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TSX approves Brookfield Renewable's normal course issuer bid

The Toronto Stock Exchange accepted Brookfield Renewable Partners LP's renewal of its normal course issuer bid for its limited partnership units.

The partnership is allowed to repurchase up to 8.9 million units, or about 5%, of its issued and outstanding units. As of the close of business Dec. 24, there were 179,778,172 units issued and outstanding.

Under its normal course issuer bid, Brookfield Renewable may purchase up to 28,561 units on the TSX during any trading day. The partnership can repurchase the units from Dec. 31, 2018, until Dec. 30, 2019.

As of Dec. 21, the partnership has purchased 1,829,514 units on the TSX and the NYSE at an average price of US$27.72 per unit under its prior normal course issuer bid for up to 9 million units. The prior bid commenced Dec. 29, 2017, and expires Dec. 28, 2018.