Brookfield Renewable Announces Intention to Redeem its Series 5 Preferred Units

Rhea-AI Summary

Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN) announced plans to redeem all outstanding Class A Preferred Limited Partnership Units, Series 5, on January 31, 2022, at a price of C$25.25 each. This comes alongside a final quarterly distribution of C$0.3494 for holders of record by January 14, 2022. Brookfield Renewable operates a significant portfolio of renewable power assets globally, totaling about 21,000 megawatts of installed capacity and a 36,000-megawatt development pipeline.

Positive

• Announcement of redemption for Series 5 Preferred Units may enhance stock stability.
• Continued commitment to return capital to preferred shareholders through cash distributions.

Negative

• None.

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BROOKFIELD, News, Jan. 04, 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 5 (the “Series 5 Preferred Units”) (TSX: BEP.PR.E) for cash on January 31, 2022. The redemption price for each Series 5 Preferred Unit will be C$25.25. Holders of Series 5 Preferred Units of record as of January 14, 2022 will receive the previously declared final quarterly distribution of C$0.3494 per Series 5 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 36,000-megawatt development pipeline. Investors can access our portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation. Further information is available at www.bep.brookfield.com and www.bep.brookfield.com/bepc. Important information may be disseminated exclusively via the website; investors should consult the site to access this information.

Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately US$650 billion of assets under management.

For more information, please contact:

Media: Kerrie McHugh Senior Vice President – Corporate Communications (212) 618-3469 kerrie.mchugh@brookfield.com

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

FAQ

When is Brookfield Renewable Partners redeeming its Series 5 Preferred Units?

Brookfield Renewable Partners is redeeming its Series 5 Preferred Units on January 31, 2022.

What will be the redemption price for the Series 5 Preferred Units?

The redemption price for each Series 5 Preferred Unit will be C$25.25.

Who will receive the final quarterly distribution for the Series 5 Preferred Units?

Holders of Series 5 Preferred Units of record as of January 14, 2022, will receive the final distribution of C$0.3494.

What is the installed capacity of Brookfield Renewable's portfolio?

Brookfield Renewable's portfolio includes approximately 21,000 megawatts of installed capacity.

What is the development pipeline capacity of Brookfield Renewable?

Brookfield Renewable has an approximately 36,000-megawatt development pipeline.