BrookfieldRenewable Energy Partners LP recorded a $117 million year-over-yearincrease in first-quarter adjusted EBITDA to $455 million.
The partnership booked $674 million in revenues during the mostrecent quarter, an increase from $441 million in the first quarter of lastyear. Funds from operations increased to $187 million, or 68 cents per unit, inthe 2016 first quarter, from $153 million, or 56 cents per unit, a year ago.
"We have started 2016 on very solid footing with strongoperating results and the recent acquisitionof 3,000 megawatts of high-quality hydroelectric assets," said SachinShah, CEO of Brookfield Renewable. "Our focus remains on leveraging ouroperating, development and power marketing expertise to deliver 12% to 15%annual growth in value and cash flows."
Brookfield Renewable posted first-quarter net incomeattributable to limited partners' equity of $23 million, or 16 cents per unit,up from $15 million, or 10 cents per unit, in the comparable quarter of 2015.
First-quarter generation rose to 7,659 GWh in 2016 from5,823 GWh in 2015. The hydroelectric portfolio generated 6,533 GWh, an increaseof 1,757 GWh compared with the year-ago period, while the wind portfoliogenerated 1,105 GWh, an increase of 170 GWh compared with the prior year.
The partnership said it will pay its next quarterlydistribution of 44.50 cents per unit on June 30 to unit holders of record atthe close of business May 31. Brookfield Renewable targets sustainabledistribution with increases targeted on average at 5% to 9% annually.