Brookfield Renewable completes acquisition of Bord Gáis Wind Energy business

Brookfield Renewable Energy Partners L.P. and its institutional partners have completed the previously announced acquisition of the wind energy assets of Bord Gáis Éireann.

The portfolio, in which Brookfield Renewable maintains an economic interest of approximately 40%, comprises 321MW of operating wind capacity across 17 wind projects in eight counties in Ireland and Northern Ireland. With an additional 137 MW in construction and a development pipeline of approximately 300 MW wind, the portfolio is also well positioned for future growth.

Brookfield Renewable Energy Partners L.P. has been quite active during the last month. In late May we published that the company had entered into an agreement with a wholly-owned subsidiary of Exelon Corporation, to acquire the remaining 67% interest it did not already own in the 417MW Safe Harbor hydroelectric facility on the Susquehanna River in Pennsylvania. The total purchase price for the transaction is approximately US$613 million

On 10 June 2014 we reported that Brookfield Renewable Energy Partners L.P. had agreed to issue 10,250,000 limited partnership units on a bought deal basis, to a syndicate of underwriters at a price of US$31.70 per L.P. unit, for gross proceeds of approximately US$325 million.

Brookfield Renewable Energy Partners operates one of the largest publicly-traded, pure-play renewable power platforms globally. Its portfolio is primarily hydroelectric and totals over 6,700MW of installed capacity. Diversified across 72 river systems and 13 power markets in the United States, Canada, Brazil and Europe, the portfolio’s output is sold predominantly under long-term contracts and generates enough electricity from renewable resources to power more than three million homes on average each year.