La cadena de opciones muestra datos clave de las opciones de acciones de Brookfield Renewable a varios precios de ejercicio y fechas de vencimiento. Los operadores utilizan esta información para analizar posibles operaciones y evaluar el sentimiento del mercado para Brookfield Renewable..

Brookfield Renewable (NYSE:BEP) Bolsa, Cadena de Opciones

Brookfield Renewable

Brookfield Renewable is a globally diversified, multitechnology owner and operator of clean energy assets. The company's portfolio consists of hydroelectric, wind, solar, and storage facilities in North America, South America, Europe, and Asia and totals over 20 gigawatts of installed capacity. Brookfield Renewable invests in assets directly, as well as with institutional partners, joint venture partners, and through other arrangements. The company offers two separate listings for investors: Brookfield Renewable Partners and Brookfield Renewable Corp.

Brookfield Renewable Partners L.P. Limited Partnership Units

Brookfield Renewable Partners LP

Brookfield Renewable Corporation Class A Subordinate Voting Shares

Brookfield Renewable Corp

Brookfield BRP Holdings (Canada) Inc. 4.625% Perpetual Subordinated Notes

Brookfield BRP Holdings (Canada) Inc. 4.875% Perpetual Subordinated Notes

Brookfield BRP Holdings (Canada) Inc. 7.250% Perpetual Subordinated Notes

BEPRO Network

Beach Energy Ltd

Brookfield Renewable Partners L.P. 5.25% Class A Preferred Limited Partnership Units, Series 17

<ul>
<li>10-year PPA to deliver power from Argo and Brookfield's Smoky Mountain Hydro Facilities located in east Tennessee and western North Carolina</li>
<li>The hydro facilities will provide 377 MW of reliable, clean energy to meet demand growth in TVA's service territory</li>
<li>The PPA will support TVA's energy transition goal to achieve net-zero by 2050</li>
</ul>
Tennessee Valley Authority ("TVA") together with Argo Infrastructure Partners, LP ("Argo") and Brookfield Asset Management ("Brookfield") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>, TSX:<a class="ticker" href="https://www.benzinga.com/stock/BAM#TSX">BAM</a>), with its listed affiliate Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>, BEPC, TSX:<a class="ticker" href="https://www.benzinga.com/stock/BEP#TSX">BEP</a>, BEPC))) today announced the signing of a landmark 10-year power purchase agreement ("PPA") with power to be delivered by the Cheoah, Calderwood, Chilhowee and Santeetlah dams, together known as the Smoky Mountain Hydroelectric facilities ("Smoky"), which is jointly owned by Argo and Brookfield.
This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20241119725256/en/">https://www.businesswire.com/news/home/20241119725256/en/</a>
Smoky will begin delivering power through the PPA starting in 2025 and over the next decade, will supply more than 14 gigawatt hours of carbon-free energy to TVA customers, advancing TVA's transition towards its 2050 net-zero goal.
Smoky currently owns and operates a 377-megawatt portfolio of four hydroelectric power facilities across east Tennessee and western North Carolina. This portfolio generates an annual average of 1.4 million megawatt-hours of carbon-free energy—equivalent to approximately 1.1 million tons of CO2 emissions avoided each year.

News

Contracts

TSX:BAM

TSX:BEP

Tennessee Valley Authority Together With Argo Infrastructure Partners And Brookfield Asset Management, With Its Listed Affiliate Brookfield Renewable Announces The Signing Of A Landmark 10-Year PPA With Power To Be Delivered By The Smoky Mountain Hydroelectric Facilities, Which Is Jointly Owned By Argo And Brookfield

Earnings

Earnings Beats

Earnings Misses

Brookfield Renewable Q3 2024 FFO $0.42 Misses $0.43 Estimate, Sales $1.470B Beat $1.365B Estimate

Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) is gearing up to announce its quarterly earnings on Friday, 2024-11-08. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Brookfield Renewable will report an earnings per share (EPS) of $-0.26.
Brookfield Renewable bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Earnings Track Record</h3>
In the previous earnings release, the company missed EPS by $0.08, leading to a 0.0% drop in the share price the following trading session.
Here's a look at Brookfield Renewable's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.20</td>
<td>-0.17</td>
<td>-0.04</td>
<td>0.04</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.28</td>
<td>-0.23</td>
<td>0.01</td>
<td>-0.14</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.0%</td>
<td>5.0%</td>
<td>-3.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730988261_0.png" alt="eps graph" />
<h3>Market Performance of Brookfield Renewable's Stock</h3>
Shares of Brookfield Renewable were trading at $25.21 as of November 05. Over the last 52-week period, shares are up 15.06%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/BEP/earnings">To track all earnings releases for Brookfield Renewable visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Brookfield Renewable's Earnings

Brookfield Signed An Agreement To Acquire 12.45% Minority Stakes In Four Of Ørsted's Operational UK Offshore Wind Farms For An Enterprise Value Of $2.3B

CIBC analyst Mark Jarvi maintains Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) with a Outperformer and raises the price target from $33 to $34.

