Brookfield Renewable (BEPC) 6-K 5 Aug 22 2022 Q2 Current report (foreign) Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2022
Cover [Abstract]
Document Type	6-K
Entity File Number	001-39355
Entity Registrant Name	BROOKFIELD RENEWABLECORPORATION
Entity Address, Address Line One	250 Vesey Street
Entity Address, Address Line Two	15th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10281
Entity Central Index Key	0001791863
Document Period End Date	Jun. 30, 2022
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 571	$ 410
Restricted cash	251	146
Trade receivables and other current assets	1,379	1,146
Financial instrument assets	79	58
Due from related parties	362	548
Current assets	2,642	2,308
Financial instrument assets	149	58
Equity-accounted investments	454	455
Property, plant and equipment, at fair value	37,258	37,915
Intangible assets	216	218
Goodwill	813	849
Deferred income tax assets	105	86
Other long-term assets	132	97
Total Assets	41,769	41,986
Current liabilities
Accounts payable and accrued liabilities	473	452
Financial instrument liabilities	353	247
Due to related parties	485	649
Non-recourse borrowings	1,375	1,452
Provisions	16	12
BEPC exchangeable and class B shares	5,993	6,163
Current liabilities	8,695	8,975
Financial instrument liabilities	508	523
Non-recourse borrowings	12,581	12,060
Deferred income tax liabilities	5,017	5,020
Provisions	524	547
Other long-term liabilities	616	636
Equity
Non-controlling interests	10,016	10,558
The partnership	3,812	3,667
Total Equity	13,828	14,225
Total Liabilities and Equity	41,769	41,986
Attributable to non- controlling interests
Current assets
Cash and cash equivalents	391	276
Property, plant and equipment, at fair value	20,129	20,647
Participating non-controlling interests – in operating subsidiaries
Equity
Non-controlling interests	9,755	10,297
Total Equity	9,755	10,297
Participating non-controlling interests – in a holding subsidiary held by the partnership
Equity
Non-controlling interests	261	261
Total Equity	$ 261	$ 261

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Consolidated Statment of Income (Loss) [line items]
Revenues		$ 997	$ 817	$ 1,926	$ 1,656
Other income		6	5	70	19
Direct operating costs	[1]	(296)	(249)	(587)	(587)
Management service agreement		(43)	(47)	(95)	(102)
Interest expense		(255)	(220)	(483)	(440)
Share of (loss) earnings from equity-accounted investments		1	(1)	(1)	1
Foreign exchange and financial instrument gain (loss)		3	(18)	(30)	16
Depreciation		(286)	(275)	(582)	(565)
Other		0	(31)	(26)	(177)
Remeasurement of BEPC exchangeable and BEPC class B shares		1,080	694	171	788
Income tax recovery (expense)
Current		(29)	(18)	(67)	(31)
Deferred		(41)	2	(41)	19
Income tax recovery (expense)		(70)	(16)	(108)	(12)
Net income		1,137	659	255	597
Net income attributable to:
The partnership		1,046	611	70	602
Attributable to non- controlling interests
Consolidated Statment of Income (Loss) [line items]
Revenues		571	453	1,126	936
Other income		(10)	(6)	13	(5)
Direct operating costs		(152)	(125)	(300)	(337)
Foreign exchange and financial instrument gain (loss)		17	6	5	41
Depreciation		(162)	(156)	(329)	(323)
Remeasurement of BEPC exchangeable and BEPC class B shares		0	0	0	0
Income tax recovery (expense)
Current		(20)	(11)	(47)	(19)
Participating non-controlling interests – in operating subsidiaries
Income tax recovery (expense)
Net income		90	46	180	(10)
Net income attributable to:
Non-controlling interests		90	46	180	(10)
Participating non-controlling interests – in a holding subsidiary held by the partnership
Net income attributable to:
Non-controlling interests		$ 1	$ 2	$ 5	$ 5
[1]Direct operating costs exclude depreciation expense disclosed below.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Consolidated Statement Of Comprehensive Income [line items]
Net income	$ 1,137	$ 659	$ 255	$ 597
Other comprehensive income (loss) that will not be reclassified to net income:
Revaluations of property, plant and equipment	0	15	(2)	(257)
Actuarial gain on defined benefit plans	9	7	12	12
Deferred income taxes on above items	(3)	(4)	(5)	40
Total items that will not be reclassified to net income	6	18	5	(205)
Other comprehensive income (loss) that may be reclassified to net income:
Foreign currency translation	(742)	249	(53)	(385)
Gains (losses) arising during the period on financial instruments designated as cash-flow hedges	13	(83)	(46)	12
Unrealized gain on foreign exchange swaps net investment hedge	58	5	15	26
Reclassification adjustments for amounts recognized in net income	35	0	90	(60)
Deferred income taxes on above items	(27)	11	(39)	1
Equity-accounted investments	(2)	0	1	0
Total items that may be reclassified subsequently to net income	(665)	182	(32)	(406)
Other comprehensive income (loss)	(659)	200	(27)	(611)
Comprehensive income (loss)	478	859	228	(14)
Comprehensive income (loss) attributable to:
The partnership	804	759	142	409
Comprehensive income (loss)	478	859	228	(14)
Participating non-controlling interests – in operating subsidiaries
Consolidated Statement Of Comprehensive Income [line items]
Net income	90	46	180	(10)
Other comprehensive income (loss) that may be reclassified to net income:
Other comprehensive income (loss)	(393)	38	(103)	(413)
Comprehensive income (loss) attributable to:
Non-controlling interests	(303)	84	77	(423)
Participating non-controlling interests – in a holding subsidiary held by the partnership
Comprehensive income (loss) attributable to:
Non-controlling interests	$ (23)	$ 16	$ 9	$ 0

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Total	The partnership	Foreign currency translation	Revaluation surplus	Other	Participating non-controlling interests – in a holding subsidiary held by the partnership	Participating non-controlling interests – in operating subsidiaries
Beginning balance at Dec. 31, 2020	$ 11,725	$ 1,177	$ (5,826)	$ (1,350)	$ 8,381	$ (28)	$ 258	$ 10,290
Net income (loss)	597	602	602				5	(10)
Other comprehensive income (loss)	(611)	(193)		(44)	(131)	(18)	(5)	(413)
Capital contributions	38							38
Dividends declared	(290)							(290)
Other	(15)	(27)	(49)		23	(1)		12
Change in period	(281)	382	553	(44)	(108)	(19)	0	(663)
Ending balance at Jun. 30, 2021	11,444	1,559	(5,273)	(1,394)	8,273	(47)	258	9,627
Beginning balance at Mar. 31, 2021	10,738	814	(5,871)	(1,567)	8,268	(16)	241	9,683
Net income (loss)	659	611	611				2	46
Other comprehensive income (loss)	200	148		173	5	(30)	14	38
Capital contributions	11							11
Dividends declared	(154)							(154)
Other	(10)	(14)	(13)			(1)	1	3
Change in period	706	745	598	173	5	(31)	17	(56)
Ending balance at Jun. 30, 2021	11,444	1,559	(5,273)	(1,394)	8,273	(47)	258	9,627
Beginning balance at Dec. 31, 2021	14,225	3,667	(4,834)	(1,568)	10,125	(56)	261	10,297
Net income (loss)	255	70	70				5	180
Other comprehensive income (loss)	(27)	72		60	(1)	13	4	(103)
Capital contributions	196							196
Disposals (Note 2)	0	0	27		(27)
Dividends declared	(807)						(9)	(798)
Other	(14)	3	(1)	1	4	(1)		(17)
Change in period	(397)	145	96	61	(24)	12	0	(542)
Ending balance at Jun. 30, 2022	13,828	3,812	(4,738)	(1,507)	10,101	(44)	261	9,755
Beginning balance at Mar. 31, 2022	13,880	3,014	(5,808)	(1,250)	10,130	(58)	293	10,573
Net income (loss)	1,137	1,046	1,046				1	90
Other comprehensive income (loss)	(659)	(242)		(258)	1	15	(24)	(393)
Capital contributions	135							135
Disposals (Note 2)	0	0	27		(27)
Dividends declared	(642)						(9)	(633)
Other	(23)	(6)	(3)	1	(3)	(1)		(17)
Change in period	(52)	798	1,070	(257)	(29)	14	(32)	(818)
Ending balance at Jun. 30, 2022	$ 13,828	$ 3,812	$ (4,738)	$ (1,507)	$ 10,101	$ (44)	$ 261	$ 9,755

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating activities
Net income	$ 1,137	$ 659	$ 255	$ 597
Adjustments for the following non-cash items:
Depreciation	286	275	582	565
Unrealized financial instruments gain	29	20	84	3
Share of earnings (loss) from equity-accounted investments	(1)	1	1	(1)
Deferred income tax (recovery) expense	41	(2)	41	(19)
Other non-cash items	7	5	(5)	55
Remeasurement of BEPC exchangeable shares and class B shares	(1,080)	(694)	(171)	(788)
Dividends received from equity-accounted investments	2	1	2	1
Cash flows from operations before changes in working capital	421	265	789	413
Changes in due to or from related parties	11	37	15	61
Net change in working capital balances	(109)	(407)	(229)	(287)
Cash flows from (used in) operating activities	323	(105)	575	187
Financing activities
Proceeds from non-recourse borrowings	1,652	782	2,333	1,085
Repayment of non-recourse borrowings	(1,008)	(327)	(1,670)	(624)
Repayment of lease liabilities	(4)	(5)	(7)	(12)
Capital contributions from non-controlling interests	135	11	196	38
Distributions paid:
To participating non-controlling interests	(642)	(154)	(807)	(290)
Related party borrowings, net	(165)	115	9	168
Cash flows (used in) from financing activities	(32)	422	54	365
Investing activities
Acquisitions, net of cash and cash equivalents, in acquired entity	0	(12)	0	(12)
Investment in property, plant and equipment	(246)	(166)	(414)	(405)
Proceeds from disposal of assets	88	0	88	0
Restricted cash and other	(102)	(34)	(125)	(72)
Cash flows (used in) investing activities	(260)	(212)	(451)	(489)
Foreign exchange gain (loss) on cash	(18)	4	(17)	(6)
Cash and cash equivalents
Increase	13	109	161	57
Balance, beginning of period	558	298	410	355
Balance, end of period	571	396	571	396
Supplemental cash flow information:
Net change in cash classified within assets held for sale	0	(11)	0	(16)
Interest paid	237	202	448	407
Interest received	6	2	11	7
Income taxes paid	$ 27	$ 16	$ 33	$ 23

BASIS OF PREPARATION AND SIGNIF

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES [ABSTRACT]
BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (a) Statement of compliance The interim consolidated financial statements have been prepared in accordance with IAS 34, Interim Financial Reporting. Certain information and footnote disclosures normally included in the annual audited consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”), have been omitted or condensed. These interim consolidated financial statements should be read in conjunction with the company’s December 31, 2021 audited consolidated financial statements. The interim consolidated statements have been prepared on a basis consistent with the accounting policies disclosed in the December 31, 2021 audited consolidated financial statements. The interim consolidated financial statements are unaudited and reflect adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to provide a fair statement of results for the interim periods in accordance with IFRS. The results reported in these interim consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for an entire year. The policies set out below are consistently applied to all periods presented, unless otherwise noted. These interim financial statements were authorized for issuance by the Board of Directors of the company and authorized of issue on August 5, 2022. Certain comparative figures have been reclassified to conform to the current year’s presentation. References to $, €, R$, and COP are to United States (“U.S.”) dollars, Euros, Brazilian reais, and Colombian pesos, respectively. All figures are presented in millions of U.S. dollars unless otherwise noted. (b) Basis of presentation The interim consolidated financial statements have been prepared on the basis of historical cost, except for the revaluation of property, plant and equipment and certain assets and liabilities which have been measured at fair value. Cost is recorded based on the fair value of the consideration given in exchange for assets. (c) Consolidation These interim consolidated financial statements include the accounts of the company and its subsidiaries, which are the entities over which the company has control. An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Non-controlling interests in the equity of the company’s subsidiaries are shown separately in equity in the interim consolidated statements of financial position. (d) Recently adopted accounting standards Amendments to IFRS 3 Business Combinations - Reference to the Conceptual Framework The amendments add an exception to the recognition principle of IFRS 3 to avoid the issue of potential ‘day 2’ gains or losses arising for liabilities and contingent liabilities that would be within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets or IFRIC 21 Levies, if incurred separately. The exception requires entities to apply the criteria in IAS 37 or IFRIC 21, respectively, instead of the Conceptual Framework, to determine whether a present obligation exists at the acquisition date. At the same time, the amendments add a new paragraph to IFRS 3 to clarify that contingent assets do not qualify for recognition at the acquisition date. The amendments to IFRS 3 apply to annual reporting periods beginning on or after January 1, 2022. The company has completed an assessment and implemented its transition plan to address the impact and effect changes as a result of amendments to the recognition principle of IFRS 3. The adoption did not have a significant impact on the company’s financial reporting. (e) Future changes in accounting policies Amendments to IAS 1 – Presentation of Financial Statements (“IAS 1”) The amendments clarify how to classify debt and other liabilities as current or non-current. The amendments to IAS 1 apply to annual reporting periods beginning on or after January 1, 2023. The company is currently assessing the impact of these amendments. IFRS Interpretation Committee Agenda Decision - Demand Deposits with Restriction on Use Arising from a Contract with a Third Party (IAS 7 Statement of Cash Flow) In April 2022, the IFRS Interpretation Committee (“IFRS IC”) concluded that restrictions on the use of a demand deposit arising from a contract with a third party do not result in the deposit no longer being cash, unless those restrictions change the nature of the deposit in a way that it would no longer meet the definition of cash in IAS 7 Statement of Cash Flow. In the fact pattern described in the request, the contractual restrictions on the use of the amounts held in the demand deposit did not change the nature of the deposit — the entity can access those amounts on demand. Therefore, the entity should include the demand deposit as a component of “cash and cash equivalents” in its statement of financial position and in its statement of cash flows. The company is currently assessing the impact of this IFRS IC agenda decision. There are currently no other future changes to IFRS with potential impact on the company.

