Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 244

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 4
Chunk 244
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located battery development projects for $166 million ($33 million net to Brookfield Renewable) with the opportunity to invest an incremental $408 million ($82 million net to Brookfield Renewable). The transaction is subject to customary closing conditions.

• In November 2024, Brookfield Renewable, together with institutional partners, acquired a 67% interest in a leading U. K. based distributed generation developer with approximately 200 MW of operating assets and a 450 MW development pipeline in the U. K. for approximately $160 million (approximately $32 million net to Brookfield Renewable). Brookfield Renewable holds an approximately 13% interest.

• In December 2024, Brookfield Renewable, together with institutional partners, entered into a strategic partnership with a leading eFuels manufacturer, to invest up to $1.1 billion (approximately $220 million net to Brookfield Renewable), consisting of a $200 million upfront structured equity investment, including the construction of a production facility in West Texas, and an exclusive right to invest up to $850 million in future projects that meet certain investment criteria.

• In December 2024, Brookfield Renewable, together with institutional partners, acquired an approximately 53% controlling stake in Neoen, a leading global renewable energy developer headquartered in France with 8 GW of operating and in construction renewable power and energy storage assets, as well as a 20 GW development pipeline, for proceeds of $3.4 billion (expected $269 million net to Brookfield Renewable). The purchase price implies a total acquisition price of approximately $6.4 billion on a 100% basis (expected $512 million net to Brookfield Renewable). In January 2025, during the pre-offer period, our consortium acquired an additional approximately 14% stake in Neoen on the open market, bringing its total interest in Neoen to approximately 67%. In February 2025, we launched a mandatory cash tender offer for the remaining shares and convertible bonds of Neoen. The mandatory cash tender offer is expected to close in March 2025. As of the date of this Form 20-F, Brookfield Renewable, together with institutional partners, holds an approximately 85% equity interest in the target, and, if certain conditions are met, we intend to implement a squeeze-out procedure in order to acquire the target shares not tendered to the offer, which would result in the delisting of Neoen.

• In December 2024, Brookfield Renewable, together with institutional partners, acquired a 12.45% interest in a