UPDATE 1-Brookfield Renewable to invest up to $1 billion in Isagen

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BROOKFIELD RENEWABLE CORP BEPC	39.13	+1.35%
Brookfield Asset Management Inc BN	44.92	-0.73%
Brookfield Renewable Partners LP BEP	27.81	+0.54%
Dow Jones Industrial Average DJI	47979.12	-0.90%
S&P 500 index SPX	6764.44	-0.76%

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July 18 (Reuters) - Brookfield Renewable BEPC.N said on Friday it will invest up to $1 billion to increase its stake in Colombian energy company Isagen S.A to about 38%.

As a part of the deal, Qatar Investment Authority (QIA), an existing co-investor in Isagen, will also invest about $500 million and increase its equity interest in Isagen to about 15%.

The investment will be funded through a combination of proceeds from non-recourse financings at the business and available liquidity, Brookfield said.

Isagen generates stable and contracted cash flows from its large fleet of hydro assets. In addition, it also has a pipeline of renewable power projects, to support Colombia's growing power needs.

(Reporting by Sumit Saha in Bengaluru; Editing by Shailesh Kuber)

((Sumit.Saha@thomsonreuters.com;))

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