BEP: Quick take: Establishing vehicle to streamline asset recycling in Europe and Australia

研报英文原文证据摘录

BEP: Quick take: Establishing vehicle to streamline asset recycling in Europe and Australia

EQUITY RESEARCH QUICK TAKE

RBC Dominion Securities Inc.

Nelson Ng, CFA (Analyst)

Trevor Bryan, CFA (AVP)

June 9, 2026

Brookfield Renewable Partners L.P.

Quick take: Establishing vehicle to streamline asset recycling in Europe and Australia

NYSE: BEP | USD 36.46 | Outperform | Price Target USD 35.00

Sentiment: Neutral

Our take

We believe the formation of the renewable energy JV should streamline capital recycling of contracted European and Australian

assets for Brookfield Renewable and its institutional partners. It is similar to the Northview Energy vehicle announced earlier

this year that focuses on contracted U.S. and Canadian renewable assets, and management recently highlighted that additional

vehicles would be established to focus on different regions. The announcement also highlights the continued institutional demand

for de-risked renewable assets with long-term contracted cash flows.

Details

JV established to own contracted operating European and Australian renewables. Mitsubishi HC Capital Inc. and Brookfield

Asset Management Ltd. announced the formation of a JV that will acquire and operate a diversified portfolio of contracted,

operating renewable energy assets in Europe and Australia. The JV expands Brookfield Renewable's programmatic asset recycling

strategy, and it is similar to the March 2026 announcement where Brookfield Asset Management, BCI, and Norges Bank Investment

Management jointly launched Northview Energy, a privately held renewable energy company focused on acquiring and operating

contracted renewable assets across the U.S. and Canada (click here for details of Northview Energy).

570 MW seed portfolio.