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Released November 16, 2021 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Brookfield Asset Management Incorporated (NYSE:BAM) (Toronto, Ontario) is among the asset-management heavyweights vowing to reduce carbon emissions among its holdings, but its recent acquisition of Inter Pipeline Limited (Calgary, Alberta), a leading Canadian fossil fuel company, proves old habits die hard. Brookfield Renewable Partners LP (NYSE:BEP) (Toronto), its flagship listed renewable power company, operates 20 gigawatts (GW) of renewable energy-generating capacity, and has another 31 GW of renewable projects in its development pipeline. Industrial Info is tracking about $3.4 billion worth of active projects involving Brookfield and its subsidiaries.
"With our global reach, our operating, development, and power marketing capabilities and our scale, we believe, we are uniquely positioned to capture the growing decarbonization opportunity," said Connor Teskey, the chief executive officer of Brookfield Renewable, in a recent quarterly earnings-related conference call. "We recently increased our annual target for investing equity capital into growth to US$1 billion to US$1.2 billion."
Teskey said Brookfield Renewable's windfarm repowering projects across the U.S. are "progressing well," pointing to its $150 million Dutch Hill Windfarm in Cohocton, New York, where all 50 turbines are being replaced with more up-to-date models. Teskey said more than half of the new turbines are operational and that the remainder are expected to be completed by the end of the year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for a detailed project report.
TerraForm Power Incorporated (New York, New York), which Brookfield bought out last year after holding a 51% stake since 2017, is managing the Dutch Hill project.
Click on the image at right for a graph detailing Brookfield's U.S. and Canadian power-generation projects, by subsidiary.
Other U.S.-based wind-energy projects from Brookfield Renewable include the Mesa Windfarm upgrade in White Water, California, which will install up to 23 new generators from Vestas Wind Systems A/S (Aarhus, Denmark), with a total output of 30 megawatts (MW). The project continues to seek necessary permits, although it was approved by the U.S. Bureau of Land Management last year. Subscribers can learn more from Industrial Info's project report.
Another Brookfield subsidiary, Evolugen (Gatineau, Quebec), aims to provide support to a major renewable hydrogen project through its proposed Thunder Mountain Wind Park near Tumbler Ridge, British Columbia. The 320-MW project, which is being developed in partnership with Aeolis Wind Power Corporation (North Saanich, British Columbia), would provide energy for Renewable Hydrogen Canada's (Sidney, British Columbia) proposed Sundance Hydrogen Project in Chetwynd, British Columbia, which is designed to produce 60 tons per day of green hydrogen. Subscribers can read detailed project reports on the Thunder Mountain Windfarm and Sundance Hydrogen Project.
Fossil Fuels Still in the Portfolio
The Brookfield parent company's claims to be "going green" have met with some criticism from environmental activists, many of whom point out that Brookfield Asset Management is among the finalists bidding for a stake in Saudi Aramco's natural gas pipeline network, according to Bloomberg. Last month, Brookfield completed its acquisition of Inter Pipeline, one of Canada's leading companies for petroleum transportation, bulk liquid storage and natural gas liquids (NGL) extraction.
Subscribers can learn more about the acquisition from Industrial Info's August 26, 2021, article - Brookfield Set to Acquire Inter Pipeline, Combining $4.3 Billion in Canadian Energy Projects.
Industrial Info is tracking more than $4 billion worth of active projects from Inter Pipeline, virtually all of which are to be found across Canada. The highest-valued projects are associated with the Heartland Petrochemical Complex in Fort Saskatchewan, Alberta, which is designed to convert locally sourced propane into 525,000 tons per year of polypropylene (PP). Components include a $1.77 billion propane dehydrogenation (PDH) plant, which is designed to produce 1.1 billion pounds per year of propylene; a $1.3 billion PP unit, which is designed to produce 1 billion pounds per year; and a $453.4 million gas-fired power plant, which will provide the new units with 102 MW. Subscribers can read detailed project reports on the PDH unit, polypropylene unit and gas-fired power plant.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
"With our global reach, our operating, development, and power marketing capabilities and our scale, we believe, we are uniquely positioned to capture the growing decarbonization opportunity," said Connor Teskey, the chief executive officer of Brookfield Renewable, in a recent quarterly earnings-related conference call. "We recently increased our annual target for investing equity capital into growth to US$1 billion to US$1.2 billion."
Teskey said Brookfield Renewable's windfarm repowering projects across the U.S. are "progressing well," pointing to its $150 million Dutch Hill Windfarm in Cohocton, New York, where all 50 turbines are being replaced with more up-to-date models. Teskey said more than half of the new turbines are operational and that the remainder are expected to be completed by the end of the year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for a detailed project report.
TerraForm Power Incorporated (New York, New York), which Brookfield bought out last year after holding a 51% stake since 2017, is managing the Dutch Hill project.
Click on the image at right for a graph detailing Brookfield's U.S. and Canadian power-generation projects, by subsidiary.Other U.S.-based wind-energy projects from Brookfield Renewable include the Mesa Windfarm upgrade in White Water, California, which will install up to 23 new generators from Vestas Wind Systems A/S (Aarhus, Denmark), with a total output of 30 megawatts (MW). The project continues to seek necessary permits, although it was approved by the U.S. Bureau of Land Management last year. Subscribers can learn more from Industrial Info's project report.
Another Brookfield subsidiary, Evolugen (Gatineau, Quebec), aims to provide support to a major renewable hydrogen project through its proposed Thunder Mountain Wind Park near Tumbler Ridge, British Columbia. The 320-MW project, which is being developed in partnership with Aeolis Wind Power Corporation (North Saanich, British Columbia), would provide energy for Renewable Hydrogen Canada's (Sidney, British Columbia) proposed Sundance Hydrogen Project in Chetwynd, British Columbia, which is designed to produce 60 tons per day of green hydrogen. Subscribers can read detailed project reports on the Thunder Mountain Windfarm and Sundance Hydrogen Project.
Fossil Fuels Still in the Portfolio
The Brookfield parent company's claims to be "going green" have met with some criticism from environmental activists, many of whom point out that Brookfield Asset Management is among the finalists bidding for a stake in Saudi Aramco's natural gas pipeline network, according to Bloomberg. Last month, Brookfield completed its acquisition of Inter Pipeline, one of Canada's leading companies for petroleum transportation, bulk liquid storage and natural gas liquids (NGL) extraction.
Subscribers can learn more about the acquisition from Industrial Info's August 26, 2021, article - Brookfield Set to Acquire Inter Pipeline, Combining $4.3 Billion in Canadian Energy Projects.
Industrial Info is tracking more than $4 billion worth of active projects from Inter Pipeline, virtually all of which are to be found across Canada. The highest-valued projects are associated with the Heartland Petrochemical Complex in Fort Saskatchewan, Alberta, which is designed to convert locally sourced propane into 525,000 tons per year of polypropylene (PP). Components include a $1.77 billion propane dehydrogenation (PDH) plant, which is designed to produce 1.1 billion pounds per year of propylene; a $1.3 billion PP unit, which is designed to produce 1 billion pounds per year; and a $453.4 million gas-fired power plant, which will provide the new units with 102 MW. Subscribers can read detailed project reports on the PDH unit, polypropylene unit and gas-fired power plant.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