Price Target

Analyst Ratings

CIBC Maintains Outperformer on Brookfield Renewable, Raises Price Target to $34

RBC Capital analyst Nelson Ng reiterates Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) with a Outperform and maintains $31 price target.

Reiteration

RBC Capital Reiterates Outperform on Brookfield Renewable, Maintains $31 Price Target

UBS analyst William Grippin upgrades Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) from Neutral to Buy and raises the price target from $24 to $31.

Upgrades

UBS Upgrades Brookfield Renewable to Buy, Raises Price Target to $31

JP Morgan analyst Mark Strouse maintains Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) with a Neutral and raises the price target from $30 to $31.

JP Morgan Maintains Neutral on Brookfield Renewable, Raises Price Target to $31

Brookfield Renewable Partners L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) and its institutional partners disclosed the sale of&nbsp;Saeta Yield to Masdar, Abu Dhabi Future Energy Company PJSC, for an implied enterprise <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40999345/masdar-to-acquire-saeta-from-brookfield-for-1-4-billion" rel="noreferrer noopener">value of around $1.4 billion (€1.2 billion)</a>.
The acquisition includes a portfolio of 745 megawatts (MW) of primarily wind assets—538 MW in Spain, 144 MW in Portugal, and 63 MW of solar PV in Spain—along with a 1.6 gigawatt (GW) development pipeline.
The deal excludes 350 MW of concentrated solar power assets, which Brookfield will retain and operate.
The transaction is expected to close by the end of 2024, pending customary approvals.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/09/40798749/brookfield-plans-to-invest-up-to-1-1b-in-efuels-details" target="_blank" rel="noreferrer noopener">Brookfield Plans To Invest Up To $1.1B in eFuels: Details</a>
Connor Teskey, chief executive officer of Brookfield Renewable Partners, said, &#8220;We are pleased to have successfully supported Saeta throughout our ownership, having worked closely with the business to scale and optimize its renewable portfolio across Iberia.&#8221;
&#8220;The company has a strong development pipeline and a top-tier management team, and is well positioned to continue delivering incremental renewable energy to the region over the coming years under Masdar&#8217;s sponsorship,&#8221; he added.
Apart from this, Brookfield Asset Management Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>), together with Brookfield Renewable and other institutional partners, has agreed to sell a 25% stake in First Hydro Company, a key electricity generation and<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40996353/cdpq-acquires-25-of-uks-first-hydro-company-from-brookfield" rel="noreferrer noopener"> storage facility in the United Kingdom, to CDPQ</a>.
Notably, ENGIE SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ENGQF#OTC">ENGQF</a>) is the majority shareholder of First Hydro Company, holding the remaining 75% of the company.
&#8220;We are pleased to have supported First Hydro throughout our ownership period including securing its long-term future through active management of the business. First Hydro will continue to provide considerable renewable power to the U.K. long into the future,&#8221; said Ignacio Gomez-Acebo, managing director at Brookfield.
Price Action: BEP shares are up 0.63% at $27.00 premarket at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/24/08/40603785/clean-energy-jobs-grow-twice-as-fast-as-overall-job-market-in-2023-our-policies-are-working" target="_blank" rel="noreferrer noopener">Clean Energy Jobs Grow Twice As Fast As Overall Job Market In 2023: &#8216;Our Policies Are Working&#8217;</a></li>
</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Equities

Global

ENGQF

Brookfield Divests Saeta Yield To Masdar In $1.4B Deal, Keeps Key Solar Assets

GCM Grosvenor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCMG#NASDAQ">GCMG</a>), a leading global alternative asset management firm, today announced that its Infrastructure Advantage Strategy has acquired a 25% equity interest in Shepherds Flat (the "Transaction"), the largest repowered wind farm in North America, from Brookfield Asset Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>, TSX:<a class="ticker" href="https://www.benzinga.com/stock/BAM#TSX">BAM</a>) and its institutional partners, including its listed affiliate Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>, BEPC, TSX:<a class="ticker" href="https://www.benzinga.com/stock/BEP#TSX">BEP</a>, BEPC)))) ("Brookfield"). &nbsp;
Shepherds Flat, located in north central Oregon, is a fully contracted 338-turbine wind farm with a nameplate capacity of 845 MW. The wind farm produces in excess of 2,000 GWh of electricity annually, which is enough to power ~185,000 average U.S. households and is fully supported by a long-term contract with a large-scale utility.