DISPOSAL OF ASSETS

DISPOSAL OF ASSETS	6 Months Ended
	Jun. 30, 2022
Disclosure Of Disposal Of Assets [Abstract]
DISPOSAL OF ASSETS	DISPOSAL OF ASSETS In June 2022, the company, together with its institutional partners, completed the sale of its 100% interest in a 36 MW operating hydroelectric portfolio in Brazil ("Brazil Hydroelectric Portfolio") for proceeds of R$461 million (approximately $90 million and $23 million net to the company). The company holds an approximately 23% economic interest in each of the project entities within the Brazil Hydroelectric Portfolio and a 100% voting interest. As a result of the disposition, the company's post-tax portion of the accumulated revaluation surplus of $27 million was reclassified from accumulated other comprehensive income directly to equity and noted as a Disposal item in the consolidated statements of changes in equity. Summarized financial information relating to the disposal of the Brazil Hydroelectric Portfolio is shown below: (MILLIONS) Total Proceeds, net of transaction costs $ 90 Carrying value of net assets held for sale Assets 90 Liabilities — 90 Loss on disposal, net of transaction costs $ —

RISK MANAGEMENT AND FINANCIAL I

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2022
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS [Abstract]
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS	RISK MANAGEMENT AND FINANCIAL INSTRUMENTS RISK MANAGEMENT The company`s activities expose it to a variety of financial risks, including market risk (i.e., commodity price risk, interest rate risk, and foreign currency risk), credit risk and liquidity risk. The company uses financial instruments primarily to manage these risks. Fair value disclosures Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair values determined using valuation models require the use of assumptions concerning the amount and timing of estimated future cash flows and discount rates. In determining those assumptions, management looks primarily to external readily observable market inputs such as interest rate yield curves, currency rates, commodity prices and, as applicable, credit spreads. A fair value measurement of a non-financial asset is the consideration that would be received in an orderly transaction between market participants, considering the highest and best use of the asset. Assets and liabilities measured at fair value are categorized into one of three hierarchy levels, described below. Each level is based on the transparency of the inputs used to measure the fair values of assets and liabilities. Level 1 – inputs are based on unadjusted quoted prices in active markets for identical assets and liabilities; Level 2 – inputs, other than quoted prices in Level 1, that are observable for the asset or liability, either directly or indirectly; and Level 3 – inputs for the asset or liability that are not based on observable market data . The following table presents the company's assets and liabilities measured and disclosed at fair value classified by the fair value hierarchy: June 30, 2022 December 31, 2021 (MILLIONS) Level 1 Level 2 Level 3 Total Total Assets measured at fair value: Cash and cash equivalents $ 571 $ — $ — $ 571 $ 410 Restricted cash (1) 302 — — 302 197 Financial instrument assets (1) Energy derivative contracts — 29 2 31 45 Interest rate swaps — 175 — 175 40 Foreign exchange swaps — 20 — 20 31 Investments in debt and equity securities — — 2 2 — Property, plant and equipment — — 37,258 37,258 37,915 Liabilities measured at fair value: Financial instrument liabilities (1) Energy derivative contracts — (295) (155) (450) (206) Interest rate swaps — (26) — (26) (103) Foreign exchange swaps — (2) — (2) (6) Tax equity — — (383) (383) (455) Liabilities for which fair value is disclosed: BEPC exchangeable and class B shares (2) (5,993) — — (5,993) (6,163) Non-recourse borrowing (1) (1,725) (12,052) — (13,777) (14,397) Total $ (6,845) $ (12,151) $ 36,724 $ 17,728 $ 17,308 (1) Includes both the current amount and long-term amounts (2) BEPC class C shares are also classified as financial liabilities due to their cash redemption feature. As discussed in Note 9 –BEPC Exchangeable shares, BEPC Class B shares and BEPC Class C shares, the BEPC class C shares meet certain qualifying criteria and are presented as equity. There were no transfers between levels during the six months ended June 30, 2022. Financial instruments disclosures The aggregate amount of our company's net financial instrument positions are as follows: June 30, 2022 December 31, 2021 (MILLIONS) Assets Liabilities Net Assets Net Assets Energy derivative contracts $ 31 $ 450 $ (419) $ (161) Interest rate swaps 175 26 149 (63) Foreign exchange swaps 20 2 18 25 Investments in debt and equity securities 2 — 2 — Tax equity — 383 (383) (455) Total 228 861 (633) (654) Less: current portion 79 353 (274) (189) Long-term portion $ 149 $ 508 $ (359) $ (465) (a) Tax equity The company owns and operates certain projects in the United States under tax equity structures to finance the construction of solar and wind projects. In accordance with the substance of the contractual agreements, the amounts paid by the tax equity investors for their equity stakes are classified as financial instrument liabilities on the interim consolidated statements of financial position. Gain or loss on the tax equity liabilities are recognized within foreign exchange and financial instruments (loss) gain in the interim consolidated statements of income (loss). (b) Energy derivative contracts The company has entered into energy derivative contracts primarily to stabilize or eliminate the price risk on the sale of certain future power generation. Certain energy contracts are recorded in the company's interim consolidated financial statements at an amount equal to fair value, using quoted market prices or, in their absence, a valuation model using both internal and third-party evidence and forecasts. (c) Interest rate hedges The company has entered into interest rate hedge contracts primarily to minimize exposure to interest rate fluctuations on its variable rate debt or to lock in interest rates on future debt refinancing. All interest rate hedge contracts are recorded in the interim consolidated financial statements at fair value. (d) Foreign exchange swaps The company has entered into foreign exchange swaps to minimize its exposure to currency fluctuations impacting its investments and earnings in foreign operations, and to fix the exchange rate on certain anticipated transactions denominated in foreign currencies. The following table reflects the gains (losses) included in foreign exchange and financial instrument (loss) gain in the interim consolidated statements of income for the three and six months ended June 30: Three months ended June 30 Six months ended June 30 (MILLIONS) 2022 2021 2022 2021 Energy derivative contracts $ (37) $ (44) $ (124) $ (63) Interest rate swaps (2) 8 20 33 Foreign exchange swaps 27 3 35 48 Tax equity 32 2 62 16 Foreign exchange gain (loss) (17) 13 (23) (18) $ 3 $ (18) $ (30) $ 16 The following table reflects the gains (losses) included in other comprehensive income (loss) in the interim consolidated statements of comprehensive income (loss) for the three and six months ended June 30: Three months ended June 30 Six months ended June 30 (MILLIONS) 2022 2021 2022 2021 Energy derivative contracts $ (75) $ (71) $ (224) $ (23) Interest rate swaps 79 (3) 179 37 Foreign exchange swaps 9 (9) (1) (2) 13 (83) (46) 12 Foreign exchange swaps - net investment 58 5 15 26 $ 71 $ (78) $ (31) $ 38 The following table reflects the reclassification adjustments recognized in net income in the interim consolidated statements of comprehensive income (loss) for the three and six months ended June 30: Three months ended June 30 Six months ended June 30 (MILLIONS) 2022 2021 2022 2021 Energy derivative contracts $ 35 $ (1) $ 88 $ (63) Interest rate swaps — 1 2 3 $ 35 $ — $ 90 $ (60)

SEGMENTED INFORMATION

SEGMENTED INFORMATION	6 Months Ended
	Jun. 30, 2022
Disclosure of operating segments [abstract]
SEGMENTED INFORMATION	SEGMENTED INFORMATION The company’s Chief Executive Officer and Chief Financial Officer (collectively, the chief operating decision maker or “CODM”) review the results of the operations, manage the operations, and allocate resources based on the type of technology, in conjunction with other segments of Brookfield Renewable. The operations of the company are segmented by – 1) hydroelectric, 2) wind, 3) solar, 4) distributed energy & sustainable solutions (pumped storage, cogeneration and biomass) and 5) corporate. This best reflects the way in which the CODM reviews the results of the company. The reporting to the CODM was revised during the quarter to incorporate the distributed energy & sustainable solutions business of the company. The distributed energy & sustainable solutions business corresponds to a portfolio of multi-technology assets and investments that support the broader strategy of decarbonization of electricity grids around the world through distributed generation and offering of other sustainable services. The financial information of operating segments in the prior period has been restated to present the corresponding results of the distributed energy & sustainable solutions. In accordance with IFRS 8, Operating Segments, the company discloses information about its reportable segments based upon the measures used by the CODM in assessing performance. The accounting policies of the reportable segments are the same as those described in Note 1 – Basis of presentation and significant accounting policies. Reporting to the CODM on the measures utilized to assess performance and allocate resources is provided on a proportionate basis. Information on a proportionate basis reflects the company’s share from facilities which it accounts for using consolidation and the equity method whereby the company either controls or exercises significant influence or joint control over the investment, respectively. Proportionate information provides shareholders perspective that the CODM considers important when performing internal analyses and making strategic and operating decisions. The CODM also believes that providing proportionate information helps investors understand the impacts of decisions made by management and financial results allocable to the company’s shareholders. Proportionate financial information is not, and is not intended to be, presented in accordance with IFRS. Tables reconciling IFRS data with data presented on a proportionate consolidation basis have been disclosed below. Segment revenues, other income, direct operating costs, interest expense, depreciation, current and deferred income taxes, and other are items that will differ from results presented in accordance with IFRS as these items include the company’s proportionate share of earnings from equity-accounted investments attributable to each of the above-noted items, and exclude the proportionate share of earnings (loss) of consolidated investments not held by the company apportioned to each of the above-noted items. The company does not control those entities that have not been consolidated and as such, have been presented as equity-accounted investments in its consolidated financial statements. The presentation of the assets and liabilities and revenues and expenses does not represent the company’s legal claim to such items, and the removal of financial statement amounts that are attributable to non-controlling interests does not extinguish the company’s legal claims or exposures to such items. The company reports its results in accordance with these segments and presents prior period segmented information in a consistent manner. The company analyzes the performance of its operating segments based on Funds From Operations. Funds From Operations is not a generally accepted accounting measure under IFRS and therefore may differ from definitions of Funds From Operations used by other entities, as well as the definition of funds from operations used by the Real Property Association of Canada (“REALPAC”) and the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”) . The company uses Funds From Operations to assess the performance of the company before the effects of certain cash items (e.g., acquisition costs and other typical non-recurring cash items) and certain non-cash items (e.g., deferred income taxes, depreciation, non-cash portion of non-controlling interests, unrealized gain or loss on financial instruments, non- The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles the company's proportionate results to the consolidated statements of income on a line by line basis by aggregating the components comprising the earnings from the company's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the three months ended June 30, 2022: Attributable to the partnership Contribution from equity-accounted investments Attributable As per financials (1) (MILLIONS) Hydroelectric Wind Solar Distributed energy & sustainable solutions Corporate Total Revenues $ 307 $ 43 $ 51 $ 37 $ — $ 438 $ (12) $ 571 $ 997 Other income 4 3 9 — — 16 — (10) 6 Direct operating costs (109) (13) (11) (16) (2) (151) 7 (152) (296) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — 5 — 5 202 33 49 21 (2) 303 — 409 Management service costs — — — — (38) (38) — (5) (43) Interest expense (1) (46) (7) (14) (4) (4) (75) 1 (126) (200) Current income taxes (9) (1) 1 — — (9) — (20) (29) Share of interest and cash taxes from equity-accounted investments — — — — — — (1) — (1) Share of Funds From Operations attributable to non-controlling interests — — — — — — — (258) (258) Funds From Operations 147 25 36 17 (44) 181 — — Depreciation (127) 3 (162) (286) Foreign exchange and financial instrument gain (loss) (14) — 17 3 Deferred income tax expense (11) — (30) (41) Other (8) — 8 — Dividends on BEPC exchangeable shares (1) (55) — — (55) Remeasurement of BEPC exchangeable and BEPC class B shares 1,080 — — 1,080 Share of earnings from equity-accounted investments — (3) — (3) Net income attributable to non-controlling interests — — 167 167 Net income attributable to the partnership $ 1,046 $ — $ — $ 1,046 (1) Share of earnings from equity-accounted investments of $1 million is comprised of amounts found on the Share of revenue, other income and direct operating costs, Share of interest and cash taxes and Share of earnings lines. Net income attributable to participating non-controlling interests of $91 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests. Total interest expense of $255 million is comprised of amounts on Interest expense and Dividends on BEPC exchangeable shares. The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles the company's proportionate results to the consolidated statements of income on a line by line basis by aggregating the components comprising the earnings from the company's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the three months ended June 30, 2021: Attributable to the partnership Contribution from equity-accounted investments Attributable As per financials (1) (MILLIONS) Hydroelectric Wind Solar Distributed energy & sustainable solutions Corporate Total Revenues $ 243 $ 47 $ 49 $ 34 $ — $ 373 $ (9) $ 453 $ 817 Other income 10 — 1 — — 11 — (6) 5 Direct operating costs (96) (8) (12) (12) — (128) 4 (125) (249) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — 5 — 5 157 39 38 22 — 256 — 322 Management service costs — — — — (47) (47) — — (47) Interest expense (1) (31) (10) (13) (5) (4) (63) 2 (107) (168) Current income taxes (5) (2) — — — (7) — (11) (18) Share of interest and cash taxes from equity-accounted investments — — — — — — (2) — (2) Share of Funds From Operations attributable to non-controlling interests — — — — — — — (204) (204) Funds From Operations 121 27 25 17 (51) 139 — — Depreciation (122) 3 (156) (275) Foreign exchange and financial instrument gain (loss) (25) 1 6 (18) Deferred income tax recovery (expense) 8 — (6) 2 Other (31) — — (31) Dividends on BEPC exchangeable shares (1) (52) — — (52) Remeasurement of BEPC exchangeable and BEPC class B shares 694 — — 694 Share of earnings from equity-accounted investments — (4) — (4) Net income attributable to non-controlling interests — — 156 156 Net income attributable to the partnership $ 611 $ — $ — $ 611 (1) Share of earnings from equity-accounted investments of $1 million is comprised of amounts found on the Share of revenue, other income and direct operating costs, Share of interest and cash taxes and Share of earnings lines. Net loss attributable to participating non-controlling interests of $48 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests. Total interest expense of $220 million is comprised of amounts on Interest expense and Dividends on BEPC exchangeable shares. The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles the company's proportionate results to the consolidated statements of income on a line by line basis by aggregating the components comprising the earnings from the company's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the six months ended June 30, 2022: Attributable to the partnership Contribution from equity-accounted investments Attributable As per financials (1) (MILLIONS) Hydroelectric Wind Solar Distributed energy & sustainable solutions Corporate Total Revenues 573 95 90 67 — 825 (25) 1,126 1,926 Other income 24 5 21 7 — 57 — 13 70 Direct operating costs (216) (27) (24) (33) (2) (302) 15 (300) (587) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — 10 — 10 381 73 87 41 (2) 580 — 839 Management service costs — — — — (90) (90) — (5) (95) Interest expense (1) (84) (14) (25) (9) (4) (136) 3 (240) (373) Current income taxes (19) (1) — — — (20) — (47) (67) Share of interest and cash taxes from equity-accounted investments — — — — — — (3) — (3) Share of Funds From Operations attributable to non-controlling interests — — — — — — — (547) (547) Funds From Operations 278 58 62 32 (96) 334 — — Depreciation (259) 6 (329) (582) Foreign exchange and financial instrument gain (loss) (37) 2 5 (30) Deferred income tax recovery (expense) 5 — (46) (41) Other (34) — 8 (26) Dividends on BEPC exchangeable shares (1) (110) — — (110) Remeasurement of BEPC exchangeable and BEPC class B shares 171 — — 171 Share of earnings from equity-accounted investments — (8) — (8) Net income attributable to non-controlling interests — — 362 362 Net income attributable to the partnership 70 — — 70 (1) Share of earnings from equity-accounted investments of $1 million is comprised of amounts found on the Share of revenue, other income and direct operating costs, Share of interest and cash taxes and Share of earnings lines. Net loss attributable to participating non-controlling interests of $185 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests. Total interest expense of $483 million is comprised of amounts on Interest expense and Dividends on BEPC exchangeable shares. The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles the company's proportionate results to the consolidated statements of income on a line by line basis by aggregating the components comprising the earnings from the company's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the six months ended June 30, 2021: Attributable to the partnership Contribution from equity-accounted investments Attributable As per financials (1) (MILLIONS) Hydroelectric Wind Solar Distributed energy & sustainable solutions Corporate Total Revenues 478 113 86 65 — 742 (22) 936 1,656 Other income 17 4 3 — — 24 — (5) 19 Direct operating costs (179) (33) (24) (23) — (259) 9 (337) (587) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — 13 — 13 316 84 65 42 — 507 — 594 Management service costs — — — — (102) (102) — — (102) Interest expense (1) (67) (20) (27) (10) (4) (128) 4 (212) (336) Current income taxes (10) (2) — — — (12) — (19) (31) Share of interest and cash taxes from equity-accounted investments — — — — — — (4) — (4) Share of Funds From Operations attributable to non-controlling interests — — — — — — — (363) (363) Funds From Operations 239 62 38 32 (106) 265 — — Depreciation (248) 6 (323) (565) Foreign exchange and financial instrument gain (loss) (27) 2 41 16 Deferred income tax recovery (expense) 21 — (2) 19 Other (93) — (84) (177) Dividends on BEPC exchangeable shares (1) (104) — — (104) Remeasurement of BEPC exchangeable and BEPC class B shares 788 — — 788 Share of earnings from equity-accounted investments — (8) — (8) Net income attributable to non-controlling interests — — 368 368 Net income attributable to the partnership 602 — — 602 (1) Share of earnings from equity-accounted investments of $1 million is comprised of amounts found on the Share of revenue, other income and direct operating costs, Share of interest and cash taxes and Share of earnings lines. Net loss attributable to participating non-controlling interests of $5 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests. Total interest expense of $440 million is comprised of amounts on Interest expense and Dividends on BEPC exchangeable shares. The following table presents information on a segmented basis about certain items in our company's statements of financial position and reconciles the company's proportionate results to the consolidated statements of financial position by aggregating the components comprising the company's investments in associates and reflecting the portion of each line item attributable to non-controlling interests: Attributable to the partnership Contribution Attributable As per (MILLIONS) Hydroelectric Wind Solar Distributed energy & sustainable solutions Corporate Total As at June 30, 2022 Cash and cash equivalents $ 62 $ 60 $ 48 $ 11 $ — $ 181 $ (1) $ 391 571 Property, plant and equipment, at fair value 13,501 1,458 1,568 1,212 — 17,739 (610) 20,129 37,258 Total assets 15,181 1,723 1,732 1,268 14 19,918 (175) 22,026 41,769 Total borrowings 2,803 723 1,265 485 — 5,276 (163) 8,843 13,956 Other liabilities 4,147 433 170 18 6,063 10,831 (12) 3,166 13,985 For the six months ended June 30, 2022: Additions to property, plant and equipment 61 20 63 10 — 154 (7) 309 456 As at December 31, 2021 Cash and cash equivalents $ 41 $ 35 $ 43 $ 13 $ 4 $ 136 $ (2) $ 276 410 Property, plant and equipment, at fair value 13,577 1,478 1,585 1,232 — 17,872 (604) 20,647 37,915 Total assets 15,108 1,700 1,731 1,279 17 19,835 (176) 22,327 41,986 Total borrowings 2,720 765 1,377 461 — 5,323 (161) 8,350 13,512 Other liabilities 4,051 379 119 66 6,231 10,846 (15) 3,418 14,249 For the six months ended June 30, 2021: Additions to property, plant and equipment 92 25 41 4 — 162 (5) 300 457 Additional Segment Information The following table presents consolidated revenue split by technology for the three and six months ended June 30: Three months ended June 30 Six months ended June 30 (MILLIONS) 2022 2021 2022 2021 Hydroelectric $ 608 $ 463 $ 1,177 $ 941 Wind 157 144 340 346 Solar 166 144 294 252 Distributed energy & sustainable solutions 66 66 115 117 Total $ 997 $ 817 $ 1,926 $ 1,656 The following table presents consolidated property, plant and equipment and equity-accounted investments split by geographical region: (MILLIONS) June 30, 2022 December 31, 2021 North America $ 22,510 $ 22,634 Colombia 8,170 8,497 Brazil 3,664 3,299 Europe 3,368 3,940 $ 37,712 $ 38,370

