Welcome to our dedicated page for Brookfield Renewable Partners L.P. news (Ticker: BEP), a resource for investors and traders seeking the latest updates and insights on Brookfield Renewable Partners L.P. stock.
Brookfield Renewable Partners L.P. (NYSE: BEP, TSX: BEP), headquartered in Toronto, Ontario, Canada, is a leading global owner and operator of renewable power assets. With a diversified portfolio that spans hydroelectric, wind, solar, and storage facilities, the company manages over 20 gigawatts of installed capacity across North America, South America, Europe, and Asia. A publicly traded limited partnership, Brookfield Renewable is approximately 60% owned by Brookfield Asset Management.
Brookfield Renewable invests in clean energy projects both directly and through partnerships including institutional partners and joint ventures. Its portfolio includes two separate listings for investors: Brookfield Renewable Partners LP and Brookfield Renewable Corporation, offering flexibility for diverse investment strategies. The company is committed to advancing the global transition to renewable energy, driven by substantial investments in its development pipeline, which totals approximately 134,400 megawatts of renewable power assets.
Recent Achievements:
- In October 2023, Brookfield Renewable completed the acquisition of Duke Energy's unregulated commercial renewables business, rebranding it as Deriva Energy. This transaction adds 5,900 megawatts of operating and under-construction wind, solar, and storage assets to Brookfield's portfolio.
- Brookfield continues to secure significant agreements, such as the Virtual Power Purchase Agreement (VPPA) with Zoetis Inc. for a 50-megawatt portion of Scout Clean Energy's Heart of Texas Wind Farm. This project underscores Brookfield's role in facilitating carbon neutrality efforts for various industries.
Brookfield Renewable's financial performance remains robust, as indicated by its funds from operations (FFO) of $296 million in Q1 2024, an 8% increase year-over-year. The company is well-positioned to deliver a target 10%+ FFO per unit growth for the year, driven by strong hydro resources and impactful development initiatives. Amidst a challenging economic landscape, Brookfield Renewable's strategy emphasizes sustainable growth and shareholder returns.
Additionally, Brookfield Renewable leverages its scale and expertise to drive innovation in the renewable energy sector. The company's assets under management reflect its commitment to investing in real assets and businesses that are essential to the global economy. With a vision to be at the forefront of the climate transition, Brookfield Renewable continues to expand its footprint in renewable power and decarbonization solutions, benefiting from Brookfield Asset Management's expansive capital and operational know-how.
Brookfield Renewable will conduct its First Quarter 2022 Conference Call on May 6, 2022, at 9:00 a.m. ET. The results will be published earlier that day at approximately 7:00 a.m. ET. Investors can participate by calling 1-866-688-9430 or through a live webcast. A rebroadcast will be accessible until May 13, 2022. Brookfield Renewable operates globally with a substantial renewable power portfolio totaling around 21,000 megawatts of installed capacity.
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.
BROOKFIELD, March 1, 2022 - Brookfield Renewable Partners (BEP) and Brookfield Renewable Corporation (BEPC) announced the filing of their 2021 annual reports, including audited financial statements, with the SEC and Canadian authorities. The reports detail their renewable power portfolio, which includes hydroelectric, wind, solar, and storage facilities totaling approximately 21,000 megawatts of installed capacity and a 62,000-megawatt development pipeline. These reports are accessible on the companies' websites and via SEC and SEDAR.
BROOKFIELD, News, Feb. 20, 2022 – Brookfield Renewable (NYSE: BEP, BEPC) and its partners announced a proposal to privatize AGL Energy Limited, valuing the company at A$5 billion. The Consortium aims to invest A$20 billion for AGL's transition to clean energy, replacing 7 GW of thermal assets with at least 8 GW of renewables. Despite the potential for 10,000 jobs and cleaner energy, AGL’s Board has rejected the proposal, prompting disappointment from Brookfield. The proposal is subject to due diligence, shareholder, and regulatory approvals.
Brookfield Renewable Partners reported strong financial results for 2021, achieving record FFO of $934 million, a 10% increase from the previous year. The company has over 15,000 megawatts of capacity under construction and a global development pipeline of 62,000 megawatts. Despite a net loss of $368 million, significant investments of approximately $4.3 billion were made across various renewable segments, including hydro and solar. A 5% increase in quarterly distributions to $0.32 per LP unit was also announced, reflecting the company’s commitment to returning value to shareholders.
Brookfield Renewable and Hydro-Québec have signed a 40-year escalating electricity purchase agreement for the Lièvre hydro-electric portfolio, boasting a capacity of 263 MW. The agreement is part of Hydro-Québec's strategy to boost renewable energy supply amid rising demand, contributing approximately 1.5 TWh annually, enough to power around 90,000 homes. Deliveries started on December 31, 2021, making this a key strategic partnership for both companies.
Brookfield Renewable has acquired Urban Grid for $650 million, adding a pipeline of 20,000 megawatts in solar and energy storage projects across 12 states. This acquisition nearly triples Brookfield's U.S. development capacity to about 31,000 megawatts, positioning it as one of the largest clean power developers in the nation. Urban Grid will retain its brand and continues its operations as an independent power producer, enhancing Brookfield's development capabilities and market access.
Brookfield Renewable (NYSE: BEP) will host its Fourth Quarter 2021 Conference Call on February 4, 2022, at 9:00 a.m. ET. The results will be disclosed earlier on the same day at 7:00 a.m. ET.
The conference call can be accessed by dialing 1-866-688-9430 or 1-409-216-0817 for international participants. The call will also be available via live webcast. A taped rebroadcast can be accessed until February 11, 2022.
Brookfield operates a substantial renewable power platform with approximately 21,000 megawatts of installed capacity.
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.
BROOKFIELD, Dec. 14, 2021 - Brookfield Renewable announced that the Toronto Stock Exchange accepted its intention to renew normal course issuer bids for its limited partnership units (BEP) and exchangeable subordinate voting shares (BEPC). The company is authorized to repurchase up to 13,750,520 Units and 8,610,184 Exchangeable Shares, representing 5% of the outstanding shares. Repurchases can begin on December 16, 2021, and will be subject to applicable securities laws. Brookfield Renewable aims to enhance shareholder value if their shares trade below intrinsic value.
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