Brookfield Renewable Corp Stock Price, News & Analysis

BROOKFIELD, News, Feb. 21, 2023 – Brookfield Renewable (NYSE: BEP, BEPC) announces an updated proposal to acquire Origin Energy Limited, offering A$8.90 per share. The Consortium, including Brookfield and MidOcean Energy, aims to acquire Origin’s energy markets business, which is the largest integrated generation and retail company in Australia. The deal is contingent on signing a scheme of implementation agreement and there is no certainty of completion. Brookfield Renewable operates extensive renewable assets globally, totaling 25,400 MW in installed capacity and 110,000 MW in the development pipeline.

Brookfield Renewable Partners reported financial results for the year ended December 31, 2022, showing a net loss of $295 million. Despite the loss, FFO rose to $1.005 billion, a per unit increase of 8%. Major highlights include securing contracts for 11,000 GWh, commissioning 3,500 MW of projects expected to add $45 million to annual FFO, and a robust development pipeline of 110,000 MW. The company’s balance sheet remains strong with $3.7 billion in liquidity. Brookfield announced a quarterly distribution of $0.3375 per unit, a 5.5% increase. The outlook remains positive with continued growth in renewable energy investments and strategic partnerships.

Brookfield Renewable is scheduled to hold its Fourth Quarter 2022 Conference Call on February 3, 2023, at 8:30 a.m. ET. The company will release its financial results at approximately 7:00 a.m. ET the same day, available on their website.

Participants can join via a pre-registration conference call or a webcast. Brookfield Renewable operates one of the largest publicly traded renewable power platforms globally, with approximately 24,000 MW of installed capacity and an approximately 100,000 MW development pipeline.

BROOKFIELD, News, Dec. 14, 2022 – Brookfield Renewable has received approval from the TSX to renew normal course issuer bids for various securities, including LP Units, Preferred Units, and Exchangeable Shares. BEP can repurchase up to 13,764,352 LP Units and BEPC can buy back 8,610,905 Exchangeable Shares, both representing 5% of their respective issued amounts. The transactions aim to enhance shareholder value if securities trade below their perceived value. The bids start on December 16, 2022, and end on December 15, 2023.

Brookfield Renewable has entered into an exclusivity agreement with Origin Energy Limited to explore a potential acquisition of its energy markets business. The proposal values Origin at A$18.4 billion, based on A$9.00 per share. This initiative aims to support Australia’s energy transition by acquiring Origin’s integrated generation and retail company. The consortium, including MidOcean Energy, plans to conduct due diligence before submitting a binding proposal. Approvals from shareholders and regulatory bodies will be necessary for the deal to proceed.

Brookfield Renewable Partners announced the issuance of C$400 million in medium-term notes, Series 15, due November 9, 2032, with a 5.88% annual interest rate. The notes, fully guaranteed by Brookfield Renewable, aim to refinance existing debt for Eligible Investments. This marks Brookfield's sixth corporate-level green bond in Canada, with a closing expected on November 9, 2022. The notes received ratings of BBB+ from S&P, BBB (high) from DBRS, and BBB+ from Fitch. The offering is led by major financial institutions including BMO and CIBC.

Brookfield Renewable Partners reported strong Q3 2022 results with Funds From Operations (FFO) of $243 million, up 15% year-over-year at $0.38 per unit. Net loss attributable to Unitholders was $136 million. The company secured investments of up to $6 billion, enhancing its renewable energy portfolio, which now exceeds 60,000 megawatts in the U.S. Significant growth initiatives include a $1 billion acquisition of Scout Clean Energy and a partnership with Cameco to acquire Westinghouse for $4.5 billion, boosting its nuclear service capabilities. A quarterly distribution of $0.32 per unit is declared.

Brookfield Renewable is set to hold its Third Quarter 2022 Conference Call on November 4, 2022, at 8:30 a.m. ET. The results will be released earlier that day at around 7:00 a.m. ET, available on their website. Investors can join via conference call or webcast. This event highlights the company's strong presence in the renewable energy sector, operating approximately 24,000 MW of installed capacity and a 100,000 MW development pipeline.

Cameco Corporation and Brookfield Renewable Partners have formed a strategic consortium to acquire Westinghouse Electric Company for an enterprise value of $7.875 billion. Brookfield Renewable will own a 51% interest, while Cameco will hold 49%. This acquisition positions nuclear power at the forefront of the energy transition, leveraging each company’s expertise to create a platform for growth. Brookfield expects to invest approximately $750 million, and Cameco will adopt a diverse financing strategy to maintain liquidity. The acquisition is anticipated to close in the second half of 2023.