GCMG

GCM Grosvenor Announces That Its Infrastructure Advantage Strategy Has Acquired A 25% Equity Interest In Shepherds Flat, From Brookfield Asset Management And Its Institutional Partners, Including Its Listed Affiliate Brookfield Renewable

Saeta is a developer, owner and operator of renewable power assets with capabilities across the entire value-chain. The transaction consists of a portfolio of 745 megawatts (MW) of predominantly wind assets &ndash; 538 MW of wind assets in Spain, 144 MW of wind assets in Portugal and 63 MW solar PV assets in Spain &ndash; and includes a 1.6 gigawatt (GW) development pipeline.
The transaction excludes a regulated portfolio of 350 MW of concentrated solar power assets, which Brookfield will retain and continue to operate.

Masdar Reveals Proposed Acquisition Of Saeta Yield From Brookfield Renewable For An Implied Enterprise Value Of c. $1.4B

Clean energy jobs grew at <a href="https://www.benzinga.com/news/earnings/24/07/40051107/first-solar-reports-strong-q2-results-eps-beat-sales-up-24">twice the rate </a>of overall jobs in the U.S. in 2023, according to a report from the U.S. Department of Energy (DOE) released on Wednesday.
Jobs in that sector grew by 4.2%, or 142,000 positions, last year, compared to a job growth rate of 2.0% in the overall economy, the 2024 U.S. Energy and Employment Report (USEER) showed.
The report also revealed that unionization rates in clean energy reached 12.4% in 2023, surpassing a unionization rate of 11% for the entire energy sector, which added 250,000 jobs last year.
Clean energy sectors that experienced the greatest growth last year were zero-emission vehicle and renewable energy, as well as transmission, distribution and storage, according to the report.
 "Our policies are working. We are now starting to see the job impacts of investments made through the infrastructure and inflation reduction laws &#8211; first in construction and as America builds more of these factories, we'll see hundreds of thousands more," U.S. Secretary of Energy Jennifer M. Granholm said in a statement.
Read Also: <a href="https://www.benzinga.com/etfs/sector-etfs/24/07/39993019/everythings-bigger-in-texas-lone-star-state-will-build-more-clean-energy-than-next-10-states-com">Everything&#8217;s Bigger In Texas: Lone Star State Will Build More Clean Energy Than Next 10 States Combined</a>
"The data clearly show that clean energy means jobs – good jobs, union jobs, and jobs retained – in communities across the country as we race to dominate the global clean energy economy," Granholm added.
Clean energy jobs grew in all 50 states and the District of Columbia in 2023, led by a 7.7% increase in Idaho, followed by Texas at 6.0%, and New Mexico at 5.9%.
The solar and wind sectors reported respective job growth of 5.3% and 4.5% in 2023, the report stated.
 The DOE projects that the Inflation Reduction Act will double the share of electricity generation from clean sources by 2030, driven by growth in solar and wind. 
The report also said that there were 28,000 jobs in the U.S. last year that involved building new battery and solar module factories, ports for offshore wind, and warehouses to store and transport clean energy products.
&#8220;Thanks to the Biden-Harris administration&#8217;s historic investments, clean energy jobs are booming in every single state,&#8221; AFL-CIO President Liz Shuler said in a statement.
Price Action: Solar and wind companies are trending in both directions as of Wednesday&#8217;s early-morning trading.
<ul>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) declined 0.05% to $122.53</li>
<li>Brookfield Renewables L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) gained 0.16% to $25.05</li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) slipped 1.40% to $182.96</li>
<li>Vestas Wind Systems A/S (OTCPK: VWDRY) ticked up 0.13% to $7.62I</li>
</ul>
Exchange-traded funds that hold these stocks also saw gains and losses on Wednesday morning.
<ul>
<li>IShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) gained 0.21%</li>
<li>First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NASDAQ">GRID</a>) slipped 0.03%</li>
<li>Invesco Solar ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) ticked down 0.42%</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/top-stories/24/08/40585808/tesla-energy-highlights-texas-record-breaking-battery-power-milestone-could-powerwall-have-its-momen">Tesla Energy Highlights Texas Battery Power Milestone: Could Powerwall Have Moment In Spotlight?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Government

Sector ETFs

ETFs

ENPH

First Trust Nasdaq Clean Edge Smart Grid Infrastructure Index Fund

GRID

iShares S&P Global Clean Energy Index Fund

ICLN

VWDRY

Clean Energy Jobs Grow Twice As Fast As Overall Job Market In 2023: 'Our Policies Are Working'

Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) reported quarterly earnings of $0.51 per share which missed the analyst consensus estimate of $0.52 by 1.92 percent. The company reported quarterly sales of $1.482 billion which missed the analyst consensus estimate of $1.566 billion by 5.36 percent. This is a 22.99 percent increase over sales of $1.205 billion the same period last year.

