Brookfield Renewable Completes Acquisition of 378 MW Hydroelectric Portfolio
HAMILTON, BERMUDA, Nov 15, 2012 (Marketwire via COMTEX) --
Brookfield Renewable Energy Partners L.P. (TSX:BEP.UN) ("Brookfield Renewable") and its institutional partners have completed the previously announced acquisition of a 378 MW hydroelectric portfolio from Alcoa Power Generating Inc.
The portfolio consists of four generating stations on the Little Tennessee and Cheoah Rivers in eastern Tennessee and western North Carolina. All output from the facilities is contracted through June 2014 to the Tennessee Valley Authority.
The portfolio benefits from one of the lowest operating costs in the region, and in 2005 was granted a 40 year operating license by the Federal Energy Regulatory Commission.
Brookfield Renewable Energy Partners (TSX:BEP.UN) operates one of the largest publicly-traded, pure-play renewable power platforms globally. Its portfolio is primarily hydroelectric and totals approximately 5,300 megawatts of installed capacity. Diversified across 69 river systems and 11 power markets in the United States, Canada and Brazil, the portfolio generates enough electricity from renewable resources to power more than two million homes on average each year. With a virtually fully-contracted 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 unitholders. For more information, please visit www.brookfieldrenewable.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Brookfield Renewable Energy Partners L.P.
Director, Investor Relations
Media Contact: Brookfield Renewable Energy Partners L.P. Julie Smith-Galvin, Director, Corporate Communications 508-251-7708 email@example.com www.brookfieldrenewable.com
SOURCE: Brookfield Renewable Energy Partners L.P.
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