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2022
Disclosure Of Income Taxes [Abstract]
INCOME TAXES	INCOME TAXESThe company's effective income tax rate was 29.8% for the six months ended June 30, 2022 (2021: 2.0%). The effective tax rate is different than the statutory rate primarily due to rate differentials and non-controlling interests' income or loss not subject to tax.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2022
Disclosure of detailed information about property, plant and equipment [abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT The following table presents a reconciliation of property, plant and equipment at fair value: (MILLIONS) Hydroelectric Wind Solar Other (1) Total (2) Property, plant and equipment, at fair value As at December 31, 2021 $ 25,496 $ 4,998 $ 6,457 $ 188 $ 37,139 Additions 8 (52) 2 — (42) Transfer from construction work-in-progress 95 1 — 1 97 Disposals (97) — — — (97) Items recognized through OCI: Change in fair value (2) — — — (2) Foreign exchange (171) (85) (201) 6 (451) Items recognized through net income: Depreciation (253) (153) (159) (17) (582) As at June 30, 2022 $ 25,076 $ 4,709 $ 6,099 $ 178 $ 36,062 Construction work-in-progress As at December 31, 2021 $ 224 $ 114 $ 433 $ 5 $ 776 Additions 61 144 289 4 498 Transfer to property, plant and equipment (95) (1) — (1) (97) Items recognized through OCI: Foreign exchange 9 (5) 15 — 19 As at June 30, 2022 $ 199 $ 252 $ 737 $ 8 $ 1,196 Total property, plant and equipment, at fair value As at December 31, 2021 (2) $ 25,720 $ 5,112 $ 6,890 $ 193 $ 37,915 As at June 30, 2022 (2) $ 25,275 $ 4,961 $ 6,836 $ 186 $ 37,258 (1) Includes cogeneration and biomass. (2) Includes right-of-use assets not subject to revaluation of $49 million ( 2021 : $52 million) in our hydroelectric segment, $127 million ( 2021 : $130 million) in our wind segment, $148 million ( 2021 : $157 million) in our solar segment , and $2 million ( 2021 : $2 million) in other.

BORROWINGS

BORROWINGS	6 Months Ended
	Jun. 30, 2022
Disclosure of detailed information about borrowings [abstract]
BORROWINGS	BORROWINGS Non-recourse borrowings Non-recourse borrowings are typically asset-specific, long-term, and non-recourse borrowings denominated in the domestic currency of the subsidiary. Non-recourse borrowings in the United States and Europe consist of both fixed and floating interest rate debt indexed to the London Interbank Offered Rate (“LIBOR”) and the Euro Interbank Offered Rate ("EURIBOR"). The company uses interest rate swap agreements in the United States and Colombia to minimize its exposure to floating interest rates. Non-recourse borrowings in Brazil consist of floating interest rates of Taxa de Juros de Longo Prazo (“TJLP”), the Brazil National Bank for Economic Development’s long-term interest rate, Interbank Deposit Certificate rate (“CDI”), or The Extended National Consumer Price Index (“IPCA”) plus a margin. Non-recourse borrowings in Colombia include floating interest rates of Indicador Bancario de Referencia rate (“IBR”), the Banco Central de Colombia short-term interest rate, or Colombian Consumer Price Index (“IPC”), the Banco Central de Colombia inflation rate, plus a margin. Effective January 1, 2022, Sterling Overnight Index Average (“SONIA”) replaced £ LIBOR, and Euro Short-term Rate (“€STR”) replaced € LIBOR. It is also currently expected that Secured Overnight Financing Rate (“SOFR”) will replace US$ LIBOR prior to June 30, 2023. As at June 30, 2022, the company’s floating rate borrowings have not been materially impacted by SONIA and €STR reforms. The company has a transition plan for the replacement of US$ LIBOR with the Secured Overnight Financing Rate (“SOFR”) benchmark on June 30, 2023. This plan involves certain amendments to the contractual terms of US$ LIBOR referenced floating rate borrowings, interest rate swaps, interest rate caps and updates to hedge designations. These are not expected to have a material impact. The composition of non-recourse borrowings is presented in the following table: June 30, 2022 December 31, 2021 Weighted-average Weighted-average (MILLIONS EXCEPT AS NOTED) Interest Term (years) (3) Carrying Estimated Interest Term Carrying Estimated Non-recourse borrowings (1)(2) Hydroelectric 6.3 8 $ 6,812 $ 6,683 5.1 7 $ 6,160 $ 6,543 Wind 4.4 9 2,417 2,300 3.7 9 2,416 2,577 Solar 5.1 13 3,938 4,006 4.1 13 4,110 4,365 Distributed energy & sustainable solutions 4.2 12 836 788 3.9 12 860 912 Total 5.5 10 $ 14,003 $ 13,777 4.5 9 $ 13,546 $ 14,397 Add: Unamortized premiums (4) 37 57 Less: Unamortized financing fees (4) (84) (91) Less: Current portion (1,375) (1,452) $ 12,581 $ 12,060 (1) Includes $9 million (2021: $8 million) borrowed under a subscription facility of a Brookfield sponsored private fund. (2) Includes $15 million (2021: nil) outstanding to an associate of Brookfield. Refer to Note 16 - Related party transactions for more details. (3) Excluding credit facilities total weighted-average term is 9 years. (4) Unamortized premiums and unamortized financing fees are amortized over the terms of the borrowing. In the first quarter of 2022, the company completed a financing of COP 200 billion ($53 million) in Colombia. The loan bears a fixed interest of 8.66% and matures in 2032. In the first quarter of 2022, the company completed a financing of COP 356 billion ($95 million) in Colombia. The bond issued in two tranches bears variable interest at IPC plus an average margin of 4.39% maturing in 2029 and 2037. In the first quarter of 2022, the company completed a financing of COP 200 billion ($53 million) in Colombia. The loan bears variable interest at IBR plus 3.25% maturing in 2032. In the first quarter of 2022, the company completed a financing of R$150 million ($29 million) associated with a solar development project in Brazil. The loan bears a variable interest at IPCA plus 5.04% and matures February 2045. In the first quarter of 2022, the company completed a refinancing totaling $170 million associated with a hydroelectric portfolio in the United States. The debt drawn in two tranches bears an average fixed interest of 3.62% and matures in 2032. In the first quarter of 2022, the company completed a refinancing totaling $35 million associated with a hydroelectric portfolio in the United States. A portion of the debt bears a fixed rate of 4.98% and the remaining portion bears interest at the SOFR plus 3.25% maturing in 2026. In the second quarter of 2022, the company completed a financing of R$300 million ($63 million) associated with a solar development project in Brazil. The loan bears a variable interest at IPCA plus 5.39% and matures 2045. In the second quarter of 2022, the company completed a financing of R$500 million ($96 million) associated with a solar development project in Brazil. The loan bears a variable interest at IPCA plus 1.58% and matures 2024. In the second quarter of 2022, the company completed a financing of €66 million ($70 million) associated with a solar asset in Spain. The loan bears a fixed interest rate of 3.36% and matures 2039. In the second quarter of 2022, the company completed a financing of COP 400 billion ($97 million) in Colombia. The loan bears variable interest at IBR plus 3.25% maturing in 2032. In the second quarter of 2022, the company completed a financing of COP 100 billion ($24 million) in Colombia. The loan bears variable interest at IBR plus 3.9% maturing in 2030. In the second quarter of 2022, the company completed a financing of COP 50 billion ($12 million) in Colombia. The loan bears variable interest at IBR plus 3.9% maturing in 2030. In the second quarter of 2022, the company completed a financing of COP 100 billion ($24 million) in Colombia. The loan bears variable interest at IBR plus 4.70% maturing in 2034. In the second quarter of 2022, the company completed a financing of COP 219 billion ($53 million) in Colombia. The loan bears variable interest at IBR plus 2.45% maturing in 2027. In the second quarter of 2022, the company completed a financing of COP 594 billion ($144 million) in Colombia. The loan bears variable interest at IBR plus 2.98% maturing in 2029. In the second quarter of 2022, the company completed a financing of COP 237 billion ($57 million) in Colombia. The loan bears variable interest at IBR plus 2.45% maturing in 2030. In the second quarter of 2022, the company increased its revolving credit facility capacity associated with the United States business by $250 million to a total of $750 million. In the second quarter of 2022, the company completed a refinancing totaling $500 million associated with the United States business. The loan bears a variable interest at SOFR plus 2.85% and matures in 2029.

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS	6 Months Ended
	Jun. 30, 2022
Disclosure Of Detailed Information About Non-controlling Interests [Abstract]
NON-CONTROLLING INTERESTS	NON-CONTROLLING INTERESTS The company`s non-controlling interests are comprised of the following: (MILLIONS) June 30, 2022 December 31, 2021 Non-controlling interests Participating non-controlling interests – in operating subsidiaries $ 9,755 $ 10,297 Participating non-controlling interests – in a holding subsidiary held by the partnership 261 261 $ 10,016 $ 10,558 Participating non-controlling interests – in operating subsidiaries The net change in participating non-controlling interests – in operating subsidiaries is as follows: (MILLIONS) Brookfield Americas Infrastructure Fund Brookfield Infrastructure Fund II Brookfield Infrastructure Fund III Brookfield Infrastructure Fund IV Isagen institutional investors Isagen public non-controlling interests The Catalyst Group TerraForm Power Other Total As at December 31, 2021 $ 686 $ 2,251 $ 3,186 $ 261 $ 2,442 $ 13 $ 132 $ 853 $ 473 $ 10,297 Net income (loss) — (36) 67 (1) 106 1 12 22 9 180 Other comprehensive income (loss) (7) 5 (15) 10 (66) — — 18 (48) (103) Capital contributions — 4 — 186 — — — — 6 196 Dividends declared (21) (39) (251) — (424) (1) (5) (46) (11) (798) Other (1) — 2 2 (1) (4) (1) (1) 3 (17) (17) As at June 30, 2022 $ 658 $ 2,187 $ 2,989 $ 455 $ 2,054 $ 12 $ 138 $ 850 $ 412 $ 9,755 Interests held by third parties 75% - 78% 43% - 60% 23% - 71% 75 % 53 % 0.3 % 25 % 33 % 0.3% - 30% (1) During the year, the company issued additional shares to a partly-owned subsidiary of Brookfield Renewable. Refer to Note 15 – Commitments, contingencies and guarantees in the unaudited interim consolidated financial statements for further details.

BEPC EXCHAGEABLE SHARES, BEPC C

BEPC EXCHAGEABLE SHARES, BEPC CLASS B SHARES AND BEPC CLASS C SHARES	6 Months Ended
	Jun. 30, 2022
Disclosure Of Share Capital, Reserves And Other Equity Interest [Abstract]
BEPC EXCHAGEABLE SHARES, BEPC CLASS B SHARES AND BEPC CLASS C SHARES	BEPC EXCHANGEABLE SHARES, BEPC CLASS B SHARES AND BEPC CLASS C SHARES The BEPC exchangeable shares and class B shares are classified as liabilities due to their exchange and cash redemption features. As at June 30, 2022, the BEPC exchangeable shares and class B shares were remeasured to $34.80 per share to reflect the NYSE closing price of a BEP unit. Remeasurement gains or losses associated with these shares are recorded in the interim consolidated statements of income (loss). During the three and six months ended June 30, 2022, our shareholders exchanged 4,743 and 8,084 BEPC exchangeable shares, respectively for an equal number of BEP units resulting in a decrease of less than $1 million to our financial liability (2021: 6,033 and 9,642 shares, respectively resulting in a decrease of less than $1 million). During the three and six months ended June 30, 2022, the company declared and paid dividends of $55 million and $110 million, respectively (2021: $52 million and $104 million, respectively) on its BEPC exchangeable shares outstanding. Dividends on BEPC exchangeable shares are presented as interest expense in the interim consolidated statements of income. The following table provides a continuity schedule of outstanding BEPC exchangeable and class B shares along with the corresponding liability and remeasurement gains and losses. BEPC exchangeable shares outstanding (units) BEPC class B shares outstanding (units) BEPC exchangeable and BEPC class B shares ($ million) Balance, as at December 31, 2021 172,203,342 165 $ 6,163 Share issuance 27,064 — 1 Share exchanges (8,084) — — Remeasurement of liability — — (171) Balance, as at June 30, 2022 172,222,322 165 $ 5,993 Similar to BEPC exchangeable shares and BEPC class B shares, BEPC class C shares are classified as liabilities due to their cash redemption feature. However, BEPC class C shares, the most subordinated class of all common shares, meet certain qualifying criteria and are presented as equity instruments given the narrow scope presentation exceptions existing in IAS 32. There are 189.6 million BEPC class C shares issued and outstanding as at June 30, 2022. In December 2021, the company renewed its normal course issuer bid for its outstanding BEPC exchangeable shares. The company is authorized to repurchase up to 8.6 million BEPC exchangeable shares, representing 5% of its issued and outstanding BEPC exchangeable shares. The bids will expire on December 15, 2022, or earlier should the company complete its repurchases prior to such date. There were no BEPC exchangeable shares repurchased during the three and six months ended June 30, 2022.

EQUITY-ACCOUNTED INVESTMENTS

EQUITY-ACCOUNTED INVESTMENTS	6 Months Ended
	Jun. 30, 2022
Disclosure Of Detailed Information About Equity-Accounted Investments [Abstract]
EQUITY-ACCOUNTED INVESTMENTS	EQUITY-ACCOUNTED INVESTMENTS The following are the company’s equity-accounted investments for the six months ended June 30, 2022: (MILLIONS) June 30, 2022 Opening balance $ 455 Share of net loss (1) Share of other comprehensive income 1 Dividends received (2) Foreign exchange translation and other 1 Ending balance $ 454

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS	6 Months Ended
	Jun. 30, 2022
Disclosure Of Detailed Information About Cash And Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS The company’s cash and cash equivalents are as follows: (MILLIONS) June 30, 2022 December 31, 2021 Cash $ 567 $ 405 Short-term deposits 4 5 $ 571 $ 410

RESTRICTED CASH

RESTRICTED CASH	6 Months Ended
	Jun. 30, 2022
Disclosure Of Detailed Information About Restricted Cash [Abstract]
RESTRICTED CASH	RESTRICTED CASH The company’s restricted cash is as follows: (MILLIONS) June 30, 2022 December 31, 2021 Operations $ 82 $ 80 Credit obligations 74 67 Development projects 146 50 Total 302 197 Less: non-current (51) (51) Current $ 251 $ 146

TRADE RECEIVABLES AND OTHER CUR

TRADE RECEIVABLES AND OTHER CURRENT ASSETS	6 Months Ended
	Jun. 30, 2022
Disclosure Trade Receivables and Other Current Assets [Abstract]
TRADE RECEIVABLES AND OTHER CURRENT ASSETS	TRADE RECEIVABLES AND OTHER CURRENT ASSETS The company's trade receivables and other current assets are as follows: (MILLIONS) June 30, 2022 December 31, 2021 Trade receivables $ 457 $ 502 Collateral deposits (1) 733 434 Prepaids and other 71 83 Income tax receivables 10 30 Inventory 21 20 Other short-term receivables 87 77 $ 1,379 $ 1,146 (1) Collateral deposits are related to energy derivative contracts the company enters into in order to mitigate the exposure to wholesale market electricity prices on the future sale of uncontracted generation, as part of the company's risk management strategy.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2022
Disclosure Accounts Payable and Accured Liabilities [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The company's accounts payable and accrued liabilities are as follows: (MILLIONS) June 30, 2022 December 31, 2021 Operating accrued liabilities $ 196 $ 195 Accounts payable 108 118 Interest payable on borrowings 82 71 BEPC exchangeable shares distributions payable (1) 14 16 Current portion of lease liabilities 23 25 Other 50 27 $ 473 $ 452 (1) Includes amounts payable only to external shareholders. Amounts payable to Brookfield and the partnership are included in due to related parties.

