Encore Secures $389 Million from Brookfield
Deal News | Jan 29, 2025 | Brookfield Asset Management
Brookfield Asset Management Ltd. has invested $389 million in Encore Renewable Energy, a Vermont-based clean power developer. This investment aims to expand Encore's portfolio, focusing on community-scale solar and battery storage projects. The funding, comprised of loans and tax-equity financing, will enable the development of 25 projects across various states, including Vermont, New Hampshire, Maine, Illinois, and New York. The capital for this strategic investment will be sourced through Brookfield's infrastructure debt platform, as stated by Blake Sturcke, co-chief executive officer of Encore.
Sectors
- Renewable Energy
- Private Equity and Infrastructure Investments
Geography
- United States – Encore Renewable Energy operates projects in Vermont, New Hampshire, Maine, Illinois, and New York, making the U.S. a primary geography for this investment.
Industry
- Renewable Energy – The industry describes Encore Renewable Energy's focus on solar power and battery storage projects.
- Private Equity and Infrastructure Investments – Brookfield Asset Management operates in the Private Equity sector with a focus on infrastructure, providing financial support to develop energy projects.
Financials
- $389 million – The investment amount provided by Brookfield Asset Management to Encore Renewable Energy in loans and tax-equity financing.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Brookfield Asset Management Ltd. | Investor | Company | A leading global alternative asset manager with a focus on property, renewable power, infrastructure, and private equity. |
| Encore Renewable Energy | Target Company | Company | A clean power developer based in Burlington, Vermont, focusing on solar and battery storage projects. |
| Blake Sturcke | Co-Chief Executive Officer | Person | Co-CEO of Encore Renewable Energy, responsible for leading the company's development strategy. |