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Brookfield Renewable Energy buying wind portfolio  

Credit:  Associated Press | March 25, 2014 | msn.com ~~

Brookfield Renewable Energy Partners LP is buying the wind power portfolio of Ireland’s Bord Gais Energy for up to about $280 million.

Under terms of the deal announced Tuesday, Brookfield will also assume about $680 million in debt.

Brookfield Renewable’s president and CEO, Richard Legault, said in a statement on Tuesday that the transaction will help it gain entry into the European market.

The wind portfolio includes 321 megawatts of operating wind capacity across 17 wind projects in eight counties in Ireland and Northern Ireland. The portfolio has an additional 125 megawatts currently in construction and an approximate 300 megawatt wind development pipeline.

“This first acquisition outside the Americas provides us with a strong foundation to build a scalable renewable energy business in Europe,” Legault said.

The deal is expected to close in the second quarter.

Brookfield Renewable is based in Bermuda.

Source:  Associated Press | March 25, 2014 | msn.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments to query/wind-watch.org.

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