COMMITMENTS, CONTINGENCIES AND

COMMITMENTS, CONTINGENCIES AND GUARANTEES	6 Months Ended
	Jun. 30, 2022
Disclosure Commitments Contingencies and Guarantess [Abstract]
COMMITMENTS, CONTINGENCIES AND GUARANTEES	COMMITMENTS, CONTINGENCIES AND GUARANTEES Commitments In the course of its operations, the company has entered into agreements for the use of water, land and dams. Payment under those agreements varies with the amount of power generated. The various agreements can be renewed and are extendable up to 2089. In the normal course of business, the company will enter into capital expenditure commitments which primarily relate to contracted project costs for various growth initiatives. As at June 30, 2022, the company had $675 million (2021: $392 million) of capital expenditure commitments of which $394 million is payable in 2022, $262 million is payable in 2023 , $17 million is payable in 2024 to 2027, and $2 million thereafter. The company, together with institutional partners, entered into a commitment to invest COP 153 billion ($37 million) to acquire a 38 MW portfolio of solar development projects in Colombia. The transaction is expected to close in th e second half of 2022, subject to customary closing conditions, with the company expected to hold a 22% interest. Brookfield Renewable, together with institutional partners, agreed to acquire a high-quality approximately 600 MW late-stage greenfield solar development project in Brazil, for a total investment of approximately $186 million (approximately $47 million net to Brookfield Renewable). The transaction is expected to close in second half of 2022, subject to customary closing conditions, with Brookfield Renewable holding a 25% interest. An integral part of the company’s strategy is to participate with institutional investors in Brookfield-sponsored private equity funds that target acquisitions that suit the company’s profile. In the normal course of business, the company has made commitments to Brookfield-sponsored private equity funds to participate in these target acquisitions in the future, if and when identified. From time to time, in order to facilitate investment activities in a timely and efficient manner, the company will fund deposits or incur other costs and expenses (including by use of loan facilities to consummate, support, guarantee or issue letters of credit) in respect of an investment that ultimately will be shared with or made entirely by Brookfield sponsored vehicles, consortiums and/or partnerships (including private funds, joint ventures and similar arrangements), the company, or by co-investors. Contingencies The company and its subsidiaries are subject to various legal proceedings, arbitrations and actions arising in the normal course of business. While the final outcome of such legal proceedings and actions cannot be predicted with certainty, it is the opinion of management that the resolution of such proceedings and actions will not have a material impact on the company’s consolidated financial position or results of operations. The company’s subsidiaries themselves have provided letters of credit, which include, but are not limited to, guarantees for debt service reserves, capital reserves, construction completion and performance. The company, along with institutional investors, has provided letters of credit, which include, but are not limited to, guarantees for debt service reserves, capital reserves, construction completion and performance as it relates to interests in the Brookfield Americas Infrastructure Fund, the Brookfield Infrastructure Fund II, Brookfield Infrastructure Fund III, Brookfield Infrastructure Fund IV and Brookfield Global Transition Fund. The company’s subsidiaries have similarly provided letters of credit, which include, but are not limited to, guarantees for debt service reserves, capital reserves, construction completion and performance. Letters of credit issued by the company’s subsidiaries as at June 30, 2022 were $766 million (2021: $698 million). Guarantees In the normal course of operations, the company executes agreements that provide for indemnification and guarantees to third-parties of transactions such as business dispositions, capital project purchases, business acquisitions, sales and purchases of assets and services, and the transfer of tax credits or renewable energy grants from tax equity partnerships. The company has also agreed to indemnify its directors and certain of its officers and employees. The nature of substantially all of the indemnification undertakings and guarantee agreements prevents the company from making a reasonable estimate of the maximum potential amount that the company could be required to pay third parties as the agreements do not always specify a maximum amount and the amounts are dependent upon the outcome of future contingent events, the nature and likelihood of which cannot be determined at this time. Two direct and indirect wholly-owned subsidiaries of our company fully and unconditionally guaranteed (i) any and all present and future unsecured debt securities issued by Brookfield Renewable Partners ULC, in each case as to payment of principal, premium (if any) and interest when and as the same will become due and payable under or in respect of the trust indenture under which such securities are issued, (ii) all present and future senior preferred shares of Brookfield Renewable Power Preferred Equity Inc. (“BRP Equity”) as to the payment of dividends when due, the payment of amounts due on redemption and the payment of amounts due on the liquidation, dissolution or winding up of BRP Equity, (iii) certain of BEP’s preferred units, as to payment of distributions when due, the payment of amounts due on redemption and the payment of amounts due on the liquidation, dissolution or winding up of BEP, (iv) the obligations of all present and future bilateral credit facilities established for the benefit of Brookfield Renewable, and (v) notes issued by Brookfield

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
Related party transactions [abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The company’s related party transactions are recorded at the exchange amount. The company’s related party transactions are primarily with the partnership and Brookfield. Brookfield has provided a $400 million committed unsecured revolving credit facility maturing in December 2022 and the draws bear interest at LIBOR plus 1.8%. During the current period, there were no draws on the committed unsecured revolving credit facility provided by Brookfield. Brookfield may from time to time place funds on deposit with the company which are repayable on demand including any interest accrued. There were nil funds placed on deposit with the company as at June 30, 2022 (December 31, 2021: nil). The interest expense on the Brookfield revolving credit facility and deposit for the three and six months ended June 30, 2022 totaled nil and less than $1 million (2021: nil and $1 million, respectively). From time to time, Brookfield Asset Management Reinsurance Partners L.P. (“Brookfield Reinsurance”), an associate of the company, may take part in financings of the company, alongside other market participants. Such financings are non-recourse to the company and are recorded within Non-recourse borrowings on the consolidated statements of financial position. As at June 30, 2022, $15 million of non-recourse borrowings is due to Brookfield Reinsurance (2021: nil). Other Amendments During the year, a subsidiary of the company transferred its power agency agreements related to certain of the partnership’s Canadian assets to Evolugen Trading and Marketing LP (“ETMLP”), a subsidiary of the partnership. The following table reflects the related party agreements and transactions for the three and six months ended June 30 in the interim consolidated statements of income: Three months ended June 30 Six months ended June 30 (MILLIONS) 2022 2021 2022 2021 Revenues Power purchase and revenue agreements $ 20 $ 35 $ 59 $ 108 Other income Interest income $ 3 $ — $ 5 $ — Direct operating costs Energy purchases (1) $ (8) $ (9) $ (12) $ (13) Energy marketing fee & other services (2) (3) (7) (4) Insurance services (2) — (4) — (9) $ (10) $ (16) $ (19) $ (26) Interest expense Borrowings $ (6) $ (12) $ (10) $ (12) Other related party services $ (1) $ (1) $ (2) $ (2) Management service agreement $ (43) $ (47) $ (95) $ (102) (1) Certain subsidiaries that the company controls, through a voting agreement, have entered into agreements to appoint the partnership as their agent in entering into certain derivative transactions with external counterparties to hedge against fluctuations in power purchase prices. For the three and six months ended June 30, 2021, the company recognized nil and $62 million gains, respectively associated with agency arrangement which have been excluded from energy purchases. As of April 1, 2021, the agency arrangements were transferred from the partnership to the company. (2) Prior to November 2021, insurance services were paid to external insurance service providers through subsidiaries of Brookfield Asset Management. The fees paid to the subsidiaries of Brookfield Asset Management in 2021 were nil. As of November 2021, Brookfield, through a regulated subsidiary, began providing reinsurance coverage to third-party commercial insurers for the benefits of certain of the company’s entities in North America. The premiums and claims paid are not included in the table above.

BASIS OF PREPARATION AND SIGN_2

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES [ABSTRACT]
Statement of compliance	Statement of compliance The interim consolidated financial statements have been prepared in accordance with IAS 34, Interim Financial Reporting. Certain information and footnote disclosures normally included in the annual audited consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”), have been omitted or condensed. These interim consolidated financial statements should be read in conjunction with the company’s December 31, 2021 audited consolidated financial statements. The interim consolidated statements have been prepared on a basis consistent with the accounting policies disclosed in the December 31, 2021 audited consolidated financial statements. The interim consolidated financial statements are unaudited and reflect adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to provide a fair statement of results for the interim periods in accordance with IFRS. The results reported in these interim consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for an entire year. The policies set out below are consistently applied to all periods presented, unless otherwise noted. These interim financial statements were authorized for issuance by the Board of Directors of the company and authorized of issue on August 5, 2022. Certain comparative figures have been reclassified to conform to the current year’s presentation. References to $, €, R$, and COP are to United States (“U.S.”) dollars, Euros, Brazilian reais, and Colombian pesos, respectively. All figures are presented in millions of U.S. dollars unless otherwise noted.
Basis of presentation	Basis of presentationThe interim consolidated financial statements have been prepared on the basis of historical cost, except for the revaluation of property, plant and equipment and certain assets and liabilities which have been measured at fair value. Cost is recorded based on the fair value of the consideration given in exchange for assets.
Consolidation	ConsolidationThese interim consolidated financial statements include the accounts of the company and its subsidiaries, which are the entities over which the company has control. An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Non-controlling interests in the equity of the company’s subsidiaries are shown separately in equity in the interim consolidated statements of financial position.
Recently adopted accounting standards	Recently adopted accounting standards Amendments to IFRS 3 Business Combinations - Reference to the Conceptual Framework The amendments add an exception to the recognition principle of IFRS 3 to avoid the issue of potential ‘day 2’ gains or losses arising for liabilities and contingent liabilities that would be within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets or IFRIC 21 Levies, if incurred separately. The exception requires entities to apply the criteria in IAS 37 or IFRIC 21, respectively, instead of the Conceptual Framework, to determine whether a present obligation exists at the acquisition date. At the same time, the amendments add a new paragraph to IFRS 3 to clarify that contingent assets do not qualify for recognition at the acquisition date. The amendments to IFRS 3 apply to annual reporting periods beginning on or after January 1, 2022. The company has completed an assessment and implemented its transition plan to address the impact and effect changes as a result of amendments to the recognition principle of IFRS 3. The adoption did not have a significant impact on the company’s financial reporting. (e) Future changes in accounting policies Amendments to IAS 1 – Presentation of Financial Statements (“IAS 1”) The amendments clarify how to classify debt and other liabilities as current or non-current. The amendments to IAS 1 apply to annual reporting periods beginning on or after January 1, 2023. The company is currently assessing the impact of these amendments. IFRS Interpretation Committee Agenda Decision - Demand Deposits with Restriction on Use Arising from a Contract with a Third Party (IAS 7 Statement of Cash Flow) In April 2022, the IFRS Interpretation Committee (“IFRS IC”) concluded that restrictions on the use of a demand deposit arising from a contract with a third party do not result in the deposit no longer being cash, unless those restrictions change the nature of the deposit in a way that it would no longer meet the definition of cash in IAS 7 Statement of Cash Flow. In the fact pattern described in the request, the contractual restrictions on the use of the amounts held in the demand deposit did not change the nature of the deposit — the entity can access those amounts on demand. Therefore, the entity should include the demand deposit as a component of “cash and cash equivalents” in its statement of financial position and in its statement of cash flows. The company is currently assessing the impact of this IFRS IC agenda decision. There are currently no other future changes to IFRS with potential impact on the company.

DISPOSAL OF ASSETS (Tables)

DISPOSAL OF ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure Of Disposal Of Assets [Abstract]
Summary of disposals	Summarized financial information relating to the disposal of the Brazil Hydroelectric Portfolio is shown below: (MILLIONS) Total Proceeds, net of transaction costs $ 90 Carrying value of net assets held for sale Assets 90 Liabilities — 90 Loss on disposal, net of transaction costs $ —

RISK MANAGEMENT AND FINANCIAL_2

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS [Abstract]
Assets and liabilities measured and disclosed at fair value	The following table presents the company's assets and liabilities measured and disclosed at fair value classified by the fair value hierarchy: June 30, 2022 December 31, 2021 (MILLIONS) Level 1 Level 2 Level 3 Total Total Assets measured at fair value: Cash and cash equivalents $ 571 $ — $ — $ 571 $ 410 Restricted cash (1) 302 — — 302 197 Financial instrument assets (1) Energy derivative contracts — 29 2 31 45 Interest rate swaps — 175 — 175 40 Foreign exchange swaps — 20 — 20 31 Investments in debt and equity securities — — 2 2 — Property, plant and equipment — — 37,258 37,258 37,915 Liabilities measured at fair value: Financial instrument liabilities (1) Energy derivative contracts — (295) (155) (450) (206) Interest rate swaps — (26) — (26) (103) Foreign exchange swaps — (2) — (2) (6) Tax equity — — (383) (383) (455) Liabilities for which fair value is disclosed: BEPC exchangeable and class B shares (2) (5,993) — — (5,993) (6,163) Non-recourse borrowing (1) (1,725) (12,052) — (13,777) (14,397) Total $ (6,845) $ (12,151) $ 36,724 $ 17,728 $ 17,308 (1) Includes both the current amount and long-term amounts (2) BEPC class C shares are also classified as financial liabilities due to their cash redemption feature. As discussed in Note 9 –BEPC Exchangeable shares, BEPC Class B shares and BEPC Class C shares, the BEPC class C shares meet certain qualifying criteria and are presented as equity.
Disclosure of offsetting of financial assets and financial liabilities	The aggregate amount of our company's net financial instrument positions are as follows: June 30, 2022 December 31, 2021 (MILLIONS) Assets Liabilities Net Assets Net Assets Energy derivative contracts $ 31 $ 450 $ (419) $ (161) Interest rate swaps 175 26 149 (63) Foreign exchange swaps 20 2 18 25 Investments in debt and equity securities 2 — 2 — Tax equity — 383 (383) (455) Total 228 861 (633) (654) Less: current portion 79 353 (274) (189) Long-term portion $ 149 $ 508 $ (359) $ (465)
Unrealized gains (losses) included in foreign exchange and unrealized financial instrument loss	The following table reflects the gains (losses) included in foreign exchange and financial instrument (loss) gain in the interim consolidated statements of income for the three and six months ended June 30: Three months ended June 30 Six months ended June 30 (MILLIONS) 2022 2021 2022 2021 Energy derivative contracts $ (37) $ (44) $ (124) $ (63) Interest rate swaps (2) 8 20 33 Foreign exchange swaps 27 3 35 48 Tax equity 32 2 62 16 Foreign exchange gain (loss) (17) 13 (23) (18) $ 3 $ (18) $ (30) $ 16
Unrealized gains (losses) included in other comprehensive income	The following table reflects the gains (losses) included in other comprehensive income (loss) in the interim consolidated statements of comprehensive income (loss) for the three and six months ended June 30: Three months ended June 30 Six months ended June 30 (MILLIONS) 2022 2021 2022 2021 Energy derivative contracts $ (75) $ (71) $ (224) $ (23) Interest rate swaps 79 (3) 179 37 Foreign exchange swaps 9 (9) (1) (2) 13 (83) (46) 12 Foreign exchange swaps - net investment 58 5 15 26 $ 71 $ (78) $ (31) $ 38
Reclassification adjustments recognized in net income	The following table reflects the reclassification adjustments recognized in net income in the interim consolidated statements of comprehensive income (loss) for the three and six months ended June 30: Three months ended June 30 Six months ended June 30 (MILLIONS) 2022 2021 2022 2021 Energy derivative contracts $ 35 $ (1) $ 88 $ (63) Interest rate swaps — 1 2 3 $ 35 $ — $ 90 $ (60)

