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Brookfield Further Invests In Two U.S. Renewable Developers For $1.5 Bln

Brookfield Renewable (BEP, BEP.UN.TO), together with its institutional partners, announced on Thursday two further investments in the U.S. renewable energy sector.

Brookfield Renewable has agreed to acquire Scout Clean Energy for $1 billion with the potential to invest an additional $350 million to support the business' development activities.

Scout's portfolio includes over 1,200 MW of operating wind assets, including 400 MW managed on behalf of third parties, and a pipeline of over 22,000 MW of wind, solar and storage projects across 24 states, including almost 2,500 MW of under construction and advanced-stage projects.

Brookfield Renewable also announced the closing of its acquisition of Standard Solar for consideration of $540 million with the potential to invest an additional $160 million to support the business' growth initiatives ($140 million in total net to BEP).

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