Brookfield Renewable raised its five-year capital-deployment target to more than $11 billion from $10 billion as it outlined plans to expand storage and nuclear power, The Markets Daily reported on 1 October.
Key points
- Brookfield Renewable said its advanced solar, storage and wind pipeline stands at 90 GW.
- Managing Director of Investments Amanda Laszutko said annual new-capacity deliveries should reach approximately 11 GW from 2028, nearly 40% higher than deliveries over the previous 12 months.
- Chief Financial Officer Patrick Taylor expects financing raised in 2026 to exceed $40 billion, against $37 billion raised in 2025.
Brookfield’s 90-GW development pipeline
Chief Executive Officer Connor Teskey said electrification, industrial reshoring and demand from AI and data centres are pushing the energy market towards a period in which demand “significantly outweighs supply”. He expects renewables, batteries and nuclear power to meet a substantial share of new demand, citing their different costs and operating characteristics.
Teskey said Brookfield Renewable operates platforms in 35 countries and is approaching a commissioning pace of 10 GW of new projects a year. The company is also considering how existing grid connections and development sites could be used for land with power available to data centres. Its investments include Boralex and Isagen.
Laszutko said Brookfield Renewable developed less than 1 GW annually in 2021, compared with 8 GW over the past 24 months. She expects approximately 11 GW of new capacity to come online each year from 2028, nearly 40% more than Brookfield Renewable delivered in the previous 12 months.
Acquisitions have added to the scale of that programme. Laszutko said Brookfield Renewable closed four investments over the past two years, each with an enterprise value exceeding $6 billion. Together, she said, they account for 15 GW of operating capacity and a 50-GW pipeline in 16 countries. The company said its advanced pipeline across solar, storage and wind totals 90 GW.
Storage acquisitions and an Australian power contract
Brookfield Renewable acquired Neoen in 2024 and Aypa in 2026, expanding its storage business in Europe, Australia and North America, The Markets Daily reported. Teskey said the company now has more than 5 GW of operating storage assets and an advanced storage pipeline exceeding 30 GW.
Laszutko put the broader storage development pipeline at 80 GW. She said Brookfield Renewable had virtually no battery-storage capacity three years ago and that battery costs have fallen roughly 60% over the past 24 months. Contracting arrangements have also developed in ways that support long-term investment, she said.
In Australia, Brookfield Renewable has signed a 15-year solar-plus-storage power purchase agreement with a large hyperscale customer for a 140-megawatt project, Laszutko said.
Teskey said Brookfield Renewable also has nuclear exposure through Westinghouse, which he said services more than 60% of operating reactors worldwide. He said the company is pursuing nuclear construction opportunities in Europe, the Middle East and Asia. Westinghouse has signed agreements with the US government intended to support new nuclear construction, he said.
Taylor’s financing and capital-recycling plans
Laszutko said the higher five-year deployment target covers nuclear, baseload power, solar, wind, storage and technologies nearing a commercial turning point. Taylor said Brookfield Renewable raised $37 billion of financing in 2025. Brookfield Renewable expects financing raised in 2026 to exceed $40 billion, he said.
Taylor said asset sales and capital recycling generated $1 billion in net proceeds over the past 12 months and $4 billion over five years. He set an expectation of at least $1 billion a year from capital recycling. Brookfield Renewable has also established Northview in North America and a European private renewable vehicle with Mitsubishi, whose seed portfolios total nearly $2 billion of equity, he said.
Taylor said the company’s proposed corporate simplification is intended to create one consolidated security and could improve liquidity, index inclusion and demand from passive investors. Teskey said Brookfield Renewable could also repurchase shares as it seeks to have operating performance reflected in its share price.
Taylor said funds from operations per unit at Brookfield Renewable set a record over the past 12 months, while its distribution increased for a 15th consecutive year. He said 90% of cash flows and generation are contracted for more than 12 years, 70% of cash flows are inflation-linked, and 95% of financing is fixed-rate with a 14-year term.
