Brookfield Renewable: Bonds Offer 7.3% Yield For 63 Cents On The Dollar

2025-01-20 09:00:22 ET

Summary

• Brookfield Renewable 4.625% notes (BEPH) have sold off since October and now trade for 63 cents on the dollar.
• The notes offer a 7.3% yield on cost and were rated investment grade when they started trading in 2021.
• BEP saw year-over-year FFO per unit growth of 11% during its fiscal 2024 third quarter with 7 GW of operating capacity set to be added through 2024.

Brookfield Renewable ( BEP ) ( BEPC ) is trading close to 52-week lows after a sustained selloff since October. The renewable energy company owns a vast globally diversified portfolio of high-quality renewable power assets and at its current $10 billion market cap is one of the largest listed renewable energy investors. BEP owned 35.2 GW in operating capacity as of the end of its fiscal 2024 third quarter. This is concentrated in North America which holds 18.1 GW of BEP's operating assets. The company has a 200 GW development pipeline as it targets aggressive operational capacity growth on the back of rising electricity demand....

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