Brookfield Renewable Acquires Remaining 50% Interest in Powell River Energy

Brookfield Renewable Acquires Remaining 50% Interest in Powell River Energy 
HAMILTON, BERMUDA -- (Marketwire) -- 02/13/13 --  
All amounts in Canadian dollars unless stated otherwise 
Brookfield Renewable Energy Partners ("Brookfield Renewable")
(TSX:BEP.UN) today announced the acquisition of the remaining 50
percent stake of Powell River Energy Inc. from its partner, Catalyst
Paper Corporation ("Catalyst"), for C$33 million plus the assumption
of Catalyst's portion of the venture's non-recourse debt. The
acquisition will be financed through available liquidity. 
Powell River Energy consists of two generating stations with a total
installed capacity of 83 MW producing an average of 546 GWh on an
annual basis. The system has storage capacity of approximately 158
GWh and is interconnected to the British Columbia power grid.  
"These assets have been an important part of our portfolio since 2001
and we look forward to the continued ownership and operation of these
high quality hydroelectric generating facilities," said Richard
Legault, President and CEO of Brookfield Renewable.  
All electricity generated by Powell River Energy is sold pursuant to
a power purchase agreement with Catalyst expiring in 2016 with
possible extension to 2021 at Catalyst's discretion.  
The transaction is subject to various closing conditions, including
British Columbia Supreme Court approval, and is expected to be
completed in the first quarter of 2013. 
Brookfield Renewable Energy Partners (TSX:BEP.UN) operates one of the
largest publicly-traded, pure-play renewable power platforms
globally. Its portfolio is primarily hydroelectric and totals
approximately 5,300 megawatts of installed capacity. Diversified
across 69 river systems and 11 power markets in the United States,
Canada and Brazil, the portfolio generates enough electricity from
renewable resources to power more than two million homes on average
each year. With a virtually fully-contracted portfolio of
high-quality assets and strong growth prospects, the business is
positioned to generate stable, long-term cash flows supporting
regular and growing cash distributions to shareholders. For more
information, please visit www.brookfieldrenewable.com. 
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENT  
This news rele
ase contains forward-looking statements and
information, within the meaning of Canadian securities laws,
concerning the business and operations of Brookfield Renewable.
Forward-looking statements may include estimates, plans,
expectations, opinions, forecasts, projections, guidance or other
statements that are not statements of fact. Forward-looking
statements in this news release include statements regarding the
acquisition of the remaining 50 percent interest in Powell River
Energy, the terms of the power purchase agreement and anticipated
closing of the transaction. Forward-looking statements can be
identified by the use of words such as "expected", "benefit", and
"progress" or variations of such words and phrases, or statements
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved. Although we believe
that our anticipated future results, performance or achievements
expressed or implied by the forward-looking statements and
information in this news release are based upon reasonable
assumptions and expectations, we cannot assure you that such
expectations will prove to have been correct. You should not place
undue reliance on forward-looking statements and information as such
statements and information involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements to differ materially from anticipated
future results, performance or achievement expressed or implied by
such forward-looking statements and information.
Contacts:
Brookfield Renewable Energy Partners L.P.
Zev Korman
Director, Investor Relations
416-359-1955
zev.korman@brookfield.com
www.brookfieldrenewable.com