And the other point I would make is we increasingly look at asset sales the same way. If someone is to offer us a value on a hydro asset that far exceeds that what we think the value of that asset is in our portfolio, we would consider selling hydro as well. We look at hydro as a technology. We value it very, very significantly, but we look at it emotionlessly the similar way we look at all the other renewable asset classes.
David Quezada: Excellent. Thanks for that, Connor. I’ll turn it over.
Operator: Thank you. [Operator Instructions] Our next question will come from Rupert Merer from National Bank. Your line is open.
Rupert Merer: Hi, good morning. Connor, on asset recycling, are you still seeing strong appetite in the market to support your recycling program? And can you comment on the direction of prices you’re seeing and how that might vary by market?
Connor Teskey: Rupert, it’s a really, really good question. And I would say one thing we’ve seen this year, which is probably appropriate color that we can share, is it’s important to recognize what’s happening in the market right now, which is there is still a huge influx of capital into the renewable power energy transition decarbonization space. But I would say the vast majority of that capital is flowing into the segment of the market that is looking for, I would say, small to medium sized assets that are very de-risked and are operating and contracted. Larger scale platforms that require more operational intensity and more development, that’s where we’ve seen good opportunities to buy for value. Selling well-sized assets that are de-risked, that’s where we’re seeing good opportunities to sell for value.
And we’ve really taken that into account in terms of our approach to asset sales. And therefore, as we look at the asset sales we’ve completed recently and the ones in our pipeline going forward, they really focus on, I would say, small to medium-sized assets that are very de-risked and can attract a very low cost of capital, and we continue to see a very, very strong bid for those assets. In general, I would say across almost all our major markets around the world. Off the top of my head, I can’t really think of one now where we aren’t seeing still a robust bid for those well-sized de-risked contracted assets.
Rupert Merer: So with that interest in investing in the sector from other investors in the space, how are you seeing the capital being made available through your private partnerships and your other institutional partners? Are they still writing checks to support deals alongside Brookfield?
Connor Teskey: Yes, absolutely. Stronger today than ever before. And I think we’re seeing that not only through our Brookfield’s broader funds business, but also the willingness of large global institutional, highly sophisticated investors to on a discretionary basis co-invest into some of our larger transactions. And Westinghouse, which we will close next week, is a great example of that. We saw very significant co-investor demand to come alongside of Brookfield Renewable in investing in that transaction. And we feel that’s great. If one, really validates our investment thesis. And two, it also allows us to continue to look to execute on the largest and most attractive opportunities at a scale that very few around the world can match. So we continue to see very, very robust demand for exposure to this space from large sophisticated institutional investors.
Rupert Merer: Great. And then just finally, you may not want to comment on this, but the — it seems the Origin Energy deal doesn’t have support from all of the shareholders. Just wondering what the options are to get that deal over the line or what your next steps will be if you have some challenges there. Any thoughts on Origin?
Connor Teskey: Certainly. So, unfortunately, this is a live transaction involving a public company, so we can’t comment on it on this call.
Rupert Merer: Fair enough.
