BEP-UN.TO

Hi Dan,

I recently purchased BEP-UN.TO for around 28-29 a share. I bought it because it was a good value play. They are growing 10% FFO per year, their P/FFO is around 7ish (looks like 15% a year returns with no growth and 7 years to get my capital back if P/FFO stays at 7). My question is that I want to know if I’m correct in my assumptions that this is a good business. I know you would say it is but my doubt came because of a mention saying BN is struggling in its infrastructure side of the business. Particularly renewables say a 2.9% increase in DE which is lackluster. Would that mean that what I bought is really a slow growing business or is this DE metric specific to brookfield only and the way the business is complexly structured, the way they manage BEP and the BEP I bought are two different ways (i.e. they do a bunch of stuff with BEP and I just own the business itself).

Thank you for your reply in advance and keep up the good work.