07:48 AM EST, 01/31/2025 (MT Newswires) -- Brookfield Renewable Partners (BEP-UN.TO) on Friday reported a swing to a fourth-quarter loss, and announced a 5% distribution increase, to US$0.373.

Net loss of US$9 million, or US$0.06 per limited partnership (LP) unit, compares with a net income of US$35 million, or US$0.01 per LP unit the prior year.

Funds from operations (FFO) rose to US$304 million, or US$0.46 per LP unit, from US$255 million, or US$0.38 per LP unit, the year before. FFO results reflect contributions from acquisitions and organic growth and value creation initiatives across the business, including the sale of de-risked operating assets, the statement noted.

The company will pay its increased quarterly distribution of US$0.373 on March 31.

Brookfield Renewable said its growth outlook remains strong, particularly in the U.S. and does not expect any material adjustments to the policies that impact its business, as these largely have bipartisan support. Most of its business is also being driven by corporate customers.

The company also appointed Jennifer Mazin and Wyatt Hartley as Co-Presidents of Brookfield Renewable Partners, both current members of its senior leadership team.

Mazin will continue to serve as General Counsel. Hartley will head the North American Asset Management group. He succeeds Mitch Davidson.

Natalie Adomait, who joined Brookfield in 2011, has been appointed Chief Operating Officer and Patrick Taylor, who also joined Brookfield in 2011, is now Chief Financial Officer.