Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 259

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 4
Chunk 259
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 global renewable energy developer headquartered in France. 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 Neoen, and, if certain conditions are met, we intend to implement a

squeeze-out procedure in order to acquire the Neoen shares not tendered to the offer, which would result in the delisting of Neoen’s shares from Euronext Paris and the delisting of the Neoen convertible bonds from Euronext Access.

Our consortium holds its interest in Neoen indirectly through a private limited company incorporated under the laws of England (“BRHL Holdco”). BRHL Holdco is a controlled subsidiary of Brookfield Renewable. BRHL Holdco director votes are weighted so that the directors appointed by each consortium member exercise a number of votes proportionate to such consortium member’s percentage interest in BRHL Holdco. We are entitled to vote a majority of the director votes provided that Brookfield Corporation and its subsidiaries (including Brookfield Renewable) collectively (i) are the largest holder of BRHL Holdco’s equity securities and (ii) hold at least 40% of BRHL Holdco’s equity securities. Brookfield Renewable currently meets this ownership test and is entitled to vote a majority of the director votes.

Neoen has an approximately 8 GW portfolio of wind, solar and BESS assets in operation or under construction located in France, Finland, Portugal, Sweden, Ireland, Italy, Australia, Mexico, El Salvador, Argentina, and Canada and an over 20 GW advanced development pipeline located in those countries as well as Germany and Ecuador.

South American Business

Colombia

Our 2016 acquisition of Isagen with our institutional partners marked our entry into the Colombian market. Our consortium’s current ownership interest in Isagen is over 99% of which our share is approximately 23%. Isagen’s principal office is located in Medellín. Isagen's Colombian National System Control Center is also located in Medellín and allows for the remote monitoring and control our assets in the country.

The consortium holds its interest in Isagen through an