Brookfield Renewable Q2 2024 FFO $0.51 Misses $0.52 Estimate, Sales $1.482B Miss $1.566B Estimate

U.S. solar manufacturers are prodding the Biden administration to toughen the rules on a law that gives a <a href="https://www.benzinga.com/news/24/07/39776035/solar-stocks-tumble-following-failed-assassination-of-trump-whats-going-on">10% tax credit </a>solar project developers who use materials made in the U.S.A.
The administration sought to encourage investment in clean energy and deter reliance on Chinese goods through the 2022 Inflation Reduction Act, which requires that 40% of the cost of a developer&#8217;s materials comes from U.S.-manufactured solar products.
But the Solar Energy Manufacturers for America Coalition (SEMA) said developers can reach that 40% requirement just by buying U.S.-made mounting racks and inverters, and then purchasing the solar panels overseas, Reuters reported.
Also Read: <a href="https://www.benzinga.com/trading-ideas/technicals/24/05/39068775/enphase-energy-solar-giant-shines-with-golden-cross-breakout">Enphase Energy: Solar Giant Shines With Golden Cross Breakout</a>
SEMA also said the situation undermines the administration&#8217;s goals of building a robust solar supply chain to compete with China because solar panels are more difficult and expensive to produce than the other components.
Price Action: Solar panel manufacturers trended downward by Wednesday&#8217;s late-morning trading.
Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) declined 4.36% to $111.10, while Brookfield Renewable Partners L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) slid 2.78% to $25.19 and Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) dipped 2.49% to $16.85.
Exchange-traded funds that hold shares of Enphase, which has the largest market capitalization of $17.1 billion, <a href="https://www.forbes.com/advisor/investing/best-solar-power-stocks/">according </a>to Forbes Advisor, also fell by late morning on Wednesday.
Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) fell 3.06% as Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>) declined 1.60% and Virtus Duff &amp; Phelps Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCLN#NYSE">VCLN</a>) dropped 1.18%. First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) shed 3.24% and iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) declined 1.92%.
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/markets/esg/24/05/38759168/solar-is-leaving-wind-in-the-dust-as-world-renewable-energy-hits-new-high">Solar Is Leaving Wind In The Dust As World Renewable Energy Hits New High</a></li>
</ul>
Photo: Andreas from Pixabay

First Trust NASDAQ Clean Edge Green Energy Index Fund

QCLN

RAYS

VCLN

Solar Makers Push Biden To Tighten Tax Credit For US-Made Panels

JP Morgan analyst Mark Strouse maintains Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) with a Neutral and raises the price target from $28 to $30.

JP Morgan Maintains Neutral on Brookfield Renewable, Raises Price Target to $30

Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>, BEPC, TSX:<a class="ticker" href="https://www.benzinga.com/stock/BEP#TSX">BEP</a>, BEPC)))) (&quot;Brookfield Renewable&quot;) today announced that it has agreed to issue C$400 million aggregate principal amount of medium-term notes (the &quot;Notes&quot;), comprised of C$100 million aggregate principal amount of Series 17 Notes (the &quot;Series 17 Notes&quot;), due January 10, 2054, with an effective interest rate1&nbsp;of&nbsp;5.417%&nbsp;and C$300 million aggregate principal amount of Series 18 Notes (the &quot;Series 18 Notes&quot;), due October 20, 2034, which will bear interest at a rate of&nbsp;4.959%&nbsp;per annum.

