Brookfield Renewable Partners, the flagship listed renewable power company of Brookfield Asset Management, has issued 8 million green perpetual class A preferred limited partnership units for $200 million.
Brookfield said it intends to use the net proceeds to finance or refinance investments made in renewable power generation assets or businesses, and to support the development of clean-energy technologies.
According to the company, holders of the Series 17 preferred units will be entitled to receive a cumulative quarterly fixed distribution of 5.25 percent for each year used. The units will be listed on the New York Stock Exchange under the symbol “BEP PR A.”
In connection with this issuance, Brookfield has broadened the scope of its green bond framework to include preferred securities. Brookfield has completed a total of $2.6 billion in green financing initiatives over the past two years.
