Encore Secures $389 Million Investment from Brookfield for Renewable Projects
Deal News | Jan 29, 2025 | Brookfield Asset Management
Encore Renewable Energy has received a significant financial boost from Brookfield Asset Management Ltd., securing $389 million in loans and tax-equity financing. This funding will facilitate the expansion of Encore's community-scale solar and battery storage projects across several US states, including Vermont, New Hampshire, Maine, Illinois, and New York. The investment, procured through Brookfield's infrastructure debt platform, is expected to support 25 new projects. The move underscores Brookfield's commitment to enhancing renewable energy initiatives and underscores the growth trajectory of clean power developers like Encore, especially within the regional markets outlined.
Sectors
- Renewable Energy
- Investment Management
Geography
- United States – The article focuses on projects and financial activities occurring in the US across states like Vermont, New Hampshire, Maine, Illinois, and New York.
Industry
- Renewable Energy – The article discusses the funding of solar and battery storage projects, highlighting the focus on clean power and renewable energy initiatives.
- Investment Management – Brookfield Asset Management's role as a financial backer emphasizes its participation in the investment management industry, particularly in infrastructure and renewable energy sectors.
Financials
- $389 million – The total investment amount provided by Brookfield Asset Management in loans and tax-equity financing to Encore.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Encore Renewable Energy | Target company | Company | A clean power developer focusing on community-scale solar and battery storage projects. |
| Brookfield Asset Management Ltd. | Investor | Company | A global alternative asset management company providing $389 million in financing to Encore. |
| Blake Sturcke | Executive | Person | Co-chief executive officer of Encore Renewable Energy. |