Reported Earlier, Brookfield Renewable To Issue C$400M Green Bonds At 4.959% And 5.417% Interest Rates

Brookfield Asset Management Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) disclosed signing a share purchase <a target="_blank" href="https://neoen.com/en/news/2024/signing-of-the-share-purchase-agreement-for-the-acquisition-of-a-majority-stake-in-neoen-by-brookfield-from-impala-and-other-shareholders/" rel="noreferrer noopener">agreement </a>for a majority stake in France&#8217;s Neoen.
This transaction, known as the &#8220;Block Acquisition,&#8221; was signed after Neoen completed its works council information and consultation process.
As announced <a target="_blank" href="https://neoen.com/en/news/2024/brookfield-enters-into-exclusive-negotiations-with-impala-and-other-shareholders-to-acquire-a-majority-stake-in-neoen-and-launch-a-mandatory-tender-offer-for-100-of-the-company/" rel="noreferrer noopener">earlier</a>, Brookfield&#8217;s offer implies an equity value of 100% of the shares of EUR 6.1 billion.
In particular, Brookfield inked a share purchase agreement with Impala, the Fonds Stratégique de Participations managed by ISALT, Cartusia, Xavier Barbaro, and other shareholders to acquire approximately 53.12% of Neoen&#8217;s outstanding shares for EUR 39.85 per share.
In addition, Brookfield entered into a tender agreement with Bpifrance&#8217;s ETI 2020 fund. Bpifrance agreed to tender its 4.36% stake in Neoen in Brookfield&#8217;s upcoming tender offer following the completion of the Block Acquisition.
Notably, in May, Brookfield Asset Management, together with its institutional partners, including Brookfield Renewable Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) and Temasek, through a special purpose vehicle, inked an exclusive negotiation <a href="https://www.benzinga.com/markets/equities/24/05/39091145/brookfield-powers-up-eyes-major-stake-in-neoen-with-a-bold-acquisition-bid" target="_blank" rel="noreferrer noopener">to acquire a 53.32% shareholding in Neoen</a>.
The completion of the Block Acquisition is contingent upon customary regulatory approvals, including antitrust and foreign investment clearances.
Subject to the closing of the Block Acquisition, it is expected that Brookfield would file an all-cash mandatory tender offer for all of the remaining shares and outstanding convertible bonds in Neoen, with the intention of implementing a squeeze out.&nbsp;
The company expects to obtain regulatory approvals by the fourth quarter of 2024, with the tender offer expected to commence in the first quarter of 2025.
As of March-end, BAM had cash and&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38695161/brookfield-asset-management-announces-strong-first-quarter-results" rel="noreferrer noopener">cash equivalent of $2.6 billion</a>.
Price Action: BAM shares are up 0.68% at $38.54 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Large Cap

Brookfield Seals The Deal: Snags Major Stake In French Powerhouse Neoen

Scotiabank analyst Robert Hope maintains Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) with a Sector Outperform and raises the price target from $31 to $32.

Scotiabank Maintains Sector Outperform on Brookfield Renewable, Raises Price Target to $32

Brookfield Asset Management Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>), together with its institutional partners, including Brookfield Renewable Partners L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) and Temasek, through a special purpose vehicle, inked an exclusive negotiation to acquire a 53.32% shareholding in Neoen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NOSPF#OTC">NOSPF</a>) for <a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g39081760/brookfield-enters-into-exclusive-negotiations-with-impala-and-other-shareholders-to-acquire-a-majo" rel="noreferrer noopener">EUR 39.85 per share</a>.
Brookfield has entered into exclusive negotiations with Impala, the Fonds Stratégique de Participations managed by ISALT, Cartusiai&nbsp;and Xavier Barbaro, and other shareholders.
Neoen is a global renewables developer with an 8,000 megawatt portfolio of wind, solar and storage assets in operation or under construction alongside a significant 20,000 megawatts advanced pipeline of development projects, located in strategic markets, particularly in Australia, France and the Nordics.&nbsp;
The acquisition price represents a 26.9% premium over the last closing price and premia of 40.3% and 43.5% over the 3 and 6-month volume-weighted average price, respectively.
Neoen&#8217;s Board, in a meeting on May 29, unanimously welcomed the proposed transaction.
The offer implies an equity value of 100% of the shares of EUR 6.1 billion ($6.6 billion). The company expects to obtain regulatory approvals by the fourth quarter of 2024 and launch a tender offer in the first quarter of 2025.
Subject to the closing of the block acquisition, Brookfield would file an all-cash mandatory tender offer for all of the remaining shares and outstanding convertible bonds in Neoen with the intention of implementing a squeeze out.
The growth of AI and cloud computing continues to drive higher demand for renewable sources of power, as typified by Brookfield&#8217;s recent agreement to supply Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) with over 10,500 megawatts of renewable power, as per the company&#8217;s statement.
As of March-end, BAM had cash and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38695161/brookfield-asset-management-announces-strong-first-quarter-results" rel="noreferrer noopener">cash equivalent of $2.6 billion</a>.
Price Action: BAM shares are up 2.79% at $39.40 at the last check Thursday.
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