Business
Brookfield Renewable Power Fund Reports Second Quarter Results
Brookfield Renewable Power Fund Reports Second Quarter Results
About this update from Brookfield Renewable Partners Lp
[{"type":"text","content":"\n\n\n\n Aug. 9, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nGATINEAU, QC, Aug. 9 /CNW Telbec/ - (BRC.UN) - Brookfield Renewable Power Fund (the "Fund") today reported its financial and operating results for the second quarter ended June 30, 2010. The Fund provides additional information on its strategy and results in its Letter to Unitholders and Supplemental Information available at www.brpfund.com under Investor Relations/Financial Highlights.\nHydroelectric generation in the quarter totaled 993 gigawatt hours ("GWh") as compared to 1,149 in the same period last year and a long-term average of 1,627 GWh. Generation of 219 GWh from assets acquired in August 2009 was more than offset by lower generation due to below average inflows in Ontario and Québec. Generation in the New England and British Columbia regions was in line with their long-term averages. Wind generation of 103 GWh was less than expected, however availability remained strong at 98 per cent and revenues were not affected due to the long-term wind levelization agreement in place until 2019.\n"Like many other power producers, our generation levels in Ontario and Québec reflected the unusually low levels of precipitation in the second quarter - among the lowest on record," said Richard Legault, President and CEO, "While this type of hydrology is uncommon, the Fund's flexible operating profile and strong financial position allow it to manage this variability when it does occur."\nConstruction of the Gosfield Wind project is progressing according to schedule, with the completion of access roads, the substation entrance structure and all 22 turbine foundations. Turbine and component deliveries have been completed, installations are proceeding as planned and commercial operation of the project remains scheduled for the fall of 2010.\nSecond quarter revenues were $67.4 million as compared to $65.4 million in the same period...