Brookfield Renew Stock Price, News & Analysis

Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC) has announced its Third Quarter 2024 Conference Call and Webcast, scheduled for Friday, November 8, 2024, at 8:30 a.m. ET. The company will release its results on the same day at approximately 7:00 a.m. ET, which will be available on their website under 'Press Releases'.

Brookfield Renewable operates one of the world's largest publicly traded platforms for renewable power and sustainable solutions. Their portfolio includes:

• Hydroelectric, wind, utility-scale solar, and storage facilities across multiple continents
• Over 34,000 megawatts of operating capacity
• Approximately 200,000 megawatts in development pipeline
• Investments in Westinghouse and a utility and independent power producer in the Caribbean and Latin America
• Development pipeline for carbon capture and storage, agricultural renewable natural gas, and materials recycling

Investors can access the portfolio through Brookfield Renewable Partners L.P. or Brookfield Renewable

Masdar, a UAE-based clean energy company, announced its proposed acquisition of Saeta Yield from Brookfield Renewable for $1.4 billion. Saeta, an independent developer of renewable power assets, will add 745 MW of wind and solar assets and a 1.6 GW development pipeline in Spain and Portugal to Masdar's portfolio. This acquisition aligns with Masdar's goal to achieve 100 GW of global capacity by 2030. The transaction, one of the largest renewable energy deals in Spain and Portugal, is subject to customary approvals and expected to close by the end of 2024. Brookfield will retain a regulated portfolio of 350 MW of concentrated solar power assets. The sale supports Brookfield's asset rotation strategy to fund growth activities. Masdar's acquisition demonstrates its commitment to accelerating the energy transition in Europe, complementing its recent partnership with Endesa for 2.5 GW of renewable energy assets in Spain.

CDPQ, a global investment group, has announced an agreement with Brookfield Asset Management (NYSE: BAM) and its partners to acquire a 25% stake in First Hydro Company, a critical electricity generation and storage facility in the United Kingdom. First Hydro operates two power plants in Wales, offering a capacity of over 2,000 MW, representing 76% of the UK's total pumped hydro storage. This infrastructure is important for the country's increasing grid flexibility and stability needs.

The investment marks CDPQ's first venture into pumped hydro storage, partnering with Engie, which owns the remaining 75%. Emmanuel Jaclot, CDPQ's Executive VP and Head of Infrastructure, highlighted First Hydro's critical role in managing the UK's national electricity system and meeting net zero commitments. The financial close is expected by the end of 2024, subject to customary conditions and approvals.

Brookfield Asset Management (NYSE: BAM, TSX: BAM) has announced a strategic funding partnership with Infinium, committing to invest up to $1.1 billion to accelerate the growth of Infinium's eFuels platform. The investment includes $200 million in Infinium and its Project Roadrunner in West Texas, with up to an additional $850 million for global eFuels projects deployment. Infinium's eFuels, including eSAF (sustainable aviation fuel), can reduce lifecycle greenhouse gas emissions by approximately 90% or more compared to conventional fuels.

The investment will be made through Brookfield's Global Transition Fund and marks its first direct investment in sustainable aviation fuel. Infinium recently secured a deal with American Airlines to supply commercial volumes of eSAF starting in 2026. Project Roadrunner will also produce eNaphtha for plastics manufacturing and eDiesel for long-haul trucking and maritime applications.

Brookfield Renewable Partners (NYSE: BEP) reported robust Q2 2024 results, with Funds From Operations (FFO) rising 9% YoY to $339 million ($0.51 per unit). Despite a net loss of $154 million for the quarter, driven by non-cash expenses, BEP advanced its growth initiatives, deploying $8.6 billion in capital and securing contracts for 2,700 GWh of additional generation. Key accomplishments include commissioning 1,400 MW of new capacity, executing $400 million in asset sales, and maintaining $4.4 billion in liquidity.

Significant investments were made, including acquiring a 53% stake in Neoen and investing in Leap Green in India. BEP also expanded into South Korea, targeting battery energy storage projects. Its diverse portfolio boasts over 230,000 MW in development, positioning it as a leading clean power provider. The company declared a quarterly distribution of $0.355 per unit, payable on September 27, 2024. BEP continues to target a 10%+ FFO per unit growth for 2024.

Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP) announced that no Class A Preference Shares, Series 3 (TSX: BRF.PR.C) of Brookfield Renewable Power Preferred Equity Inc. will be converted into Class A Preference Shares, Series 4. This decision was made after evaluating election notices received by the July 16, 2024 deadline, as the number of Series 3 Shares tendered for conversion would result in fewer than the required 1,000,000 Series 4 Shares outstanding on July 31, 2024.

Brookfield Renewable operates a global platform for renewable power and sustainable solutions, with a portfolio including hydroelectric, wind, solar, and storage facilities across multiple continents. The company's operating capacity is nearly 34,000 megawatts, with a development pipeline of approximately 157,000 megawatts. Investors can access the portfolio through Brookfield Renewable Partners L.P. or Brookfield Renewable

Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC) has announced the issuance of C$400 million in green bonds. This includes C$100 million of Series 17 Notes due 2054 with a 5.417% interest rate, and C$300 million of Series 18 Notes due 2034 with a 4.959% interest rate. The Series 18 Notes mark Brookfield Renewable's fourteenth green-labeled corporate securities issuance in North America. Proceeds will fund Eligible Investments as defined in their Green Financing Framework. The Notes have been rated BBB+ by S&P Global Ratings, BBB (high) by DBRS , and BBB+ by Fitch Ratings. The offering is expected to close around July 17, 2024, subject to customary conditions.

Brookfield Renewable Partners announced a reset dividend rate for its Class A Series 3 Preference Shares, commencing August 1, 2024. The fixed quarterly dividends will be paid at an annual rate of 6.519%, which amounts to $0.4074375 per share per quarter. Shareholders have the option to convert their Series 3 Shares into Series 4 Shares by July 16, 2024, which will offer a floating quarterly dividend rate of 2.940% over the three-month Government of Canada treasury bills yield, starting at $0.478840 per share for the initial period. If fewer than 1,000,000 Series 3 or Series 4 Shares remain outstanding after July 31, 2024, automatic conversions will occur. The Series 4 Shares will be listed on the TSX under the symbol BRF.PR.D, pending regulatory approval.

Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC) announced it will hold its Second Quarter 2024 Conference Call on August 2, 2024, at 9:00 a.m. ET. The results will be released on the same day at 7:00 a.m. ET and will be available on their website. The company operates a vast renewable power portfolio, including hydroelectric, wind, solar, and energy storage, totaling nearly 34,000 megawatts in capacity, with a development pipeline of approximately 157,000 megawatts. Brookfield Renewable's assets also span carbon capture, renewable natural gas, and materials recycling.

Participants can join the call via pre-registration to receive a direct passcode and unique PIN or via webcast registration. Brookfield Renewable is part of Brookfield Asset Management, which manages over $925 billion in assets globally.