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Prudential Private Capital invests $170M in Great Lakes Hydro America

March 10, 2022
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Prudential Private Capital provided $170M of Senior Secured Notes to Great Lakes Hydro America, LLC, a portfolio of operating hydro facilities.
DALLAS, March 10, 2022 – Prudential Private Capital provided $170M of Senior Secured Notes to Great Lakes Hydro America, LLC, a portfolio of operating hydro facilities with an aggregate capacity of 168MW and 34 MW/ 69 MWH of battery energy storage systems in the Northeast. The portfolio is owned by Brookfield Renewable Partners. Prudential Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Prudential Private Capital supported Great Lakes Hydro America, LLC with multiple issuances through the last two decades:

  • $90 million issuance in 2004;
  • $125 million refinancing in 2014;
  • $30 million add-on in 2019; and
  • $170 million refinancing and upsizing in 2022.
“We are proud to continue our partnership with Brookfield Renewable Partners, a sophisticated and experienced owner of hydro assets in North America,” said Ingrida Soldatova, Senior Vice President of Prudential Private Capital’s Power Group

“Our involvement with this asset dates back to early 2000s and demonstrates our long-term commitment to the renewable hydro assets,” added Soldatova.

About Brookfield Renewable Partners:

Brookfield Renewable operates one of the world’s largest publicly traded pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 21,000 megawatts of installed capacity and an approximately 56,000-megawatt development pipeline. Investors can access its portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX; BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE; TSX; BEPC), a Canadian corporation. Further information is available at http://bep.brookfield.com and https://bep.brookfield.com/bepc. Important information may be disseminated exclusively via the website; investors should consult the site to access this information.

Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately US$690 billion of assets under management.

About Prudential Private Capital:

For nearly 100 years, Prudential Private Capital has been partnering with a wide range of corporations, sponsors, and institutions to provide valuable insights and customized capital solutions that enable them to achieve their growth and funding goals. In an industry where capital can seem like a commodity and relationships are often fleeting and transactional, we are known for building enduring local partnerships based on a steady and patient commitment to our partners’ long-term capital needs. With regional teams in 15 offices around the world, we manage a portfolio of $101.2 billion for our partners. All data as of December 31, 2021.

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