1.1 billion

Direct engagement with governments for large-scale infrastructure projects.

Brookfield Renewable Corporation (BEPC) engages directly with governmental bodies to secure large-scale mandates and partnerships. In the third quarter of 2025, the company highlighted a transformational partnership with the U.S. Government to accelerate the deployment of Westinghouse's reactor technology. This engagement is expected to drive substantial growth. Furthermore, Brookfield Renewable Corporation (BEPC) has a massive 200 GW development pipeline, which includes 65 GW of projects in the advanced-stage pipeline, often requiring governmental alignment or support for permitting and offtake. The company also expects to deliver approximately 8,000 megawatts of new projects globally in 2025. Brookfield Renewable Corporation (BEPC) also continued its asset recycling program, generating expected proceeds of ~$2.8 billion (~$900 million net to Brookfield Renewable) since the start of Q3 2025, which is used to fund new investments often involving public sector collaboration.

Brookfield Renewable Corporation (BEPC) - Canvas Business Model: Customer Segments

You're looking at the core buyers of Brookfield Renewable Corporation (BEPC)'s power and equity, and honestly, it's a mix of the biggest names in power grids, tech, and institutional finance. The company has built its model around securing long-term, creditworthy counterparties to lock in durable cash flows.

Large, creditworthy electric utilities and grid system operators.

The foundation of Brookfield Renewable Corporation's contracted revenue comes from traditional power purchasers. These are the entities that keep the lights on, and BEPC prioritizes those with strong balance sheets. For instance, as of mid-2025, the economic exposure of its contracted generation is clearly segmented across these traditional buyers.

Here's a breakdown of the economic exposure from contracted generation on a proportionate basis:

The majority of Brookfield Renewable Corporation's long-term Power Purchase Agreements (PPAs) are with counterparties rated as investment grade or otherwise deemed creditworthy. Furthermore, about 89% of its cash flows are contracted, with an average remaining contract life of 14 years across the portfolio as of the third quarter of 2025. This stability is key; it's why the company targets 10%+ Funds From Operations (FFO) per unit growth for 2025.

Global technology companies (data centers) and industrial corporations seeking clean power.

This segment is the current growth engine, driven by digitalization and Artificial Intelligence (AI) demand. Brookfield Renewable Corporation explicitly positions itself as the partner of choice to the hyperscalers. You see this in major deals signed recently.

Key customer engagements in this area include:

• Partnerships to supply power to technology giants like Microsoft and Google.
• A landmark Hydro Framework Agreement with Google to deliver up to 3,000 MW of hydroelectric capacity in the U.S.
• Contracting activities with these counterparties grew almost 100% in the last two years.
• The company brought 800 MW of new capacity online in Q1 2025, including solar, wind, and battery storage projects.

This focus on high-demand corporate users is supported by a development pipeline of approximately 231,700 MW as of mid-2025, with almost the entirety of development projects located in key data center markets. They are selling the backbone for the AI revolution, and that's a powerful customer draw.

Institutional investors (pension funds, endowments) and retail investors.

For investors, Brookfield Renewable Corporation offers exposure through its corporate shares (BEPC) or the limited partnership units (BEP). The BEPC structure was created to appeal to a broader investor base, simplifying tax reporting compared to the partnership units. The company targets 5% to 9% annual distribution growth, supported by its projected 10%+ FFO per unit growth through 2030.

Here are the financial metrics relevant to this customer segment:

• BEPC shares offered a 3.6% yield as of late 2025.
• BEP units offered a higher yield of 5.2%.
• The quarterly distribution for BEP units was $0.3730, equating to an annualized payout of $1.49.
• For the twelve months ending December 31, 2024, FFO per Unit was $1.83.

Institutional capital is attracted to the scale, investment-grade balance sheet (rated BBB+), and the highly contracted nature of the cash flows, which helps mitigate operating risk.

Governments and public sector entities focused on energy transition.

Brookfield Renewable Corporation engages with governments both through large-scale project financing and through its sustainable solutions platform, which includes nuclear services. This segment represents strategic, large-ticket partnerships that de-risk future growth areas.

Concrete examples of this engagement include:

• Entering a transformational partnership with the U.S. government at Westinghouse, where the government plans to invest at least $80 billion to construct new nuclear power reactors.
• Executing a project financing of €6.3 billion (approximately $7 billion) for Polenergia's offshore wind development in Poland, which was the largest project financing in the company's history as of Q2 2025.

The company's focus on energy security and independence, supported by net-zero aligned legislation, makes government entities a critical, albeit less frequent, customer type for its most complex, large-scale assets.

