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 Partners will host its 2021 First Quarter Conference Call on May 4, 2021, at 9:00 a.m. ET to discuss financial results and business initiatives. Results will be available at 7:00 a.m. ET on the same date. Participants can access the call by dialing 1-866-688-9430 (toll-free) and entering conference ID 6528239. The call will also be webcast live and archived for future reference. Brookfield operates a significant renewable power portfolio, including hydroelectric, wind, solar, and storage facilities, with approximately 20,000 megawatts of installed capacity.
Brookfield Renewable Partners L.P. (NYSE: BEP) announced the filing of its 2020 annual report, which includes audited financial statements for the year ending December 31, 2020. The report is available through the SEC, SEDAR, and their official websites.
Brookfield Renewable operates one of the largest renewable power platforms globally, with approximately 20,000 megawatts of installed capacity and an extensive development pipeline of about 23,000 megawatts. The company is a subsidiary of Brookfield Asset Management, which oversees around $600 billion in assets.
Brookfield Renewable Partners L.P. (NYSE: BEP) has announced the pricing of a secondary public offering of 15,000,000 class A exchangeable subordinate voting shares at $51.50 each, set to close on February 16, 2021. Brookfield Asset Management will retain a 48% equity interest post-offering. The offering will not generate proceeds for Brookfield Renewable as it involves the sale of shares by existing shareholders. A 30-day option for underwriters to purchase an additional 2,250,000 shares is also included.
Brookfield Renewable Partners L.P. (NYSE: BEP) has announced a secondary offering of 15,000,000 class A exchangeable subordinate voting shares by subsidiaries of Brookfield Asset Management. The underwriters have a 30-day option to purchase an additional 2,250,000 shares. Brookfield Renewable will not receive proceeds from this offering nor is it selling any of the shares. Each exchangeable share is intended to provide an economic return equivalent to one unit of the Partnership. The offering is subject to market conditions and a registration statement with the SEC has been filed but not yet effective.
BROOKFIELD Renewable Partners L.P. (BEP) reported strong financial results for 2020, achieving a 6% increase in Funds From Operations (FFO) to $807 million. Total generation reached 57,457 GWh, with significant contributions from hydroelectric, wind, and solar segments. The company completed key acquisitions, including Exelon Generation's DG business and Shepherds Flat wind farm, expanding its renewable portfolio. BEP also declared a quarterly distribution increase of 5%. Despite a net loss of $304 million, robust liquidity of $3.3 billion underpins growth ambitions in the renewable energy sector.
ThoughtTrace, Inc. announces the appointment of Kristina Peterson as Senior Vice President for Power and Renewables. With a background in leading significant investments in the solar sector and a career focused on power generation, Peterson aims to enhance sales and strategic guidance in the renewables market. Her experience includes a $1.4 billion investment at Brookfield Renewable Partners and transactions worth over $6 billion. This hire is part of ThoughtTrace’s strategy to drive innovation and expand its footprint in the renewables sector.
Brookfield Renewable Partners L.P. has announced key executive appointments aimed at scaling its operations and enhancing capabilities.
Mark Carney joins as Vice Chair, and Connor Teskey ascends to CEO, having previously served as Chief Investment Officer. Sachin Shah becomes CIO of Brookfield Asset Management while continuing in a Vice Chair role for Brookfield Renewable. These changes are effective immediately and are expected to drive growth and support global energy transition goals.
Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP) announced a quarterly dividend of $0.173665 per share for Series 2 floating-rate Class A Preference Shares. The dividend for the period from November 1, 2020, to January 31, 2021, will yield an annual rate of 2.756%. The payment is due on February 1, 2021. Brookfield Renewable operates a substantial renewable power portfolio, totaling approximately 19,000 megawatts of installed capacity worldwide. The company is a leader in renewable energy, supported by Brookfield Asset Management with $550 billion in assets under management.
Brookfield Renewable Partners has announced its 2020 Third Quarter Conference Call scheduled for November 5, 2020, at 9:00 a.m. ET. The results will be released at 7:00 a.m. on the same day. Investors can access the conference by dialing 1-866-688-9430 or participating via a live webcast. Brookfield Renewable operates a notable portfolio of renewable power facilities globally, totaling over 19,000 megawatts of installed capacity. The company is part of Brookfield Asset Management, managing around $550 billion in assets.
Plug Power Inc. announced a strategic agreement with Brookfield Renewable Partners L.P. (BEP) to source 100% renewable energy for its upcoming green hydrogen production plant. This facility aims to produce approximately 10 tons of green liquid hydrogen daily, contributing to Plug Power's goal of over 50% renewable hydrogen supplies by 2024. The collaboration is part of broader discussions to explore additional green hydrogen development opportunities. This partnership supports a decarbonized economy and the expected growth of the hydrogen market, projected to be worth $2.5 trillion by 2050.
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