Brookfield Renewable Partners L.P. (BEP) and Brookfield Renewable Corporation (BEPC) announced the renewal of their normal course issuer bids on December 15, 2025. The new bid authorizes the companies to repurchase up to 5% of their issued and outstanding LP Units, Exchangeable Shares, Preferred Units, and Preferred Shares, with the program set to commence on December 18, 2025 and expire on December 17, 2026 unless all authorized shares are bought back earlier.
Under the renewed bid, Brookfield Renewable can repurchase up to 15,296,104 LP Units and 7,244,255 Exchangeable Shares. Daily limits are capped at 69,640 LP Units and 65,073 Exchangeable Shares, representing roughly 25% of the average daily trading volume for each class. For Preferred Units and Preferred Shares, the bid allows repurchases of approximately 10% of the public float for each series, with daily limits for certain series such as 1,000 shares for Series 2, 5, and 6.
The company also plans to launch automatic share purchase plans in the week of December 22, 2025. These plans will enable Brookfield Renewable to buy back LP Units, Preferred Units, Exchangeable Shares, and Preferred Shares when they trade below their intrinsic value, with all repurchased shares to be cancelled to reduce the outstanding share count and potentially lift earnings per share.
Management highlighted that the renewed bid provides flexibility to deploy excess cash in a disciplined manner. By repurchasing shares that trade below intrinsic value, the company aims to return value to shareholders while maintaining a strong balance sheet and healthy cash flow generation.
The renewal follows a period of robust cash generation. In the third quarter of 2025, Brookfield Renewable reported revenue of $931 million, down from $1,041 million in the same quarter a year earlier, and a net loss of $233 million versus $674 million a year earlier. Funds from operations rose 10% year‑over‑year to $302 million in Q3 2025, and the twelve‑month total for 2024 was $1,217 million, or $1.83 per unit, a 10% increase from the prior year.
The share‑repurchase authority is part of the company’s broader capital‑allocation strategy, which has historically included disciplined buybacks and dividend payments. By renewing the bid, Brookfield Renewable signals confidence in its long‑term cash‑flow prospects and a commitment to returning excess capital to shareholders while preserving flexibility for future investment opportunities.
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