Bloom Impact Investing
May 16, 20233 min
Brookfield Renewable Partners is rapidly growing the new-zero energy transition with large assets in five continents. We want to tell you more about this great global asset and energy operator Bloom has invested in.
Credit: Brookfield Renewable Partners. Cohocton Wind Farm, New York
Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN) (“BEP”) operates one of the world’s largest publicly traded platforms for renewable power and decarbonisation solutions. The diversified portfolio consists of hydroelectric, wind, solar, distributed energy and sustainable solutions across five continents.
Source: Brookfield Renewable Partners, 2023
Source Link: https://www.brookfield.com/our-businesses/renewable-power-transition
Business Highlights
Fossil fuels have been a major cause of rising temperature and global warming but since our global energy system is still reliant on fossil fuels sources, transitioning old fossil fuel assets such as coal plants to renewable energy sources is a key piece if work the world needs to achieve quickly to address climate change.
Source: Regen Power
Source Link: https://regenpower.com/what-are-the-problems-faced-by-renewable-energy/
In 2022, Brookfield Renewable Partners L.P has achieved:
Revenue up 15% Year on Year to 4.71b USD
Investment is expected to be 6-7b USD in the next 5 years
Gigawatt hours (GWh) up 8% Year on Year
Source: Brookfield Renewable Partners, 2023
ESG impacts
BEP is helping the net-zero transition globally by creating a range of clean energy sources in five continents. BEP has delivered significant decarbonisation through their 25 Gigawatt of clean power production efforts. This has helped to avoid the equivalent of 100% of Austria’s national annual emissions or the same as removing 7 million vehicles from the road.
Their next giant leap will be the 110 Gigawatts of clean assets in development, which is enough to deliver decarbonisation levels equivalent to removing the annual emissions of Poland or the same as cleanly electrifying every home in Canada for a year.
Outside of Environmental impacts, they are also strong performers regarding Social and Governance areas with: strong safety targets, strong equal employments performances, 100% training on anti-bribery & corruption annually and the highest ethical standards in operation.
Source: Brookfield Renewable Partners, 2023
Source Link: https://bep.brookfield.com/sites/bep-brookfield-ir/files/brookfield/bep/presentation/brookfield-renewable-corpprofile-march-2023-vf.pdf
Origin Energy Announcement
Credit: Energy Storage & Distribution
Recently, Brookfield has made a move to acquire Origin Energy. Origin Energy is Australia’s largest integrated power generator and energy retailer with a 24% market share of the national electricity market and owner of a 27.5% stake in Australia Pacific LNG Project. This landmark transaction will accelerate decarbonisation of the energy grid and help Australia progress towards its net-zero goals.
Brookfield, its institutional partners and investors GIC and Temasek will acquire Origin’s Energy Markets business with the intention of significantly reducing Origin’s carbon emissions and invest at least $20 billion in new build renewables and storage. Brookfield is pursuing this acquisition through the Brookfield Global Transition Fund I, which is the largest private fund in the world focused on the transition to net-zero.
Brookfield Renewable, which has significant available liquidity, expects to invest up to US$750 million, which will be funded through a mix of corporate debt, upfinancings of existing hydro assets and proceeds from asset recycling initiatives. Brookfield and EIG view Origin as critical to Australia’s energy transition and energy security.
Brookfield intends to accelerate the development of renewable generation capacity for Origin Energy Markets, which is expected to make a material difference to achieving Australia’s net-zero targets at this crucial time in its energy transition. The business plan for Origin Energy Markets plans for at least $20 billion of additional investment during the next decade to construct up to 14 Gigawatts of new renewable generation and storage facilities locally. This will enable the successful retirement of one of Australia’s largest coal-fired power generation plants, Eraring. This is some investment news we can get behind.
Source: Brookfield Renewable Partners, 2023
Source Link: https://bep.brookfield.com/press-releases/bep/brookfield-and-eig-consortium-sign-binding-agreement-acquire-origin-energy
If you want to read more about the acquisition, follow this link
Sources:
https://regenpower.com/what-are-the-problems-faced-by-renewable-energy/
https://www.brookfield.com/our-businesses/renewable-power-transition