Brookfield offers buyout of Terraform at US$3.9-billion value in latest renewables push


The Toronto-based Brookfield Renewable Partners is offering US$17.31 per share in an attempt to acquire the 38 per cent of the solar and wind farm operator it does not already own. (The Logic)

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Talking point: The acquisition would add over 4,000 megawatts to Brookfield’s already 18,000-megawatt-strong renewables portfolio. In 2019, Brookfield made deals for a 200-megawatt wind farm in China and a 50 per cent stake in solar power firm X-Elio. It’s not the only Canadian institutional investor increasing its renewable stake. As my colleague Catherine reported in November 2019, the Canada Pension Plan Investment Board increased its renewable energy investments a hundredfold over a three-year period. Last year, the Caisse de dépôt et placement du Québec made two solar investments worth about $350 million combined, and in August 2018, the Public Sector Pension Investment Board invested about $52 million in a Quebec wind power firm.