04:47 PM EDT, 07/18/2025 (MT Newswires) -- Brookfield Renewable Partners (BEP-UN.TO) said Friday afternoon that it plans to invest up to $1 billion to increase its ownership stake in Colombian power company Isagen to about 38%.

The transaction is expected to be immediately accretive to Brookfield Renewable's funds from operations (FFO) per unit and contribute about 2% to 2026 FFO per unit, the company said.

The investment will be financed using a mix of non-recourse debt and available cash, with the deal set to close in the third quarter, the company added.

As part of the same transaction, Qatar Investment Authority, an existing partner in Isagen, will invest about $500 million to raise its ownership to 15%, according to the statement.

The company's units closed up $0.43 to $37.32 on the Toronto Stock Exchange.