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The Firm is representing Morgan Stanley & Co. LLC, as financial advisor to the Special Committee of the Board of Directors of TerraForm Power, Inc. (Nasdaq: TERP), in connection with the proposed acquisition by Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN) of all outstanding shares of Class A common stock of TERP not already owned by BEP and its affiliates. TERP shareholders will be entitled to receive, at their election, per share consideration equivalent to 0.381 of a BEP limited partnership unit in the form of either Class A shares of a newly formed Brookfield Renewable Corporation (“BEPC”) or BEP units; the BEPC shares are structured with the intention of being economically equivalent to, and exchangeable for, a BEP unit. The transaction is expected to close in the third quarter of 2020, subject to customary closing conditions.

TERP owns and operates a renewable power portfolio of solar and wind assets located primarily in the U.S. and E.U., totaling more than 4,200 MW of installed capacity. The combined company will be one of the largest publicly-traded pure-play renewable power platforms, with total assets of approximately $50 billion and expected annual funds from operations of approximately $1 billion.

The Simpson Thacher team includes Jakob Rendtorff and Austin Uhm (M&A).