Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 152

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 7
Chunk 152
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 the sale of a 95 MW utility-scale under construction solar development asset in Germany to an affiliate of Brookfield for proceeds of approximately $81 million ($16 million net to Brookfield Renewable).

In December 2024, Brookfield Renewable, together with institutional partners, completed the sale of a 50% interest in a 845 MW portfolio of wind assets in the U. S. for approximately $380 million (approximately $95 million net to Brookfield Renewable), of which 25% was sold to an affiliate of Brookfield at a value equivalent to what was agreed to with the third party that acquired the other 25% interest in the portfolio as part of the transaction. Brookfield Renewable maintains control of the portfolio following the partial sale.

Brookfield Renewable from time to time may enter into sale agreements with Brookfield and its subsidiaries to transfer income tax credits generated by renewable energy projects. These agreements are typically entered into at market rates. During the year ended December 31, 2024, Brookfield Renewable sold $131 million (2023: nil) of income tax credits to Brookfield and its subsidiaries. See Item 3. D “ Risk Factors - Risks Relating to Our Relationship with Brookfield”.

RELATIONSHIP WITH BEPC

Each BEPC exchangeable share is structured with the intention of providing an economic return equivalent to one LP unit (subject to adjustment to reflect certain capital events), including identical dividends on a per share basis as are paid on each LP unit, and is exchangeable at the option of the holder for one LP unit (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BEPC). The partnership and BEPC expect that the market price of BEPC exchangeable shares will be impacted by the market price of the LP units and the combined business performance of our group as a whole. The partnership holds a 75% voting interest in BEPC through its holding of class B shares which also entitle the partnership to all of the residual value in BEPC after payment in full of the amount due to holders of BEPC exchangeable shares. The partnership’s ownership of the class B shares entitles the partnership to receive dividends as and when declared by the board, subject to the holders of BEPC exchangeable shares receiving the dividends to which they are entitled, but it is not expected that meaningful dividends will be paid on the class B shares in the ordinary course.

Credit Support

Certain subsidiaries of BEPC fully and unconditionally guarantee (i