Brookfield adds wind

Article Excerpt

BROOKFIELD RENEWABLE PARTNERS L.P., $35.19, is a buy. The partnership (Toronto symbol BEP.UN; Units outstanding: 646.0 million; Market cap: $23.3 billion; TSINetwork Rating: Extra Risk; Dividend yield: 5.5%; www.bep.brookfield.com) is set to acquire a 12.45% stake in four operational U.K. offshore wind farms from Ørsted, marking its first investment in the U.K. offshore wind sector. Denmark-based Ørsted is the world’s largest and leading offshore wind operator. Ørsted will continue to oversee the operations and maintenance of the wind farms. The company will pay $770 million for its share of four U.K. offshore wind farms: Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension. The four have a combined total capacity of approximately 3.5 gigawatts. Brookfield Renewable is a buy. buy…