Brookfield Renewable Partners LP has closed a bi-lateral, incentive-linked corporate revolving credit facility with BNP Paribas, according to a Jan. 6 news release.

The facility is structured as a sustainability-linked loan, which will incorporate a pricing incentive. The structure would result to a drop in the partnership's cost of debt as it expands its renewables portfolio and meets pre-determined carbon emissions avoidance levels.

"BNP Paribas's sustainability-linked loan aligns well with our goal of expanding our renewable power portfolio as we continue to play a leading role in the decarbonization of the global power generation grid," said Julian Deschâtelets, managing director at Brookfield Renewable. "We also see this facility as a complement to issuances under our green bond framework."

Brookfield Renewable Partners's renewables portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, with over 18,000 MW of installed capacity and an 8,000 MW development pipeline.