Brookfield Renewable Announces Intention to Redeem its Series 11 Preferred Units

Rhea-AI Summary

Brookfield Renewable Partners announced plans to redeem all outstanding Class A Preferred Limited Partnership Units, Series 11, for cash on April 30, 2022. The redemption price is set at C$25.00 per Series 11 Preferred Unit. Holders of these units recorded as of April 14, 2022 will also receive a final quarterly distribution of C$0.3125 per unit. Brookfield Renewable is a major player in renewable energy, managing about 21,000 megawatts of installed capacity globally.

Positive

• Redemption of Series 11 Preferred Units improves capital structure.
• Final distribution of C$0.3125 per unit rewards investors.

Negative

• None.

BROOKFIELD, News, April 05, 2022 (GLOBE NEWSWIRE) -- Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP) today announced that it intends to redeem all of its outstanding Class A Preferred Limited Partnership Units, Series 11 (the “Series 11 Preferred Units”) (TSX: BEP.PR.K) for cash on April 30, 2022. The redemption price for each Series 11 Preferred Unit will be C$25.00. Holders of Series 11 Preferred Units of record as of April 14, 2022 will receive the previously declared final quarterly distribution of C$0.3125 per Series 11 Preferred Unit.

Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Our portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 21,000 megawatts of installed capacity and an approximately 62,000 megawatt development pipeline.

Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately US$690 billion of assets under management.

Contact information:

Media: Simon Maine Managing Director – Corporate Communications (44) 7398-909-278 simon.maine@brookfield.com

Investors: Robin Kooyman Senior Vice President – Investor Relations (416) 649-8172 robin.kooyman@brookfield.com

FAQ

When will Brookfield Renewable redeem Series 11 Preferred Units?

Brookfield Renewable will redeem Series 11 Preferred Units on April 30, 2022.

What is the redemption price for Series 11 Preferred Units?

The redemption price is set at C$25.00 per Series 11 Preferred Unit.

What distribution will holders receive for Series 11 Preferred Units?

Holders will receive a final quarterly distribution of C$0.3125 per unit.

What is the installed capacity of Brookfield Renewable?

Brookfield Renewable operates approximately 21,000 megawatts of installed capacity.

What are the ticker symbols for Brookfield Renewable Partners?

The ticker symbols are BEP on NYSE and BEP.UN on TSX.