HAMILTON, BERMUDA–(Marketwire – March 1, 2013) – Brookfield Renewable Energy Partners L.P. (TSX:BEP.UN) (“Brookfield Renewable“) today announced the completion of the previously announced acquisition of a 351 MW hydroelectric portfolio from a subsidiary of NextEra Energy Resources, LLC.
The portfolio consists of 19 hydroelectric facilities and eight upstream storage reservoirs primarily on the Kennebec, Androscoggin and Saco rivers in Maine, with an expected average generation of approximately 1.6 million megawatt hours annually.
The acquisition complements Brookfield Renewable’s existing portfolio and operating platform and increases its footprint in the New England market to nearly 1,300 MW of installed capacity.
As previously disclosed, Brookfield Renewable expects to have institutional partners co-invest alongside it for up to 50% of the portfolio through a private fund sponsored by Brookfield Asset Management.
Brookfield Renewable Energy Partners (TSX:BEP.UN) operates one of the largest publicly-traded, pure-play renewable power platforms globally. Its portfolio is primarily hydroelectric and totals more than 5,600 megawatts of installed capacity. Diversified across 69 river systems and 11 power markets in the United States, Canada and Brazil, the portfolio generates enough electricity from renewable resources to power more than two million homes on average each year. With a virtually fully-contracted portfolio of high-quality assets and strong growth prospects, the business is positioned to generate stable, long-term cash flows supporting regular and growing cash distributions to unitholders. For more information, please visit www.brookfieldrenewable.com.