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Why Brookfield Renewable Is Surging Today

TheMotleyFool

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Why Brookfield Renewable Is Surging Today

Units of Brookfield Renewable Partners (NYSE: BEP) rose more than 5% by 11 a.m. EDT on Friday. Powering the renewable-energy stock was the closing of its merger with TerraForm Power (NASDAQ: TERP).

Earlier this week, TerraForm Power shareholders voted in favor of merging with Brookfield Renewable Partners, which already owned a 62% interest in the renewable-energy producer. That transaction officially closed today, sending shares of the newly merged company higher.

Image source: Getty Images.

Source Fool.com

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