Brookfield owns and operates an almost 65,000 MW diversified portfolio of renewables in the
One of the largest clean power businesses in the country
Brookfield, News,
Brookfield Renewable has agreed to acquire Scout Clean Energy (“Scout”) for
Brookfield Renewable also announces today the closing of its acquisition of Standard Solar for consideration of
Both Scout and Standard Solar will continue to operate as independent businesses within the Brookfield Renewable
“We are thrilled to be putting more dollars to work in our
“Scout is pleased to be sponsored going forward by an industry-leading partner to help Scout continue to grow our rapidly expanding pipeline of wind, solar and battery storage projects across
“Through this acquisition, which provides additional large-scale access to capital, Standard Solar is poised for massive growth, enabling us to contribute in an even more significant way to the clean energy transition. We’re looking forward to joining the Brookfield Renewable portfolio, one of the world’s largest renewable energy platforms. Our two companies share a mutual passion for renewables and company cultures that recognize and amplify excellence and equity - we are the ideal match.”
The Scout and Standard Solar acquisitions follow a string of recent clean energy investments by Brookfield Renewable in
- Urban Grid:
$650 million acquisition of a leading solar and battery storage developer with a high quality development pipeline of 20,000 MW of utility-scale solar and energy storage projects across key markets in theU.S. including the mid-Atlantic , Midwest and Southeast. - Carbon Capture and Sequestration: Exclusive right to invest up to
$750 million on a project by project basis intoEntropy Inc. and a joint venture withCalifornia Resource Corporation , two leading carbon capture and sequestration platforms inAlberta andCalifornia , respectively.
Taken together, the
Media contacts
| Brookfield: | Scout: | Standard Solar |
+44 (0)7398 909278 [email protected] |
+1 901-331-0779 [email protected] |
+1 703-907-0010 [email protected] |
Investor Relations
| Brookfield: |
+1 416 649 8196 [email protected] |
About Brookfield Renewable
Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 24,000 MW of installed capacity and an approximately 100,000 MW development pipeline. Investors can access its portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation.
Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately $750 billion of assets under management.
About Scout Clean Energy
Scout Clean Energy is a renewable energy developer and owner-operator headquartered in
About Standard Solar
Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 18 years of sustainable growth and in-house funding and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns approximately 500 MW of operating and under construction contracted assets across
Cautionary Statement Regarding Forward-looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Forward-looking statements can be identified by the use of words such as “will”, “expected”, “intend”, “potential”, “can” or variations of such words and phrases. Forward-looking statements in this news release include statements regarding the parties’ future expectations, beliefs, plans, objectives, financial condition, assumptions or future events or performance, including with respect to the development of Scout Clean Energy’s or Standard Solar’s pipeline and the ability of the parties to optimize value of that pipeline. Although Brookfield Renewable believes that such forward-looking statements and information are based upon reasonable assumptions and expectations, no assurance is given 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, including the ability of the parties to realize the expected benefits of the acquisition of Scout Clean Energy or Standard Solar, which may cause the actual results, performance or achievements of Brookfield Renewable to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.
Except as required by law, Brookfield Renewable does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether written or oral, whether as a result of new information, future events or otherwise.
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