Brookfield Renewable Corp.: A Wise Investment for a Lifetime of Income?

Brookfield Renewable Corp. (NYSE: BEPC) is a complex entity that offers a high 4.7% dividend yield. The company is backed by the Canadian investment company Brookfield Asset Management (NYSE: BAM), which has plans to grow its clean energy investments. In fact, Brookfield Renewable Partners (NYSE: BEP), a sister unit of Brookfield Renewable Corp., also exists and has a distribution yield of 5.8%. The difference in yields between these two entities lies in the fact that Brookfield Renewable Partners was created as a partnership to allow a larger pool of investors to buy into the Brookfield entity. The corporate share class is more popular than the partnership units, which reflects in the yield difference. Regardless of which form you choose to invest in, Brookfield Renewable represents a way to invest alongside Brookfield Asset Management as it invests in clean energy infrastructure. Infrastructure has long been the Canadian asset manager's specialty, and Brookfield Renewable is valuable to Brookfield Asset Management because once it sells a unit or share, that unit or share continues to exist until it is bought back by Brookfield Renewable. Brookfield Renewable owns renewable power assets, including solar, wind, hydroelectric, and battery storage. More recently, it has added nuclear power to its portfolio. It provides exposure to every kind of clean energy power source that is scalable and invests on a global scale, with operations in North America, South America, Europe, and Asia. The dividend here has grown steadily over time as Brookfield Renewable's portfolio has grown. The goal is for annual dividend increases of between 5% and 9%. The long-term growth that backs these increases will come as Brookfield Renewable is used as a funding source to support Brookfield Asset Management's growth plans, which include roughly doubling its investment in clean energy between 2025 and 2030. Given the purpose of Brookfield Renewable Corp. and Brookfield Asset Management's growth plans, it seems highly likely that buying Brookfield Renewable Corp. can set you up with a lifetime of reliable income. The same could be said for higher yielding Brookfield Renewable Partners if you don't mind owning a partnership. However, it's important to consider all your options and weigh the risks and rewards of your investment decisions before investing in Brookfield Renewable. Before investing in Brookfield Renewable, consider this: The Motley Fool Stock Advisor analyst team has identified what they believe are the 10 best stocks for investors to buy now, and Brookfield Renewable wasn't one of them. However, the 10 stocks that made the cut could produce monster returns in the coming years. For example, if you invested $1,000 in Netflix when it made this list in December 2004, you would have $676,023 today! In conclusion, while investing in Brookfield Renewable Corp. could set you up for life with its lofty 4.7% dividend yield and the backing of Brookfield Asset Management's growth plans, it's important to consider all your options and weigh the risks and rewards of your investment decisions.