in News Departments > Projects & Contracts
print the content item

Brookfield Renewable Energy Partners LP has announced its entry into the European market, having made the company's first acquisition outside the Americas. The company has signed an agreement to acquire the wind portfolio of Bord Gais Energy (BGE), the vertically integrated Irish energy business from state-owned utility Bord Gais Eireann, for a total enterprise value of up to approximately $960 million.

The BGE wind portfolio comprises 321 MW of operating wind capacity across 17 wind projects in eight counties in Ireland and Northern Ireland. Brookfield adds that the portfolio is well positioned for future growth, with an additional 125 MW currently in construction and an approximate 300 MW wind development pipeline.

Bord Gais Eireann is selling its energy business to a consortium that also includes Centrica and iCON Infrastructure, which will acquire the non-wind assets of BGE.

“This is truly a milestone investment for Brookfield Renewable. The Bord Gais portfolio represents an ideal entry point into the European market, bringing with it high-quality renewable assets and an experienced team of approximately 70 professionals with operating, development, technical, commercial and finance expertise,” says Richard Legault, president and CEO of Brookfield Renewable.

The acquisition is subject to regulatory approvals and other customary closing conditions, and Brookfield expects to close the transaction in the second quarter of this year.




Trachte Inc._id1770
Latest Top Stories

Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.


Why States Should Adopt A Renewable Portfolio Standard

A new study analyzes the potential benefits of state renewable energy mandates, as well as recommends what such policies should include.


Sen. Reid Vows To Bring Wind PTC To A Vote By Year's End

Nevada's senior senator provides some encouragement to wind industry advocates during his annual Clean Energy Summit.


Steadily, Wind Turbine OEMs Resume R&D Investment

An increased commitment to research and development will likely lead to wind energy innovation - not to mention a likely increase in patent-protected technology.

Renewable NRG_id1934
Canwea_id1984
UnitedEquip_id1995
Future Energy_id2008