Encore Renewable Energy, a renewable energy developer and operator, has secured a $389 million financing solution from Brookfield through its infrastructure debt platform. This funding package combines a construction-to-term debt loan and a tax equity bridge into a single debt facility, along with a separate preferred equity facility for tax equity financing.
The financing will enable Encore Renewable Energy to expand its efforts as an independent power producer by funding the construction of a portfolio of community-scale solar and battery energy storage projects. It will also support the expansion of the company's development pipeline.
Hadley Peer Marshall, Managing Partner and co-head of Brookfield's infrastructure debt and structured solutions businesses, stated that this transaction exemplifies the significant interest in capital solutions within the renewables sector, driven by growing power demand. This investment reinforces Brookfield's strategic focus on sustainable infrastructure.
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