Brookfield Renewable Power to Commence Sales to...
TORONTO, ONTARIO--(Marketwire - June 25, 2009) - Brookfield Renewable
Power today announced that its 10-year power contracts with the Long
Island Power Authority ("LIPA") and the New York Power Authority
("NYPA") have received approval from the New York State Comptroller
and Attorney General and energy deliveries are set to begin in July
2009. The contracts will provide LIPA with 300 gigawatt-hours
annually of clean renewable power. A portion of the power will be
purchased by NYPA on LIPA's behalf. These contracts represent the
second long-term power purchase between a unit of Brookfield
Renewable Power and LIPA.
"These agreements are consistent with our strategy of entering into
longer-term sales contracts with strong counterparties for a majority
of our energy production," said Richard Legault, President and Chief
Executive Officer of Brookfield Renewable Power. "The high-quality
and renewable nature of our portfolio offers compelling attributes in
today's energy market and will help LIPA to meet its targets for
providing renewable energy to its customers."
About Brookfield Renewable Power
Brookfield Renewable Power Inc., wholly-owned by Brookfield Asset
Management Inc., has more than 100 years of experience as an owner,
operator and developer of hydroelectric power facilities. Its total
portfolio includes more than 165 generating facilities with
approximately 4,100 megawatts of capacity. It also has a significant
hydroelectric and wind project pipeline. Brookfield Renewable Power's
operations are primarily located in North America and Brazil.
Brookfield Asset Management Inc., focused on property, power and
infrastructure assets, has approximately US$80 billion of assets
under management and is listed on the New York and Toronto Stock
Exchanges under the symbols BAM and BAM.A, respectively, and on
Euronext Amsterdam under the symbol BAMA. For more information,
please visit Brookfield Renewable Power's website at
www.brookfieldpower.com and Brookfield Asset Management's website at
www.brookfield.com.
Contacts:
Brookfield Renewable Power
Zev Korman
Director, Investor Relations & Communications
(416) 359-1955
zkorman@brookfield.com
www.brookfieldpower.com
This announcement was originally distributed by Hugin. The issuer is
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