Brookfield Renewable Partners
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| Public, Limited partnership | |
| Traded as | : BEP : BEP.UN |
| Industry | Electricity generation |
| Genre | Independent Power Producer |
| Headquarters | Toronto, Ontario, Canada |
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Key people
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Sachin Shah, CEO; Richard Legault, Chairman |
| Total assets | US$28 billion |
| Parent | Brookfield Asset Management |
| Subsidiaries | Great Lakes Power and Isagen S.A., among others |
| Website |
brookfield bep |
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Footnotes / references |
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Brookfield Renewable Partners L.P. is a publicly traded limited partnership that owns and operates renewable power assets, with corporate headquarters in Toronto, Canada. It is 61% owned by Brookfield Asset Management.
As of the end of 2016, Brookfield Renewable owned over 250 power facilities with more than 10,000 MW of installed capacity.
Brookfield Asset Management claims to have "more than 100 years of experience as an owner, operator and developer of hydroelectric power facilities." It was founded in the 1890s in Brazil, where the company installed the first electrical lights and tramways in São Paulo and Rio de Janeiro.
The company was established as Brookfield Renewable Energy Partners in 2011, when Brookfield Asset Management combined the hydroelectric stations and wind farms of the Brookfield Renewable Power Fund with those of Brookfield Renewable Power Inc. The company changed its name to Brookfield Renewable Partners in 2016.
Brookfield Renewable Power Fund originated as the Great Lakes Hydro Income Fund before changing its name in 2009. Brookfield used its majority stake in Great Lakes Power as its primary vehicle to advance its interests in the renewable energy sector. When Great Lakes Hydro Income Fund completed its initial public offering on the in 1999, Brookfield Asset Management (then known as EdperBrascan) owned 61% of outstanding units through its various subsidiaries. Initially, Great Lakes Hydro's assets were limited to three hydroelectric facilities in Western Quebec with a combined capacity of 238MW. By the end of 2008, the fund owned and operated 27 hydroelectric facilities and one wind farm with a cumulative capacity of 1,021MW. These assets were spread across four jurisdictions: Ontario, Quebec, British Columbia, and New England.
Brookfield Renewable Power Inc. was a wholly owned subsidiary of Brookfield Asset Management with a 50.01% share in Brookfield Renewable Power Fund. It was the subsidiary in which Brookfield Asset Management held all of its renewable energy assets, whereas the Brookfield Renewable Power Fund's scope was limited to the 1,652MW of generation capacity located in Ontario, Quebec, British Columbia, and New England.
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