Brookfield Renewable Acquires Remaining Interest in 417 MW Safe Harbor Hydroelectric Facility
16 Maggio 2014 - 12:04AM
Marketwired
Brookfield Renewable Acquires Remaining Interest in 417 MW Safe
Harbor Hydroelectric Facility
HAMILTON, BERMUDA--(Marketwired - May 15, 2014) -
All amounts in U.S. dollars
Brookfield Renewable Energy Partners L.P. (TSX:BEP.UN)(NYSE:BEP)
("Brookfield Renewable") today announced that, with its
institutional partners, it has entered into an agreement with a
wholly-owned subsidiary of Exelon Corporation, to acquire the
remaining 67% interest it did not already own in the 417 MW Safe
Harbor hydroelectric facility on the Susquehanna River in
Pennsylvania ("Safe Harbor").
"We are pleased to be acquiring the remaining interest in Safe
Harbor," said Richard Legault, President and CEO of Brookfield
Renewable. "This investment is consistent with our strategy of
owning and operating high-quality, renewable assets in power
markets with attractive long-term fundamentals."
Safe Harbor generates an average of 1,100 GWh annually and
possesses storage capabilities that support daily operations and
dispatch during peaking hours. It is one of the largest
conventional hydroelectric facilities in Pennsylvania-New
Jersey-Maryland Interconnection ("PJM"), a market which offers
multiple revenue streams including energy, capacity, ancillaries
and renewable energy credits.
The total purchase price for the transaction is approximately
$613 million subject to customary working capital adjustments, and
will be funded through available liquidity and capital from
Brookfield Renewable and its institutional partners. It is expected
that a portion of the purchase price will be funded with
non-recourse, fixed-rate financing.
The transaction, which is subject to customary closing
conditions and regulatory approvals, is expected to be completed in
the third quarter of 2014.
Brookfield Renewable Energy Partners (TSX:BEP.UN)(NYSE:BEP)
operates one of the largest publicly-traded, pure-play renewable
power platforms globally. Its portfolio is primarily hydroelectric
and totals over 6,000 megawatts of installed capacity. Diversified
across 71 river systems and 12 power markets in the United States,
Canada and Brazil, the portfolio's output is sold predominantly
under long-term contracts and generates enough electricity from
renewable resources to power more than three million homes on
average each year. With a 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 shareholders. For more information, please visit
www.brookfieldrenewable.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This Press Release contains forward-looking statements and
information, within the meaning of Canadian securities laws and
"forward-looking statements" within the meaning of Section 27A of
the U.S. Securities Act of 1933, as amended, Section 21E of the
U.S. Securities Exchange Act of 1934, as amended, "safe harbor" of
the United States Private Securities Litigation Reform Act of 1995
and in any applicable Canadian securities regulations, concerning
the business and operations of Brookfield Renewable.
Forward-looking statements may include estimates, plans,
expectations, opinions, forecasts, projections, guidance or other
statements that are not statements of fact. Forward-looking
statements in this Press Release include statements regarding an
acquisition opportunity and the expected completion of such
acquisition, the average energy generation and storage capabilities
of the assets contemplated by the acquisition and Brookfield
Renewable's access to capital and expected funding for the
acquisition. Forward-looking statements can be identified by the
use of words such as "expects", "scheduled", "estimates",
"approximately" or variations of such words and phrases, or
statements that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved. Although
we believe that our anticipated future results, performance or
achievements expressed or implied by the forward-looking statements
and information in this Press Release are based upon reasonable
assumptions and expectations, we cannot assure you that such
expectations will prove to have been correct. You should not place
undue reliance on forward-looking statements and information as
such statements and information involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements to differ materially from anticipated
future results, performance or achievement expressed or implied by
such forward-looking statements and information.
Factors that could cause actual results to differ materially
from those contemplated or implied by forward-looking statements
include, but are not limited to: the fact that we are not subject
to the same disclosure requirements as a U.S. domestic issuer; the
risk that counterparties to our contracts do not fulfill their
obligations; changes in hydrology at the hydroelectric stations we
are acquiring; our inability to complete the transaction; risks
related to the growth of our portfolio and our inability to realize
the expected benefits of the contemplated transaction; and our
ability to issue equity or debt to fund the acquisition, if
necessary, being dependent on capital markets.
We caution that the foregoing list of important factors that may
affect our business and operations is not exhaustive. The
forward-looking statements represent our views as of the date of
this Press Release and should not be relied upon as representing
our views as of any date subsequent to May 15, 2014, the date of
this Press Release. While we anticipate that subsequent events and
developments may cause our views to change, we disclaim any
obligation to update the forward-looking statements, other than as
required by applicable law. For further information on these known
and unknown risks, please see "Risk Factors" included in our Form
20-F.
Brookfield Renewable Energy Partners L.P.Zev KormanVice
President, Investor and Media
Relations416-359-1955zev.korman@brookfield.com
Grafico Azioni Brookfield Renewable Par... (TSX:BEP.UN)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Brookfield Renewable Par... (TSX:BEP.UN)
Storico
Da Lug 2023 a Lug 2024