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BORROWINGS (Tables)
 6 Months Ended
Jun. 30, 2019
Disclosure of detailed information about borrowings [abstract]  
Summary of borrowings
The composition of non-recourse borrowings is presented in the following table:
 
Jun 30, 2019
 
Dec 31, 2018
 
Weighted-average
 
 
 
 
 
Weighted-average
 
 
 
 
(MILLIONS EXCEPT AS NOTED)
Interest
rate (%)
 
Term
(years)

 
Carrying
value

 
Estimated
fair value

 
Interest
rate (%)
 
Term
(years)

 
Carrying
value

 
Estimated
fair value

Non-recourse borrowings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hydroelectric
6.1
 
9

 
$
6,689

 
$
7,168

 
6.1
 
9

 
$
6,318

 
$
6,517

Wind
4.9
 
11

 
1,990

 
2,113

 
4.7
 
11

 
1,914

 
1,957

Solar
5.9
 
6

 
143

 
143

 
6.0
 
7

 
142

 
133

Storage and other
4.1
 
4

 
92

 
97

 
4.1
 
5

 
91

 
95

Total
5.8
 
10

 
$
8,914

 
$
9,521

 
5.7
 
10

 
$
8,465

 
$
8,702

Add: Unamortized premiums(1)
 
1

 
 
 
 
 
 
 
1

 
 
Less: Unamortized financing fees(1)
 
(75
)
 
 
 
 
 
 
 
(76
)
 
 
Less: Current portion
 
(597
)
 
 
 
 
 
 
 
(495
)
 
 
 
 
 
 
 
$
8,243

 
 
 
 
 
 
 
$
7,895

 
 
(1) 
Unamortized premiums and unamortized financing fees are amortized over the terms of the borrowing.
The following table summarizes the available portion of credit facilities:
(MILLIONS)
Jun 30, 2019

 
Dec 31, 2018

Authorized corporate credit facilities(1)
$
2,100

 
$
2,100

Draws on corporate credit facilities(1)
—

 
(721
)
Authorized letter of credit facility
400


300

Issued letters of credit
(226
)
 
(209
)
Available portion of corporate credit facilities
$
2,274

 
$
1,470


(1) 
Amounts are guaranteed by Brookfield Renewable.
The composition of corporate borrowings are presented in the following table:
 
Jun 30, 2019
 
Dec 31, 2018
 
Weighted-average
 
 
 
 
 
Weighted- average
 
 
 
 
(MILLIONS EXCEPT AS NOTED)
Interest
rate (%)
 
Term
(years)

 
Carrying
value

 
Estimated fair value

 
Interest
rate (%)
 
Term
(years)

 
Carrying
value

 
Estimated fair value

Credit facilities(1)
3.6
 
5

 
$
—

 
$
—

 
3.3
 
4

 
$
721

 
$
721

Medium Term Notes:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Series 4 (C$150)
5.8
 
17

 
115

 
$
143

 
5.8
 
18

 
$
110

 
$
124

Series 7 (C$450)
5.1
 
1

 
344

 
358

 
5.1
 
2

 
330

 
342

Series 8 (C$400)
4.8
 
3

 
305

 
$
327

 
4.8
 
3

 
293

 
309

Series 9 (C$400)
3.8
 
6

 
305

 
317

 
3.8
 
6

 
293

 
288

Series 10 (C$500)
3.6
 
8

 
382

 
$
397

 
3.6
 
8

 
367

 
357

Series 11 (C$300)
4.3
 
10

 
229

 
249

 
4.3
 
10

 
220

 
220

 
4.4
 
6

 
$
1,680

 
$
1,791

 
4.4
 
7

 
$
1,613

 
$
1,640

Total corporate borrowings
 
1,680

 
1,791

 
 
 
 
 
2,334

 
2,361

Less: Unamortized financing fees(2)
 
(6
)
 
 
 
 
 
 
 
(6
)
 
 
 
 
 
 
 
$
1,674

 
 
 
 
 
 
 
$
2,328

 
 
(1) 
As at June 30, 2019, $322 million (2018: $nil) of funds were placed on deposit with Brookfield Renewable from Brookfield. To the extent the balance becomes due, Brookfield Renewable will repay this balance by drawing on its corporate credit facility.
(2) 
Unamortized premiums and unamortized financing fees are amortized over the terms of the borrowing.