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Brookfield White Pine Hydro senior secured project financing notes receive a score of E1/90, covered by the specialist press

Brookfield White Pine Hydro’s $475 million senior secured notes received a score of E1/90 on S&P Global Ratings’ new Green Evaluation scale.

The notes, issued by Brookfield White Pine Hydro LLC (BWPH), are being used mostly (74%) to refinance existing indebtedness for BWPH’s portfolio – which comprises 68 generating units across 21 hydroelectric facilities primarily located in Maine, with 380 MW of installed capacity. The remaining proceeds will be used to offset funding of capital expenditure and development activities at a number of hydroelectric and wind renewable projects within Brookfield Infrastructure Fund II (BIF II), located in the U.S., Brazil and Europe.

The transaction received a score of 90 out of 100 or E1 on S&P Global Ratings’ scale of E1 (highest) to E4 (lowest). This score reflects a weighted aggregate of the following three scores: Transparency, 83; Governance, 83; and Mitigation, 94. The excellent Mitigation score of 94 reflects the proceeds’ use for renewable electricity generation and their contribution to systematic decarbonisation.

Following distribution by Moorgate, the Green Evaluation was covered by RE News, HydroWorld, The Voice of Renewables, and Renewables Now.

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