Unitholders Approve Creation of Brookfield Renewable Energy Partners, a Global, Pure-Play Renewable Energy Business

Brookfield Renewable Power Fund (TSX:BRC.UN) ("Fund") today announced that
unitholders of the Fund approved the special resolution that will lead to the
creation of Brookfield Renewable Energy Partners L.P. ("BREP"), a
publicly-traded partnership focused on renewable power generation with over $13
billion of power assets in Canada, the United States and Brazil. Based on the
voting results, approximately 94% of the total votes cast by unitholders and
approximately 89% of the votes cast by minority unitholders were voted in favour
of the special resolution. 


"We are grateful for the support of our unitholders, and of our preferred
shareholders earlier this week, which will result in a truly unique and global
renewable power business," said Richard Legault, Chief Executive Officer of the
Fund. "With a continued hydroelectric focus, high-quality power generating
assets and fully-contracted portfolio, BREP will enjoy a strong capital markets
profile and will be very well positioned to build on the Fund's twelve-year
track record of accretive growth, value creation and significant cash
distributions to unitholders." 


As described in the Fund's management information circular dated September 30,
2011, subject to the satisfaction of certain conditions, including the issuance
of a final order by the Ontario Superior Court of Justice, the transaction will
be implemented by way of a plan of arrangement under the Business Corporations
Act (Ontario).


On completion of the combination, unitholders will receive one limited
partnership unit in exchange for each trust unit of the Fund held, and the Fund
will be wound up. The BREP units will be listed on the Toronto Stock Exchange
(the "TSX") under the symbol "BEP.UN", subject to the satisfaction of the
applicable listing requirements of the TSX. The plan of arrangement is expected
to be complete on or about November 28, 2011. The Fund's units will continue to
trade on the TSX until BREP's units are listed. The BREP units are expected to
commence trading at the open of markets on or about November 30, 2011 and the
trust units will be delisted at that time.


This news release shall not constitute an offer to sell or a solicitation of an
offer to buy the limited partnership units of BREP or any other securities, and
shall not constitute an offer, solicitation or sale in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful. The securities
to be offered by BREP have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any
state securities laws and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the U.S. Securities Act. BREP intends to offer and sell its securities in the
United States pursuant to the exemption from registration set forth in Section
3(a)(10) of the U.S. Securities Act.


CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION 

This news release contains forward-looking statements and information within the
meaning of the Canadian securities laws. Forward-looking statements may include
estimates, plans, expectations, opinions, forecasts, projections, guidance or
other statements that are not statements of fact. Forward-looking statements in
this news release include statements regarding the proposed combination of
renewable power assets of Brookfield Renewable Power Inc. and the Fund; the
creation, capital markets profile and anticipated performance of BREP; and the
approval, successful completion and timing of the transaction and the listing of
the BREP units. Forward-looking statements can be identified by the use of words
such as "will", "expected", "intend", "continue", and targets, or variations of
such words and phrases. Although the Fund believes that such forward-looking
statements and information are based upon reasonable assumptions and
expectations, it can give no assurance that such expectations will prove to have
been correct. The reader should not place undue reliance on forward-looking
statements and information as such statements and information involve known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of BREP to differ materially from
anticipated future results, performance or achievement expressed or implied by
such forward-looking statements and information.


Factors that could cause actual results to differ materially from those
contemplated or implied by forward-looking statements include, but are not
limited to, the risk that the conditions precedent to be met, and the approvals
to be obtained, for the combination to occur, are not met or obtained. We
caution that the foregoing important factors that may affect future results is
not exhaustive. Except as required by law, the Fund undertakes no obligation to
publicly update or revise any forward-looking statements or information, whether
written or oral, that may be as a result of new information, future events or
otherwise.


About Brookfield Renewable Power Fund 

Brookfield Renewable Power Fund (www.brpfund.com) is a premier Canadian income
fund and one of the largest power income funds in North America with more than
1,700 megawatts of power generating capacity and average annual production
exceeding 6,500 gigawatt hours.


The Fund produces electricity exclusively from environmentally friendly and
renewable resources, including 42 high quality hydroelectric generating stations
and two wind farms in four distinct geographic regions across North America:
Quebec, Ontario, British Columbia and New England. 


Brookfield Renewable Power Inc., which comprises most of the power operations of
Brookfield Asset Management Inc., owns approximately 34% of the Fund's
outstanding units on a fully exchanged basis. 


The Fund's units are listed for trading on the Toronto Stock Exchange under the
symbol BRC.UN.