Brookfield Renewable Corporation (BEPC) - Canvas Business Model: Cost Structure

The Cost Structure for Brookfield Renewable Corporation (BEPC) reflects the capital-intensive nature of owning and developing a global fleet of clean energy assets. You're managing a business where the upfront investment is massive, so understanding where the cash goes is key to assessing profitability.

High capital expenditure for asset development and construction is a primary cost driver. This is the money required to build out the pipeline, which is essential for future growth. For context on the scale of deployment, Brookfield Renewable committed or deployed up to $2.1 billion (approximately $1.2 billion net to Brookfield Renewable) across multiple investments in the first nine months of 2025. Furthermore, the company has a stated goal to deploy between $9 billion and $10 billion over the next five years across both organic development and acquisitions. The estimated Capital Expenditure (CAPEX) for the full year 2025 for the partnership (BEP) was projected at $4,859 million.

Financing this massive asset base results in significant interest expense on total debt. While the prompt suggests a total debt figure of approximately $14.7 billion for the Last Twelve Months (LTM) ending September 2025, the reported Long Term Debt for Brookfield Renewable Corporation (BEPC) specifically was $12.771B for the quarter ending September 30, 2025. The associated financing cost is substantial; for the three months ended June 30, 2025, the total interest expense was reported at $425 million.

Managing a global, diverse asset portfolio necessitates considerable Operation and Maintenance (O&M) costs. These are the day-to-day expenses to keep the hydro, wind, solar, and battery assets running efficiently. While O&M is a component of total operating costs, the LTM September 2025 Operating Expenses for Brookfield Renewable Partners reached $5.289 billion, showing the sheer scale of the ongoing cost base.

Maintaining a scale, global platform requires commensurate General and Administrative (G&A) costs. For the twelve months ending September 30, 2025, Brookfield Renewable Corporation (BEPC) reported Selling, General & Administrative (SG&A) expenses of $110 million. This reflects the cost of managing a complex, international organization with significant corporate functions.

Finally, a major non-cash cost is Depreciation and Amortization (D&A). This accounting charge reflects the systematic write-down of the value of long-lived assets over time. For the first half of 2025 (H1 2025), the reported figure for depreciation and amortization was $319 million [Example]. It's important to note that management often emphasizes that this non-cash charge is typically higher than the actual sustaining capital expenditures required to maintain the assets, which is why Funds From Operations (FFO) is a key metric for assessing underlying cash performance.

Here is a summary of the key cost components:

The cost structure is heavily weighted toward financing and asset maintenance, which is typical for a utility-scale infrastructure owner. You see this play out in their focus on asset recycling to fund new development without taking on proportionally more debt for every growth dollar.

• Capital Deployment Target: $9 billion to $10 billion over the next five years.
• Fixed Rate Debt: 90% of total borrowings on a proportionate basis.
• Weighted Average Interest Rate: 5.6%.

Finance: draft 13-week cash view by Friday.

Brookfield Renewable Corporation (BEPC) - Canvas Business Model: Revenue Streams

You're looking at the core ways Brookfield Renewable Corporation (BEPC) brings in cash, which is heavily reliant on long-term contracts and asset turnover. The foundation is definitely electricity sales under long-term Power Purchase Agreements (PPAs) from its massive fleet of hydro, wind, and solar assets, which provide stable, inflation-linked cash flows.

For the third quarter of 2025, Brookfield Renewable Corporation reported Funds From Operations (FFO) of $302 million, or $0.46 per unit, which was a 10% increase year-over-year. The performance was driven by solid operating results across the portfolio. To give you a clearer picture of the quarterly flow, here's how the FFO broke down by key segment for Q3 2025:

The hydroelectric segment saw a 20% year-over-year increase in FFO to $119 million, helped by solid generation and higher pricing across the U.S. fleet. The company also advanced its commercial priorities in the quarter, signing contracts to deliver an additional 4,000 gigawatt-hours per year of generation.

Another significant component of the cash inflow is proceeds from capital recycling and asset sales. Brookfield Renewable continued this program, generating approximately $2.8 billion in expected proceeds from transactions signed and closed since the start of the third quarter of 2025. The company has a strong line of sight on further asset sales expected to contribute to record recycling for the full year 2025. The Q3 2025 revenue reported was $1.6 billion, which surpassed the forecast by 75.25%.

Revenue also comes from its growing sustainable solutions assets. These are key to helping corporates and countries meet net-zero goals. These revenue sources include:

• Investment in a leading global nuclear services business.
• A portfolio of investments in carbon capture and storage capacity.
• Investments in agricultural renewable natural gas, materials recycling, and eFuels manufacturing capacity.

The company continues to expect to deliver approximately 8,000 megawatts of new projects globally across utility scale solar, wind, distributed energy, and storage in 2025.