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure of operating segments [abstract]
Summary of adjusted EBITDA and funds from operations	The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles the company's proportionate results to the consolidated statements of income on a line by line basis by aggregating the components comprising the earnings from the company's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the three months ended June 30, 2022: Attributable to the partnership Contribution from equity-accounted investments Attributable As per financials (1) (MILLIONS) Hydroelectric Wind Solar Distributed energy & sustainable solutions Corporate Total Revenues $ 307 $ 43 $ 51 $ 37 $ — $ 438 $ (12) $ 571 $ 997 Other income 4 3 9 — — 16 — (10) 6 Direct operating costs (109) (13) (11) (16) (2) (151) 7 (152) (296) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — 5 — 5 202 33 49 21 (2) 303 — 409 Management service costs — — — — (38) (38) — (5) (43) Interest expense (1) (46) (7) (14) (4) (4) (75) 1 (126) (200) Current income taxes (9) (1) 1 — — (9) — (20) (29) Share of interest and cash taxes from equity-accounted investments — — — — — — (1) — (1) Share of Funds From Operations attributable to non-controlling interests — — — — — — — (258) (258) Funds From Operations 147 25 36 17 (44) 181 — — Depreciation (127) 3 (162) (286) Foreign exchange and financial instrument gain (loss) (14) — 17 3 Deferred income tax expense (11) — (30) (41) Other (8) — 8 — Dividends on BEPC exchangeable shares (1) (55) — — (55) Remeasurement of BEPC exchangeable and BEPC class B shares 1,080 — — 1,080 Share of earnings from equity-accounted investments — (3) — (3) Net income attributable to non-controlling interests — — 167 167 Net income attributable to the partnership $ 1,046 $ — $ — $ 1,046 (1) Share of earnings from equity-accounted investments of $1 million is comprised of amounts found on the Share of revenue, other income and direct operating costs, Share of interest and cash taxes and Share of earnings lines. Net income attributable to participating non-controlling interests of $91 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests. Total interest expense of $255 million is comprised of amounts on Interest expense and Dividends on BEPC exchangeable shares. The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles the company's proportionate results to the consolidated statements of income on a line by line basis by aggregating the components comprising the earnings from the company's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the three months ended June 30, 2021: Attributable to the partnership Contribution from equity-accounted investments Attributable As per financials (1) (MILLIONS) Hydroelectric Wind Solar Distributed energy & sustainable solutions Corporate Total Revenues $ 243 $ 47 $ 49 $ 34 $ — $ 373 $ (9) $ 453 $ 817 Other income 10 — 1 — — 11 — (6) 5 Direct operating costs (96) (8) (12) (12) — (128) 4 (125) (249) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — 5 — 5 157 39 38 22 — 256 — 322 Management service costs — — — — (47) (47) — — (47) Interest expense (1) (31) (10) (13) (5) (4) (63) 2 (107) (168) Current income taxes (5) (2) — — — (7) — (11) (18) Share of interest and cash taxes from equity-accounted investments — — — — — — (2) — (2) Share of Funds From Operations attributable to non-controlling interests — — — — — — — (204) (204) Funds From Operations 121 27 25 17 (51) 139 — — Depreciation (122) 3 (156) (275) Foreign exchange and financial instrument gain (loss) (25) 1 6 (18) Deferred income tax recovery (expense) 8 — (6) 2 Other (31) — — (31) Dividends on BEPC exchangeable shares (1) (52) — — (52) Remeasurement of BEPC exchangeable and BEPC class B shares 694 — — 694 Share of earnings from equity-accounted investments — (4) — (4) Net income attributable to non-controlling interests — — 156 156 Net income attributable to the partnership $ 611 $ — $ — $ 611 (1) Share of earnings from equity-accounted investments of $1 million is comprised of amounts found on the Share of revenue, other income and direct operating costs, Share of interest and cash taxes and Share of earnings lines. Net loss attributable to participating non-controlling interests of $48 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests. Total interest expense of $220 million is comprised of amounts on Interest expense and Dividends on BEPC exchangeable shares. The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles the company's proportionate results to the consolidated statements of income on a line by line basis by aggregating the components comprising the earnings from the company's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the six months ended June 30, 2022: Attributable to the partnership Contribution from equity-accounted investments Attributable As per financials (1) (MILLIONS) Hydroelectric Wind Solar Distributed energy & sustainable solutions Corporate Total Revenues 573 95 90 67 — 825 (25) 1,126 1,926 Other income 24 5 21 7 — 57 — 13 70 Direct operating costs (216) (27) (24) (33) (2) (302) 15 (300) (587) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — 10 — 10 381 73 87 41 (2) 580 — 839 Management service costs — — — — (90) (90) — (5) (95) Interest expense (1) (84) (14) (25) (9) (4) (136) 3 (240) (373) Current income taxes (19) (1) — — — (20) — (47) (67) Share of interest and cash taxes from equity-accounted investments — — — — — — (3) — (3) Share of Funds From Operations attributable to non-controlling interests — — — — — — — (547) (547) Funds From Operations 278 58 62 32 (96) 334 — — Depreciation (259) 6 (329) (582) Foreign exchange and financial instrument gain (loss) (37) 2 5 (30) Deferred income tax recovery (expense) 5 — (46) (41) Other (34) — 8 (26) Dividends on BEPC exchangeable shares (1) (110) — — (110) Remeasurement of BEPC exchangeable and BEPC class B shares 171 — — 171 Share of earnings from equity-accounted investments — (8) — (8) Net income attributable to non-controlling interests — — 362 362 Net income attributable to the partnership 70 — — 70 (1) Share of earnings from equity-accounted investments of $1 million is comprised of amounts found on the Share of revenue, other income and direct operating costs, Share of interest and cash taxes and Share of earnings lines. Net loss attributable to participating non-controlling interests of $185 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests. Total interest expense of $483 million is comprised of amounts on Interest expense and Dividends on BEPC exchangeable shares. The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles the company's proportionate results to the consolidated statements of income on a line by line basis by aggregating the components comprising the earnings from the company's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the six months ended June 30, 2021: Attributable to the partnership Contribution from equity-accounted investments Attributable As per financials (1) (MILLIONS) Hydroelectric Wind Solar Distributed energy & sustainable solutions Corporate Total Revenues 478 113 86 65 — 742 (22) 936 1,656 Other income 17 4 3 — — 24 — (5) 19 Direct operating costs (179) (33) (24) (23) — (259) 9 (337) (587) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — 13 — 13 316 84 65 42 — 507 — 594 Management service costs — — — — (102) (102) — — (102) Interest expense (1) (67) (20) (27) (10) (4) (128) 4 (212) (336) Current income taxes (10) (2) — — — (12) — (19) (31) Share of interest and cash taxes from equity-accounted investments — — — — — — (4) — (4) Share of Funds From Operations attributable to non-controlling interests — — — — — — — (363) (363) Funds From Operations 239 62 38 32 (106) 265 — — Depreciation (248) 6 (323) (565) Foreign exchange and financial instrument gain (loss) (27) 2 41 16 Deferred income tax recovery (expense) 21 — (2) 19 Other (93) — (84) (177) Dividends on BEPC exchangeable shares (1) (104) — — (104) Remeasurement of BEPC exchangeable and BEPC class B shares 788 — — 788 Share of earnings from equity-accounted investments — (8) — (8) Net income attributable to non-controlling interests — — 368 368 Net income attributable to the partnership 602 — — 602 (1) Share of earnings from equity-accounted investments of $1 million is comprised of amounts found on the Share of revenue, other income and direct operating costs, Share of interest and cash taxes and Share of earnings lines. Net loss attributable to participating non-controlling interests of $5 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests. Total interest expense of $440 million is comprised of amounts on Interest expense and Dividends on BEPC exchangeable shares.
Summary of segmented basis about certain items in statement of financial position	The following table presents information on a segmented basis about certain items in our company's statements of financial position and reconciles the company's proportionate results to the consolidated statements of financial position by aggregating the components comprising the company's investments in associates and reflecting the portion of each line item attributable to non-controlling interests: Attributable to the partnership Contribution Attributable As per (MILLIONS) Hydroelectric Wind Solar Distributed energy & sustainable solutions Corporate Total As at June 30, 2022 Cash and cash equivalents $ 62 $ 60 $ 48 $ 11 $ — $ 181 $ (1) $ 391 571 Property, plant and equipment, at fair value 13,501 1,458 1,568 1,212 — 17,739 (610) 20,129 37,258 Total assets 15,181 1,723 1,732 1,268 14 19,918 (175) 22,026 41,769 Total borrowings 2,803 723 1,265 485 — 5,276 (163) 8,843 13,956 Other liabilities 4,147 433 170 18 6,063 10,831 (12) 3,166 13,985 For the six months ended June 30, 2022: Additions to property, plant and equipment 61 20 63 10 — 154 (7) 309 456 As at December 31, 2021 Cash and cash equivalents $ 41 $ 35 $ 43 $ 13 $ 4 $ 136 $ (2) $ 276 410 Property, plant and equipment, at fair value 13,577 1,478 1,585 1,232 — 17,872 (604) 20,647 37,915 Total assets 15,108 1,700 1,731 1,279 17 19,835 (176) 22,327 41,986 Total borrowings 2,720 765 1,377 461 — 5,323 (161) 8,350 13,512 Other liabilities 4,051 379 119 66 6,231 10,846 (15) 3,418 14,249 For the six months ended June 30, 2021: Additions to property, plant and equipment 92 25 41 4 — 162 (5) 300 457
Disclosure of additional information	The following table presents consolidated revenue split by technology for the three and six months ended June 30: Three months ended June 30 Six months ended June 30 (MILLIONS) 2022 2021 2022 2021 Hydroelectric $ 608 $ 463 $ 1,177 $ 941 Wind 157 144 340 346 Solar 166 144 294 252 Distributed energy & sustainable solutions 66 66 115 117 Total $ 997 $ 817 $ 1,926 $ 1,656 The following table presents consolidated property, plant and equipment and equity-accounted investments split by geographical region: (MILLIONS) June 30, 2022 December 31, 2021 North America $ 22,510 $ 22,634 Colombia 8,170 8,497 Brazil 3,664 3,299 Europe 3,368 3,940 $ 37,712 $ 38,370

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure of detailed information about property, plant and equipment [abstract]
Reconciliation of property, plant and equipment	The following table presents a reconciliation of property, plant and equipment at fair value: (MILLIONS) Hydroelectric Wind Solar Other (1) Total (2) Property, plant and equipment, at fair value As at December 31, 2021 $ 25,496 $ 4,998 $ 6,457 $ 188 $ 37,139 Additions 8 (52) 2 — (42) Transfer from construction work-in-progress 95 1 — 1 97 Disposals (97) — — — (97) Items recognized through OCI: Change in fair value (2) — — — (2) Foreign exchange (171) (85) (201) 6 (451) Items recognized through net income: Depreciation (253) (153) (159) (17) (582) As at June 30, 2022 $ 25,076 $ 4,709 $ 6,099 $ 178 $ 36,062 Construction work-in-progress As at December 31, 2021 $ 224 $ 114 $ 433 $ 5 $ 776 Additions 61 144 289 4 498 Transfer to property, plant and equipment (95) (1) — (1) (97) Items recognized through OCI: Foreign exchange 9 (5) 15 — 19 As at June 30, 2022 $ 199 $ 252 $ 737 $ 8 $ 1,196 Total property, plant and equipment, at fair value As at December 31, 2021 (2) $ 25,720 $ 5,112 $ 6,890 $ 193 $ 37,915 As at June 30, 2022 (2) $ 25,275 $ 4,961 $ 6,836 $ 186 $ 37,258 (1) Includes cogeneration and biomass. (2) Includes right-of-use assets not subject to revaluation of $49 million ( 2021 : $52 million) in our hydroelectric segment, $127 million ( 2021 : $130 million) in our wind segment, $148 million ( 2021 : $157 million) in our solar segment , and $2 million ( 2021 : $2 million) in other.

BORROWINGS (Tables)

BORROWINGS (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure of detailed information about borrowings [abstract]
Summary of borrowings	The composition of non-recourse borrowings is presented in the following table: June 30, 2022 December 31, 2021 Weighted-average Weighted-average (MILLIONS EXCEPT AS NOTED) Interest Term (years) (3) Carrying Estimated Interest Term Carrying Estimated Non-recourse borrowings (1)(2) Hydroelectric 6.3 8 $ 6,812 $ 6,683 5.1 7 $ 6,160 $ 6,543 Wind 4.4 9 2,417 2,300 3.7 9 2,416 2,577 Solar 5.1 13 3,938 4,006 4.1 13 4,110 4,365 Distributed energy & sustainable solutions 4.2 12 836 788 3.9 12 860 912 Total 5.5 10 $ 14,003 $ 13,777 4.5 9 $ 13,546 $ 14,397 Add: Unamortized premiums (4) 37 57 Less: Unamortized financing fees (4) (84) (91) Less: Current portion (1,375) (1,452) $ 12,581 $ 12,060 (1) Includes $9 million (2021: $8 million) borrowed under a subscription facility of a Brookfield sponsored private fund. (2) Includes $15 million (2021: nil) outstanding to an associate of Brookfield. Refer to Note 16 - Related party transactions for more details. (3) Excluding credit facilities total weighted-average term is 9 years. (4) Unamortized premiums and unamortized financing fees are amortized over the terms of the borrowing.

NON-CONTROLLING INTERESTS (Tabl

NON-CONTROLLING INTERESTS (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure Of Detailed Information About Non-controlling Interests [Abstract]
Summary of non-controlling interests	The company`s non-controlling interests are comprised of the following: (MILLIONS) June 30, 2022 December 31, 2021 Non-controlling interests Participating non-controlling interests – in operating subsidiaries $ 9,755 $ 10,297 Participating non-controlling interests – in a holding subsidiary held by the partnership 261 261 $ 10,016 $ 10,558 The net change in participating non-controlling interests – in operating subsidiaries is as follows: (MILLIONS) Brookfield Americas Infrastructure Fund Brookfield Infrastructure Fund II Brookfield Infrastructure Fund III Brookfield Infrastructure Fund IV Isagen institutional investors Isagen public non-controlling interests The Catalyst Group TerraForm Power Other Total As at December 31, 2021 $ 686 $ 2,251 $ 3,186 $ 261 $ 2,442 $ 13 $ 132 $ 853 $ 473 $ 10,297 Net income (loss) — (36) 67 (1) 106 1 12 22 9 180 Other comprehensive income (loss) (7) 5 (15) 10 (66) — — 18 (48) (103) Capital contributions — 4 — 186 — — — — 6 196 Dividends declared (21) (39) (251) — (424) (1) (5) (46) (11) (798) Other (1) — 2 2 (1) (4) (1) (1) 3 (17) (17) As at June 30, 2022 $ 658 $ 2,187 $ 2,989 $ 455 $ 2,054 $ 12 $ 138 $ 850 $ 412 $ 9,755 Interests held by third parties 75% - 78% 43% - 60% 23% - 71% 75 % 53 % 0.3 % 25 % 33 % 0.3% - 30% (1) During the year, the company issued additional shares to a partly-owned subsidiary of Brookfield Renewable. Refer to Note 15 – Commitments, contingencies and guarantees in the unaudited interim consolidated financial statements for further details.

