6-K

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of January, 2005

Commission File Number: 33-81550

           BRASCAN POWER INC.          
(Translation of registrant’s name into English)

Suite 300, BCE Place, 181 Bay Street,
Toronto, Ontario,
Canada M5J 2T3
(416) 363-9491
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.

Form 20-F _____ Form 40-F __X___

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule101(b)(1): ____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule101(b)(7): ____

Indicate by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-
2(b) under the Securities Exchange Act of 1934.

Yes _____ No __X__

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82- ________

EXHIBITS

The following exhibits are filed as part of the Report on Form 6-K:

Exhibit	Description
99.1	JANUARY 26, 2005 NEWS RELEASE - Brascan
	Power To Acquires Two Hydroelectric Plants From
	Reliant in Northeast United States

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: January 26, 2005

Brascan Power Inc.

By:   /s/ Donald Tremblay                                 
        Name: Donald Tremblay
        Title: Vice President and Chief Financial Officer

EX-99

Brascan Power to Acquire Two Hydroelectric Plants
From Reliant in Northeast United States

Gatineau, Quebec, January 26, 2005 – Brascan Power announced today that it has entered into an agreement to acquire two hydroelectric generating facilities totaling 48 megawatts of capacity from Reliant Energy, Inc., for US$42 million.

“The addition of these two peaking facilities marks our entry into the Pennsylvania, New Jersey and Maryland (PJM) electricity market, which is adjacent to and interconnected with New York, a market in which we currently operate. Strategically, this acquisition also furthers our objective of geographic diversification and at the same time extends our market penetration in the northeast”, said Harry Goldgut, Co-Chair and Chief Executive Officer of Brascan Power.

The Piney station is a 28 megawatt facility located on the Clarion River in Pennsylvania and the Deep Creek station is a 20 megawatt facility located on the Youghiogheny River in Maryland. The combined output of the facilities is 96 gigawatt hours.

About Brascan Power

Brascan Power Inc. comprises the power generating, transmission, distribution and marketing operations of Brascan Corporation. It is a producer and distributor of power and one of the lowest cost producers of hydroelectric power in North America. Brascan Power owns and operates over 120 power generation facilities with a total generating capacity of over 2,600 megawatts. The Company has developed and successfully operated hydroelectric power facilities, primarily across North America, for almost 100 years. (See www.brascanpower.com for more details). Brascan Corporation (NYSE: BNN, TSX: BNN.LV.A). is an asset management company with a focus on real estate and power generation with direct investments of $19 billion and a further $7 billion of assets under management. (See www.brascancorp.com for more details).

Brascan Power
Shelley Moorhead
Director, Corporate Communications & Investor Relations
Tel: (819) 561-8072
Fax: (819) 561-7188
Email: shelley.moorhead@brascanpower.com

Note: This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “believe”, “expect”, “anticipate”, “intend”, “estimate” and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters identify forward looking statements. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those set forward in the forward looking statements include general economic conditions, interest rates, availability of equity and debt financing and other risks detailed from time to time in the companies’ Annual Reports and Brascan’s 40-F filed with the Securities and Exchange Commission. The companies undertake no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.