Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 344

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 344
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field Renewable).

Subsequent to year-end, Brookfield Renewable, together with its institutional partners, completed the acquisition of a series of development distributed generation projects in the United States totaling approximately 31 MW for total consideration of approximately $27 million (approximately $7 million net to Brookfield Renewable). Brookfield Renewable holds a 25% interest in these investments.

In January 2025 Brookfield Renewable, together with its institutional partners, acquired an additional approximately 14% stake in Neoen on the open market, during the pre-offer period, bringing our total interest to approximately 67%. In February 2025 Brookfield Renewable, together with its institutional partners 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 these annual consolidated financial statements, Brookfield Renewable, together with its institutional partners, holds an approximately 85% interest in Neoen on an as converted basis. If certain conditions are met, Brookfield Renewable, together with its institutional partners intends 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.

Brookfield Renewable, together with its institutional partners intends to finance the total tender offer for the outstanding shares and convertible bonds of Neoen, totaling €2,921 million ($3,024 million) and €481 million ($498 million) respectively as follows:

  (US MILLIONS)                                                                             
  Brookfield Renewable                                                    $             54  
  Capital contributions from participating non-controlling interests      1,897             
  Due to related parties                                                  950               
  Non-recourse borrowings                                                 621               
  Total                                                                   $          3,522  

PART 9 - PRESENTATION TO STAKEHOLDERS AND PERFORMANCE MEASUREMENT

PRESENTATION TO PUBLIC STAKEHOLDERS

Equity

Brookfield Renewable’s consolidated equity interests include (i) non-voting publicly traded LP units, held by public unitholders and Brookfield, (ii) BEPC exchangeable shares, held by public shareholders and Brookfield Holders (iii) class A.2 exchangeable shares, held by Brookfield, (iii) Redeemable/Exchangeable Limited partnership units in BRELP, a holding subsidiary of Brookfield Renewable, held by Brookfield, and (iv) the GP interest in BRELP, held by Brookfield.

The LP units, the BEPC exchange