BEPC EXCHAGEABLE SHARES, BEPC_2

BEPC EXCHAGEABLE SHARES, BEPC CLASS B SHARES AND BEPC CLASS C SHARES (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure Of Share Capital, Reserves And Other Equity Interest [Abstract]
Schedule of outstanding shares	The following table provides a continuity schedule of outstanding BEPC exchangeable and class B shares along with the corresponding liability and remeasurement gains and losses. BEPC exchangeable shares outstanding (units) BEPC class B shares outstanding (units) BEPC exchangeable and BEPC class B shares ($ million) Balance, as at December 31, 2021 172,203,342 165 $ 6,163 Share issuance 27,064 — 1 Share exchanges (8,084) — — Remeasurement of liability — — (171) Balance, as at June 30, 2022 172,222,322 165 $ 5,993

EQUITY-ACCOUNTED INVESTMENTS (T

EQUITY-ACCOUNTED INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure Of Detailed Information About Equity-Accounted Investments [Abstract]
Summary of Equity-Accounted Investments	The following are the company’s equity-accounted investments for the six months ended June 30, 2022: (MILLIONS) June 30, 2022 Opening balance $ 455 Share of net loss (1) Share of other comprehensive income 1 Dividends received (2) Foreign exchange translation and other 1 Ending balance $ 454

CASH AND CASH EQUIVALENTS (Tabl

CASH AND CASH EQUIVALENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure Of Detailed Information About Cash And Cash Equivalents [Abstract]
Summary of Cash and Cash Equivalents	The company’s cash and cash equivalents are as follows: (MILLIONS) June 30, 2022 December 31, 2021 Cash $ 567 $ 405 Short-term deposits 4 5 $ 571 $ 410

RESTRICTED CASH (Tables)

RESTRICTED CASH (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure Of Detailed Information About Restricted Cash [Abstract]
Summary of Restricted Cash	The company’s restricted cash is as follows: (MILLIONS) June 30, 2022 December 31, 2021 Operations $ 82 $ 80 Credit obligations 74 67 Development projects 146 50 Total 302 197 Less: non-current (51) (51) Current $ 251 $ 146

TRADE RECEIVABLES AND OTHER C_2

TRADE RECEIVABLES AND OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure Trade Receivables and Other Current Assets [Abstract]
Summary of Trade Receivables and Other Current Assets	The company's trade receivables and other current assets are as follows: (MILLIONS) June 30, 2022 December 31, 2021 Trade receivables $ 457 $ 502 Collateral deposits (1) 733 434 Prepaids and other 71 83 Income tax receivables 10 30 Inventory 21 20 Other short-term receivables 87 77 $ 1,379 $ 1,146 (1) Collateral deposits are related to energy derivative contracts the company enters into in order to mitigate the exposure to wholesale market electricity prices on the future sale of uncontracted generation, as part of the company's risk management strategy.

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure Accounts Payable and Accured Liabilities [Abstract]
Summary of Accounts Payable and Accrued Liabilities	The company's accounts payable and accrued liabilities are as follows: (MILLIONS) June 30, 2022 December 31, 2021 Operating accrued liabilities $ 196 $ 195 Accounts payable 108 118 Interest payable on borrowings 82 71 BEPC exchangeable shares distributions payable (1) 14 16 Current portion of lease liabilities 23 25 Other 50 27 $ 473 $ 452 (1) Includes amounts payable only to external shareholders. Amounts payable to Brookfield and the partnership are included in due to related parties.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2022
Related party transactions [abstract]
Schedule of related party agreements and transactions	The following table reflects the related party agreements and transactions for the three and six months ended June 30 in the interim consolidated statements of income: Three months ended June 30 Six months ended June 30 (MILLIONS) 2022 2021 2022 2021 Revenues Power purchase and revenue agreements $ 20 $ 35 $ 59 $ 108 Other income Interest income $ 3 $ — $ 5 $ — Direct operating costs Energy purchases (1) $ (8) $ (9) $ (12) $ (13) Energy marketing fee & other services (2) (3) (7) (4) Insurance services (2) — (4) — (9) $ (10) $ (16) $ (19) $ (26) Interest expense Borrowings $ (6) $ (12) $ (10) $ (12) Other related party services $ (1) $ (1) $ (2) $ (2) Management service agreement $ (43) $ (47) $ (95) $ (102) (1) Certain subsidiaries that the company controls, through a voting agreement, have entered into agreements to appoint the partnership as their agent in entering into certain derivative transactions with external counterparties to hedge against fluctuations in power purchase prices. For the three and six months ended June 30, 2021, the company recognized nil and $62 million gains, respectively associated with agency arrangement which have been excluded from energy purchases. As of April 1, 2021, the agency arrangements were transferred from the partnership to the company. (2) Prior to November 2021, insurance services were paid to external insurance service providers through subsidiaries of Brookfield Asset Management. The fees paid to the subsidiaries of Brookfield Asset Management in 2021 were nil. As of November 2021, Brookfield, through a regulated subsidiary, began providing reinsurance coverage to third-party commercial insurers for the benefits of certain of the company’s entities in North America. The premiums and claims paid are not included in the table above.

DISPOSAL OF ASSETS - Narrative

DISPOSAL OF ASSETS - Narrative (Details) - 1 months ended Jun. 30, 2022 R$ in Millions, $ in Millions	BRL (R$) MW	USD ($) MW
Disclosure of detailed information about investment property [line items]
Proceeds		$ 90
36 MW Brazil Hydroelectric Portfolio
Disclosure of detailed information about investment property [line items]
Ownership interest	100%	100%
Hydro power capacity | MW	36	36
Proceeds		$ 23
Proportion of economic interest	23%	23%
Accumulated revaluation surplus post-tax		$ 27
36 MW Brazil Hydroelectric Portfolio | Brookfield Renewable and Institutional Partners
Disclosure of detailed information about investment property [line items]
Proceeds	R$ 461	$ 90

DISPOSAL OF ASSETS - Summary of

DISPOSAL OF ASSETS - Summary of disposals (Details) $ in Millions	1 Months Ended
	Jun. 30, 2022 USD ($)
Disclosure Of Disposal Of Assets [Abstract]
Proceeds, net of transaction costs	$ 90
Carrying value of net assets held for sale
Assets	90
Liabilities	0
Carrying value of net assets held for sale	90
Loss on disposal, net of transaction costs	$ 0

RISK MANAGEMENT AND FINANCIAL_3

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Assets and Liabilities Measured and Disclosed at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Disclosure of financial assets and liabilities [line items]
Cash and cash equivalents	$ 571	$ 558	$ 410	$ 396	$ 298	$ 355
Restricted cash	302		197
Investments in debt and equity securities	2		0
Property, plant and equipment, at fair value	37,258		37,915
Tax equity	(383)		(455)
Total	17,728		17,308
BEPC exchangeable and class B shares
Disclosure of financial assets and liabilities [line items]
Liabilities for which fair value is disclosed:	(5,993)		(6,163)
Non-recourse borrowings
Disclosure of financial assets and liabilities [line items]
Liabilities for which fair value is disclosed:	(13,777)		(14,397)
Energy derivative contracts
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	31		45
Financial instrument liabilities	(450)		(206)
Interest rate swaps
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	175		40
Financial instrument liabilities	(26)		(103)
Foreign exchange swaps
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	20		31
Financial instrument liabilities	(2)		$ (6)
Level 1
Disclosure of financial assets and liabilities [line items]
Cash and cash equivalents	571
Restricted cash	302
Investments in debt and equity securities	0
Property, plant and equipment, at fair value	0
Tax equity	0
Total	(6,845)
Level 1 | BEPC exchangeable and class B shares
Disclosure of financial assets and liabilities [line items]
Liabilities for which fair value is disclosed:	(5,993)
Level 1 | Non-recourse borrowings
Disclosure of financial assets and liabilities [line items]
Liabilities for which fair value is disclosed:	(1,725)
Level 1 | Energy derivative contracts
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	0
Financial instrument liabilities	0
Level 1 | Interest rate swaps
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	0
Financial instrument liabilities	0
Level 1 | Foreign exchange swaps
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	0
Financial instrument liabilities	0
Level 2
Disclosure of financial assets and liabilities [line items]
Cash and cash equivalents	0
Restricted cash	0
Investments in debt and equity securities	0
Property, plant and equipment, at fair value	0
Tax equity	0
Total	(12,151)
Level 2 | BEPC exchangeable and class B shares
Disclosure of financial assets and liabilities [line items]
Liabilities for which fair value is disclosed:	0
Level 2 | Non-recourse borrowings
Disclosure of financial assets and liabilities [line items]
Liabilities for which fair value is disclosed:	(12,052)
Level 2 | Energy derivative contracts
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	29
Financial instrument liabilities	(295)
Level 2 | Interest rate swaps
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	175
Financial instrument liabilities	(26)
Level 2 | Foreign exchange swaps
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	20
Financial instrument liabilities	(2)
Level 3
Disclosure of financial assets and liabilities [line items]
Cash and cash equivalents	0
Restricted cash	0
Investments in debt and equity securities	2
Property, plant and equipment, at fair value	37,258
Tax equity	(383)
Total	36,724
Level 3 | BEPC exchangeable and class B shares
Disclosure of financial assets and liabilities [line items]
Liabilities for which fair value is disclosed:	0
Level 3 | Non-recourse borrowings
Disclosure of financial assets and liabilities [line items]
Liabilities for which fair value is disclosed:	0
Level 3 | Energy derivative contracts
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	2
Financial instrument liabilities	(155)
Level 3 | Interest rate swaps
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	0
Financial instrument liabilities	0
Level 3 | Foreign exchange swaps
Disclosure of financial assets and liabilities [line items]
Financial instrument assets	0
Financial instrument liabilities	$ 0

RISK MANAGEMENT AND FINANCIAL_4

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Aggregate Amount of Net Financial Instrument Positions (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Assets
Disclosure of derivative assets liabilities net position [Line Items]
Total	$ 228
Less: current portion	79
Long-term portion	149
Liabilities
Disclosure of derivative assets liabilities net position [Line Items]
Total	861
Less: current portion	353
Long-term portion	508
Net Assets (Liabilities)
Disclosure of derivative assets liabilities net position [Line Items]
Total	(633)	$ (654)
Less: current portion	(274)	(189)
Long-term portion	(359)	(465)
Energy derivative contracts | Assets
Disclosure of derivative assets liabilities net position [Line Items]
Total	31
Energy derivative contracts | Liabilities
Disclosure of derivative assets liabilities net position [Line Items]
Total	450
Energy derivative contracts | Net Assets (Liabilities)
Disclosure of derivative assets liabilities net position [Line Items]
Total	(419)	(161)
Interest rate swaps | Assets
Disclosure of derivative assets liabilities net position [Line Items]
Total	175
Interest rate swaps | Liabilities
Disclosure of derivative assets liabilities net position [Line Items]
Total	26
Interest rate swaps | Net Assets (Liabilities)
Disclosure of derivative assets liabilities net position [Line Items]
Total	149	(63)
Foreign exchange swaps | Assets
Disclosure of derivative assets liabilities net position [Line Items]
Total	20
Foreign exchange swaps | Liabilities
Disclosure of derivative assets liabilities net position [Line Items]
Total	2
Foreign exchange swaps | Net Assets (Liabilities)
Disclosure of derivative assets liabilities net position [Line Items]
Total	18	25
Investments in debt and equity securities | Assets
Disclosure of derivative assets liabilities net position [Line Items]
Total	2
Investments in debt and equity securities | Liabilities
Disclosure of derivative assets liabilities net position [Line Items]
Total	0
Investments in debt and equity securities | Net Assets (Liabilities)
Disclosure of derivative assets liabilities net position [Line Items]
Total	2	0
Tax equity | Assets
Disclosure of derivative assets liabilities net position [Line Items]
Total	0
Tax equity | Liabilities
Disclosure of derivative assets liabilities net position [Line Items]
Total	383
Tax equity | Net Assets (Liabilities)
Disclosure of derivative assets liabilities net position [Line Items]
Total	$ (383)	$ (455)

RISK MANAGEMENT AND FINANCIAL_5

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Unrealized Gains (Losses) Included in OCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Investment In Equity and Debt Securities [Line Items]
Unrealized gains (losses) included in foreign exchange and unrealized financial instrument gain (loss), net	$ 3	$ (18)	$ (30)	$ 16
Unrealized gains (losses) hedging instruments included in other comprehensive income	71	(78)	(31)	38
Reclassification adjustments recognized in net income	35	0	90	(60)
Energy derivative contracts
Investment In Equity and Debt Securities [Line Items]
Unrealized gains (losses) included in foreign exchange and unrealized financial instrument gain (loss), net	(37)	(44)	(124)	(63)
Unrealized gains (losses) hedging instruments included in other comprehensive income	(75)	(71)	(224)	(23)
Reclassification adjustments recognized in net income	35	(1)	88	(63)
Interest rate swaps
Investment In Equity and Debt Securities [Line Items]
Unrealized gains (losses) included in foreign exchange and unrealized financial instrument gain (loss), net	(2)	8	20	33
Unrealized gains (losses) hedging instruments included in other comprehensive income	79	(3)	179	37
Reclassification adjustments recognized in net income	0	1	2	3
Foreign exchange swaps
Investment In Equity and Debt Securities [Line Items]
Unrealized gains (losses) included in foreign exchange and unrealized financial instrument gain (loss), net	27	3	35	48
Unrealized gains (losses) hedging instruments included in other comprehensive income	9	(9)	(1)	(2)
Tax equity
Investment In Equity and Debt Securities [Line Items]
Unrealized gains (losses) included in foreign exchange and unrealized financial instrument gain (loss), net	32	2	62	16
Foreign exchange gain (loss)
Investment In Equity and Debt Securities [Line Items]
Unrealized gains (losses) included in foreign exchange and unrealized financial instrument gain (loss), net	(17)	13	(23)	(18)
Unrealized gains (losses) hedging instruments included in other comprehensive income	13	(83)	(46)	12
Foreign exchange swaps - net investment
Investment In Equity and Debt Securities [Line Items]
Unrealized gains (losses) included in other comprehensive income	$ 58	$ 5	$ 15	$ 26

