The acquisition will be funded by the company with its institutional partners maintaining an economic interest in the portfolio of about 40%.
Brookfield Renewable president and CEO Richard Legault said the Bord Gáis portfolio represents an ideal entry point into the European market, bringing with it quality renewable assets.
"Moreover, this first acquisition outside the Americas provides us with a strong foundation to build a scalable renewable energy business in Europe," Legault added.
Consisting of 321MW of operating wind capacity across 17 wind projects in eight counties in Ireland and Northern Ireland, the BGE wind portfolio portfolio represents about 15% of the installed wind capacity in Ireland.
The portfolio, which also includes some of the onshore wind resources in Europe, is well positioned for future growth with an additional 125MW currently in construction and about 300MW wind development pipeline.
Subject to regulatory approvals and other customary closing conditions, the transaction is expected to close in the second quarter of 2014.
