Brookfield Renewable launches $400 million at-the-market equity program

Brookfield Renewable Corporation (NYSE: BEPC) and Brookfield Renewable Partners L.P. (NYSE: BEP) announced an at-the-market equity issuance program enabling the sale of up to $400 million of BEPC class A exchangeable subordinate voting shares directly from treasury.

The companies filed the necessary Canadian and U.S. securities documentation to establish the program, which allows BEPC to sell shares at prevailing market prices through the Toronto Stock Exchange, New York Stock Exchange, or other approved marketplaces in Canada and the United States.

Brookfield Renewable stated it intends to use net proceeds from the program to facilitate repurchases by the Partnership of its non-voting limited partnership units under its normal course issuer bid program and for general corporate purposes. The company expects the program to be non-dilutive, as the combined number of LP units and BEPC shares outstanding is intended to remain generally unchanged, though temporary fluctuations may occur.

Each BEPC share will be exchangeable for one LP unit or its cash equivalent, with the form of payment determined at BEPC's election. The shares are offered through an equity distribution agreement with BMO Nesbitt Burns Inc., TD Securities Inc., BMO Capital Markets Corp., and TD Securities (USA) LLC serving as agents.

The program will terminate upon the sale of all shares subject to the distribution agreement, termination by BEPC or the agents, or on February 24, 2027. The offering is conducted under Canadian and U.S. prospectus supplements filed January 12, 2026.

Brookfield Renewable operates renewable power facilities including hydroelectric, wind, solar and storage assets, along with sustainable solutions investments. The company is part of Brookfield Asset Management, which manages over $1 trillion in assets.

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