발화자 미상
Operator: Thank you for standing by, and welcome to the First Quarter 2026 Brookfield Renewable Earnings Results and Webcast. [Operator Instructions] As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Connor Teskey. Please go ahead, sir.
Connor Teskey: Thank you, operator. Good morning, everyone, and thank you for joining us for our first quarter 2026 conference call. Before we begin, we would like to remind you that a copy of our news release and investor supplement can be found on our website. We also want to remind you that we may make forward-looking statements on this call. These statements are subject to known and unknown risks, and our future results may differ materially. For more information, you are encouraged to review our regulatory filings available on SEDAR+, EDGAR and on our website. On today's call, we will review our first quarter 2026 performance and discuss what we are seeing today in the broader energy market and what this means for our business. We will then turn the call over to Jehangir Vevaina, our Chief Investment Officer, to discuss our approach to growth through M&A and our recently announced agreement to acquire Boralex. Patrick will then conclude the call with a discussion of our operating results, financial position and funding activities, along with the potential simplification of our structure to a single listed corporate entity. Following our comments, we look forward to taking your questions. We had a very strong start to the year, delivering record financial results, advancing key strategic initiatives, and further strengthening our balance sheet. We generated FFO of $375 million, up 19% year-over-year and 15% on a per unit basis, equating to $0.55 per unit. We deployed our committed $2.2 billion into growth or $550 million net to BEP highlighted by the privatization of Boralex, a leading global renewable platform with a significant operating base and a large and derisked development pipeline. From a development perspective, we brought online 1.8 gigawatts of new capacity in the quarter and contracted 1.7 gigawatts of development projects from our advanced development pipeline. In addition, we continue to scale our capital recycling program selling assets that will generate nearly $3 billion of proceeds or over $800 million net to BEP at returns in line with our targets. This includes the launch of Northview Energy which represents a new and recurring way, we are monetizing our derisked assets in North America to some of the world's largest and most sophisticated private investors. We did all of this while continuing to strengthen our balance sheet, opportunistically executing almost $4 billion of financings and ending the quarter with over $4.7 billion of available liquidity. Now taking a step back and looking at the global energy market today, this past quarter, we saw the disruption with the outbreak of the conflict in the Middle East. First and …
