Why Brookfield Renewable Partners Stock Dropped Monday
Shares of Brookfield Renewable Partners (NYSE: BEP) (NYSE: BEPC) dropped as much as 5% Monday, and remained down over 4% as of 3:25 p.m. EDT. Several names in the renewable energy sector were in the red today, but there was also some news regarding Brookfield Renewable's assets.
It was announced today that Brookfield sold an approximately 400 megawatt (MW) portfolio of wind-powered generating assets to NextEra Energy Partners (NYSE: NEP). As of Dec. 31, 2020, Brookfield's total wind-powered generating capacity was about 4,700 MW, so today's sale represents more than 8% of that total. The assets, in California and New Hampshire, make up 12.4% of Brookfield's U.S. wind capacity.
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Source Fool.com
