Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 257

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 4
Chunk 257
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 the investment vehicle has agreed to invest up to C$200 million in the business which could result in a fully drawn post-money valuation of approximately one and a half times our entry point.

European Business

The principal office of our European operations is located in London, in the U. K.

Spain

Our Spanish business includes 350 MW of CSP capacity. The principal revenues generated by our Spanish business’ CSP assets in Spain are received pursuant to a regulated return that is set by Spanish legislation. 200 MW of our CSP assets in Spain are entitled to a regulated rate of 7.39% through December 31, 2031, and 150 MW of CSP assets are entitled to a regulated return rate of 7.09% through December 31, 2025. The regulated return rate is set every six years. In December 2024, together with institutional partners, we sold our Spanish and Portuguese wind and conventional PV solar portfolio.

United Kingdom

Our U. K. business includes a 10 MW solar facility located in England, OnPath Energy, a fully integrated renewables developer, a 67% interest in a 200 MW commercial and residential rooftop solar portfolio and a 12.45% stake in a 3.5 GW offshore wind portfolio.

OnPath Energy is a leading independent renewable energy development business in the U. K. with more than 200 MW of operating assets and a development pipeline of approximately 3.9 GW across onshore wind and BESS technologies, growing our presence in this attractive market.

In November 2024, together with institutional partners, we acquired a 67% equity interest in Provenance Power (formerly Atrato Onsite Energy) a leading commercial and residential rooftop solar platform in the U. K. with total capacity of approximately 200 MW and approximately 450 MW of development capacity.

In December 2024, together with institutional partners, we acquired 12.45% minority stakes (3% net to Brookfield Renewable) in four of Ørsted’s operational U. K. offshore wind farms, Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension, which have a combined total capacity of approximately 3.5 GW. Ørsted will continue to oversee the operation and maintenance of the wind farms, all of which are under long-term inflation-linked contracts for difference (CfD). We consider these assets as critical to supplying the U. K. with renewable power and supporting the country’s decarbonization objectives