Prospectus excerpt:  Brookfield Renewable Power Preferred Equity Inc. (the “Corporation”) is offering (the “Offering”) 7,000,000 Class A Preference Shares, Series 5 (“Series 5 Shares”) at a price of C$25.00 per Series 5 Share (the “Offering Price”). The Corporation is a subsidiary of Brookfield Renewable Energy Partners L.P. (the “Partnership”). The net proceeds of the Offering will be loaned to the Partnership or one or more of its subsidiaries, which will use proceeds of the loan to repay outstanding indebtedness and for general corporate purposes. See “Use of Proceeds”. As described below, the Series 5 Shares will be guaranteed by the Partnership, Brookfield Renewable Energy L.P. (“BRELP”), Brookfield BRP Holdings (Canada) Inc. (“CanHoldco”) and BRP Bermuda Holdings I Limited (“Bermuda Holdco”, and collectively with the Partnership, BRELP and CanHoldco, the “Guarantors”). The holders of Series 5 Shares will be entitled to receive fixed cumulative preferential cash dividends, as and when declared by the board of directors (the “Board of Directors”) of the Corporation, payable quarterly on the last day of January, April, July and October in each year at an annual rate equal to C$1.25 per Series 5 Share. The initial dividend, if declared, will be payable April 30, 2013 and will be C$0.3116 per share, based on the anticipated closing date of January 29, 2013. See “Details of the Offering”.

The Series 5 Shares will not be redeemable by the Corporation prior to April 30, 2018. On and after April 30, 2018, the Corporation may, at its option upon not less than 30 days and not more than 60 days prior notice, redeem for cash the Series 5 Shares, in whole at any time or in part from time to time, at $26.00 per share if redeemed before April 30, 2019, $25.75 per share if redeemed on or after April 30, 2019 but before April 30, 2020, $25.50 per share if redeemed on or after April 30, 2020 but before April 30, 2021, $25.25 per share if redeemed on or after April 30, 2021 but before April 30, 2022, and $25.00 per share if redeemed on or after April 30, 2022, in each case, together with all accrued and unpaid dividends up to but excluding the date fixed for redemption (less any tax required to be deducted and withheld by the Corporation). See “Details of the Offering”.

The Series 5 Shares do not have a fixed maturity date and are not redeemable at the option of the holders thereof. See “Risk Factors”.