Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 151

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 7
Chunk 151
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, or CORRA rate plus 180 basis points, as applicable. U. S. dollar borrowings bear interest at SOFR plus 180 basis points or at the U. S. base rate plus 80 basis points, as applicable. As atDecember 31, 2024, there were no draws on the committed unsecured revolving credit facility provided by Brookfield.

Brookfield, through a regulated subsidiary, provides certain reinsurance coverage to Brookfield Renewable through third-party commercial insurers for the benefit of certain Brookfield Renewable entities in North America. The premiums charged pursuant to these arrangements are at or lower than market rates and are held in reserve by Brookfield to be paid toward insured losses. For the year ended December 31, 2024, there were approximately $7 million of unamortized premiums to Brookfield’s regulated subsidiary (2023: approximately $8 million).

As at December 31, 2024, the aggregate and largest amount of debt outstanding during the past three-year period to Brookfield by Brookfield Renewable’s key management and other applicable personnel, including any guarantees provided by Brookfield on behalf of such personnel, was approximately $1.264 million which loans bear interest at a minimum rate of 1.6%. The purpose of such loans is to enable certain Brookfield employees to fund certain near-term expenses without monetizing previously granted equity awards under Brookfield’s long-term share ownership plan, thereby preserving long-term alignment of such employees with Brookfield.

From time to time, Brookfield and its related entities may purchase securities sold by Brookfield Renewable and its affiliates as part of public offerings of such securities. Such purchases are typically made at the market price of such securities less any underwriting fee. Similarly, from time to time Brookfield Wealth Solutions and its related entities may provide non-recourse financing to subsidiaries of Brookfield Renewable. Such financing is typically provided at market rates and as at December 31, 2024, $65 million of non-recourse borrowings was due to Brookfield Wealth Solutions (2023: $101 million) and $7 million of corporate borrowings (2023: $8 million). Brookfield Wealth Solutions has also subscribed to tax equity financing of $1 million (2023: $2 million) and preferred limited partners equity of $10 million (2023: $11 million). See Item 3. D “ Risk Factors - Risks Relating to Our Relationship with Brookfield”.

In November 2024, Brookfield Renewable, together with institutional partners, completed