SEGMENTED INFORMATION - Summary

SEGMENTED INFORMATION - Summary of Operating Results by Segment (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure of operating segments [line items]
Revenues		$ 997	$ 817	$ 1,926	$ 1,656
Other income		6	5	70	19
Direct operating costs	[1]	(296)	(249)	(587)	(587)
Share of revenue, other income and direct operating costs from equity-accounted investments		5	5	10	13
Management service costs		(43)	(47)	(95)	(102)
Interest expense		(200)	(168)	(373)	(336)
Current income taxes		(29)	(18)	(67)	(31)
Share of interest and cash taxes from equity-accounted investments		(1)	(2)	(3)	(4)
Share of Funds From Operations attributable to non-controlling interests		(258)	(204)	(547)	(363)
Depreciation		(286)	(275)	(582)	(565)
Foreign exchange and financial instrument gain (loss)		3	(18)	(30)	16
Deferred income tax recovery (expense)		(41)	2	(41)	19
Other		0	(31)	(26)	(177)
Dividends on class A exchangeable shares		(55)	(52)	(110)	(104)
Remeasurement of BEPC exchangeable and BEPC class B shares		1,080	694	171	788
Share of earnings from equity-accounted investments		(3)	(4)	(8)	(8)
Net income attributable to the partnership		167	156	362	368
Net income (loss) attributable to the partnership		1,046	611	70	602
Share earnings (loss) from equity-accounted investments		1	(1)	(1)	1
Net income (loss) attributable to participating non-controlling interests		91	(48)	(185)	(5)
Attributable to the partnership
Disclosure of operating segments [line items]
Revenues		438	373	825	742
Other income		16	11	57	24
Direct operating costs		(151)	(128)	(302)	(259)
Share of revenue, other income and direct operating costs from equity-accounted investments		0	0	0	0
Adjusted EBITDA		303	256	580	507
Management service costs		(38)	(47)	(90)	(102)
Interest expense		(75)	(63)	(136)	(128)
Current income taxes		(9)	(7)	(20)	(12)
Share of interest and cash taxes from equity-accounted investments		0	0	0	0
Share of Funds From Operations attributable to non-controlling interests		0	0	0	0
Funds From Operations		181	139	334	265
Depreciation		(127)	(122)	(259)	(248)
Foreign exchange and financial instrument gain (loss)		(14)	(25)	(37)	(27)
Deferred income tax recovery (expense)		(11)	8	5	21
Other		(8)	(31)	(34)	(93)
Dividends on class A exchangeable shares		(55)	(52)	(110)	(104)
Remeasurement of BEPC exchangeable and BEPC class B shares		1,080	694	171	788
Share of earnings from equity-accounted investments		0	0	0	0
Net income attributable to the partnership		0	0	0	0
Net income (loss) attributable to the partnership		1,046	611	70	602
Interest expense including dividends on class A exchangeable shares		255	220	483	440
Contribution from equity- accounted investments
Disclosure of operating segments [line items]
Revenues		(12)	(9)	(25)	(22)
Other income		0	0	0	0
Direct operating costs		7	4	15	9
Share of revenue, other income and direct operating costs from equity-accounted investments		5	5	10	13
Adjusted EBITDA		0	0	0	0
Management service costs		0	0	0	0
Interest expense		1	2	3	4
Current income taxes		0	0	0	0
Share of interest and cash taxes from equity-accounted investments		(1)	(2)	(3)	(4)
Share of Funds From Operations attributable to non-controlling interests		0	0	0	0
Funds From Operations		0	0	0	0
Depreciation		3	3	6	6
Foreign exchange and financial instrument gain (loss)		0	1	2	2
Deferred income tax recovery (expense)		0	0	0	0
Other		0	0	0	0
Dividends on class A exchangeable shares		0	0	0	0
Remeasurement of BEPC exchangeable and BEPC class B shares		0	0	0	0
Share of earnings from equity-accounted investments		(3)	(4)	(8)	(8)
Net income attributable to the partnership		0	0	0	0
Net income (loss) attributable to the partnership		0	0	0	0
Attributable to non- controlling interests
Disclosure of operating segments [line items]
Revenues		571	453	1,126	936
Other income		(10)	(6)	13	(5)
Direct operating costs		(152)	(125)	(300)	(337)
Share of revenue, other income and direct operating costs from equity-accounted investments		0	0	0	0
Adjusted EBITDA		409	322	839	594
Management service costs		(5)	0	(5)	0
Interest expense		(126)	(107)	(240)	(212)
Current income taxes		(20)	(11)	(47)	(19)
Share of interest and cash taxes from equity-accounted investments		0	0	0	0
Share of Funds From Operations attributable to non-controlling interests		(258)	(204)	(547)	(363)
Funds From Operations		0	0	0	0
Depreciation		(162)	(156)	(329)	(323)
Foreign exchange and financial instrument gain (loss)		17	6	5	41
Deferred income tax recovery (expense)		(30)	(6)	(46)	(2)
Other		8	0	8	(84)
Dividends on class A exchangeable shares		0	0	0	0
Remeasurement of BEPC exchangeable and BEPC class B shares		0	0	0	0
Share of earnings from equity-accounted investments		0	0	0	0
Net income attributable to the partnership		167	156	362	368
Net income (loss) attributable to the partnership		0	0	0	0
Hydroelectric
Disclosure of operating segments [line items]
Revenues		608	463	1,177	941
Hydroelectric | Attributable to the partnership
Disclosure of operating segments [line items]
Revenues		307	243	573	478
Other income		4	10	24	17
Direct operating costs		(109)	(96)	(216)	(179)
Share of revenue, other income and direct operating costs from equity-accounted investments		0	0	0	0
Adjusted EBITDA		202	157	381	316
Management service costs		0	0	0	0
Interest expense		(46)	(31)	(84)	(67)
Current income taxes		(9)	(5)	(19)	(10)
Share of interest and cash taxes from equity-accounted investments		0	0	0	0
Share of Funds From Operations attributable to non-controlling interests		0	0	0	0
Funds From Operations		147	121	278	239
Wind
Disclosure of operating segments [line items]
Revenues		157	144	340	346
Wind | Attributable to the partnership
Disclosure of operating segments [line items]
Revenues		43	47	95	113
Other income		3	0	5	4
Direct operating costs		(13)	(8)	(27)	(33)
Share of revenue, other income and direct operating costs from equity-accounted investments		0	0	0	0
Adjusted EBITDA		33	39	73	84
Management service costs		0	0	0	0
Interest expense		(7)	(10)	(14)	(20)
Current income taxes		(1)	(2)	(1)	(2)
Share of interest and cash taxes from equity-accounted investments		0	0	0	0
Share of Funds From Operations attributable to non-controlling interests		0	0	0	0
Funds From Operations		25	27	58	62
Solar
Disclosure of operating segments [line items]
Revenues		166	144	294	252
Solar | Attributable to the partnership
Disclosure of operating segments [line items]
Revenues		51	49	90	86
Other income		9	1	21	3
Direct operating costs		(11)	(12)	(24)	(24)
Share of revenue, other income and direct operating costs from equity-accounted investments		0	0	0	0
Adjusted EBITDA		49	38	87	65
Management service costs		0	0	0	0
Interest expense		(14)	(13)	(25)	(27)
Current income taxes		1	0	0	0
Share of interest and cash taxes from equity-accounted investments		0	0	0	0
Share of Funds From Operations attributable to non-controlling interests		0	0	0	0
Funds From Operations		36	25	62	38
Distributed energy & sustainable solutions
Disclosure of operating segments [line items]
Revenues		66	66	115	117
Distributed energy & sustainable solutions | Attributable to the partnership
Disclosure of operating segments [line items]
Revenues		37	34	67	65
Other income		0	0	7	0
Direct operating costs		(16)	(12)	(33)	(23)
Share of revenue, other income and direct operating costs from equity-accounted investments		0	0	0	0
Adjusted EBITDA		21	22	41	42
Management service costs		0	0	0	0
Interest expense		(4)	(5)	(9)	(10)
Current income taxes		0	0	0	0
Share of interest and cash taxes from equity-accounted investments		0	0	0	0
Share of Funds From Operations attributable to non-controlling interests		0	0	0	0
Funds From Operations		17	17	32	32
Corporate | Attributable to the partnership
Disclosure of operating segments [line items]
Revenues		0	0	0	0
Other income		0	0	0	0
Direct operating costs		(2)	0	(2)	0
Share of revenue, other income and direct operating costs from equity-accounted investments		0	0	0	0
Adjusted EBITDA		(2)	0	(2)	0
Management service costs		(38)	(47)	(90)	(102)
Interest expense		(4)	(4)	(4)	(4)
Current income taxes		0	0	0	0
Share of interest and cash taxes from equity-accounted investments		0	0	0	0
Share of Funds From Operations attributable to non-controlling interests		0	0	0	0
Funds From Operations		$ (44)	$ (51)	$ (96)	$ (106)
[1]Direct operating costs exclude depreciation expense disclosed below.

SEGMENTED INFORMATION - Summa_2

SEGMENTED INFORMATION - Summary of Segments by Balance Sheet Disclosures (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Disclosure of operating segments [line items]
Cash and cash equivalents	$ 571	$ 558	$ 410	$ 396	$ 298	$ 355
Property, plant and equipment, at fair value	37,258		37,915
Total assets	41,769		41,986
Total borrowings	13,956		13,512
Other liabilities	13,985		14,249
Additions to property, plant and equipment	456			457
Attributable to the partnership
Disclosure of operating segments [line items]
Cash and cash equivalents	181		136
Property, plant and equipment, at fair value	17,739		17,872
Total assets	19,918		19,835
Total borrowings	5,276		5,323
Other liabilities	10,831		10,846
Additions to property, plant and equipment	154			162
Contribution from equity- accounted investments
Disclosure of operating segments [line items]
Cash and cash equivalents	(1)		(2)
Property, plant and equipment, at fair value	(610)		(604)
Total assets	(175)		(176)
Total borrowings	(163)		(161)
Other liabilities	(12)		(15)
Additions to property, plant and equipment	(7)			(5)
Attributable to non- controlling interests
Disclosure of operating segments [line items]
Cash and cash equivalents	391		276
Property, plant and equipment, at fair value	20,129		20,647
Total assets	22,026		22,327
Total borrowings	8,843		8,350
Other liabilities	3,166		3,418
Additions to property, plant and equipment	309			300
Hydroelectric
Disclosure of operating segments [line items]
Property, plant and equipment, at fair value	25,275		25,720
Hydroelectric | Attributable to the partnership
Disclosure of operating segments [line items]
Cash and cash equivalents	62		41
Property, plant and equipment, at fair value	13,501		13,577
Total assets	15,181		15,108
Total borrowings	2,803		2,720
Other liabilities	4,147		4,051
Additions to property, plant and equipment	61			92
Wind
Disclosure of operating segments [line items]
Property, plant and equipment, at fair value	4,961		5,112
Wind | Attributable to the partnership
Disclosure of operating segments [line items]
Cash and cash equivalents	60		35
Property, plant and equipment, at fair value	1,458		1,478
Total assets	1,723		1,700
Total borrowings	723		765
Other liabilities	433		379
Additions to property, plant and equipment	20			25
Solar
Disclosure of operating segments [line items]
Property, plant and equipment, at fair value	6,836		6,890
Solar | Attributable to the partnership
Disclosure of operating segments [line items]
Cash and cash equivalents	48		43
Property, plant and equipment, at fair value	1,568		1,585
Total assets	1,732		1,731
Total borrowings	1,265		1,377
Other liabilities	170		119
Additions to property, plant and equipment	63			41
Distributed energy & sustainable solutions | Attributable to the partnership
Disclosure of operating segments [line items]
Cash and cash equivalents	11		13
Property, plant and equipment, at fair value	1,212		1,232
Total assets	1,268		1,279
Total borrowings	485		461
Other liabilities	18		66
Additions to property, plant and equipment	10			4
Corporate | Attributable to the partnership
Disclosure of operating segments [line items]
Cash and cash equivalents	0		4
Property, plant and equipment, at fair value	0		0
Total assets	14		17
Total borrowings	0		0
Other liabilities	6,063		$ 6,231
Additions to property, plant and equipment	$ 0			$ 0

SEGMENTED INFORMATION - Summa_3

SEGMENTED INFORMATION - Summary of Geographical and Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disclosure of operating segments [line items]
Revenues	$ 997	$ 817	$ 1,926	$ 1,656
Consolidated property, plant and equipment and equity-accounted investments	37,712		37,712		$ 38,370
North America
Disclosure of operating segments [line items]
Consolidated property, plant and equipment and equity-accounted investments	22,510		22,510		22,634
Colombia
Disclosure of operating segments [line items]
Consolidated property, plant and equipment and equity-accounted investments	8,170		8,170		8,497
Brazil
Disclosure of operating segments [line items]
Consolidated property, plant and equipment and equity-accounted investments	3,664		3,664		3,299
Europe
Disclosure of operating segments [line items]
Consolidated property, plant and equipment and equity-accounted investments	3,368		3,368		$ 3,940
Hydroelectric
Disclosure of operating segments [line items]
Revenues	608	463	1,177	941
Wind
Disclosure of operating segments [line items]
Revenues	157	144	340	346
Solar
Disclosure of operating segments [line items]
Revenues	166	144	294	252
Distributed energy & sustainable solutions
Disclosure of operating segments [line items]
Revenues	$ 66	$ 66	$ 115	$ 117

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Income Taxes [Abstract]
Effective income tax rate	29.80%	2%

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2022 USD ($) MW	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	$ 37,139	$ 37,139
Additions		(42)
Transfer from construction work-in-progress		97
Disposals		(97)
Items recognized through OCI:
Change in fair value		(2)
Foreign exchange		(451)
Items recognized through net income:
Depreciation		(582)
Ending balance		36,062
Reconciliation of changes in construction in progress [Abstract]
Construction work-in-progress, beginning balance	$ 776	776
Additions		498
Transfer to property, plant and equipment		(97)
Items recognized through OCI:
Foreign exchange		19
Construction work-in-progress, ending balance		1,196
Total property, plant and equipment, at fair value		37,258	$ 37,915
248 MW Development Wind Portfolio in Brazil
Items recognized through OCI:
Proportion of economic interest	25%
248 MW Development Wind Portfolio in Brazil | Brookfield Renewable and Institutional Partners
Items recognized through OCI:
Wind power capacity, generation facilities (in MW) | MW	248
Acquisitions through asset acquisitions	$ 11
Hydroelectric
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	25,496	25,496
Additions		8
Transfer from construction work-in-progress		95
Disposals		(97)
Items recognized through OCI:
Change in fair value		(2)
Foreign exchange		(171)
Items recognized through net income:
Depreciation		(253)
Ending balance		25,076
Reconciliation of changes in construction in progress [Abstract]
Construction work-in-progress, beginning balance	224	224
Additions		61
Transfer to property, plant and equipment		(95)
Items recognized through OCI:
Foreign exchange		9
Construction work-in-progress, ending balance		199
Total property, plant and equipment, at fair value		25,275	25,720
Right-of-use asset not subject to revaluation, disposal		49	52
Wind
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	4,998	4,998
Additions		(52)
Transfer from construction work-in-progress		1
Disposals		0
Items recognized through OCI:
Change in fair value		0
Foreign exchange		(85)
Items recognized through net income:
Depreciation		(153)
Ending balance		4,709
Reconciliation of changes in construction in progress [Abstract]
Construction work-in-progress, beginning balance	114	114
Additions		144
Transfer to property, plant and equipment		(1)
Items recognized through OCI:
Foreign exchange		(5)
Construction work-in-progress, ending balance		252
Total property, plant and equipment, at fair value		4,961	5,112
Right-of-use asset not subject to revaluation, disposal		127	130
Solar
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	6,457	6,457
Additions		2
Transfer from construction work-in-progress		0
Disposals		0
Items recognized through OCI:
Change in fair value		0
Foreign exchange		(201)
Items recognized through net income:
Depreciation		(159)
Ending balance		6,099
Reconciliation of changes in construction in progress [Abstract]
Construction work-in-progress, beginning balance	433	433
Additions		289
Transfer to property, plant and equipment		0
Items recognized through OCI:
Foreign exchange		15
Construction work-in-progress, ending balance		737
Total property, plant and equipment, at fair value		6,836	6,890
Right-of-use asset not subject to revaluation, disposal		148	157
Other
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	188	188
Additions		0
Transfer from construction work-in-progress		1
Disposals		0
Items recognized through OCI:
Change in fair value		0
Foreign exchange		6
Items recognized through net income:
Depreciation		(17)
Ending balance		178
Reconciliation of changes in construction in progress [Abstract]
Construction work-in-progress, beginning balance	$ 5	5
Additions		4
Transfer to property, plant and equipment		(1)
Items recognized through OCI:
Foreign exchange		0
Construction work-in-progress, ending balance		8
Total property, plant and equipment, at fair value		186	193
Right-of-use asset not subject to revaluation, disposal		$ 2	$ 2

BORROWINGS - Composition of Non

BORROWINGS - Composition of Non-recourse Borrowings (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) year	Dec. 31, 2021 USD ($)
Non-Permanent Financings
Disclosure of detailed information about borrowings [line items]
Term | year	9
Brookfield Reinsurance
Disclosure of detailed information about borrowings [line items]
Non-recourse borrowings due to related party	$ 15	$ 0
Non-recourse borrowings
Disclosure of detailed information about borrowings [line items]
Interest rate (%)	5.50%	4.50%
Term (years)	10 years	9 years
Carrying value	$ 14,003	$ 13,546
Add: Unamortized premium	37	57
Less: Unamortized financing fees	(84)	(91)
Less: Current portion	(1,375)	(1,452)
Non Recourse Borrowings	12,581	12,060
Estimated fair value	$ 13,777	$ 14,397
Non-recourse borrowings | Hydroelectric
Disclosure of detailed information about borrowings [line items]
Interest rate (%)	6.30%	5.10%
Term (years)	8 years	7 years
Carrying value	$ 6,812	$ 6,160
Estimated fair value	$ 6,683	$ 6,543
Non-recourse borrowings | Wind
Disclosure of detailed information about borrowings [line items]
Interest rate (%)	4.40%	3.70%
Term (years)	9 years	9 years
Carrying value	$ 2,417	$ 2,416
Estimated fair value	$ 2,300	$ 2,577
Non-recourse borrowings | Solar
Disclosure of detailed information about borrowings [line items]
Interest rate (%)	5.10%	4.10%
Term (years)	13 years	13 years
Carrying value	$ 3,938	$ 4,110
Estimated fair value	$ 4,006	$ 4,365
Non-recourse borrowings | Distributed energy & sustainable solutions
Disclosure of detailed information about borrowings [line items]
Interest rate (%)	4.20%	3.90%
Term (years)	12 years	12 years
Carrying value	$ 836	$ 860
Estimated fair value	788	912
Subscription facility | Parent
Disclosure of detailed information about borrowings [line items]
Non Recourse Borrowings	$ 9	$ 8

