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Brookfield
Renewable Power Announces Parent-Subsidiary Amalgamation
and Name Change
GATINEAU, Québec,
April 1, 2008 – Brookfield Renewable
Power Inc. today announced that effective March 31, 2008,
Brookfield Power Inc. (BPI) and its former wholly-owned
subsidiary, Brookfield Power Corporation (BPC), have
amalgamated into one entity to become Brookfield Renewable
Power Inc. The amalgamated entity assumed, by operation
of law, all of BPI’s and BPC’s existing obligations,
including any outstanding public indebtedness.
“These changes reflect a simplified and focused corporate
structure highlighting the company’s strengths and
strategic direction as a leading renewable energy company,” said
Richard Legault, President and Co-Chief Executive Officer
of Brookfield Renewable Power Inc. “Our new name reflects
our commitment to environmentally-responsible power generation
and development. We look forward to building on more than
a century of operating experience in North America and Brazil
and expanding our international renewable energy platform.”
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About Brookfield Renewable Power
Brookfield Renewable Power Inc., wholly-owned by
Brookfield Asset Management Inc., has over 100 years of experience
as an owner, operator and developer of hydroelectric power
facilities. Its portfolio includes 160 generating facilities
with over 3,900 megawatts of capacity, of which 95% is sourced
from renewable energy. It also has a 6,500 megawatt 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$95 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.
Contact
Brookfield Renewable Power Inc.
Zev Korman
Director, Investor Relations & Communications
Tel: (416) 359-1955
e-mail: zkorman@brookfield.com
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