Key deal with Microsoft

Article Excerpt

BROOKFIELD RENEWABLE PARTNERS L.P., $31.92, is a buy. The partnership (Toronto symbol BEP.UN; Units outstanding: 646.0 million; Market cap: $20.6 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.7%; www.bep.brookfield.com) cuts risk by selling power from its plants under long-term contracts. That provides stable cash flows. For instance, Brookfield now has an agreement with Microsoft to deliver 10.5 gigawatts of additional renewable energy capacity over a five-year period to power its AI cloud services business. Microsoft will sign firm contracts at prevailing power rates as the capacity is added. Meanwhile, with the March 2025 payment, Brookfield raises your quarterly distribution by 5.1%. The new annual rate of $1.492 U.S. a unit yields a solid 4.7%. The partnership aims to raise the annual payment by 5% to 9% each year. Brookfield Renewable is a buy. buy…