Brookfield Renewable Partners hires BNP and Socgen to sell Irish wind assets – sources

09 Jan 2017 – Toronto, Ontario-headquartered asset manager Brookfield Renewable Partners [TSE:BEP.UN, NYSE:BEP] has hired Societe Generale and BNP Paribas to conduct the sale of assets within its onshore wind portfolio in Ireland and Northern Ireland, two sources briefed on the situation have said.

The process was launched in late 2016, the first source said. Brookfield Renewable is flexible on the size of the stake it sells, the first source added.

The rationale of the sale is thought to be balance sheet rationalization, the second source said. In its 3Q16 results, announced in November, Brookfield Renewable posted a net loss of USD 19m and revenues of USD 580m.

In August, a news report said Brookfield Renewable was mulling the sale of certain Irish assets and its wind farms in Ontario.

Brookfield Renewable has 20 wind farms in the Republic of Ireland and Northern Ireland. The combined portfolio has an installed capacity of 430 MW.

In Northern Ireland, the company has the wind farms Owenreagh I (5.5MW), Owenreagh II (5.1MW), Seegronan (14.1MW), all in operation, and Crockandun (15MW), which is in construction. In the Republic of Ireland, it owns the wind farms BallyMartin (6.9MW), Booltiagh I (19.5MW), Booltiagh II (12MW), Garracummer (42.5MW), Glentane (12.5MW), Gneeves (9.35MW), Inchincoosh (32.5MW), Inish Wind (9.2MW), Kilgarvan (45MW), Kill Hills (36.8MW), Knockacummer (87.5MW), Lisheen I (36MW), Lisheen II (24MW), Mienvee (0.85MW), Sillahertane (8.5MW), Smithstown (8MW), Sorne I (32MW), Sorne II (6.9MW). All are operational.

Brookfield, Socgen and BNP Paribas did not respond to requests for comment. 

Brookfield Renewable has a market capitalisation of circa USD 4.88bn.

By Katie McQue

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