Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 258

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 4
Chunk 258
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In September 2024, together with institutional partners, we sold our 25% stake in First Hydro.

Italy

Our Italian business includes two solar PV projects under development in Italy with total capacity of approximately 134 MW. These were acquired under the framework development agreement signed in 2021 pursuant to which a developer in Italy will present us with the opportunity to invest in up to 500 MW of renewable power development opportunities in Italy.

Germany

Our German business includes a utility-scale solar development platform with an approximately 3,600 MW development pipeline.

X-Elio

X-Elio is a global solar development platform headquartered in Madrid. X-Elio’s diversified portfolio includes over 2,200 MW of operating and under-construction assets located in Spain, Germany, Mexico, Australia, Chile, the United States, Italy, Japan and Honduras. X-Elio also has a pipeline of approximately 13,300 MW of utility-scale solar in Spain, Germany, the United States, Australia, Italy, Japan and Latin America which includes a mix of advanced and early-stage projects. X-Elio has also begun developing an approximately 9,600 MW BESS pipeline in Australia, Germany, Italy, Spain, Japan, the United States and Latin America.

Powen

In 2024 we, together with institutional partners, increased our equity interest in Powen from 44% to approximately 50% (approximately 10% net to Brookfield Renewable). Powen is a DG solar development business in Spain with approximately 1,300 MW of operating and development assets located in Spain, Mexico, Portugal and the U. K.

Polenergia

Brookfield Renewable, together with institutional partners, holds a 32% (8% net to Brookfield Renewable) equity interest in Polenergia, a large-scale renewable business in Poland. The investment represents an attractive entry into the offshore wind sector in Europe through its 3,000 MW offshore wind development pipeline, which we expect to be constructed together with our joint venture partner, an experienced offshore wind developer.

Polenergia’s operating portfolio is comprised of approximately 493 MW of wind generation assets and 82 MW of solar projects, and it continues to progress its over 5 GW development pipeline, of which 3 GW is offshore wind, over 2 GW is onshore wind and solar PV, and a 105 MW green hydrogen project.

Neoen

In December 2024, Brookfield Renewable, together with institutional partners, acquired an approximately 53% interest in Neoen, a leading