BORROWINGS - Narrative (Details

BORROWINGS - Narrative (Details) € in Millions, R$ in Millions, $ in Millions, $ in Billions	Jun. 30, 2022 USD ($)	Jun. 30, 2022 COP ($)	Jun. 30, 2022 BRL (R$)	Jun. 30, 2022 EUR (€)	Mar. 31, 2022 USD ($) tranche	Mar. 31, 2022 COP ($) tranche	Mar. 31, 2022 BRL (R$) tranche
March 2022 Financing Maturing 2032
Disclosure of detailed information about borrowings [line items]
Notional amount					$ 53	$ 200
Borrowings, interest rate					8.66%	8.66%	8.66%
March 2022 Financing Maturing 2029 and 2037
Disclosure of detailed information about borrowings [line items]
Notional amount					$ 95	$ 356
Borrowings, interest rate					4.39%	4.39%	4.39%
Number of tranches | tranche					2	2	2
March 2022 Financing Maturing 2032, Colombian Instrument
Disclosure of detailed information about borrowings [line items]
Notional amount					$ 53	$ 200
Borrowings, interest rate					3.25%	3.25%	3.25%
March 2022 Financing Maturing February 2045
Disclosure of detailed information about borrowings [line items]
Notional amount					$ 29		R$ 150
Borrowings, interest rate					5.04%	5.04%	5.04%
March 2022 Refinancing for Debt Associated with United States Business Maturing 2032
Disclosure of detailed information about borrowings [line items]
Notional amount					$ 170
Borrowings, interest rate					3.62%	3.62%	3.62%
Number of tranches | tranche					2	2	2
March 2022 Refinancing for Debt Associated with United States Business Maturing 2026
Disclosure of detailed information about borrowings [line items]
Notional amount					$ 35
March 2022 Refinancing for Debt Associated with United States Business Maturing 2026, Fixed Rate Instrument
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate					4.98%	4.98%	4.98%
March 2022 Refinancing for Debt Associated with United States Business Maturing 2026, Variable Rate Instrument
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate					3.25%	3.25%	3.25%
June 2022 Financing Maturing 2045
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 63		R$ 300
Borrowings, interest rate	5.39%	5.39%	5.39%	5.39%
June 2022 Financing Maturing 2024
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 96		R$ 500
Borrowings, interest rate	1.58%	1.58%	1.58%	1.58%
June 2022 Financing Maturing 2039
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 70			€ 66
Borrowings, interest rate	3.36%	3.36%	3.36%	3.36%
June 2022 Financing Maturing 2032, Colombian Instrument
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 97	$ 400
Borrowings, interest rate	3.25%	3.25%	3.25%	3.25%
June 2022 Financing Maturing 2030, Colombian Instrument
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 24	$ 100
Borrowings, interest rate	3.90%	3.90%	3.90%	3.90%
June 2022 Financing Maturing 2030, Colombian Instrument Two
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 12	$ 50
Borrowings, interest rate	3.90%	3.90%	3.90%	3.90%
June 2022 Financing Maturing 2034, Colombian Instrument
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 24	$ 100
Borrowings, interest rate	4.70%	4.70%	4.70%	4.70%
June 2022 Financing Maturing 2027, Colombian Instrument
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 53	$ 219
Borrowings, interest rate	2.45%	2.45%	2.45%	2.45%
June 2022 Financing Maturing 2029, Colombian Instrument
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 144	$ 594
Borrowings, interest rate	2.98%	2.98%	2.98%	2.98%
June 2022 Financing Maturing 2030, Colombian Instrument Three
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 57	$ 237
Borrowings, interest rate	2.45%	2.45%	2.45%	2.45%
June 2022 Refinancing for Debt Associated with United States Business
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 750
Increase in borrowing capacity	250
June 2022 Refinancing for Debt Associated with United States Business Maturing 2029
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 500
Borrowings, interest rate	2.85%	2.85%	2.85%	2.85%

NON-CONTROLLING INTERESTS - Sum

NON-CONTROLLING INTERESTS - Summary of Non-controlling Interests (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Disclosure of Non Controlling Interest [Line Items]
Non-controlling interests	$ 10,016	$ 10,558
Participating non-controlling interests – in operating subsidiaries
Disclosure of Non Controlling Interest [Line Items]
Non-controlling interests	9,755	10,297
Participating non-controlling interests – in a holding subsidiary held by the partnership
Disclosure of Non Controlling Interest [Line Items]
Non-controlling interests	$ 261	$ 261

NON-CONTROLLING INTERESTS - Rol

NON-CONTROLLING INTERESTS - Rollforward of Participating Non-controlling Interests (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure of subsidiaries [line items]
Beginning balance			$ 10,558
Other	$ (23)	$ (10)	(14)	$ (15)
Ending balance	10,016		10,016
Participating non-controlling interests – in operating subsidiaries
Disclosure of subsidiaries [line items]
Beginning balance			10,297
Net income (loss)	90	46	180	(10)
Other comprehensive income (loss)			(103)
Capital contributions			196
Dividends declared			(798)
Other	(17)	$ 3	(17)	$ 12
Ending balance	9,755		9,755
Participating non-controlling interests – in operating subsidiaries | Brookfield Americas Infrastructure Fund
Disclosure of subsidiaries [line items]
Beginning balance			686
Net income (loss)			0
Other comprehensive income (loss)			(7)
Capital contributions			0
Dividends declared			(21)
Other			0
Ending balance	658		$ 658
Participating non-controlling interests – in operating subsidiaries | Brookfield Americas Infrastructure Fund | Minimum
Disclosure of subsidiaries [line items]
Interests held by third parties			75%
Participating non-controlling interests – in operating subsidiaries | Brookfield Americas Infrastructure Fund | Maximum
Disclosure of subsidiaries [line items]
Interests held by third parties			78%
Participating non-controlling interests – in operating subsidiaries | Brookfield Infrastructure Fund II
Disclosure of subsidiaries [line items]
Beginning balance			$ 2,251
Net income (loss)			(36)
Other comprehensive income (loss)			5
Capital contributions			4
Dividends declared			(39)
Other			2
Ending balance	2,187		$ 2,187
Participating non-controlling interests – in operating subsidiaries | Brookfield Infrastructure Fund II | Minimum
Disclosure of subsidiaries [line items]
Interests held by third parties			43%
Participating non-controlling interests – in operating subsidiaries | Brookfield Infrastructure Fund II | Maximum
Disclosure of subsidiaries [line items]
Interests held by third parties			60%
Participating non-controlling interests – in operating subsidiaries | Brookfield Infrastructure Fund III
Disclosure of subsidiaries [line items]
Beginning balance			$ 3,186
Net income (loss)			67
Other comprehensive income (loss)			(15)
Capital contributions			0
Dividends declared			(251)
Other			2
Ending balance	2,989		$ 2,989
Participating non-controlling interests – in operating subsidiaries | Brookfield Infrastructure Fund III | Minimum
Disclosure of subsidiaries [line items]
Interests held by third parties			23%
Participating non-controlling interests – in operating subsidiaries | Brookfield Infrastructure Fund III | Maximum
Disclosure of subsidiaries [line items]
Interests held by third parties			71%
Participating non-controlling interests – in operating subsidiaries | Brookfield Infrastructure Fund IV
Disclosure of subsidiaries [line items]
Beginning balance			$ 261
Net income (loss)			(1)
Other comprehensive income (loss)			10
Capital contributions			186
Dividends declared			0
Other			(1)
Ending balance	455		$ 455
Interests held by third parties			75%
Participating non-controlling interests – in operating subsidiaries | Isagen institutional investors
Disclosure of subsidiaries [line items]
Beginning balance			$ 2,442
Net income (loss)			106
Other comprehensive income (loss)			(66)
Capital contributions			0
Dividends declared			(424)
Other			(4)
Ending balance	2,054		$ 2,054
Interests held by third parties			53%
Participating non-controlling interests – in operating subsidiaries | Isagen public non-controlling interests
Disclosure of subsidiaries [line items]
Beginning balance			$ 13
Net income (loss)			1
Other comprehensive income (loss)			0
Capital contributions			0
Dividends declared			(1)
Other			(1)
Ending balance	12		$ 12
Interests held by third parties			0.30%
Participating non-controlling interests – in operating subsidiaries | The Catalyst Group
Disclosure of subsidiaries [line items]
Beginning balance			$ 132
Net income (loss)			12
Other comprehensive income (loss)			0
Capital contributions			0
Dividends declared			(5)
Other			(1)
Ending balance	138		$ 138
Interests held by third parties			25%
Participating non-controlling interests – in operating subsidiaries | TerraForm Power
Disclosure of subsidiaries [line items]
Beginning balance			$ 853
Net income (loss)			22
Other comprehensive income (loss)			18
Capital contributions			0
Dividends declared			(46)
Other			3
Ending balance	850		$ 850
Interests held by third parties			33%
Participating non-controlling interests – in operating subsidiaries | Other
Disclosure of subsidiaries [line items]
Beginning balance			$ 473
Net income (loss)			9
Other comprehensive income (loss)			(48)
Capital contributions			6
Dividends declared			(11)
Other			(17)
Ending balance	$ 412		$ 412
Participating non-controlling interests – in operating subsidiaries | Other | Minimum
Disclosure of subsidiaries [line items]
Interests held by third parties			0.30%
Participating non-controlling interests – in operating subsidiaries | Other | Maximum
Disclosure of subsidiaries [line items]
Interests held by third parties			30%

BEPC EXCHAGEABLE SHARES, BEPC_3

BEPC EXCHAGEABLE SHARES, BEPC CLASS B SHARES AND BEPC CLASS C SHARES - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
BEPC exchangeable and BEPC class B shares ($ million)
Disclosure of limited partners equity [Line Items]
Decrease to financial liability			$ 1	$ 1
BEPC Exchangeable Units
Disclosure of limited partners equity [Line Items]
Units outstanding (in shares)	$ 34.80		$ 34.80
BEPC exchangeable shares outstanding (units)
Disclosure of limited partners equity [Line Items]
Share exchanges (in shares)	4,743,000,000	6,033	8,084	9,642
Dividends paid	$ 55	$ 52	$ 110	$ 104
Number of shares outstanding (in shares)	172,222,322		172,222,322		172,203,342
Class C
Disclosure of limited partners equity [Line Items]
Number of shares issued (in shares)	189,600,000		189,600,000
Number of shares outstanding (in shares)	189,600,000		189,600,000
Ordinary shares
Disclosure of limited partners equity [Line Items]
Maximum units for normal course issuer bid (in shares)					8,600,000
Percentage of units for normal course issuer bid					5%

BEPC EXCHAGEABLE SHARES, BEPC_4

BEPC EXCHAGEABLE SHARES, BEPC CLASS B SHARES AND BEPC CLASS C SHARES - Schedule of shares outstanding (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
BEPC exchangeable shares outstanding (units)
Reconciliation of number of shares outstanding [abstract]
Beginning balance (in shares)			172,203,342
Share issuance (in shares)			27,064
Share exchanges (in shares)	(4,743,000,000)	(6,033)	(8,084)	(9,642)
Remeasurement of liability (in shares)			0
Ending balance (in shares)	172,222,322		172,222,322
BEPC class B shares outstanding (units)
Reconciliation of number of shares outstanding [abstract]
Beginning balance (in shares)			165
Share issuance (in shares)			0
Share exchanges (in shares)			0
Remeasurement of liability (in shares)			0
Ending balance (in shares)	165		165
BEPC exchangeable and BEPC class B shares ($ million)
Reconciliation of number of shares outstanding [abstract]
Beginning balance			$ 6,163
Share issuance			1
Share exchanges			0
Remeasurement of liability			(171)
Ending balance	$ 5,993		$ 5,993

EQUITY-ACCOUNTED INVESTMENTS -

EQUITY-ACCOUNTED INVESTMENTS - Summary of Equity-Accounted Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Detailed Information About Equity-Accounted Investments [Abstract]
Opening balance			$ 455
Share of net loss	$ 1	$ (1)	(1)	$ 1
Share of other comprehensive income			1
Dividends received			(2)
Foreign exchange translation and other			1
Ending balance	$ 454		$ 454

CASH AND CASH EQUIVALENTS (Deta

CASH AND CASH EQUIVALENTS (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Disclosure Of Detailed Information About Cash And Cash Equivalents [Abstract]
Cash	$ 567		$ 405
Short-term deposits	4		5
Cash and cash equivalents, net	$ 571	$ 558	$ 410	$ 396	$ 298	$ 355

RESTRICTED CASH (Details)

RESTRICTED CASH (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Disclosure Of Detailed Information About Restricted Cash [Abstract]
Operations	$ 82	$ 80
Credit obligations	74	67
Development projects	146	50
Total	302	197
Less: non-current	(51)	(51)
Current	$ 251	$ 146

TRADE RECEIVABLES AND OTHER C_3

TRADE RECEIVABLES AND OTHER CURRENT ASSETS - Summary of Trade Receivables and Other Current Assets (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Disclosure Trade Receivables and Other Current Assets [Abstract]
Trade receivables	$ 457	$ 502
Collateral deposits	733	434
Prepaids and other	71	83
Income tax receivables	10	30
Inventory	21	20
Other short-term receivables	87	77
Trade receivables and other current assets	$ 1,379	$ 1,146

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Summary of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Disclosure Accounts Payable and Accured Liabilities [Abstract]
Operating accrued liabilities	$ 196	$ 195
Accounts payable	108	118
Interest payable on borrowings	82	71
BEPC exchangeable shares distributions payable	14	16
Current portion of lease liabilities	23	25
Other	50	27
Total accounts payable and accrued liabilities	473	452
Trade receivables	457	502
Prepaids and other	71	83
Inventory	21	20
Income tax receivables	10	30
Other short-term receivables	87	77
Trade receivables and other current assets	$ 1,379	$ 1,146

COMMITMENTS, CONTINGENCIES AN_2

COMMITMENTS, CONTINGENCIES AND GUARANTEES - Narrative (Details) $ in Millions, $ in Millions	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) MW	Jun. 30, 2022 COP ($)	Jun. 30, 2022 USD ($) MW	Dec. 31, 2021 USD ($)
Disclosure of contingent liabilities [line items]
Agreements renewable and extended period			2089
Capital expenditure commitments			$ 675	$ 392
Borrowings	$ 13,956		13,956	13,512
Subsidiaries [member] | Letters of Credit
Disclosure of contingent liabilities [line items]
Borrowings	766		$ 766	$ 698
38 MW Solar Development Portfolio, Columbia
Disclosure of contingent liabilities [line items]
Investment in equity-accounted investments	$ 37	$ 153,000
Wind power capacity (in MW) | MW	38		38
Ownership interest	22%	22%
600 MW Solar Development Project
Disclosure of contingent liabilities [line items]
Investment in equity-accounted investments			$ 47
Wind power capacity (in MW) | MW	600		600
Ownership interest			25%
600 MW Solar Development Project | Brookfield Renewable and Institutional Partners
Disclosure of contingent liabilities [line items]
Investment in equity-accounted investments			$ 186
Not later than one year [member]
Disclosure of contingent liabilities [line items]
Payments for development project expenditure			394
Later than one year and not later than two years [member]
Disclosure of contingent liabilities [line items]
Payments for development project expenditure			262
Later than two years and not later than three years [member]
Disclosure of contingent liabilities [line items]
Payments for development project expenditure			17
Thereafter
Disclosure of contingent liabilities [line items]
Payments for development project expenditure			$ 2

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 13,956		$ 13,956		$ 13,512
Interest expense on borrowings	255	$ 220	483	$ 440
Brookfield Asset Management Reinsurance Partners L.P.
Disclosure of detailed information about borrowings [line items]
Non-recourse borrowings due to related party	15		15		$ 0
Amended Series 8 | Medium Term Notes
Disclosure of detailed information about borrowings [line items]
Borrowings	400		400
Interest expense on borrowings	$ 0	$ 0	$ 1	$ 1
Amended Series 8 | Medium Term Notes | LIBOR
Disclosure of detailed information about borrowings [line items]
Borrowings, adjustment to interest rate basis	1.80%		1.80%

RELATED PARTY TRANSACTIONS - In

RELATED PARTY TRANSACTIONS - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other income
Interest income	$ 3	$ 0	$ 5	$ 0
Interest expense
Other related party services	(1)	(1)	(2)	(2)
Management service agreement	(43)	(47)	(95)	(102)
Gains from agency arrangement		0		62
Brookfield Asset Management
Revenues
Power purchase and revenue agreements	20	35	59	108
Direct operating costs
Energy purchases	(8)	(9)	(12)	(13)
Energy marketing fee & other services	(2)	(3)	(7)	(4)
Insurance services	0	(4)	0	(9)
Total related party direct operating costs	(10)	(16)	(19)	(26)
Interest expense
Borrowings	(6)	(12)	(10)	(12)
Management service agreement	$ (43)	$ (47)	$ (95)	$ (102)