Brookfield Renewable Announces $325 Million Equity Offering

FOR: Brookfield Renewable Energy Partners L.P. 
MAY 29, 2014 
Brookfield Renewable Announces $325 Million Equity Offering 
HAMILTON, BERMUDA--(Marketwired - May 29, 2014) -  
All amounts in Canadian dollars. 
Brookfield Renewable Energy Partners L.P. (TSX:BEP.UN)(NYSE:BEP)
("Brookfield Renewable") announced today that it has agreed to issue
10,250,000 limited partnership units ("L.P. units"), on a bought deal
basis, to a syndicate of underwriters at a price of $31.70 per L.P. unit (the
"Offering Price"), for gross proceeds of approximately $325 million
(the "Offering"). 
Brookfield Renewable has also granted the underwriters an over-allotment
option, exercisable in whole or in part for a period of 30 days following
closing of the Offering, to purchase up to an additional 1,537,500 L.P. units
at the Offering Price to cover over-allotments, if any. If this option is
exercised in full, the gross Offering size would increase to approximately $374
Brookfield Renewable intends to use the net proceeds of the Offering to repay
outstanding indebtedness and for general corporate purposes. The Offering is
expected to close on or about June 10, 2014. 
This news release shall not constitute an offer of securities for sale in the
United States. The L.P. units offered will not be and have not been registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold into the United States absent registration or an exemption from
registration. There shall not be any public offering of the L.P. units in the
United States. 
Brookfield Renewable Energy Partners (TSX:BEP.UN)(NYSE:BEP) operates one of the
largest publicly-traded, pure-play renewable power platforms globally. Its
portfolio is primarily hydroelectric and totals approximately 6,000 megawatts
of installed capacity. Diversified across 71 river systems and 12 power markets
in the United States, Canada and Brazil, the portfolio's output is sold
predominantly under long-term contracts and generates enough electricity from
renewable resources to power more than three million homes on average each
year. With a 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 
This news release contains forward-looking statements and information within
the meaning of Canadian securities laws and "forward-looking
statements" within the meaning of Section 27A of the U.S. Securities Act
of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934,
as amended, "safe harbor" provisions of the United States Private
Securities Litigation Reform Act of 1995 and in any applicable Canadian
securities regulations. Forward-looking statements in this news release include
statements regarding the Offering, the intended use of proceeds therefrom and
statements regarding the quality of Brookfield Renewable's assets and the
resiliency of the cash flow they will generate and the future growth prospects
and distribution profile of Brookfield Renewable. Forward-looking statements
can be identified by the use of words such as "will",
"would", "intends", "expected",
"positioned" or variations of such words and phrases. Although
Brookfield Renewable believes that such forward-looking statements and
information are based upon reasonable assumptions and expectations, no
assurance is given that such expectations will prove to have been correct. The
reader 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 the actual results, performance
or achievement to differ materially from anticipated future results,
performance or achievement expressed or implied by such forward-looking
statements and information. Factors that could cause actual results of
Brookfield Renewable to differ materially from those contemplated or implied by
the statements in this news release are described in the documents filed by
Brookfield Renewable with the securities regulators in Canada and the United
States including under "Risk Factors" in Brookfield Renewable's
most recent Annual Report on Form 20-F and other risks and factors that are
described therein. Except as required by law, Brookfield Renewable undertakes
no obligation to publicly update or revise any forward-looking statements or
information, whether as a result of new information, future events or
Investor Contact:
Brookfield Renewable Energy Partners L.P.
Zev Korman
Vice President, Investor and Media Relations
INDUSTRY:  Energy and Utilities - Alternative Energy, Environment - Natural
Resource Management 
-0- May/29/2014 20:31 GMT
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