Brookfield Renewable Power Fund

Brookfield Renewable Power Fund
Brookfield Renewable Power Inc.

Brookfield Renewable Power Inc.

October 13, 2010 16:14 ET

Brookfield Renewable Power Fund and Brookfield Renewable Power Inc. Announce Secondary Offering of Fund Units

TORONTO, ONTARIO and GATINEAU, QUEBEC--(Marketwire - Oct. 13, 2010) -


Brookfield Renewable Power Fund (the "Fund") (TSX:BRC.UN) and Brookfield Renewable Power Inc. ("BRPI") today announced a bought-deal secondary offering, with a syndicate of underwriters led by CIBC and Scotia Capital Inc., through which BRPI, the selling unitholder, has agreed to sell 7,000,000 of its Fund units at an offering price of $21.85 per unit. The Underwriters have been granted an over-allotment option to purchase up to an additional 1,000,000 units at the offering price, under the same terms, exercisable for a period of 30 days from closing of the Offering.

BRPI and its affiliates currently own 45,190,838 Fund units or approximately 41.5% of the Fund's units on a fully-exchanged basis. Upon the completion of the offering, but before giving effect to the over-allotment option, it is anticipated that BRPI will own 38,190,838 Fund units directly and indirectly, representing approximately 35.1% of the Fund's units on a fully-exchanged basis, and remain its largest unitholder.

The proceeds from the offering will provide BRPI with additional liquidity.

The Fund will continue to be administered and managed by BRPI and remain Brookfield Asset Management Inc.'s exclusive vehicle for Canadian contracted operating and construction-ready hydro and wind power generation facilities.

A preliminary short-form prospectus relating to the offering will be filed shortly with Canadian securities regulatory authorities. Closing of the offering is expected to occur on or about October 29, 2010 and is subject to certain conditions, including customary regulatory approvals. The Fund will not receive any proceeds from this offering, the costs of which will be borne by BRPI.

This news release shall not constitute an offer of securities for sale in the United States. The units of the Fund offered will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold into the United States absent registration or an exemption from registration. There shall not be any public offering of the units of the Fund in the United States.


Certain information regarding BRPI contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. The words "agreed", "will" and "expected" which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking statements. Forward-looking statements in this press release include statements regarding the secondary offering of Fund units by BRPI, BRPI's ownership of the Fund following closing and BRPI's use of proceeds from the offering. Although BRPI believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, it can give no assurance that such expectations will prove to have been correct. The reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of BRPI to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: the risk that the offering does not close, the behaviour of financial markets including fluctuations in interest and exchange rates, and other risks and factors detailed from time to time under the heading "Risk Factors" in BRPI's Annual Information Form filed with the securities regulators in Canada . We caution that the foregoing list of important factors that may affect future results is not exhaustive. Except as required by law, BRPI undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

About Brookfield Renewable Power Fund

Brookfield Renewable Power Fund ( is a premier Canadian income fund and one of the largest power income funds in North America with more than 1,700 megawatts of power generating capacity and average annual production exceeding 6,500 gigawatt hours.

The Fund produces electricity exclusively from environmentally friendly and renewable resources. The Fund indirectly owns or holds interests in 42 high quality hydroelectric generating stations and two wind farms in four distinct geographic regions across North America: Quebec, Ontario, British Columbia and New England.

Brookfield Renewable Power Inc., which comprises all of the power operations of Brookfield Asset Management, owns approximately 42% of the Fund's outstanding units on a fully-exchanged basis. The Fund's Units are listed for trading on the TSX under the symbol BRC.UN.

About Brookfield Renewable Power Inc.

Brookfield Renewable Power Inc., wholly-owned by Brookfield Asset Management Inc., has more than 100 years of experience as an owner, operator and developer of hydroelectric power facilities. Its total portfolio includes more than 165 generating facilities with approximately 4,200 megawatts of capacity. It also has a significant hydroelectric and wind project pipeline. Brookfield Renewable Power's operations are primarily located in North America and Brazil. Brookfield Asset Management Inc., focused on property, power and infrastructure assets, has over US$100 billion of assets under management and is listed on the New York and Toronto Stock Exchanges under the symbols BAM and BAM.A, respectively, and on Euronext Amsterdam under the symbol BAMA. For more information, please visit Brookfield Renewable Power's website at and Brookfield Asset Management's website at

Brookfield Renewable's registered and head office is at P.O. Box 762, Brookfield Place, 181 Bay Street, Suite 300, Toronto, Ontario, Canada, M5J 2T3.

For more information, please visit

Contact Information

  • Brookfield Renewable Power Fund
    Zev Korman
    Director, Investor Relations and Communications
    (416) 359-1955