Global Leader in International Renewable Industry News

posted in:

Brookfield Renewable succeeds in bid for Western Wind

Friday, Feb 22, 2013

Brookfield Renewable Energy Partners L.P. (TSX:BEP.UN) ("Brookfield Renewable") and WWE Equity Holdings Inc. (the "Offeror") today announced that the Offeror has taken up 35,443,025 common shares of Western Wind Energy Corp. ("Western Wind" or the "Company") pursuant to its all-cash offer to acquire the common shares of Western Wind for $2.60 per share (the "Offer"). The common shares taken up represent 59.7% of the common shares held by shareholders independent of Brookfield Renewable. Brookfield Renewable will now own 46,767,375 common shares of Western Wind representing 66.1% of the issued and outstanding common shares.

"We are very pleased with the successful outcome of our bid and look forward to incorporating these complementary energy assets into our renewable power portfolio," said Richard Legault, President and Chief Executive Officer of Brookfield Renewable. "This will increase our operating wind capacity in the attractive California market by 56% to nearly 430 MW, while the company's other operating and development stage assets are expected to create further value over time."

Source: Marketwire

posted in:

Other Renewable News

SPI Solar announces amendment to agreement for Mountain Creek project 24-04-2014
Accenture to help Azure Power expand its solar generation business 24-04-2014
EPIA presents the Global Market Outlook for Photovoltaics 2014-2018 at Intersolar Europe 24-04-2014
Avianca Brasil and Byogy Renewables forge initiative to drive the global approval of Alcohol-to-Jet (ATJ) renewable jet fuel 24-04-2014
Intersolar North America strengthens focus on growing energy storage market 23-04-2014
GDF SUEZ Energy Resources NA again donates renewable energy certificates to the Houston Museum of Natural Science in Honor of Earth Day 23-04-2014
3M celebrates 10-year record of EPA ENERGY STAR sustained excellence award 23-04-2014
SolarWorld powers spread of grass-roots community solar purchasing from coast to coast 23-04-2014
Canadian Solar to supply 43MW of solar modules in Japan 23-04-2014
Nice-Pak products and PDI complete largest Rooftop solar array in Rockland County 22-04-2014