Under the first transaction, the company has agreed to acquire a 70MW hydroelectric portfolio comprising nine hydroelectric facilities on the Penobscot, Androscoggin and Union rivers in New England from affiliates of ArcLight Capital Partners.

The Maine portfolio, which has expected generation of around 375,000MWh annually, sells 60% of its output into the New England wholesale power market, while the remaining power is sold to local utilities under long-term contract until 2024 and 2028.

The portfolio has long-term Federal Energy Regulatory Commission licenses, most of which are slated to expire after 2029.

As per the second transaction, Brookfield Renewable and its partners will acquire the remaining 50% interest in the 30MW Malacha Hydro peaking facility on the Pit River in Lassen County, California.

Brookfield Renewable, which has acquired its initial operating interest in Malacha Hydro in December 2010, sells output to Pacific Gas and Electric under a fixed-price contract until 2028 with a natural gas indexed energy price component starting in 2017.

Brookfield Renewable president and CEO Richard Legault said the newly acquired hydro assets are highly complementary to its existing portfolio in North America.

"We continue to add high quality assets in this low-price environment, which provide an attractive combination of stable, contracted revenues and strong prospects for long-term cash flow growth.

"Moreover, we are pleased to continue to invest in Maine and California, both important markets for us. Our knowledge of hydro and our operating expertise in these markets give us confidence in the long-term value creation potential of this portfolio," added Legault.