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Units of Brookfield Renewable Partners(NYSE: BEP) rose more than 5% by 11 a.m. EDT on Friday. Powering the renewable-energy stock was the closing of its merger with TerraForm Power(NASDAQ: TERP).
Earlier this week, TerraForm Power shareholders voted in favor of merging with Brookfield Renewable Partners, which already owned a 62% interest in the renewable-energy producer. That transaction officially closed today, sending shares of the newly merged company higher.