Encore Renewable project in Hartland. Encore photo.
Innovative financing that supports the growth of solar PV and storage solutions in U.S. energy systems.
Vermont Business Magazine Encore Renewable Energy, a leading renewable energy developer and operator backed by SUSI Partners, announced the closing of a $389 million financing solution from Brookfield, through its infrastructure debt platform. This transaction will accelerate Encore’s growth as an independent power producer (“IPP”) by financing the construction of a portfolio of community-scale solar and battery energy storage projects while supporting the further expansion and advancement of the company’s development pipeline.
This deal employs a pioneering approach that meets the complete capital requirements for constructing and expanding a distributed generation portfolio through combined non-dilutive debt and tax equity facilities. The financing structure integrates construction-to-term debt and a tax equity bridge within a single debt facility, complemented by a preferred equity facility dedicated to tax equity financing.
“This is a transformational moment for Encore as we enter the next phase of our strategic transition into an IPP,” said Blake Sturcke, co-CEO of Encore Renewable Energy. “With this funding, we are now poised to meet the rapidly growing energy demand across numerous US markets with clean, reliable, and cost-efficient power generation and storage solutions.”
Hadley Peer Marshall, Managing Partner and co-Head of Brookfield’s infrastructure debt and structured solutions businesses, said: “We are pleased to partner with Encore Renewable Energy to provide a bespoke financing package to support the build-out of their solar and battery storage projects. This transaction is a good example of the significant interest we have seen for capital solutions in the renewables sector, driven by the growing demand for power.”
"We are confident that Brookfield represents the ideal financing partner as we continue to scale as a distributed generation IPP," said Chris Clement, CFO and CIO of Encore Renewable Energy. "Our organizations share a strong alignment in co-developing these forward-looking facilities, and we approached this financing with the intention of establishing a streamlined and strategic partnership—one that would provide the operational agility essential for our continued growth."
“This transaction is a result of Encore’s dedication to developing and securing high-quality, impactful clean energy projects,” said Scott Mackenzie, Chairperson of Encore Renewable Energy and Head of Portfolio Services at SUSI Partners. “We are excited to accompany the Encore team in achieving their growth plans and thrilled to have Brookfield on board with us as a financing partner.”
Vinson & Elkins LLP served as legal counsel to Encore Renewable Energy and Norton Rose Fulbright LLP served as legal counsel for Brookfield Asset Management.
ABOUT ENCORE RENEWABLE ENERGY
Encore Renewable Energy is delivering energy’s second act through community-scale solar and energy storage. Based in Burlington, Vermont, their team specializes in impact-driven renewable energy development and long-term asset ownership, reviving underutilized property such as brownfields and adding value with innovative land use solutions. As a certified B Corporation and leader in socially responsible business, Encore is committed to revitalizing communities and creating a cleaner, brighter future for all. Encore is a portfolio company of SUSI Partners. For more information, please visit encorerenewableenergy.com.
ABOUT BROOKFIELD ASSET MANAGEMENT
Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with over $1 trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy.
ABOUT SUSI PARTNERS
SUSI Partners is an independent, specialist investment manager providing institutional investors with access to mid-market private infrastructure opportunities arising from the global energy transition. With over 15 years of activity and EUR 2.1 billion capital raised to date, the firm has a proven track record across the energy transition investment theme, achieving attractive risk-adjusted returns for its clients and their beneficiaries while contributing meaningfully to global climate change mitigation efforts. For more information, please visit www.susi-partners.com.
Source: 1.29.2025. Burlington, VT– Encore Renewable Energy
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