Encore Renewable Energy (backed by SUSI Partners) has secured a $389 million financing package from Brookfield through its infrastructure debt platform. This funding will accelerate Encore’s expansion as an independent power producer (IPP) by supporting the construction of community-scale solar and battery energy storage projects. This deal is expected to support 25 clean energy projects across various regions including Vermont, New Hampshire, Maine, Illinois and New York. Additionally, it will support in advancing the company’s development pipeline.
Furthermore, this transaction approach meets the complete capital requirements for building and expanding a distributed generation portfolio. It combines non-dilutive debt and tax equity facilities to optimise funding. Additionally, the structure integrates a construction-to-term debt and a tax equity bridge within a single debt facility.
Encore Renewable Energy is a US based company that develops, owns, and operates community-scale solar and energy storage projects. They have over a decade of experience in the design, engineering, permitting, financing, construction, and asset management of community-scale solar energy projects.
REGlobal’s Views: This deal will help Encore to expand its IPP business and develop more clean energy assets to own and operate. Meanwhile, Brookfield has been massively increasing its exposure in the renewable energy business with back to back deals across the world.
