Brookfield Renewable to raise $758m through green bonds

Brookfield Renewable is set to raise $758 million (C$750m) through two green bonds as the renewable energy producer looks to fund eligible investments across its portfolio.

The offering comprises C$400 million of Series 21 notes maturing in August 2036, carrying a fixed interest rate of 4.489% and C$350 million of Series 22 notes maturing in August 2031 4.256%.

Brookfield Renewable Partners, a subsidiary of Brookfield Renewable, will issue the notes, which will be fully and unconditionally guaranteed by Brookfield Renewable and certain key holding subsidiaries.

The transaction is expected to close on August 24, subject to customary conditions.

Proceeds will be used to fund eligible investments under Brookfield Renewable's 2-24 Green Financing Framework, including repaying outstanding debt incurred in connection with those investments.

The Series 21 and Series 22 notes will represent Brookfield Renewable's nineteenth and twentieth green-labelled corporate securities issuances in North America respectively.

The latest fundraising comes as demands for capital to support renewable energy and sustainable infrastructure continues to grow, with Brookfield Renewable operating a portfolio spanning hydroelectric, wind, utility scale solar, distributed solar and storage assets.

The company also has exposure to sustainable solutions including nuclear services, carbon capture and storage, agricultural renewable natural gas, materials recycling and eFuels manufacturing.

Brookfield Renewable is one of the flagships listed energy business of Brookfield Asset Management, which has more than $1 trillion in assets under management.

Investors can access Brookfield Renewable through Brookfield Renewable Partners or Brookfield Renewable Corporation, which are listed on the New York Stock Exchange and Toronto Stock Exchange.