Brookfield Renewable posted net income of US$138 million in 2022

Facebook
Twitter
LinkedIn
Reddit
Email
The company closed or agreed to invest up to US$12 billion over the next five years. Image: Brookfield Renewable

Renewables asset owner Brookfield Renewable has reported a 2022 net income of US$138 million, improving from a loss a year earlier of US$66 million in the same period.

In Q4 2022, Brookfield Renewable recorded a net income of US$60 million, increasing from US$33 million in Q4 2021.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The company posted revenue of US$4.71 billion in 2022, a 15% increase year-on-year which benefited from strong global power prices and continued growth, both through development and acquisitions. In Q4 2022, the company’s revenue was US$1.2 billion, up from US$1.09 billion in 2021.

Brookfield Renewable said that 2022 was the strongest year for growth to date as it closed or agreed to invest up to US$12 billion to be deployed over the next five years, representing almost half of the growth target for that period. It invested across all major decarbonisation asset classes, including utility-scale wind and solar, distributed generation, nuclear, battery storage, and transition investments. In the future, corporate clean energy demand, low-cost energy profile, electrification, and energy independence will continue to be key trends accelerating renewable deployment.

In renewable development, Brookfield Renewable agreed to invest up to US$6.4 billion of capital through organic growth within existing businesses and acquiring new complementary platforms that enhance its current offering. For example, it invested in three large renewable development businesses in the US: Urban Grid, Standard Solar, and Scout Clean Energy.

After the acquisition, Brookfield Renewable said that the US had remained its largest market with about 74,000MW in operations and development.

Moreover, since “this time last year”, Brookfield Renewable’s global renewable power development pipeline has nearly doubled to almost 110,000MW today. Included in this project pipeline is 19,000MW which is advanced stage and construction-ready.

“They are all benefiting from the Inflation Reduction Act and strong corporate demand, which is enabling us to accelerate the development pipelines and grow these businesses beyond our original underwriting expectations,” said Connor Teskey, CEO of Brookfield Renewable.

The company also announced the actual generation of renewable energy last year. For example, the actual generation of utility-scale solar was 1,882GWh, increasing from 1,777GWh in 2021. The adjusted EBITDA of utility-scale solar increased from US$298 million in 2021 to US$362 million in 2022.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 8, 2025
US solar module prices jumped in Q3 2025 as developers scrambled to meet the 2 September 2025 safe harbour deadline for Investment Tax Credit (ITC) qualification, according to supply chain platform Anza.
October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.
Premium
October 8, 2025
PV Talk: Smart Energy Council's Nigel Morris reflects on how Australia has become a global testbed for distributed solar and storage innovation.
October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.
October 8, 2025
Saatvik Green Energy has secured new solar PV module orders worth more than INR7 billion (US$84 million), to be delivered in this financial year.
October 8, 2025
Australia's NEM achieved a new minimum operational demand record of 9,666MW, marking a 4% decrease from the previous record.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK