Brookfield Renewable completes acquisition of 351 MW hydroelectric portfolio
Monday, Mar 04, 2013Brookfield 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.