Brookfield Renewable Announces $325 Million Equity Offering

Brookfield Renewable Announces $325 Million Equity Offering 
HAMILTON, BERMUDA -- (Marketwired) -- 05/29/14 --  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 million.  
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
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 otherwise. 
Investor Contact:
Brookfield Renewable Energy Partners L.P.
Zev Korman
Vice President, Investor and Media Relations
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