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Sept. 29, 2022, 8:27 a.m. EDT

Brookfield Renewable Partners buys pair of renewable portfolios for up to $2 bln investment

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By Steve Gelsi

Brookfield Renewable Partners LP /zigman2/quotes/207305210/composite BP +0.83% /zigman2/quotes/219664431/composite BEPC +0.50% /zigman2/quotes/219760708/delayed CA:BEPC +0.18% said Thursday it will invest up to $2 billion in two renewable energy portfolios in the U.S. Brookfield Renewable will pay $1 billion and invest an additional $270 million to acquire Scout Clean Energy, which owns more than 1,200 MW of operating wind assets and a pipeline of over 22,000 MW of wind, solar and storage projects in 24 states. Brookfield Renewable also announced the acquisition of Standard Solar for $540 million with the potential to invest an additional $140 million to support business' growth initiatives. Standard Solar has about 500 MW of operating and under construction contracted assets and a development pipeline of about 2,000 MW, as well as "significant growth opportunities across several high value solar markets in the U.S., such as New York, Maryland, Minnesota and Maine," the company said. Brookfield Renewable Partners shares are down 10.6% in 2022 compared to a 22% loss by the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.03% .

/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 35.27
+0.29 +0.83%
Volume: 3.51M
Nov. 25, 2022 1:10p
P/E Ratio
N/A
Dividend Yield
3.84%
Market Cap
$106.88 billion
Rev. per Employee
$3.38M
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/zigman2/quotes/219664431/composite
US : U.S.: NYSE
$ 32.32
+0.16 +0.50%
Volume: 183,702
Nov. 25, 2022 1:10p
P/E Ratio
17.20
Dividend Yield
3.96%
Market Cap
$11.69 billion
Rev. per Employee
N/A
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/zigman2/quotes/219760708/delayed
CA : Canada: Toronto
$ 43.41
+0.08 +0.18%
Volume: 71,523
Nov. 25, 2022 4:00p
P/E Ratio
17.64
Dividend Yield
3.93%
Market Cap
$15.64 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
4,026.12
-1.14 -0.03%
Volume: 0.00
Nov. 25, 2022 2:32p
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